Economy

China mulls rules to check profiteering in property sector

(Xinhua)
Updated: 2011-04-27 14:48
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BEIJING - China's top price regulator is mulling rules to fight profiteering in the commercial property sector, a senior price official told Xinhua Wednesday.

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"We are studying costs, profits and prices in property sector and plan to make it subject to effective measures to check profiteering," said Xu Kunlin, chief of the Price Department of the National Development and Reform Commission (NDRC), the country's top economic planner and price regulator.

The move is in line with China's anti-profiteering rules.

China reported slightly more cities with lower or flat home prices in March, but most cities saw home prices rise, according to figures from the National Bureau of Statistics.

The NDRC in March publicized regulations to cool home prices beginning May 1 to address public complaints about the lack of transparency in home pricing.

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