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China's Guangzhou scraps controversial housing price limits

Policy was criticized for distorting property market

From September 2016, Guangzhou had imposed price limits on new housing projects.

Guangzhou has quietly abandoned a controversial, seven-year-old policy limiting new housing prices, in a move to ease controls on the ailing property market.

Several industry sources told Caixin that the southern Chinese metropolis of 15 million people recently canceled price restrictions on new real estate projects. Developers still need to file planned selling prices with authorities, but regulators no longer provide price guidance, according to the sources.

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