On Sunday, China announced that it would increase efforts to ensure that all the hot money from overseas is kept out of its property market, in a statement that was posted on the official website of the State Council.

"Relevant departments need to strengthen inspection and control of credit and capital flows, cross-border investment and financing activities... to prevent foreign inflows of 'hot money' from impacting China's property market", read the statement.

In the current times, Beijing is continually faced with growing public concerns about an "overheated" property market, in addition to a potential asset bubble looming large over the stock market, which could lead to threatening of social stability.

Last month, the State Council had pledged that it would step up efforts to try and control what it referred to as an "overly fast" hike in property prices across some cities, and Sunday statement has just resounded the call to quicken the construction of more affordable residential properties and for redevelopment of the slum areas.

The central bank as well, earlier this week, has shared that it would be paying close attention to the property market in 2010.