Hainan to maintain tight restrictions on property purchases: official

Authorities in Hainan will maintain tight restrictions on property purchasing within the entire territory of the southern island province, an official said.

Rumors have swirled around that the province will lift property purchase restrictions in 2020.

The restrictions will remain tough, and the policy will still be in place, said Huo Juran, head of the provincial department of housing and urban-rural development.

Hainan will stick to the principle that housing is for living in, not for speculation, Huo said.

"We will keep policy continuity and stability," Huo said.

Hainan will continue to stabilize housing prices and try to solve housing problems for locals and non-locals.