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China Matters: New Rules Further Restrict Foreign Investment in China Real Estate

On May 23, 2007, the Ministry of Commerce and the State Administration of Foreign Exchange jointly issued the Circular on Further Strengthening and Regulating the Examination, Approval and Supervision of Foreign Investment in the Real Estate Industry [Jing Zi Han [2007] No. 50] (''Circular 50''). In addition to reiterating several of last year's Circular 171 requirements and restrictions with respect to foreign investment in China real estate, Circular 50 set forth additional requirements with respect to approvals of new foreign investment enterprises in the real estate investment sector.

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