Developing and investing in China’s hotel industry
One measure incorporated under the 2007 PRC Property Rights Law to minimise the risk of corruption in the acquisition of land-use rights was the requirement for the acquisition process to be by way of bidding, auction or quotation.
Land-use rights are capable of being sold, leased or assigned so long as certain conditions are fulfilled — including that the land has been suitably developed pursuant to the land grant contract. From a practical point of view, this is often avoided through the sale of equity in the holding company of the property, rather than by dealing with the property itself.
Beware of ‘allocated land-use rights’. A significant amount of land held by state bodies is deemed to be allocated, theoretically at least, for the public interest and allocated land-use rights cannot be assigned or leased unless they are first converted into granted use rights — which can be a very difficult and uncertain process. Where allocated land-use rights are assigned without approval, the land could be taken back or fines imposed. Banks will not lend money against allocated land…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The Australian Taxation Office released a draft ruling on the Goods and Services Tax treatment of bitcoin transactions on 20 August 2014.
DLA Piper’s ‘Life sciences: patent extension strategies and antitrust global update’ video covers global antitrust and competition issues including product hopping and reverse payment patents.
Analysis from The Lawyer
Cross-border work and political tensions are dominating this year’s entries for Finance Team of the Year at The Lawyer Awards.
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work