중국의 도시부동산관리법의 이해

Understanding The Urban Real Estate Management Act of China

China advocated nationwide reform and open door policy in 1978. Since then, China has turned its national policy goals for economic system from planned economy into socialistic market economy system in 1992. Under the planned economy before reform and open door policy in force, China banned any private ownership or transfer of land rigorously, but admitted only use or occupancy of land. However, it came to need the attraction of foreign capital on the way of promoting reform and open door policy continuously. To meet this goal, it has been required to make clear any right or interests of land in use. In addition, China has faced remarkable changes throughout all spheres including politics, economy, society and culture owing to introduction of Western capitalism and culture under the influence of reform and open door policy inducing whole social change. On the other hand, however, it reveals certain legal and institutional weaknesses with failure to comply with this change, and current laws and regimes relevant to real estate in China belong to those defects. Until these loopholes of law and regime relevant to real property are definitely filled by legislative means, it is inevitable that there would be challenges in the ongoing execution of Chinese reform and open door policy without a hitch. But the success in filling the loopholes will help China cope with promoted foreign capital attraction and investment, as well as extended real property trade for the benefit of consistent implementation of reform and open door policy. However, we have yet to see that there is insufficient detail in the contents of the Urban Real Estate Management Act. This requires concrete and specific maintenance and interpretation through the law. This will help China attract foreign capital.