Measures to cool the market
China Daily | Updated: 2010-04-21 07:52
On March 11, the Ministry of Land and Resources issued a directive, saying that developers must take a 50-percent downpayment on all land put up for auction within one month after signing a contract, or they will lose the land along with their deposit.
On March 18, the State-owned Assets Supervision and Administration Commission of the State Council ordered 78 central State-owned enterprises to quit the housing market.
On March 23, the Ministry of Land and Resources suspended transactions of land for residential use until a nationwide land-use plan was crafted on April 15.
Photo
