China outlines steps to curb price increases
Print Edition
CHINA outlined the steps to be taken to prevent housing and land price rises in a circular released yesterday.
Issued by the Ministry of Housing and Urban-Rural Development and the Ministry of Land and Resources, it says local governments should halt land deals if inventory takes more than 36 months to shift.
Local governments should also disqualify any bid backed by capital from questionable sources.
It also demands local authorities make bidding flexible, and outlines punishments for poor work.
Cities and counties with more than a million inhabitants should publish three-year (2017-2019) and five-year (2017-2021) plans for housing land, it says.
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