China prepares fixed sales prices on homes

SHANGHAI - China is preparing to introduce a fixed-sales-price regulation to rein in its white-hot property market, following the initial effects of recent tightening measures, a senior official with the National Development and Reform Commission (NDRC) said on Tuesday.

Xu Kunlin, director-general of the pricing supervision department of the NDRC, made the remarks at the 2011 World Consumer Rights Day Forum, co-sponsored by the China Consumers' Association and NDRC, the Securities Times reported on Wednesday.

While details of the plan have not yet been disclosed, Xu told the forum that the measures will require developers to publicize their property prices and the number of apartments available for sale within a certain time frame.