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The Liaoning Department of Finance and Natural Resources issued a statement listing the "user fees" for the desert islands. Although the islands, like most land and resources in China, are owned by the government, they can be rented out to private individuals. According to the Chinese state news agency Xinhua, their price equals only $535 per hectare per year, CNN reported.
Liaoning has the largest number of islands in northern China - 633 in total, 44 of which are inhabited and the remaining 589 are empty. Although some islands are located on the coast of the Yellow Sea, many are scattered along the Yalu River, which separates the province from neighboring North Korea. The capital of Liaoning, Shenyang, is located about 690 km eastwards from Beijing.
According to the report, the cost of the islands could be as high as $ 3.62 million per hectare per year. The price depends on several factors, including how much the owner plans to develop the territory and for what purposes. The lowest price - $ 535, if you choose the island with the lowest rating on a six-level scale, which is formed depending on "socio-economic development": the higher the rank is, the more expensive is the land.
If the new owner wishes to be engaged in reclamation or other types of land development, this can raise the price by 20 times. Also, the price will depend on the type of use of the island: tourism, agriculture, fishing, renewable energy, urban development, etc. There are nine possible categories, each with a different price tag. According to state-run media outlet Global Times, tourism and entertainment are the most popular choices.
The aim of the new proposal is to provide better protection for the islands, which means that potential tenants must go through a long and rigorous application process. The tenant will be required to provide project reports in order to demonstrate environmental compliance as well as specific development and use plans.
In recent years China has gained international attention due to a surge in dredging and land reclamation to build artificial islands that ecologists say are damaging marine habitats and ecosystems. In 2018, following appalling environmental impact reports, the government announced it would stop approving commercial land reclamation, and a year later began an initiative in order to restore coral reefs damaged by land reclamation.
By the way, China has forbidden to build skyscrapers over 500m high. The country's real estate market has quickly recovered from the crisis and for the present moment the housing sector supports the local economy.
Photo: pixabay.com
