Beijing, Tianjin and Hebei act on realty speculation

The Beijing, Tianjin and Hebei governments are teaming up to intervene and stop speculation in the real estate market, senior officials said.

Tongzhou district, Beijing's subsidiary administration center, is forming a realty regulation enforcement alliance with Tianjin's Wuqing district and Langfang in Hebei province - the two latter areas within easy reach of the capital - to target market speculators and errant property agencies.

Wu Diandong, deputy head of Tongzhou Commission of Housing and Urban-rural Development, said at a working conference in Beijing that the new alliance of the three local governments will improve market supervision and hit speculation in cross-border housing sales.