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03.05.2013 18:55

How a Request from SASAC Fell on the Deaf Ears of Property Developers

Beijing asked central government-controlled businesses to exit the real estate industry, but its notice has been largely ignored
By staff reporter Zhu Yishi

(Beijing) – In early 2010 the central government enacted policies to cool the real estate market. While the curbs have, to some extent, had their intended effect, government-controlled companies that should be busy with other business have prospered in property.

In January, eight commercial plots were sold in Beijing, and the buyers were either central government-controlled companies or state-owned enterprises (SOEs), data from Yahao Real Estate Selling & Consulting Solution Agency shows. Last year 37 residential plots were sold in the capital, and central government-controlled firms and SOEs bought 24.

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