China’s higher courts vow to strengthen handling of real estate law cases
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The Supreme People’s Court (SPC) has called for stricter handling of real estate cases to help implement the Chinese government’s new round of policies to cool down its real estate market. Xiao Yang, president of the SPC, said at a national conference of presidents of the higher courts held this week, “China now stands at a crucial stage of development and is challenged by various social problems, including crime, which exerts great pressure on the courts.” Tightening supervision over the real estate market is one of the court’s efforts to safeguard the country’s macro control policies, Xiao said. “We will carry out China’s policies in the real estate industry to prevent speculation and illegal land seizure as well as illegal buying and selling,” said Li Daomin, president of the higher court of central China’s Henan province. On May 17, Chinese Premier Wen Jiabao attended a State Council meeting on working out new macro measures to curb soaring housing prices and the increasing amount of vacant commercial buildings. The meeting announced six major policies for China’s real estate market, emphasizing that tight tax, loan and land regulations would be put in place to restructure the industry. More : english.people.com.cn |