This Oct 8, 2018 photo shows the headquarters of the People's Bank of China, China’s central bank, in Beijing. (PHOTO / IC)

BEIJING - China's central bank has denied rumors that it will adjust property-related loan quotas in the macro prudential assessment framework, calling the market talk "untrue" and reiterating its stance of "housing is for living in, not for speculation."

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The PBOC said it would stick to the principle of adopting city-specific policies and implementing long-term mechanisms to promote the steady and healthy development of the property sector

The statement from the People's Bank of China (PBOC) was in response to a media report that the central bank will tweak quota management of property-related loans to spur lending to developers as part of efforts to minimize the impacts of the novel coronavirus outbreak.

The PBOC stressed that it will stick to the principle of adopting city-specific policies and implementing long-term mechanisms to promote the steady and healthy development of the sector.

Official data showed Monday that home prices in 70 major Chinese cities remained generally stable in January, with 47 of the 70 cities reporting month-on-month gains, down from 50 registered in December.

Yet the bite of the epidemic is likely to be reflected in February's housing investment and sales data as many cities have suspended house sales and construction.  

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