Shanghai Daily news

Shanghai shares fell yesterday, led by property developers after China's central bank allowed commercial lenders to impose bigger down payments and higher interest on mortgage loans.
The Shanghai Composite Index, which groups yuan-denominated A shares and hard-currency B shares, slipped 0.96 percent to 1,243.47. The A-share Index shed 0.97 percent to 1,304.68 and the B-share Index lost 0.30 percent to 80.74.
"Prices in the property market have little room to rise as the (central) government has been tightening policies," said Dai Ming, a Fortune Securities Brokerage Co analyst.
A series of crackdown measures by the central government may help curb  speculation and, in turn, cool the overheated sector, Dai noted. The rise in housing prices is therefore seen to be slower this year, or even head south in the long term as more restrictions are put in place, he said.
Banks may raise the down payment requirement to 30 percent of a property's value, from 20 percent, the central bank said.
The minimum interest rate for a loan of more than five years has also been raised to 5.51 percent from 5.31 percent.
Shanghai Shimao Co plunged 8.09 percent to 5.34 yuan (64.34 US cents) while Shanghai Lujiazui Finance & Trade Zone Development Co slumped 3.93 percent to 6.84 yuan.