China State Developers Step Up Land Buying: FT

State-owned developers are rushing to the rescue of cash-strapped local governments in China by stepping to the fore at land auctions previously dominated by private sector groups, the Financial Times reported.

Over the past three months state developers have bought three-quarters of residential land sold at auctions in 22 big cities by value, according to a Financial Times analysis of public records.

They had previously purchased only about 45% of land plots sold at auctions, which is the biggest source of income for local governments.

Read the full report: Financial Times

China Could Nationalise Real Estate, Researcher Says

China Land Sales Fall for Second Consecutive Month

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.