Land use reassurance for worried homeowners

THE STATE COUNCIL, China's Cabinet, has entrusted relevant departments to draft motions to revise the law on real estate protection amid public concerns over the 70-year land use limit for residential properties, Premier Li Keqiang said on Wednesday at a news conference. Beijing Youth Daily commented on Thursday:

Land use rights will be renewed without application or preset conditions, and property transactions will not be affected, Li reassured homeowners.

Li's remarks came just a week after Minister of Land and Resources Jiang Daming assured residents that their properties will be protected when land use rights expire.