Beijing Municipality, Opinion on Promoting the Economic Development of the Capital with Financial Policies

北京市关于金融促进首都经济发展的意见

May 09, 2009 | BY

clpstaff &clp articles &

Establishment of Reits in Beijing encouraged.

Clp Reference: 2100/09.03.21 Promulgated: 2009-03-21

Issued: March 21 2009

Main Contents: According to the Opinion, the financing channels for real estate enterprises shall be broadened. The establishment of real estate investment trusts in Beijing shall be supported. Financing channels shall be broadened by way of establishment of equity investment funds, trust schemes and issue of debt financing instruments on the inter-bank markets. Pilot work for economically affordable housing development loans in the form of “pledge of the right to returns plus supervision of designated accounts” shall be strongly promoted (Article 12). The development of equity investment institutions in Beijing shall be actively supported. The establishment of equity investment funds with state-owned capital in accordance with the law shall be encouraged (Article 15).

Related Legislation: Several Current Opinions on Promoting Economic Development with Financial Policies, Dec 8 2008, CLP 2008 No.10 p.44; and Beijing Municipality, Opinion on the Promotion of the Development of the Financial Industry in the Capital, Apr 30 2008

clp reference:2100/09.03.21/BJpromulgated:2009-03-21

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