BEIJING (AP) — Chinese Premier Wen Jiabao has vowed that a recent interest rate cut aimed at stimulating economic growth will not ignite a new bout of real estate speculation that would push up housing costs, state media said Sunday.
Wen, China’s top economic official, ordered local officials on Saturday to enforce rules aimed at cooling a surge in housing prices, the official Xinhua News Agency reported. Wen said during an inspection tour of the eastern city of Changzhou that people who try to evade the curbs should be punished.
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