China to strengthen property market supervision

Updated 2017-01-01 08:44:40 Xinhua

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.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58April 24 2018 22:23:37

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16April 24 2018 22:23:37

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18April 24 2018 22:23:37

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords