Qingdao and Nanjing to impose new property curbs

Beijing

CHINA'S north-eastern port of Qingdao has joined more than two dozen major cities in rolling out property curbs as speculators from outside flood the market, while Nanjing in the east intensified policy curbs to tame the market, according to a media report and government announcement on Wednesday.

Qingdao non-residents were now limited to buying at most one property in the city, in the eastern province of Shandong, on the condition that they had paid at least one year of local taxes or insurance continuously, it said.