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.
