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China launches survey on property sector

2009-06-10 14:09 BJT

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China's National Bureau of Statistics has launched a survey on the expenses of property developers in 40 major cities, including Beijing and Shanghai.

The Bureau says the survey will target certain housing developers, and it will also include commercial housing projects with transactions conducted between January 2008 and April of this year.

The research will focus on the situation of developers and their expenses. The move aims to clarify the overall situation in the property market. And it is also expected to serve as a reference for macro-control measures.

The property sector is seen as an industry with huge profits. But developers say that because of high land costs, they actually don't make such enormous profits as many think.

Experts attribute the misunderstandings to incomplete statistics in the property sector. They also suggest that local governments disclose their revenues levied from land use taxes and other property duties and fees.

Editor: Xiong Qu | Source: CCTV.com