Ministry to tighten foreign investment in real estate

The Ministry of Commerce said on Monday it plans to put in place stricter regulations and supervision of foreign investment in China's real estate.

"We are going to further regulate cross-border investment and financing activities and steer more rational investment into emerging sectors, including endowments, tourism and real estate for educational purposes," said Shen Danyang, spokesman for the ministry.

The ministry will also ask local commercial departments to pay more attention to projects invested in or acquired by foreign commercial real estate companies, to avoid potential risks in the industry.