Chengdu scraps all housing curbs

Chengdu, the capital of southwestern China's Sichuan province, has fully removed the homebuying restrictions.

The city will no longer review the eligibility of buying houses such as requiring a local household registration, known as hukou, and will no longer limit the number of units purchased from today, its housing authority said.

Meanwhile, China Vanke (2202) made a rare response to Moody's downgrade to Ba3, from Ba1 last week, citing support from financial institutions and its biggest shareholder.Vanke said it "firmly opposes" the decision by Moody's, arguing that Shenzhen SOE has made material support continuously, while Vanke's property sales remain among the highest in the industry.

In other news, Powerlong Real Estate (1238) has signed a restructuring pact with creditors holding over 88 percent of outstanding debt.