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Commercial property prices to be marked clearly

By Cai Muyuan (chinadaily.com.cn)
Updated: 2011-03-16 16:10

China plans to issue new rules which will require the prices of commercial properties to be displayed publically when they are for sale, The Beijing News reported Wednesday.

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The Department of Price Supervision of the National Development and Reform Commission (NDRC) said on Tuesday that prices of all properties, agency costs and property management fees must be marked clearly and be consistent with the declared prices.

Yang Hongcan, secretary-general of the China Consumers Association, said that many sellers are accustomed to marking false prices for goods, and that practice has been suspected of misleading and deceiving consumers. The ever intensified and uncontrolled promotions have disrupted the market and triggered irrational spending by consumers, according to the report.

"The environment and situations are ready to promote the clear price marking campaign," said Xu Kunlin, director-general of the pricing supervision department of the NDRC. The sellers have the right on pricing as long as the prices are real, he said.