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China: Property Ownership Information to be Released

Officials are building a database to be shared among 40 chinese cities

"First, records about properties and their ownership would be sorted out and put into the database. Then information about earlier sales of properties will go online" - an official from the Ministry of Housing and Urban-Rural Development said.

Analysis of these records will show the money flow from one city to another.

"This information-sharing system, which is a dream we have pursued for a long time, will play a positive role in controlling property bubble" - Gu Yunchang, vice-president of China Real Estate Association.

chinadaily.com.cn

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