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Tougher curbs loom to meet housing targets

Chinese cities seeking to cap home-price gains below income growth may need to tighten property curbs as the nation's slowing economic expansion makes their targets tougher to meet. Hangzhou, capital of Zhejiang, will tighten approvals of pre-sale permits in the second half and may raise down payments for second homes to make sure its price-control target is met, according to Today Morning Express in Hangzhou, a newspaper affiliated with the provincial government. The slowing economy has added to risks that the government will miss its expansion target.

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