Oct. 15 (Bloomberg) -- China’s housing ministry may ask local governments to consult the authorities before adjusting real-estate curbs, the China Business Journal reported, citing an unnamed person.
Cities will need to notify provincial authorities and listen to their advice while municipalities administered by the central government should go to the State Council, the report said, citing a person close to the Ministry of Housing and Urban-Rural Development.
The State Council and the housing ministry made inquiries after the city of Foshan announced Oct. 10 it would loosen some limits on property purchases, the Chinese-language newspaper said in its Oct. 17 edition, available today. The city suspended the plans a day later.
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