SHANGHAI has mapped out three major areas of development for the real estate sector this year to streamline the market, according to vice-mayor Xia Keqiang, who is also overseeing the planning and transportation system.
Mr Xia said the areas focused on would help to make the real estate sector a more attractive, better regulated market.
The city wants to enhance the dissemination of information concerning the market, to set up an exchange centre of international standards and to ensure that developers adhere to requirements in areas of planning and sales.
Mr Xia said that as the real estate sector had developed rapidly in the past few years, the government and developers - both domestic and foreign - had found information about the property market inadequate.
He said the aim was to make the Shanghai market more transparent, with information, such as how much land had been leased or released for lease, and how much would be up for redevelopment, being easily accessible.
He said the information would benefit development companies because they would know the market's demand and supply position.
