More rainy days for Chinese developers despite stimulus

China’s property market has shown signs of warming up on expectations that Beijing will loosen monetary policies further, but a recent measure suggests the central government doesn’t want its generous stimulus to flow into the coffers of property developers.

Beijing will send inspection teams to 16 key provinces and cities by the end of this month to ensure real estate tightening policies are strictly enforced by local governments, according to a statement from the State Council.

The measure aims to “further ensure that the property regulation measures are implemented and speculative housing demand is curbed,” the statement said. The municipalities and provinces include Beijing, Tianjin, Shanghai, Chongqing,...