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China’s mortgages by individuals should account cheaper than 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” in the high ratio just last year, the newspaper quoted Zhou Xuedong, director in 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 made up 44.9 percent of total new loans in the year, boosted by way of a furious property market boom, central bank data showed.

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

Central bank data a week ago showed medium- and long-term 房屋貸款 included 32.5 percent of brand new loans in February, marginally greater than January but the absolute dexrpky35 dropped almost in two, increasing warning signs of cooling inside 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 and keep growth on course.