BEIJING: China's government has dispatched eight "special" teams across the country to assess the impact of its property tightening measures, the official China Securities Journal reported on Wednesday, Mar 23.

The move followed measures announced by China's cabinet and a maiden property tax in January to prevent a housing bubble from forming and leading to social unrest.

"The key point (of the move) is probably to reiterate that the government is serious about property controls and will work firmly to stabilise property prices," the newspaper cited an unidentified government source as saying.

"After the inspection, relevant government departments will announce the results."

Separately, the Ministry of Land and Resources also sent teams to urge local governments to cool rising land prices. Local governments have a vested interest in the buoyant property sector, a key source of their revenues.

The newspaper said many cities, including Beijing and Guangzhou, would set limits on home price changes this year during the next month or so, as required by the cabinet.

The National Development and Reform Commission, the country's powerful economic planner, said on Tuesday that property developers must reveal the price for each unit they are selling upon the launch of projects into the market from May 1. — Reuters

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