China is considering setting up a long-term mechanism to promote healthy development of its property market, the China Securities Journal reported Monday, citing unnamed sources. The Ministry of Housing and Urban-Rural Development is investigating market conditions in some cities, including Chengdu in Sichuan province, before taking action after the third plenary session of the 18th CPC Central Committee, the paper said. Under the mechanism, property companies may have greater access to direct financing, and long-awaited real estate investment trusts are likely to be launched. The mechanism could also cover a property tax and a nationwide individual property information registration system, it said. Administrative measures such as purchase limits are expected to continue, according to the report.
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