， Real estate areas to be restricted in the Catalogue for the Guidance of Foreign Investment Industries (Amended in 2007)
The Catalogue for the Guidance of Foreign Investment Industries (Amended in 2007) issued on October 2007 will take into effect from December 1st 2007. In the catalogue, the following real estate areas are in the
Catalogue of Restricted Foreign Investment Industries. 1. Development of plots of land(limited to equity joint ventures or contractual joint ventures)
; 2. Construction and operation of high-end hotels, villas, high-end offices and international exhibition center; 3. Real estate secondary market transaction and real estate agency or brokerage companies.
The following is the full text of the Explanation on the Draft Property Law of the People's Republic of China delivered by Wang Zhaoguo , vice-chairman of the Standing Committee of the National People's Congress ( NPC ) at the Fifth Session of the Tenth NPC on March 8 2007:
Full Text
Land use right is a key issue in the process of real estate development. All land in China is either owned by the state or by collectives (usually organizations of farmers). Only state owned land can be used for real estate development. In accordance with relative laws and regulations, state owned land use rights can only be "allocated" or "granted" by Resource Bureaus, and allocated land is not available to foreign investors. ....... Full
China 's real estate policies have been experiencing substantial changes during recent years. The Chinese real estate policies mainly are constituted by laws, regulations, rules, decrees issued by national Legislative Body or Government departments. Additionally, to harmonize regional and national policies, many local governments have promulgated similar rules. ....... Full
