Guangzhou to Abolish Local Real Estate Development Regulations

Guangzhou, China– The Guangzhou Municipal Housing and Urban-Rural Construction Bureau has announced its intention toabolish the Guangzhou Municipal Real Estate Development Regulations (hereinafter referred to as the Regulations), seeking public feedback on the proposal. The announcement was published onthe bureau’s official website on September 9th.

The Regulations, which were passed by the Standing Committee of the Eleventh Guangzhou Municipal People’s Congressat its 40th meeting and implemented on August 1st, 2003, aimed to regulate real estate development activities, strengthen supervision and management of urban real estate development, and promote the healthy development of the real estateindustry. However, due to the passage of time and significant changes in the real estate development and market landscape, some provisions of the Regulations have become incompatible with higher-level laws and regulations.

The bureau stated that the Regulations’ stipulation regardinga minimum capital requirement for real estate development projects, which mandates a capital investment of no less than 30% of the total project investment, including a minimum of 20% in the form of self-owned working capital, is no longer relevant. This requirement, along with the need for developers to provide proofof capital from qualified asset appraisal institutions when applying for construction plans, has become outdated.

The Regulations also mandated that infrastructure supporting real estate development projects be constructed and put into use simultaneously with the development of commercial housing. Additionally, developers were required to invest at least 10% of their annual commercial housing investment in infrastructureconstruction. Failure to meet the previous year’s infrastructure construction plan resulted in a note being added to the developer’s project manual, preventing the approval of new commercial housing projects by construction, planning, and land and housing management authorities.

The Guangzhou Municipal Housing and Urban-Rural Construction Bureau has proposed the abolition of theRegulations due to the existence of more recent and comprehensive legislation at the national and provincial levels. These include the Regulations on the Administration of Urban Real Estate Development and Operation, a national administrative regulation, the Regulations on the Qualification Management of Real Estate Development Enterprises, a departmental regulation, and the Guangdong Province Real EstateDevelopment and Operation Regulations, a provincial local regulation. These regulations are currently used to guide real estate development management in Guangzhou.

The bureau is seeking public feedback on the proposed abolition of the Regulations until October 8th. Individuals can submit their opinions through email at fdcyglc@gz.gov.cn or bymail to the Real Estate Industry Management Department of the Guangzhou Municipal Housing and Urban-Rural Construction Bureau, located at Building No. 3, No. 1 Courtyard, Fuqian Road, Yuexiu District, Guangzhou, 510030. When submitting feedback, individuals are requested to provide their name andcontact information for further communication if necessary.

This move reflects the ongoing efforts by the Guangzhou Municipal Government to streamline regulations and align local legislation with national and provincial standards, fostering a more efficient and transparent real estate development environment. The abolition of the Regulations is expected to simplify the development process and promote greater flexibility for real estate developersin Guangzhou.


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