CHINA wants its new regulations for real-estate management ready by 1997 to ensure stable development of the property market. Chinese officials have given legal experts two years to finish the job, believing it will be difficult to iron out problems quickly because of laws concerning departments with overlapping responsibilities. Xinhua (the New China News Agency) reported Beijing legal authorities were co-ordinating the drafting of the regulations, to be released by the State Council. They would include rules to real estate development and management, pricing management and real-estate rights registration and management. The real estate management laws came into effect on January 1 as part of an effort by the central government to better regulate the real estate market and to demonstrate support for increased foreign investment in industrial and residential developments. The comprehensive law consolidates existing regulations and provides new guidelines for the development of China's semi-planned market. Construction Minister Hou Jie said the most pressing need for the healthy and stable development of the market was to quickly finish formulating the regulations. It was reported that Guangdong province and Shanghai had drawn up laws of their own to strengthen the management markets. Regulations released recently covered the pre-sale of commercial flats and the professional standards and qualifications for real-estate appraisers. Other regulations would govern the transfer of property and the management of intermediary services for the real estate market, as well as for the management of rents and leases.