Wednesday, December 24, 2008

China sticks to policies on foreign investment in property sector

The Chinese government will stick to its policies on foreign institutions' investment in China's property sector, the China Daily reported, citing an unnamed official from the Minstry of Commerce.

The official noted that the local commerce bureaus, which are authorized to examine and approve the foreign investment, might take a more flexible approach on the approval process.

The Chinese government has initiated a series of measures to boost the domestic real estate market, including tax cut on housing deals, lowering the minimum down payment and easing credit control for developers.

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