Hundreds of Chinese Islands For Sale

Hundreds of Chinese Islands For Sale

People in China who have dream of owning an island may finally be able to make those dreams come true. Citing sources from the Shandong Provincial Oceanic and Fishery Department, Shanghai’s National Business Daily reported that the provincial government is planning to recruit owners for more than 500 uninhabited islands off the coast of the eastern Chinese province. According to the plan, ownership rights will last for a maximum of 50 years and those granted ownership will have to begin development of their island within two years or lose their concession. A total of 589 islands, of which 557 are uninhabited, are under the jurisdiction of Shandong, according to information in a May 2013 document compiled by the provincial Oceanic and Fishery Department. Two years after developing uninhabited Taohua Island in Rizhao, the provincial government will begin on March 15 to take applications for acquiring uninhabited islands to boost local development, the National Business Daily learned.

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