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China’s mortgages by individuals should account for under 30 percent of 房貸 in 2017 as housing curbs are expected to slow mortgage growth, state newspaper China Securities Journal quoted a central bank official as saying on Tuesday.

That will be a “clear drop” from your high ratio last year, the newspaper quoted Zhou Xuedong, director from the business management department within the People’s Bank of China, as saying.

In 2016, China’s 5.68 trillion yuan ($820.9 billion) in new medium- and long-term household loans made-up 44.9 percent of total new loans around, boosted with a furious property market boom, central bank data showed.

Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks the other day, who said measures by local governments to cool rising house prices would slow mortgage growth to some degree, but housing loans would continue to grow with a relatively rapid pace.

Central bank data last week showed medium- and long term 房屋貸款 accounted for 32.5 percent newest loans in February, marginally beyond January but the absolute dexrpky35 dropped almost in half, adding to indications of cooling inside the housing sector.

China has targeted broad money supply development of around 12 percent in 2017, slightly below last year’s goal, signaling a bid to contain debt risks while keeping growth on track.