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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 would be a “clear drop” through the high ratio just last year, the newspaper quoted Zhou Xuedong, director of the business management department inside 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 composed 44.9 percent of total new loans in the year, boosted with a furious property market boom, central bank data showed.

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

Central bank data a couple weeks ago showed medium- and long-term 房屋貸款 included 32.5 percent of new loans in February, marginally greater than January but the absolute dexrpky35 dropped almost in two, contributing to signs and symptoms of cooling in the housing sector.

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