Beijing faces test of reining in property speculation even when growth slows

Beijing

CHINA is talking the talk about reining in the speculation that fuelled spiralling property prices. The test will be whether it can walk the walk should growth start to falter.

The government must do more to deflate the real estate bubble by strictly controlling speculation, Yang Weimin, deputy director of an elite economic group led by President Xi Jinping, said last Saturday in Beijing after the annual gathering to plan economic goals ended.

Authorities have made similar vows in recent years that pushed prices down temporarily before they surged anew to fre…