2010-03-18

New China real estate policy targets SOEs

SOEs Exit Property Market
The spokesman of State-owned Assets Supervision and Administration Commission (SASAC) said at a press conference on March 18 that 78 SOEs, which are focused on industries outside of real estate, will exit the market gradually. The 78 heavy-weight companies will restructure to spin off their housing arm, after they have completed existing projects.

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