Source: CCTV.com

01-16-2008 11:18

The Ministry of Construction is calling on the country's real estate enterprises to take on their social responsibility and to help build a more standardized property market.

The Ministry of Construction is calling on  the country's real estate enterprises to  take on their social responsibility and to  help build a more standardized property market. (Photo: 0577zjw.com)

The Vice Minister of Construction, Qi Ji, said that real estate and construction industries have contributed over 10 percent in the country's economic growth. But some developers' illegal activities, such as excess exploration and hoarding land for profit, have caused an irrational surge in the domestic housing prices.

This has also in turn influenced the healthy development of the property market and social stability. Thus, the ministry is calling for the strengthening of real estate developers' sense of social responsibility.

Qi Ji, Vice Minister of Construction said "It's not against the law for companies to pursue reasonable and high profits. But it's more important for them to take on their social responsibility."

The vice minister also said that real estate firms should ensure buildings' quality, be honest and follow the rules. They should also bear sustainable development and energy-saving in mind. Meanwhile, Qi Ji said that the authorities will also try their best to build a better property market through continuous curbing measures.

Qi Ji said "Those who violated the rules should be punished severely. We will also continue to look into illegal activities. Dishonest real estate developers will have to pay the penalty."

The government's moves to curb inflation in the real estate sector are taking effect. The property market has gotten chilly in many cities across the country. Experts also predict that in 2008, growth in the property sector will slow down.

Editor:Xiong Qu