Even the world’s fastest-growing economy has its fair share of problems in the current shaky global economic growth. With a series of events threatening to raise asset bubbles and accelerate inflation, China has implemented tighter measures – especially for the property market.

State-run China Real Estate Business reports that the Asian country’s four biggest banks have frozen new loans to property developers. Allotted loan targets for some(like Agricultural Bank of China Ltd., Bank of China Ltd., China Construction Bank Corp., and Industrial & Commercial Bank of China Ltd.), after all, have already been met this year. New loans approvals have ceased since the month of October ended. Aside from that, the cease seems to be have been brought about by the slow rise in property prices – October has seen the slowest pace in ten months.

To limit the risk of asset bubbles, China implemented expanded measures such as raising interest rates. The new local currency lending for last month was at 587.7 billion yuan ($89 billion) – way above the median forecast of 450 billion yuan.

Asked for a comment, Beijing-based ICBC press official Wang Zhenning, says he is not clear on the issue. Construction Bank press official Yang Yan cannot immediately comment.

Shares have been suffering as well as ICBC, the world’s biggest lender by market value, sees a 3.9% drop to 4.50n yuan as of the 11:06 am local time Shanghai trading – this was the biggest decline in the past seven months. Even Construction Bank sees the most drop in two months at 6.4% to 4.90 yuan. Bank of China retreated by 1.1% and Agricultural Bank lost 0.7%.

For the first time in three years, China’s central bank raised interest rates last month. This month, lenders’ reserve requirements have been increased. This is because October’s $27.1 billion trade surplus forecast impedes a risk of asset bubbles and accelerating inflation.

Also in October, consumer prices had the fastest pace in the last two years. Even when prices recover, policy makers just may implement more measures in the fourth quarter – measures such as property tax and added-value levy.