Home / Business / More News Tools: Save | Print | E-mail | Most Read | Comment
Ministry Tightens Control on Brokers
Adjust font size:  ZoomIn ZoomOut

Real estate brokers face stricter control after the Ministry of Construction vowed to strengthen supervision of capital liquidity in property deals to prevent brokers from embezzling customers' down payments.

According to a regulation issued by the ministry and the central bank this week, real estate brokers must open a bank account for every customer to deposit the down payment. This fund belongs to the buyer and should be supervised by a third party not involved in the real estate business.

The fund is to be kept frozen until the deal is sealed to prevent illegal brokers from misappropriating the money before the customer takes ownership of the property, said Li Binren, ministry spokesman, on Friday.

The regulation comes amid increasing reports of embezzlement and misappropriation by real estate brokers leading to property buyers suffering substantial losses, according to the ministry's website.

"Misappropriation and embezzlement of down payments has been the biggest risk for the real estate market," Li said.

Real estate brokers generally applauded the regulation, saying it would help improve the practices of brokers in the real estate market.

"This will make real estate deals more transparent and regulated, helping to prevent brokers from taking advantage of price differences and hiking up real estate prices," said a manager with Beijing-based Lianjia Real Estate Company, who declined to be identified.

Insiders said it was common practice in the real estate market for brokers to make use of the down payment to buy more houses. In doing so, they obtained more properties to sell at a higher price.

According to Yu Bin, general manager of Shanghai-based Zhongsui Investment Supervision Co Ltd, the new regulation compels all companies to put their funds under supervision, whereas previously Shanghai real estate firms were free to decide whether to have their funds supervised or not.

(China Daily January 27, 2007)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Watchful Eye Aims to Keep Brokers Honest
- Marsh Lands First Full Insurance License
- Investors Crowding Securities Brokers
- Brokers Again Eye Equity Investment
- Marsh Named First Foreign Broker in China
Most Viewed >>

Product Directory
China Search
Country Search
Hot Buys
主站蜘蛛池模板: 四虎影院最新域名| 国产精品亲子乱子伦xxxx裸| 久久亚洲精精品中文字幕| 欧美国产日韩久久mv| 天天躁日日躁狠狠躁人妻| 中文字幕第五页| 日本理论片2828理论片| 亚洲AV综合色区无码二区爱AV| 每日更新在线观看av| 免费床戏全程无遮挡在线观看| 美女张开腿让男人桶国产| 国产伦精品一区二区三区精品| 黄色91香蕉视频| 国产精品久久久| 337p粉嫩胞高清视频在线| 国色天香精品一卡2卡3卡| chinese乱子伦xxxx视频播放| 少妇饥渴XXHD麻豆XXHD骆驼| 中文字幕第4页| 日本55丰满熟妇厨房伦| 久久无码人妻一区二区三区 | 欧美福利一区二区三区| 人人爽天天碰天天躁夜夜躁| 精品久久综合一区二区| 哒哒哒免费视频观看在线www| 色噜噜一区二区三区| 国产亚洲人成网站在线观看| 香蕉视频一区二区三区| 国产夫妻在线观看| 黄页网址大全免费观看12网站| 国产真实乱人视频| 老司机亚洲精品| 国产精品免费av片在线观看| 16女性下面无遮挡免费| 国产精品日本一区二区在线播放| 91人成在线观看网站| 国产香蕉尹人在线观看视频| 97久久精品人妻人人搡人人玩| 国自产精品手机在线观看视频 | 天天视频天天爽| japanese国产高清麻豆|