Shanghai plans to issue property rules in H2-paper

SHANGHAI: Shanghai plans to issue detailed regulation on the property sector in the second half of this year, the Securities Times reported on Friday, July 30.

Overall housing market transactions for the year are expected to fall sharply, Zhou Bo, head of the Shanghai Municipal Development & Reform Commission was quoted as saying.

Zhou added that Shanghai had resolved to clamp down on speculation and further regulate the property market in the second half of the year after initial curbs to rein in rapid rises in housing prices.

As part of the efforts, Shanghai will also try to stablise new housing and land supply. -- Reuters