Department of Listed Company Supervision 1 of the China Securities Regulatory Commission, Letter Concerning the Submission by Listed Companies of Relevant Reports When Their Acquisitions, Reorganisations and Refinancing Involve Real Property Business

Issued: September 4 2013

Main contents: With a view to putting a halt to idle land, land speculation, property hoarding and the marking up of housing prices according to the Circular on Continuing to Duly Regulate and Control the Real Property Market, the Letter specifies that listed companies (including both listed companies in the real property industry and listed companies not in the real property industry) that raise funds through refinancing and use the proceeds in business involving residential housing real property development or projects for the development of commercially developed housing, or that through a material asset reorganisation buy into residential housing real property development business or projects for the development of commercially developed housing are required to submit a dedicated verification report on the development of the land or commercially developed housing involved.