| China probing property market dealings in Shanghai, other cities |
SHANGHAI, Sept. 28 (AP) -- China has ordered senior officials to investigate real estate markets in a dozen Chinese cities and provinces, the government said Thursday.
Teams of officials from the Ministry of Construction and other agencies responsible for overseeing economic policy were being dispatched to Beijing, Shanghai, Tianjin and nine provinces to check if government economic policies are cooling local property markets, the official Xinhua News Agency reported.
The report comes amid a crackdown on unauthorized use of land for property projects and other construction.
"Housing prices in many cities ... have defied macro control policies and continued to soar. Some have reported annual rises of 20 percent," the Xinhua report said.
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