On Sept. 18 at a State Council Information Office briefing, Zhang Xuetao, director-general of the Department of Real Estate Market Regulation at the Ministry of Housing and Urban–Rural Development, said the ministry will push implementation of three foundational property systems, all project-centered. In property development the priority is to solidify a project-company model to resolve who is the independent implementer of a project: one project linked to one project company; the project compan

On Sept. 18 at a State Council Information Office briefing, Zhang Xuetao, director-general of the Department of Real Estate Market Regulation at the Ministry of Housing and Urban–Rural Development, said the ministry will push implementation of three foundational property systems, all project-centered. In property development the priority is to solidify a project-company model to resolve who is the independent implementer of a project: one project linked to one project company; the project company to exercise independent legal-person rights; and headquarters strictly prohibited from illegally diverting project-company funds.