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China’s mortgages by individuals should account for less than 30 percent of 房貸 in 2017 as housing curbs are anticipated 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 just last year, the newspaper quoted Zhou Xuedong, director in 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 in the year, boosted by way of a furious property market boom, central bank data showed.

Zhou’s estimates echoed central bank governor Zhou Xiaochuan’s remarks a couple weeks ago, who said measures by local governments to cool rising house prices would slow mortgage growth to many degree, but housing loans would keep growing at the relatively rapid pace.

Central bank data a couple weeks ago showed medium- and long term 房屋貸款 accounted for 32.5 percent of the latest loans in February, marginally beyond January but the absolute dexrpky35 dropped almost in two, adding to warning signs of cooling inside the housing sector.

China has targeted broad money supply growth of around 12 percent in 2017, slightly less than last year’s goal, signaling a bid to contain debt risks whilst keeping growth on track.