These Measures are formulated in order to give impetus to all-round reform and the opening up of China to foreigners, to reform the land use system, to try out and provide rules for a system of compensatory transfer of land use rights and to accelerate the development of Shanghai's economy. "Compensatory transfer of land use rights" refers to economic activities, which involve real estate transactions by means of the transfer of land use rights on public land for the development of that land ("charged transfer land use rights") or the assignment of land use rights, which means the transfer of land use rights by the original transferee to a third party. Compensatory transfer shall be carried out under the conditions stipulated by the Shanghai Municipal People's Government, regarding, inter alia, duration of the transfer period and the nature of use of the land. The Shanghai Municipal Land Administration Bureau shall be the organ in charge of matters concerning the compensatory transfer of land use rights within the Municipality. Transfer may take place through tender or negotiation.
Implements: Land Administration Law of the People's Republic of China. (2004-08-28)
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