Legislation roundup: Property regulation, building restrictions and trust company ratings

Real property

Legislative Affairs Office of the State Council, Tentative Regulations for the Registration of Immovable Property (Draft for Comments)
国务院法制办公室不动产登记暂行条例（征求意见稿）

According to the Draft, ownership of collective land, ownership of buildings and structures such as premises, ownership of forests and trees, the right to contract for the operation of agricultural land, forest land, grasslands and other such land, and the right to use construction land, rural residential land and territorial waters are subject to registration. All such registrations will be carried out by the State Council's department in charge of land and resources and will no longer be scattered across different authorities. Also, for the first time, immovable property is defined to mean land, territorial water and attachments such as premises and trees.

See the digest for more details.

Further reading
PRC Property Law
Land Registration Measures


Construction

Beijing Municipality, List of Newly Added Industries that Are Prohibited and Restricted (2014 Version)
北京市新增产业的禁止和限制目录(2014年版)

New residential projects with a plot ratio of 1.0 or less will be prohibited throughout Beijing. With the exception of environmental green spaces, new construction and expansion in the agricultural, forestry, animal husbandry and fishery industries in the core functional areas of the capital are prohibited. New construction and expansion in the manufacturing industry, and new investment and establishment in the construction industry are prohibited. New construction and expansion of wholesale markets, and new establishment of retail commercial facilities with a business area of more than 10,000 square metres are also prohibited.

See the digest for more details.

Further reading
Measures for the Administration of the Plot Ratio of Construction Land
PRC Invitation for and Submission of Bids Law
Implementing Regulations for the PRC Law on the Invitation for and Submission of Bids


Banking

China Banking Regulatory Commission, Guidelines for the Regulatory Rating and Classification of Trust Companies (Draft for comments)
中国银行业监督管理委员会信托公司监管评级与分类监管指引（征求意见稿）

The Draft proposes to rate trust companies according to their risk management, asset management and compliance management and divide them into six different grades. Trust companies placed in the sixth grade are required to promptly formulate and start their contingency plans and carry out remedy measures to accomplish restructuring of the company. At the same time, measures such as order to suspend a company's operations, replace its directors and senior management personnel or restrict their authority may also be imposed on a problem trust company.

See the digest for more details.

Further reading
Measures for the Administration of Trust Companies
Measures for the Administration of the Net Capital of Trust Companies