The amended “Measures on Administering Undeveloped Land in Guangzhou” has been officially released by the Guangzhou government. Undeveloped land fees will no longer be levied on a monthly basis, but will be levied at a fixed rate of 20%of the value in the transfer or assignment of the land. Late charges amounting to 1%of the undeveloped land fees will be charged on a daily basis thereafter. The Measures state that the competent land authority has the power to adjust the value added to a plot of undeveloped land by reaching a supplementary agreement on the paid use of the state-owned land. Scott Garner, director of the Lehman, Lee, and Xu Shanghai Office, asserted that “Clear and accurate prescriptions for the usage of land are essential to the smooth flow and operation of business not only in Guangzhou and other major cities, but all throughout China. This is indicative of the special attention that the government is paying to one of China’s most precious commodities, undeveloped land. We welcome the opportunity to consult with any of our clients at our Guangzhou office with questions they may have.”
Lehman, Lee & Xu is one of the first five private law firms established in the People’s Republic of China. After nearly twenty years of practice and development, Lehman, Lee & Xu now has more than two hundred patent, trademark and PRC-licensed attorneys working in numerous branch offices located in the most-developed cities in China. As one of the leading IP firms in China, Lehman, Lee & Xu provides high quality legal service to its clients and has been consistently rated among the top five IP law firms in China. Lehman, Lee & Xu is also a top-three commercial law firm, and has provided a variety of commercial legal services to hundreds of clients, many of them multinational corporations (MNCs) and Fortune 100 companies. The firm’s diverse catalog of commercial services covers foreign direct investment (FDI), merger and acquisition (M&A), tax, employment and many other areas.
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