《《China-Property-Investment-Guide-2016》.pdfVIP

China Property Investment Guide 2013 CHINACHINA Property Tenure/Ownership • Measures on Administration of Foreign Investment on While all land in China is still owned by the state, an amendment Development of Land (issued on 19 May 1990) to Article 10 of the Constitution of the People’s Republic of China Specific legislation concerning the implementation of national law (PRC), made in April 1988, allows the transfer of ‘land use rights’ for often exists at the provincial level. value (Land Use Rights). In February 2003, the Ministry of Land and Resources PRC (MLR) The ownership of Land Use Rights is the main form of property announced restrictions on the sale of land zoned for villa use to ownership applicable to foreign investors. Land Use Rights can developers countrywide. This was largely aimed at ensuring that be transferred, assigned, leased and mortgaged. Land Use Rights banked land was developed. In addition, the MLR and the National can be acquired through a negotiated agreement, an auction or a Development and Reform Commission (NDRC) jointly issued tender. Though the purchase of land from private developers can be the Catalogue of Prohibited Uses of Land and the Catalogue of negotiated privately, the transaction information in Shanghai has to Restricted Uses of Land on 12 December 2006. This completely be posted on the public government website. prohibited the use of land for real property development of villas and golf courses. Such catalogues were supplemented by the MLR in Land Use Rights for real estate developments are typically for terms