China streamlines filing procedures for property firms with foreign investment

BEIJING - China decided to streamline filing procedures for domestic property firms with foreign investment, according to a statement released on Wednesday.

Property enterprises with foreign investment no longer have to announce their filing documents online, according to a statement jointly released by the Ministry of Commerce (MOC) and State Administration of Foreign Exchange (SAFE).

The MOC will conduct random checks on property enterprises with foreign investment each quarter and blacklist rule violators, according to the statement.

The new rule will take effect starting from Nov 6.