BEIJING: China's central bank denied rumours that it is holding an emergency news conference on Monday, tempering speculation that the government is set to unveil more support for the cooling economy.
"We have indeed not received any notice for a press conference," said an official at the press office at the People's Bank of China (PBOC), asking not to be identified.
China's property sub-index surged more than 7 percent on Monday in its biggest gain in over six years on local media reports that the central bank had called for a press conference for 0730 GMT.
That stoked speculation that more support for the sagging housing market was in store, after the central government urged local authorities to reduce or even suspend land supply in cities where there were a surplus of housing.
China's real estate market, which accounts for about 15 percent of the world's second-biggest economy, has been an increasing drag on economic growth as prices fall and investment growth wanes.
Average new home prices fell at their fastest pace on record in February at 5.7 percent compared with a year earlier.
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