Real Estate › Business

Legal guarantee on land-use limit

THE State Council has entrusted relevant departments to draft revisions of the law on real estate protection amid concerns over the 70-year land use limit on residential properties, Premier Li Keqiang said yesterday.

The move aims to give a legal guarantee for the renewal of the land use right after it expires, and Li said the right can be renewed without application or preset conditions. Property transactions will not be affected.”

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