Central Government Orders Central Enterprises to Exit Real Estate Market
Published:
2010-03-18
The State-owned Assets Supervision and Administration Commission (SASAC) arranged a news briefing for earlier this afternoon to respond to recent criticisms that cashed-up central-owned enterprises (COE) were driving up the price of land at auctions. SASAC announced at the meeting that aside from the 16 COE whose main business was related to property development, the remaining 78 COE who have invested in the real estate market will be required to withdraw after they've completed the development of land they've already purchased. No clear time table was announced.
Source
China Securities
Google Translation
Source
China Securities
Google Translation
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