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On August 28th, the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, and the State Financial Regulatory Commission jointly issued a notice on improving the system for the sale of commercial housing. The notice mentions optimizing the management of pre-sales of existing projects. For commercial housing projects that have obtained construction planning permits before the implementation of this notice, the pre-sale conditions and pre-sale fund supervision will be implemented according to the original policies. The notice also emphasizes the need to reasonably determine the amount of supervision, optimize the use of pre-sale funds, strictly supervise pre-sale funds, and ensure the safety of pre-sale funds.On August 28th, a residential land parcel in Chongqings Liangjiang New Area was auctioned off. The parcel has a planned construction area of 75,535 square meters, a plot ratio of 2.15, a starting price of 608 million yuan, and a starting floor price of 8,046 yuan per square meter. Haicheng ultimately won the bid for the land parcel with a total price of 724 million yuan, a transaction floor price of 9,585 yuan per square meter, and a premium rate of 19.13%.On August 28th, the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, and the State Financial Regulatory Commission jointly issued a notice on improving the sales system for commercial housing. The notice mentions increasing financing support. A lead bank system will be implemented for real estate projects, with real estate development companies and lead banks mutually selecting each other. One lead bank will be designated for each project, and the lead bank will provide development loans and other financing services either alone or by leading a syndicate. When real estate development companies apply for development loans using land use rights as collateral, the collateral should be set up as a collective of separate land use rights; relevant measures will be formulated separately. The notice supports real estate development companies in conducting financing through various means such as equity and bonds. For projects implementing both completed and pre-sale of existing housing, reasonable financing needs will be met according to market principles, ensuring that development loan disbursements match the project construction cycle.On August 28th, the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, and the State Financial Regulatory Commission jointly issued a notice on improving the sales system for commercial housing. The notice mentions promoting the "delivery of property and issuance of property certificate" policy. Generally, initial registration of the property should be completed before the sale of existing housing. The notice also calls for optimizing procedures related to online signing of sales contracts, real estate registration, and mortgage loan processing in the sale of commercial housing, strengthening coordination, and promoting the simultaneous issuance of property ownership certificates by homebuyers upon delivery of the housing.On August 28th, the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, and the State Financial Regulatory Commission jointly issued a notice on improving the system for selling commercial housing. The notice mentions promoting a deposit system for the sale of completed properties. For commercial housing projects implementing the sale of completed properties, after obtaining a construction permit, real estate developers can sign a deposit contract with homebuyers and legally collect a small deposit. The deposit contract should stipulate the deposit amount, the selling price of the commercial housing, the delivery time, and the liability for failure to fulfill the contract on time, protecting the legitimate rights and interests of both parties. Municipal and county housing and urban-rural development departments are responsible for deposit supervision, and housing fund supervision agencies are responsible for deposit supervision work, opening a deposit supervision account at the projects main bank. The deposit supervision is released after the house meets the delivery conditions. If the real estate developer breaches the contract and fails to deliver the house on time, the homebuyer has the right to terminate the deposit contract according to the contract, and the real estate developer shall return the deposit and bear the liability for breach of contract according to law. Local governments should formulate model texts for housing deposit contracts based on their actual conditions.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.