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Xinhua: China to Control the Rapid Growth of Land Prices

On December 19, 2010, Xinhua reported that the Ministry of Land and Natural Resources had just released new regulations requiring local government branches to enforce real estate administrative policies and to “decisively” stop the recent rapid increase in land prices. The Ministry pointed out that the health of the current real estate market is “facing a complex situation.” The entire society can see how land prices have been increasing in a number of cities. The Ministry called for “strong strikes” against land hoarding and speculation. The new regulations also prohibit changing the use of land into government-subsidized land for low-income housing projects.

Source: Xinhua, December 20, 2010