Weekend – China's biggest cities said they'd introduce measures to boost property sector

<p>Reuters reporting on weekend comments out of China.</p><p>China's biggest cities including Beijing and Shenzhen said over the weekend: </p><ul><li>Beijing's housing ministry said it would take into account the city's real estate situation and work with relevant departments to implement the pledges of policymakers. </li><li>Shenzhen made a similar statement. </li><li>Guangzhou's housing ministry vowed to launch relevant policy measures as soon as possible.</li></ul><p>There were no details given. </p><p>Property stabilisation steps are warmly welcomed by markets as effective stimulus from China. The sector is a key driver of the economy and has been mired in a debt implosion slowdown. However, markets want details, not these vague promises. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.