China to send teams to inspect property regulation

0 Comment(s)Print E-mail Xinhua, July 24, 2012
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Potential homebuyers look at a model of a property development in Nanjing, Jiangsu province. [Photo/Xinhua]

Potential homebuyers look at a model of a property development in Nanjing, Jiangsu province. [Photo/Xinhua]

China's State Council, or cabinet, said Tuesday that the country will send eight teams later this month to inspect the implementation of property regulation policies by local authorities.

The move aims to "further ensure that the property regulation measures are implemented, speculative housing demand is curbed, and to strengthen the effects of the property regulation measures," the State Council said in a statement.

The teams will go to 16 cities and provinces, to inspect how well the housing purchasing limit policies and differential credit policy have been carried out, and check the supply and management of residential land and the implementation of tax policies, it said.

The municipalities and provinces include Beijing, Tianjin, Shanghai, Chongqing, Hebei, Jiangsu, Zhejiang and Fujian.

The inspection teams will urge regions, where the property regulation measures are not strictly followed, to make rectifications, the statement said.

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