中国房产公司设立相关法律条例总结(英文版).pdfVIP

APPENDIX V SUMMARY OF PRINCIPAL LEGAL AND REGULATORY PROVISIONS ESTABLISHMENT OF A REAL ESTATE DEVELOPMENT ENTERPRISE According to the ‘‘Law of the People ’s Republic of China on Administration of Urban Real Estate’’ ( 中華人 民共和 國城市房地產管理法) (the ‘‘Urban Real Estate Administration Law ’’) promulgated by the Standing Committee of the National People’s Congress, effective in January 1995, as amended in August 2007, a real estate developer is defined as an enterprise that engages in the development and sale of real estate for the purpose of making profits. Under the ‘‘Regulations on Administration of Development of Urban Real Estate ’’ (城市房地產 開發經營管理條例) promulgated by the State Council in July 1998 (the ‘‘Development Regulations ’’), an enterprise that is to engage in development of real estate must satisfy the following requirements: . its registered capital must be RMB1 million or more; and . it must have four or more full-time professional real estate/construction technicians and two or more full-time accounting officers, each of whom must hold the relevant qualification certificate. The local government of a province, autonomous region or municipality directly under the PRC central government may, based on local circumstances, impose more stringent requirements on the registered capital and the professional personnel of a real estate developer. Pursuant to the ‘‘Regulations on Real Estate Development of Guangdong Province ’’ (廣東省房地 產 開發經營條例), revised by the Standing Committee of Guangdong Provincial People’s Congress and enforced on October 16, 1997, the self-owned current cap