China is soliciting public opinions on a proposed guideline for real estate registration as part of its effort to create a unified platform where state, province, city and county level governments will be able to share real-time information.
From now on till September 15, suggestion or advice
can be sent to a designated website, or by mails and emails, the
Legislative Affairs Office of the State Council said in a statement
posted today on its website.
According to the proposed guideline for real estate
registration, the ownership as well as other legal information
regarding real estate, which includes land, maritime space, buildings
and forests, should all be registered with certain registration
The initiative, when fully implemented, is expected
to leave significant impact over the country's real estate market as
it will allow the government to track down all properties in the
market when imposing austerity measures, 21 Century Business Herald
reported, citing an industry analyst. At the moment, only those
undergoing transactions are usually covered, the newspaper said.