China is set to establish by the year 2017 a national real estate registration system in order for preserve the property rights of land or property holders.

The State Council, China's cabinet, authorized the Ministry of Land and Resources (MLR) to draw up the plans on Wednesday. The program was announced on Thursday before members of the media.

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After a careful study on how to implement the system on country-wide levels, it will take the MLR three years to roll-out the system.

The head of MLR, Minister Jiang Daming, said that the system will also provide security in every transaction that will ensure higher management standards and efficiency.

The program is seen as a continuing reform effort by Beijing to help boost the economy.

China will need at least four years to operate an integrated management procedure for the registration of real estate in order to achieve timely and relevant sharing of information and verification of transactions, registration or listing in the real estate market and tracking transactions.

Beijing aims to speed up the registration of rural collective construction, land holdings, homesteads to gather data on future reform initiatives.