New China property rule to aid graft fight

Beijing

A NEW property registration regulation has allowed Chinese authorities to begin collecting ownership data on a unified platform, a move intended to strengthen protection of ownership and also shed light on corrupt officials' illicit assets.

The provisional regulation to register properties ranging from buildings, forests to maritime areas and rural homesteads was announced by China's Cabinet in December to meet the requirements of the country's Property Law passed in 2007.

Entering effect on Sunday, the regulation stipulates that property be registered to create a nationwide database accessible during property transactions and among gov…