February 22, 2013 / 10:54 AM / 6 years ago

Hong Kong tightens mortgages for commercial, industrial properties

Hong Kong's Chief Executive of Monetary Authority Norman Chan attends the Asian Financial Forum in Hong Kong January 17, 2011. REUTERS/Tyrone Siu

HONG KONG (Reuters) - The Hong Kong Monetary Authority said on Friday it will tighten mortgages for the territory’s property transactions, as part of the government’s overall efforts to cool the overheating real estate sector.

HKMA chief Norman Chan unveiled new measures after the government announced higher stamp duties on property transactions earlier in the day.

Reporting by Lee Chyen Yee, James Pomfret, Alison Leung, Anne-Marie Roantree and Christina Lo; Editing by Ken Wills

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