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PROPERTY

Government Suspends Asset Management Plans for 16 Cities’ Commercial Housing

By Chen Na and Yue Yue

(Beijing) — China has banned the registration of privately offered asset management plans (AMPs) that channel funds to commercial housing projects in 16 cities where home prices had been rising fast — the country’s latest effort to curb investment in the real estate market.

The regulation, which took effect Monday, said that the Asset Management Association of China (AMAC), a government-affiliated industry group, has suspended the registration by fund companies for five types of AMPs that provide funding to real estate developers, according to a post on the industry group’s website.

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