This is just part of the whole article called 'China stocks fall, Poised for biggest quarterly loss'
'A measure of 24 property stocks in the Shanghai Composite dropped 1.1 percent, the first decline in four days. Vanke, the nation’s biggest listed property developer, fell 1.1 percent to 7.82 yuan. Poly Real Estate, the second largest, lost 1.8 percent to 9.99 yuan. China Merchants Property Development Co. retreated 1 percent to 19.58 yuan.
Guangzhou limited pre-sale of some housing projects with “excessive high prices,” the local land resources and housing management bureau said in its Twitter-like official weibo.
The nation’s two-year effort to curb a real-estate bubble has included imposing a property tax for the first time in Shanghai and Chongqing, raising down-payment and mortgage requirements, increasing building of low-cost social housing and placing home purchase restrictions in about 40 cities.'
I saw the same news on bloomberg as well. The story has two folds. One, Chinese real estate developers will face increasing political pressure in the future unless property price drops. Two, the value of the A share index is increasing. Anybody buys the Chinese index fund at this price level would not have prolonged risk. More stimulus is coming if we do not see a rebound in the economy in the next few months.