BEIJING – The bubbling trend of China’s property sector has been curbed as measures to support the industry are gaining traction, People’s Bank of China deputy governor Pan Gongsheng said on Friday.

He added that the property sector is improving.

China will push forward the transformation of the property sector and ensure housing is for living, not speculation, Dr Pan said.

New home sales in China rose sharply in February from a slump in the previous month, buoyed by a rise in demand in small and medium-sized cities after Covid-19 curbs were scrapped and property policies enhanced, a private survey showed on Monday. REUTERS