BEIJING, March 27 China plans to set up a
unified property database in four years, land minister Jiang
Daming said in remarks published on Thursday, offering a
concrete timeframe after repeated delays.
China's plan for a nationwide property database, once hailed
as an antidote to corruption, has stalled amid resistance from
local governments that illustrates the difficulty Beijing faces
in driving through reforms to tackle widespread graft.
The database is not only seen as vital for authorities to
control a frothy housing market - it would also force corrupt
local officials to come clean about properties purchased from
ill-gotten gains, industry experts say.
"We will use about three years to fully establish a unified
registration system of real estate, and use about four years to
run a unified real estate registration information management
platform," the online portal of the People's Daily quoted Jiang
The property registration will provide some support for
fiscal and financial reforms, Jiang was quoted as telling the
fist inter-ministerial meeting on property registration.
The property registration will help "protect the legitimate
rights of people and maintain good order in the real estate
market transactions", the report said.
Most analysts expect a broad implementation of the property
tax is top of the agenda, though it would still take time due to
a complicated legislation process.
The ministry has said earlier that it would publish rules on
property registration in June and played down fears that some
people could rush to sell their property.
(Reporting by Kevin Yao; Editing by Ron Popeski)