3. Funds for deluxe real estate development projects shall be strictly administered, and investment funds included in the national budget shall not be used for such projects. All the existing bank loans for real estate shall be administered as loans for investments in fixed assets, and shall be included in the national plan for investments in fixed assets and no loans shall be granted outside the plan. It shall be strictly prohibited to grant loans for real estate development projects in the forms of circulating funds and mortgage loans, or using the call money for borrowing.
4. Administration of the use of land for real estate construction shall be strengthened by strictly implementing provisions of the “Land Administration Law of the People's Republic of China” and the “Law of the People's Republic of China on Administration of Urban Real Estate”。 The requisition, appropriation or transfer of rights to use state-owned lands by people's governments of cities and counties must be submitted for approval in accordance with application procedures and limits of authority for approval specified by the “Land Administration Law of the People's Republic of China” and by the State Council, and no examination
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