Last month we reported on new laws that came into effect in China on March 12 this year, to allow 176 islands to be offered to Chinese and foreigners to rent or lease for prolonged periods of time, in accordance with certain restrictions. See:
http://www.privateislandnews.com/china-government-offers-uninhabited-islands-for-lease/
In the following article, the China Daily hears from officials, who are very up front with developers about what they can and can’t do with these islands, which have
Chinese archipelago
varying fixed uses. One thing is for sure, all island investors must have environmentally-friendly plans before they apply to develop an island.
It goes without saying that it is a huge financial and logistical undertaking, in which investors must bear the costs of connecting basic services like utilities and infrastructure to the islands, whilst not changing the main physical features.
The daily paper also talks to two locals who tell very different stories of their experiences developing islands. To find out more, see:
http://business.asiaone.com/Business/News/Story/A1Story20110601-281874/3.html
