China Unveils Plans to Curb Foreign Investment

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BEIJING-The Chinese Government has released proposed rules to limit foreign investment in real estate as part of a package of measures intended to cool the surging economy, the official news agency of the government says.

The government has tried to rein in an investment boom by raising interest rates, tightening lending rules and banning some construction projects outright. Officials are concerned that excessive spending on assets could fuel inflation or cause financial problems for banks if deeply indebted borrowers default on loans.