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

That could be a “clear drop” through the high ratio just last year, the newspaper quoted Zhou Xuedong, director from the business management department from 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 with a furious property market boom, central bank data showed.

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

Central bank data a couple weeks ago showed medium- and long term 房屋貸款 made up 32.5 percent of new loans in February, marginally higher than January but the absolute dexrpky35 dropped almost by 50 %, adding to indications of cooling within 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 and keep growth on track.