09.02.10 16:00 Age: 16 yrs

Guangzhou Undeveloped Land Rules Revised

The amended "Measures on Administering Undeveloped Land in Guangzhou" has been officially released by the Guangzhou government. Undeveloped land fees will no longer be levied on a monthly basis, but will be levied at a fixed rate of 20%of the value in the transfer or assignment of the land. Late charges amounting to 1%of the undeveloped land fees will be charged on a daily basis thereafter. The Measures state that the competent land authority has the power to adjust the value added to a plot of undeveloped land by reaching a supplementary agreement on the paid use of the state-owned land. Scott Garner, director of the Lehman, Lee, and Xu Shanghai Office, asserted that "Clear and accurate prescriptions for the usage of land are essential to the smooth flow and operation of business not only in Guangzhou and other major cities, but all throughout China. This is indicative of the special attention that the government is paying to one of China's most precious commodities, undeveloped land. We welcome the opportunity to consult with any of our clients at our Guangzhou office with questions they may have."