China expands property survey as oversupply concern grows

[BEIJING] China expanded an annual property survey that helps shape policies to more than 300 cities amid growing concern of oversupply in smaller cities, according to people with knowledge of the matter.

China's National Development and Reform Commission (NDRC), the country's economic planner, issued notices ordering the survey be expanded to cities at the prefecture level and above, more than quadruple the 70 cities where it was carried out in previous years, said two government officials who asked not to be identified.

Governments were ordered to look at home and land sales and price data, they said.