China completed building its national and unified real estate registration system.
The system is expected to boost transparency in ownership.
Industry experts believe a centralized real estate database would empower the government to regulate the housing market and force corrupt local officials to disclose properties purchased with illicit funds.
- According to the Xinhua news agency, the unified system took the central government ten years to build.
- China has issued 790 million real estate registrations in the past decade.
- The Chinese government could use the registration system to implement property tax in the future.
