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CONTENTS List of Illustrations vi i List of Tables vii i Preface i x Levett and Bailey, The Sponsor x i Chapter One: China in Perspective 1 Introduction 1 The Open-door Policy 7 Policy Conflicts 7 Government Administration 9 Macroeconomic Aspects 9 Urbanization 1 3 Foreign Investment Joint Ventures 1 4 The Economic Zones 1 7 Examples of Joint Ventures 1 8 Conflicting Objectives 2 6 The Banks and Project Finance 2 6 Banks 2 6 Financing 2 9 The Stock Market 3 1 Taxation 3 3 Chapter Two: Land and Property 3 5 A Property Market? 3 5 The Official View 3 8 Negotiation, Tender and Auction 4 4 Real Estate Development Companies 4 8 The Deals 4 9 The Early Stages 4 9 Their Locations 5 1 Housing 5 5 The Administrative and Legal Structure 5 7 Taxation of Land Transactions 5 9 VI Contents Documentation and Conditions 5 9 The Present Position 6 1 Chapter Three: Construction 6 5 Indigenous Projects 6 7 Design Institutes 6 9 Preparatory Offices 7 3 Construction Companies 7 3 The Cost 7 7 Joint Venture Projects 7 9 The Approval Procedure 8 1 Designing the Project 8 1 Constructing the Project 8 7 Build-Operate-Transfer 9 0 Resources 9 0 Labour 9 0 Bonuses 9 1 Materials and Plant 9 2 Contracts and Costs 9 4 Contracts 9 4 Speed, Quality and Costs 9 4 Legislation 9 8 Appendices 10 1 1. Provisional Regulations on the Granting and Transferring of Land Use Rights over the State-owned Land in the Cities and Towns (1990) 10 1 2. Provisional Measures for the Administration of Foreign Investors to Develop and Operate Plots of Land (1990) 11 1 3. Details of a selection of sales of land-use rights 11 6 4. Tender documents for a site in Guangzhou Economic and Technological Development District 12 0 5. Development conditions for a lot in Shanghai Hongqiao Economic and Technological Development Zone 12 5 6. Regulations for the Transfer of Land Use Rights for Valuable Consideration in Shanghai City (1987) 12 8 Index 13 9 ...

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