RICS and property profession in China

A memorandum of understanding was signed by the Royal Institution of Chartered Surveyors with a leading real estate association in China which is intended to bring higher standards on the Chinese real estate market.

This document was signed with the Real Estate Association of Yunnan Province (YNREA) and it represents the basis for the development of professional training programs and long term cooperation.

The purpose of this collaboration is to allow the members of YNREA to enjoy guidance from RICS about the industry’s standards and best practices, and also be ready to obtain authorized status.

As both organizations have declared, their common objective is to improve in the long run the standards of the real estate industry in Yunnan.

YNREA is an important player of Yunnan’s real estate industry and it includes three branches, local associations in 16 cities in Yunnan province and two professional committees. It has also established the Yunnan Real Estate Broker Information Management System.

Furthermore, it has hosted housing trade fairs in all the cities in Yunnan, set technical specifications for the province’s real estate archives and it has established standards of information registration management for real estate brokers.

The goal here is to set and keep a superior standard of professionalism in the Chinese property industry. Because of this, RICS holds an important part in influencing and advising policy makers and the government.

Both organizations that have signed this agreement have big opportunities to collaborate in sustaining talents with industry events, professional training and overseas study tours.

YNREA president Han Zhongqing said that there are opportunities for both organizations to collaborate in nurturing talents in the region through professional training, industry events and overseas study tours.

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