Real estate system begins operation
The unified real estate registration system, seen as an integral part of new moves to fight corruption, took effect on Sunday, and an information sharing platform for the system will be put into use by June, the national land watchdog said.
The Ministry of Land and Resources has selected 15 regions, including Xuzhou, in Jiangsu province, and Changzhou district in Chongqing, as part of a program to promote the system. Some of the regions began issuing the new property certificates on Sunday, according to the ministry's website.
The national real estate registration system, covering homes and buildings, forests, farming land and grasslands, aims "to protect individuals' property rights, which is the precondition and foundation of a market economy", the ministry said.
