China eases prop­erty in­vest­ment rules for for­eign­ers

The China Post - - MARKETS -

Main­land China has eased prop­erty in­vest­ment rules for for­eign in­di­vid­u­als and in­sti­tu­tions across the coun­try, en­abling qual­i­fied for­eign in­sti­tu­tional and in­di­vid­ual in­vestors to buy more prop­er­ties on the Chi­nese main­land, author­i­ties an­nounced in a cir­cu­lar on Thurs­day evening.

The an­nounce­ment, posted on the web­site of the Min­istry of Com­merce, said that for- eign in­sti­tu­tional in­vestors are ex­empt from reg­is­tra­tion fees when tak­ing out do­mes­tic and for­eign loans for prop­erty and set­tling for­eign ex­change trans­ac­tions.

For­eign in­di­vid­u­als and com­pa­nies are now al­lowed to buy as many prop­er­ties as they wish, but they are still sub­ject to lo­cal hous­ing pur­chase lim­its, such as that in Shang­hai, where peo­ple with­out a Shang­hai house­hold reg­is­tra­tion are al­lowed to buy only one prop­erty.

Pre­vi­ously, for­eign res­i­dents were al­lowed to buy no more than one prop­erty on the main­land and had to first have worked in China for a year.

An­a­lysts said Thurs­day’s move was an ad­just­ment un­der cur­rent mar­ket con­di­tions, since hous­ing prices are sta­bi­liz­ing and the mar­ket is ma­ture enough to open to for­eign cap­i­tal.

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