October 19, 2016 / 8:40 AM / in a year

China's Guangzhou city to crack down on property market irregularities

BEIJING, Oct 19 (Reuters) - China’s southern city of Guangzhou will further tighten up its monitoring of irregular activities in the local property market, the Guangzhou Housing and Urban-Rural Construction Committee said in a notice posted on its website on Wednesday.

A special team has been set up to investigate misconduct of real estate developers and agencies, including false advertising, inventing and spreading rumors, carrying out presales without certificates, withholding unsold apartments, price manipulation and illegally charging additional fees, the committee said.

China’s housing ministry announced last Friday that it would crack down on nine types of misconduct by real estate developers. (Reporting by Yawen Chen and Nicholas Heath; Editing by Jacqueline Wong)

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