The Provisions for the Administration of Foreign-invested Advertising Enterprises (the Provisions) were promulgated by the State Administration for Industry and Commerce (SAIC) and took effect on October 1. The Provisions replaced the Regulation of Administration of Foreign Invested Advertising Entities and reflects a liberalisation trend that encourages foreign investment in this specialised business sector. By Richard Wageman, DLA Piper, Beijing.
Land prices in China's tier one cities have risen at a terrific rate over recent years as available construction space has been squeezed. In response to this, local Chinese authorities have sought to extract their share of profits – at the time of granting the land use rights to the preferred developer – usually through some form of bidding process. By Thomas Fairley, Norton Rose