Property registration underway

It will take four years for China to establish a unified property registration system, the Ministry of Land and Resources said on its official Weibo account Thursday.

The move is aimed at ensuring the security of property transactions and protecting property owners' assets, the ministry said.

Registration rules will be drafted and submitted by June to the State Council, and are expected to take effect this year, Hu Cunzhi, vice minister of land and resources, said Saturday at the China Development Forum.

Expert noted that the move will also help regulate the real estate market and combat corruption.