From Bloomberg.com:
China’s rising property prices pose a threat to the stability of Asia’s second-largest economy and local officials who fail to take measures to rein in growth will be held to account, the country’s highest ruling body said.
The State Council, China’s cabinet, ordered the clampdown in a six-page document obtained by Bloomberg News that was circulated to city governments and state media. Bi Jianling, a spokeswoman for the Ministry of Construction in Beijing, confirmed the release of the document, which hasn’t been reported by mainland news outlets.
