
Mainland China Increases Proportion of Construction Progress Payments for Government Related Projects
In June 2022, the Ministry of Finance (“MOF”) and the Ministry of Housing and Urban-Rural Development (“MOHURD”) jointly released the “Circular on Improving the Methods for the Settlement of Construction Price”, which became effective on 1 August 2022. Mainland China has long regulated the proportion of the contract price in government projects, which must be … Read more