A STRICTER approval process will be applied to foreign investment into China’s real estate market, especially in the high-end sector, according to a notice jointly released by the country’s top two regulators.
The notice, published by the Ministry of Commerce (MOFCOM) and the State Administration of Foreign Exchange (SAFE), will give the MOFCOM authority for final approval of a project. It also imposes a strict threshold on foreign investor applications to establish real estate companies. Only those that have land use rights and own property can establish real estate firms.
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