China’s local governments need to closely monitor the operational issues facing some property developers and real estate projects, a state planner official said in a trip to the Chinese city of Changsha on Tuesday.

The government will prioritize fending off risks and ensuring the stable and healthy development of the property market, Liu Wuxing, an official at the National Development and Reform Commission, told Changsha local government officials, according to a statement from the regulator on Wednesday.
Source: Reuters (Reporting by Liangping Gao, Stella Qiu and Ryan Woo; Editing by Jacqueline Wong)