Interim Regulations of the People's Republic of China concerning the Assignment and Transfer of the Right to the Use of the State-owned Land in the Area of Cities and Townships.

The Regulations contain 53 articles divided into 8 Chapters: General provisions (I); Assignment of the right of land use (II); Transfer of the right of land use (III); Lease of land use right (IV); Mortgage of the land use right (V); Termination of the land use right (VI); Transfer of land use right (VII); Supplementary provisions(VIII).
The Regulations aim at reforming the system of using urban state-owned land in order to ensure its rational development, use and management.
The assignment of the right of land use to users shall be based on a contract signed between the land management departments of city and county people's governments and the users. The land user shall pay in full for the land use right within 60 days of the signing of the contract. The transfer of land use right shall be based on a contract, as well, and the obligation specified in the original contract shall be transferred automatically. The land user may lease out the land use right, together with the buildings and other possessions on the land, upon payment of a rent by the lessee. The land use right may be also mortgaged according to the provisions of chapter V. Termination of the land use right shall occur due to the following: (a) expiration of the land use period specified in the contract; (b) earlier recovery of the land use right; (c) disappearance of the land. In said cases the state shall take back the land use right along with the buildings on other possessions on the land.