China will simplify the process of and reduce the time required for immovable property registration to better serve individuals and businesses, according to a circular issued by the State Council.
The time required for general registration and mortgage registration will be cut to no more than 10 and five working days respectively, by the end of this year, according to the circular.
Before the end of 2020, both are expected to be reduced to no more than five working days.
To fulfil the targets, the country will establish a mechanism for information sharing among governmental departments and maximize the Internet's role in enhancing registration efficiency.
Meanwhile, information technology will be used to streamline the registration process, while single-window inter-agency services made available.