The time required for general registration and mortgage registration of immovable property should be cut to no more than 10 and five working days, respectively, by the end of this year, Premier Li Keqiang said at the State Council executive meeting on Jan 30.
And both should be reduced to no more than five working days before the end of 2020, he added.
He urged streamlining administration and improving government services, and further reducing the time needed for immovable property registration.
Information sharing is crucial for cutting the time for immovable property registration, which can simplify registration procedures and stimulate market vitality, Premier Li said.
Premier Li also said that an interagency information pooling and sharing mechanism should be established by the end of this year so that information related to immovable property registration, such as household registrations, business licenses, and tax payments, can be shared.
The meeting decided that the registration process will be consolidated, and single-window interagency services will be made available. For cases that cannot be consolidated, related apartments will handle them collectively. An Internet Plus immovable property registration will be promoted, whereby applications, and their reviews and government feedback, can all be made online. An applicant would need only one trip to one office to have application materials checked and complete the registration.