Shenzhen stands by home purchase restrictions

Shenzhen city in South China's Guangdong province is to maintain home purchase restrictions, according to a statement on its official Sina Weibo account.

Among 46 cities to introduce property policies, 35 have dropped purchase restrictions since Hohhot, capital of the Inner Mongolia autonomous region, first dropped all controls on June 27.

Shenzhen is the first among four first-tier cities - Beijing, Shanghai and Guangzhou are the others - to announce it will stick to the restrictions.

Wang Anshun, mayor of Beijing, said earlier that the capital would not ease restrictions, a move that could undermine the city's efforts to restructure and maintain the sustainability of the market.