房地产开发企业从获得土地到顺利完成项目开发建设均需要大量资金,而随着政府连续出台严厉的调控政策,房地产行业原有的银行、信托等融资渠道逐渐收紧,而私募基金则在近年来大规模发展,为此房地产和私募基金顺势结合。我们理解,地产私募基金是通过为房地产开发企业提供项目资金融通、风险管理等增值服务,通过被投资项目销售、转让、租赁和资产证券化等方式回收资金、获取收益的私募基金。与一般私募基金相比,地产私募基金在法律适用、监管合规、投资方向、管理运营等方面均具有自身的特点。
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By Stuart Dixon-Smith and Scott Heezen   King & Wood Mallesons’ Sydney office.

A number of tax concessions are available for Australian investment vehicles that qualify as managed investment trusts (MITs) for tax purposes. These concessions are designed to encourage investment into Australia, particularly Australian real estate, by both resident and non-resident investors.

A trust must satisfy a number of requirements in order for it to qualify as a MIT and access these concessions.
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By Yuan Min, Wang Jianzhao , and Kirby Carder, King & Wood Insurance Department, Beijing Office

Last Sunday during a press conference held during the National People’s Congress, China Insurance Regulatory Commission (CIRC) Chairman Wu Dingfu announced that the CIRC is currently creating its policy for the use of insurance premium funds to invest government subsidized affordable housing projects. He specifically stated that China does not have a legal barrier to insurance companies investing insurance funds in affordable housing projects, and he also said that the CIRC plans making Shanghai the first city where this is possible. However, he cautioned that the main priority in insurance fund investment must still be risk management because any investments must provide a return so that an insurance company’s duty to pay its policyholders claims can be met.


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By Zhang Tianhui, Editor, King & Wood’s Publication Group

As China’s economy continues to develop, the administration of developments in urban and rural areas of China requires a more focused approach to ensure the harmonious development of each area’s economy along with the preservation of local culture, heritage and infrastructure needs. The new system provides localities with guidelines to ensure nationwide consistency while providing a certain amount of autonomy to allow for specific local needs.


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