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Property registration bureau in pipeline
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CHINA’S Ministry of Land and Resources has finalized the framework for a property registration bureau, ministry officials said yesterday.
The bureau will undertake 10 key tasks with 24 staff in six offices, according to a ministry plan approved by the central authority for the organization of government departments.
The government has been trying to establish a national property ownership database to enable them to know who owns what.
The system will make it easier to levy property taxes, which is widely expected to curb speculation in housing market.
The State Council earlier this year asked the ministry to propose a property registration system by the end of June.
On July 30, the State Council said it discussed a draft of an interim regulation on property registration, which will be publicized to solicit public opinion.
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