Legal basis: Civil Code of People's Republic of China (PRC).
Article 703 A lease contract is a contract in which the lessor delivers the lease item to the lessee for use and profit, and the lessee pays the rent.
Article 704 The contents of a lease contract generally include terms such as the name, quantity, purpose, lease term, rent, payment term and method, and maintenance of the lease item.
Article 705 The lease term shall not exceed 20 years. More than twenty years, the excess is invalid.
At the expiration of the lease term, the parties may renew the lease contract; However, the agreed lease term shall not exceed twenty years from the date of renewal.
Article 706 Failure of the parties to go through the formalities of registration and filing of the lease contract in accordance with the provisions of laws and administrative regulations shall not affect the validity of the contract.