A real estate advertisement shows information on asset appreciation. (Photo/poster)
(ECNS) -- Real estate advertisements should not include information on asset appreciation or investment rewards, according to a draft law for real estate ads issued by China's State Administration for Industry & Commerce (SAIC) on Thursday.
Such advertisements should be true, legal, scientific and accurate. Cheating or misleading consumers is prohibited, the draft stated.
SAIC is publicizing the draft to seek feedback. Once finalized and passed, it could have legal force.
Advertisements should truthfully present information regarding the location and size of the houses concerned, according to the draft. It is prohibited to include any guarantee of asset appreciation or investment rewards for buyers. In addition, no promises involving hukou, employment or education are allowed to appear in the ads. The practices of Fengshui and divination are declared to be superstitious and are banned.
Advertisements are not allowed to include images purely for their own decoration that are sourced from irrelevant places that have no association with the property in question.
Specific information regarding developers and dealers, including names and certificate numbers, should be available in the ad. If a loan is involved, information on its amount and term should also be clearly stated.
