China to establish real estate registration system by 2017, Beijing says

Out-Law News | 03 Apr 2014 | 10:54 am |

China will establish a national real estate registration system by 2017 as part of government plans to move towards a more diversified and free market economy, the Ministry of Land and Resources (MLR) has announced.

Jiang Daming, head of the MLR said that real estate registration should help preserve property rights and transaction security and create higher efficiency and management standards in the sector, according to China Daily, the state newspaper. This should help boost the market-oriented economy and financial reforms, he said.

Jiang also said that China will develop an "integrated management platform" for real estate registration over the next four years. This will be designed to ensure timely sharing of information in relation to the real estate market including in the areas of approvals and transactions.

Jiang also pledged to speed up the registration of rural collective construction land and homesteads. This would provide the basis for reform of related markets, he said.