Off the wire
• Men's winners list of Chinese table tennis league  • Spotlight: Xi-style diplomacy brings China, world closer with warmth, strength  • Feature: Syrian family long for new life in Ireland, after hardship and uncertainty  • 2,682 officials held accountable in environment inspections  • Women's winners list of Chinese table tennis league  • Iran's IRGC says no role for Saudi Arabia, Qatar in Syria peace talks  • Recent int'l support signals world rejection of Israeli policies: Palestinian presidency  • Yearender-Xinhua Insight: Six key areas to watch on China's economy 2017  • Yearender: Nigeria makes considerable gains on Boko Haram front in 2016  • Yearender: Security situation improves in Pakistan as terrorist attacks drop sharply in 2016  
You are here: 　 Home

China to strengthen property market supervision

Xinhua, December 31, 2016 Adjust font size:

China will strengthen housing market supervision to ensure healthy development of the sector, an official statement has said.

The Ministry of Housing and Urban-Rural Development reported violations of 21 real estate developers, which in hopes of boosting sales, spread rumors, published false information, operated without licenses, or hoarded unsold homes.

The companies will face administrative penalties ranging from business suspensions to fines, with serious cases being transferred to the police.

The ministry said it will continue to act tough on such activities to expel "black sheep" from the market.

It is the latest move by the central government to improve market order in the property sector after irregularities were highlighted when the sector was booming.

The housing market in major cities has shown signs of cooling as a spate of measures were rolled out by local authorities.

Policymakers have called for varied approaches to regulate the property market in the next year, damping speculation and building a long-term housing mechanism. Endi