October 18, 2016 / 10:16 AM / a year ago

Shanghai punishes property agencies for false contracts, ads - govt microblog

BEIJING, Oct 18 (Reuters) - The Shanghai housing bureau has punished seven property agencies for falsifying contracts and putting up fake advertisements, the Shanghai government said in its official weibo account on Tuesday.

The bureau also said it has also launched investigations against eight property developers suspected of raising prices without authorisation.

Sales were suspended for projects involved in price manipulation by these property developers, according to the weibo post. (Reporting by Yawen Chen and Nicholas Heath; Editing by Richard Borsuk)

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