Economy

China issues new rules on real estate agents

(Xinhua)
Updated: 2011-01-26 09:50

BEIJING -- China issued new regulations to regulate real estate brokerage practices, said a statement Tuesday.

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The statement, released jointly by the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission, and the Ministry of Human Resources and Social Security, said the regulations will be put into effect on April 1, 2011.

The move is part of the State Council's efforts to rein in China's sizzling property market, according to the statement.

The regulations provide detailed guidance regarding the operations of real estate agents, the realtors' behavior, as well as list prohibitions when conducting business, said the statement.