Beijing mulls easing rules for foreign property investment

China may make it easier for foreigners to invest in the mainland property sector in a bid to halt sliding foreign direct investment (FDI), the South China Morning Post reported, citing state media. A report in the Beijing newspaper China Times cited unnamed ministry sources as saying that the Ministry of Commerce had submitted 42 proposals to the State Council aimed at making approvals for foreign investment on the mainland easier to obtain. FDI fell by 20.4% year-on-year in the first five months of the year. One of the most significant proposals is said to be aimed at loosening rules governing foreign investment in the property sector. Beijing introduced a series of rules preventing foreigners from investing in property during 2006 and 2007. However, falling property prices and transactions have led regulators to consider rolling back austerity measures.