Business / Policy Watch

China to continue regulating land supply for housing construction

(Xinhua) Updated: 2013-01-12 15:17

BEIJING -- China will continue its regulation of land supply for housing use in 2013 to promote the stability of land market and healthy economic growth, a senior land and resources official said on Friday.

Xu Shaoshi, minister of land and resources, made the remarks at a national meeting on land and resources here.

Xu said China will intensify macro-control on land and monitoring of major real estate enterprises. China will also step up supervision on supplied housing land and punish those who violate land using regulations.

The Ministry of Land and Resources sets the annual average of actual land supplies over the past five years the minimum supply level for housing construction in 2013, Xu said.

China's residential land supplies in the first 11 months last year dropped by 15.3 percent from the same period in 2011, according to MLR data.

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