Twenty-two influential real estate developers from Fuzhou, Fujian Province have jointly proposed through the media to abide by principles and to be socially responsible.
These real estate developers, including the trans-national company Rong Qiao Group, believe that only stable house prices will foster a healthy real estate market and the steady development of the real estate enterprises. The real estate developers say they won't raise prices for properties whose selling was started before August 31, 2007. They also say they won't bid up the price for the new buildings opened after that date or speculate on the house prices. In the meantime, they say that they won't sell properties whose construction has not been completed or use misleading advertisements to cheat consumers.
In addition, they say they are willing to be supervised by the government, the media and the public.
At present, there are more than 300 real estate developers in Fuzhou, but these 22 enterprises have reportedly taken over 50% of the city's the total real estate development area and land reserves.
