Chinese Ministries Will Probe Commercial Housing Sales, Investigate Market Manipulation
Liao Shumin
DATE:  Oct 25 2017
/ SOURCE:  Yicai
Chinese Ministries Will Probe Commercial Housing Sales, Investigate Market Manipulation Chinese Ministries Will Probe Commercial Housing Sales, Investigate Market Manipulation

(Yicai Global) Oct. 25 -- The National Development and Reform Commission (NDRC) and the Ministry of Housing and Urban-Rural Construction recently said that they will inspect the price behavior of commercial housing sales nationwide from Oct. 30 to Nov. 30. The two ministries will focus on reviewing "property hoarding, the number of house sales and market price manipulation" as well as other improper behaviors.

They will emphasize probing groups that sold commercial houses without clearly marked prices, failed to "set a price for each house" according to relevant regulations, mislead or deceived consumers to transact through false price commitments and promotions, tried to avoid house transaction fees imposed on trading parties, or aided sellers in signing multiple contracts with different prices for the same house.

The ministries said that they will establish mechanisms for investigating and punishing illegal activities, and publicize some typical cases.

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Keywords:   National Development And Reform Commission,Ministry of Housing And Urban-Rural Construction,Joint Inspection,Commodity House Sell