Fuzhou takes steps to standardise land deals

PUBLISHED : Wednesday, 18 October, 1995, 12:00am
UPDATED : Wednesday, 18 October, 1995, 12:00am

THE Fuzhou property market, the country's first, has worked on standardising land deals for the past two years, according to Xinhua, the New China News Agency.

During that time, the Land Resources Administration in this capital of East China's Fujian province has been strengthened and land transactions standardised, said local officials.

The market deals mainly with auctions of land rights for the municipal government as well as approving leases and mortgages of state-owned land.

It also handles appraisal and registration of land, tax and fee collection in land deals, publishing information about property, and providing advisory services.

Over the past two years, four large land-deal fairs, producing contracts for 300 hectares of land, were held, and 800 ha of land valued at 4.3 billion yuan (HK$3.99 billion) have been appraised .

The Fuzhou property market has tightened administration of land sales and banned various land transactions.