Developers Required to Pay Down-payment of 50%
Published:
2009-12-18
In an effort to curb the growth in house prices, the government is requiring property developers to pay a down-payment of no less than 50% of the fee they pay to local governments for the right to develop a plot of land, according to a jointly released notice from the Ministry of Finance, the Ministry of Land and Resources, the People's Bank of China, the Ministry of Supervision and the National Audit Office.
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