(Photo: South China Morning Post)
BEIJING — Registering property became easier in China, pointing to improved business environment, a report said.
The country was ranked the 27th place in terms of registering property among 190 economies across the world, up from the 41st a year ago and reaching the world-leading level, the property registration bureau of the Ministry of Natural Resources said, citing the World Bank’s Doing Business 2019 report.
The process became faster, the report showed. In Beijing and Shanghai, property registration required 3.6 procedures on average and took nine days, both down from a year ago. The quality of land administration index came in at 23.7, up by 5.4.
The report attributed the improvement to streamlined administrative procedures and increased reliability and transparency of land administration system.
The registering property index tracks the process of businesses buying land and properties and measures the quality of land management, serving as an important gauge in the World Bank’s assessment on ease of doing business in an economy.