The State Administration of Foreign Exchange (SAFE) issued another notice declaring that China has suspended foreign debt settlement and registration services for those overseas real estate companies which obtained business permits after June 1 2007.

 

The measure seeks to halt foreign speculative investment into the domestic real estate market amidst soaring house prices nationwide. This will also greatly increase self-possessed capital costs for foreign real estate companies in China.

 

For more details, please read the full story in Chinese. ( http://www.dfdaily.com/node2/node27/node260/userobject1ai17098.shtml)

(China.org.cn July 24 2007)