Land shall be provided to foreign-funded enterprises under paid transfer. Foreign-funded enterprises may acquire the land use right after they have applied for use of the land in line with required procedures, signed the land use transfer contract with land administrative departments and paid due fees in accordance with relevant regulations. The land for commodity housing development shall be provided by auction or tender.
The maximum duration of land use right varies with different purposes: 50 years for use by industry, education, science and technology, culture, medical institutions and sports; 40 years for commercial, tourism and recreational use; 70 year for residential use; and 50 years for comprehensive development or others. At the expiration, application for extension shall be filed at least one year prior to the expiration if the land user intends to use the land for a further period.
The land of which the use right is acquired on payment can be transferred, leased or mortgaged within the approved duration and purpose of use, as long as the transaction is registered according to the procedures stipulated by the laws.