Nanjing to curb property price rises

Nanjing, capital of East China's Jiangsu Province, have rolled out a new set of regulations to further curb the city's property prices and to guarantee supply, media reported Wednesday.

The local government will monitor home prices on a quarterly basis, and prices will be regulated if prices increase very fast in the previous quarter, the Beijing-based Economic Information Daily said Wednesday.

To guarantee supply, the regulation said that the city will provide over 500 hectares of land annually in the next five years for commercial residential buildings, and apartments smaller than 90 square meters should account for over 50 percent of the land, the report said.