1989.05.12
STATE COUNCIL OF CHINA
CIRCULAR OF THE STATE COUNCIL ON STRENGTHENING THE ADMINISTRATION
ON THE INCOME FROM GRANT AND ASSIGNMENT OF STATE-OWNED LAND USE
RIGHTS FOR VALUABLE CONSIDERATION
(Issued by the State Council of China on May 12, 1989)
With a view to improving the economic environment, rectifying the
economic order and deepening the reform in an overall way as
well as to strengthening the administration on the income from grant
and assignment of State-owned land use rights for consideration,
this Circular is hereby given as follows;
1. All regions in which the system of grant an assignment of
State-owned land use rights for consideration is implemented shall
turn over to the Finance the income from such grant and assignment.
2. Of the income from grant and assignment of land use
right for consideration, 40% shall be turned over to the Central
Finance and 60% retained by local Finance.
3. The income either turned to the Central Finance or retained by
local Finance shall mainly be used in urban construction and land
development in accordance with the principle of earmarking fund for
its specified purpose only.
4. The Ministry of Finance shall formulate detailed
measures for implementation of this Circular jointly with other
relevant departments.
All regions and departments shall grasp firmly the implementation
of this Circular upon the receipt thereof. The income from grant and
assignment of land use rights obtained prior to the promulgation of
this Circular shall also be checked up and dealt with in accordance
with the provisions of this Circular.
|
