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by Greg Cruey on November 12, 2007
China's National Development and Reform Commission (NDRC) has decided to place new limits on foreign investment in a number of areas of the economy, including real estate according to the Associated Press.
While limits and restrictions already existed on foreign investment in real estate, the new rules expand those restrictions. Foreign investment in resorts, luxury housing, golf courses, office buildings, and conference centers is now prohibited by the new rules. Likewise, foreign investors are no longer allowed to invest in real estate agencies in China.
The new rules are part of an effort to cool China's economy and direct foreign investment into sustainable development geared toward local Chinese consumption.
The China Law Blog has a good summary of the new investment rules available. Those rules take effect on December 1st.
While limits and restrictions already existed on foreign investment in real estate, the new rules expand those restrictions. Foreign investment in resorts, luxury housing, golf courses, office buildings, and conference centers is now prohibited by the new rules. Likewise, foreign investors are no longer allowed to invest in real estate agencies in China.
The new rules are part of an effort to cool China's economy and direct foreign investment into sustainable development geared toward local Chinese consumption.
The China Law Blog has a good summary of the new investment rules available. Those rules take effect on December 1st.
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