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Chinese regulatory change rumours rubbished
28 Jun 2009
A recent poll conducted by Reuters found that property professionals in Asia expect prices in China to rise by ten per cent by the end of 2010, suggesting that opportunities exist for real estate investors.
Reports in the Chinese press said that as well as favourable market conditions, foreign investors could also look forward to simpler procedures when buying.
It was claimed the Ministry of Commerce had put together a package of proposals designed to make it easier for foreigners to put money into Chinese property, by moving to ease regulations relating to foreign exchange, taxation and investment approval.
However, a spokesman for the ministry told Xinhua the story had no basis in truth.
"There is no such proposal to simplify and relax foreign exchange registration procedures," the spokesman said.
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