Shang Zi Han [2007] No.50

 The authorities responsible for commerce and foreign exchange in all provinces, autonomous region, municipalities, and cities specifically designated in the state plan, and Xinjiang Production and Construction Corps:
 Six departments of the State Council (namely, Ministry of Construction, Ministry of Commerce, National Development and Reform Commission, People's Bank of China, State Administration for Industry of Commerce and State Administration of Foreign Exchange) jointly issued Opinions on Regulating the Access to and Administration of Foreign Investment in the Real Estate Market (Jian Zhu Fang [2006] No. 171, hereinafter referred to as the Opinions) for the purpose of standardizing foreign fund access to and administration of real estate market. The local authorities strictly implemented the prescriptions and requirements in the Opinions and made some substantial achievement. However, some problems still remain in some regions. In accordance with the laws and regulations of foreign investment and the relevant prescriptions in the Opinions, the relevant particulars concerning further strengthening and standardizing the examination, approval, record for file and supervision of foreign investment in real estate are hereby notified as follows:
 1. The local commerce authorities shall strictly implement the Opinions and the Circular of the General Office of the Ministry of Commerce concerning Implementing Circular concerning Standardizing Foreign Fund Access to and Administration of Real Estate Market (Shang Zi Zi [2006] No. 192), strengthen the examination, approval and supervision of foreign-funded real estate enterprises, and strictly control foreign investment in top grade real estate.
 2. Foreign-funded investment in the development and operation of real estate market shall observe the principle of project company.
 (1) In the case of applying for opening a real estate company, the right of land use and ownership of real estate building, or the booking sale/purchase of land use or real estate right signed with land administration authority, land developer/ the owner of real estate building. The examination and approval authority may not approve it if the aforesaid requirements are not met.
 (2) Should such enterprises as have established new-added real estate or business of foreign-funded enterprises, and as are engaged in the development and operation of new real estate project, the enterprises hereof shall, in light of the relevant laws and rules, apply to the examination and approval authority for the relevant procedures concerning increasing business scope or extending business scale.
 3. The merge and acquisition or investment in domestic real estate enterprises by means of return investment (including the same actual manipulator) shall be strictly controlled. Foreign investor may not alter the means of actual manipulator of domestic real estate enterprises, evade the examination and approval upon foreign-funded real estate. Should the foreign exchange authority discovers the foreign-funded real estate enterprises established by such means as deliberate evasion and false statement, the authority hereof shall investigate it for remitting capital and the additive yield of its own accord to evade foreign exchange responsibility.
 4. Foreign investor engaged in domestic real estate development or operation shall abide by the principle of business existence, lawfully apply for establishing foreign-funded enterprises in real estate and engage in the relevant business in accordance with the approved business scope. The Chinese and foreign parties to the foreign-funded real estate enterprise shall not conclude the clauses guaranteeing fixed return or the fixed return in disguised form of any party by any means.
 5. The local authority responsible for examining and approving the establishment of foreign investment shall record for file in the Ministry of Commerce.
 6. The authority responsible for foreign exchange administration and designated foreign exchange bank shall not handle procedure of settlement, sale, and remittance of capital exchange for such foreign-invested real estate enterprises as have not completed the procedure of record for file in the Ministry of Commerce or have not passed the joint annual inspection upon foreign-funded enterprises.
 7. With regard to the foreign-funded real estate enterprises examined and approved by local authority hereof against the law, the Ministry of Commerce shall investigate and rectify it, the authority of foreign exchange administration shall not handle such procedures as foreign exchange registration hereto.
 
Ministry of Commerce
State Administration of Foreign Exchange
May 23, 2007
 
 
  Ministry of Commerce, State Administration of Foreign Exchange 2007-05-23   

商务部、国家外汇管理局关于进一步加强、规范外商直接投资房地产业审批和监管的通知
 
商资函[2007]第50号

 各省、自治区、直辖市、计划单列市及新疆生产建设兵团商务主管部门、外汇管理部门：
 
为规范房地产市场外资准入和管理，国务院六部门联合下发了《关于规范房地产市场外资准入和管理的意见》（建住房[2006]171号，以下称《意见》）。各地、各部门认真执行《意见》的各项规定和要求，取得一定的实效。但少数地区仍存在一些问题。根据外商投资法律法规和《意见》的有关规定，现就进一步加强、规范外商投资房地产审批、备案和监管相关事宜通知如下：
 一、 各地商务主管部门要严格执行《意见》和《商务部办公厅关于贯彻落实〈关于规范房地产市场外资准入和管理的通知〉有关问题的通知》（商资字[2006]192号），依法加强外商投资房地产企业的审批和监管，严格控制外商投资高档房地产。
 二、 外商投资从事房地产开发、经营，应遵循项目公司原则
 （一） 申请设立房地产公司，应先取得土地使用权、房地产建筑物所有权，或已与土地管理部门、土地开发商/房地产建筑物所有人签订土地使用权或房产权的预约出让/购买协议。未达到上述要求，审批部门不予批准。
 （二） 已设立外商投资企业新增地产开发或经营业务，以及外商投资房地产企业从事新的房地产项目开发经营，应按照外商投资有关法律法规向审批部门申请办理增加经营范围或扩大经营规模的相关手续。
 三、 严格控制以返程投资方式（包括同一实际控制人）并购或投资境内房地产企业。境外投资者不得以变更境内房地产企业实际控制人的方式，规避外商投资房地产审批。外汇管理部门一经发现以采取蓄意规避、虚假陈述等手段违规设立的外商投资房地产企业，将对其擅自汇出资本及附生收益的行为追究其逃骗汇责任。
 四、 境外投资者在境内从事房地产开发或经营业务，应当遵守商业存在原则，依法申请设立外商投资房地产企业，按核准的经营范围从事相关业务。外商投资房地产企业的中外投资各方，不得以任何形式订立保证任何一方固定回报或变相固定回报的条款。
 五、 地方审批部门批准设立外商投资房地产企业，应即时依法向商务部备案。
 六、 外汇管理部门、外汇指定银行对未完成商务部备案手续或未通过外商投资企业联合年检的外商投资房地产企业，不予办理资本项目结售汇手续。
 七、 对地方审批部门违规审批外商投资房地产企业，商务部将予以查处纠正，外汇管理部门对违规设立的外商投资房地产企业不予办理外汇登记等手续。
 
商务部
 国家外汇管理局
 二○○七年五月二十三日
 
 
商务部、国家外汇管理局 2007年05月23日  颁布