BEIJING Oct 14 China's housing ministry said it
will crack down on nine types of misconduct by real estate
developers, the official Xinhua news agency reported on Friday.
The Ministry of Housing and Urban-Rural Development outlined
nine irregular business activities by real estate developers
through a teleconference on Friday.
The targeted misconduct includes false advertising,
inventing and spreading rumors, carrying out presales without
certificates, withholding unsold apartments and illegally
charging deposits for house purchases, Xinhua said through its
official weibo account.
Punishment for violators will depend on the severity of the
infractions, and could include measures such as public
renouncement and blacklisting.
Companies suspected of breaking the law will be reported to
the police, the ministry was quoted as saying.
Overheating in China's property market in recent months has
become a serious concern for policymakers. More than 20 cities
have adopted restrictive policies to prevent speculative buying
that could further fuel price bubbles.
(Reporting by Yawen Chen and Nicholas Heath; Editing by Richard