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China’s mortgages by individuals should account cheaper than 30 percent of 房貸 in 2017 as housing curbs are required to slow mortgage growth, state newspaper China Securities Journal quoted a central bank official as saying on Tuesday.

That will be a “clear drop” through the high ratio this past year, the newspaper quoted Zhou Xuedong, director from the business management department inside the People’s Bank of China, as saying.

In 2016, China’s 5.68 trillion yuan ($820.9 billion) in new medium- and long-term household loans made up 44.9 percent of total new loans around, boosted by way of a furious property market boom, central bank data showed.

Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks last week, who said measures by local governments to cool rising house prices would slow mortgage growth to a few degree, but housing loans would continue to grow at the relatively rapid pace.

Central bank data last week showed medium- and long-term 房屋貸款 made up 32.5 percent newest loans in February, marginally higher than January nevertheless the absolute dexrpky35 dropped almost by 50 percent, increasing indications of cooling from the housing sector.

China has targeted broad money supply expansion of around 12 percent in 2017, slightly under last year’s goal, signaling a bid to contain debt risks while keeping growth on the right track.