In line with the spirit of the Conference on Central Economic Work held in November 1994, the current scale of investments in fixed property should be further controlled, rational adjustments should be made to the investment structure, the real estate industry should be promoted in a healthy and orderly manner, and deluxe real estate development projects should be strictly controlled. Therefore, the following notice is hereby issued:
1. The examination and approval of deluxe real estate development projects shall be strictly controlled. Therefore, no approval shall be granted in 1995 for the registrations and the start-ups of construction of the following types of deluxe real estate development projects, and thereafter all examinations and approvals shall be strictly controlled: (1) deluxe villa-like residential housing and holiday villages; (2) projects involving apartment complexes, office buildings with projected construction costs per unit space one time higher than ordinary local residential housing and office buildings; (3) the construction of guest houses, hotels rated at or above four star (or an equivalent) level.
In addition, new golf courses, buildings replicating ancient cities, amusement palaces and etc. shall be strictly prohibited.
2. Deluxe real estate development projects shall be examined and approved in accordance with procedures for capital construction and the limits of specified autho
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