Shanghai to overhaul real estate market
5 December 2003
Shanghai's Mayor announced that the municipal government would overhaul its booming real estate market and provide more affordable houses in order to control rapidly rising housing prices in the city.
He said the city government would introduce more transparency into the market by opening up the bidding process for land sales.
Shanghai will also publish a new policy to ban speculation on houses under construction and establish an early warning system on the housing market.