Mainland authorities will raise minimum prices for industrial-use land from next year in an attempt to rein in runaway investment.
The Ministry of Land and Resources has issued minimum prices for industrial land across the nation, ranging from 60 yuan per square metre in the west to 840 yuan per square metre for prime Shanghai locations.
Shanghai's nine downtown districts are ranked in the first, highest-price grade. The city's Pudong district and Beijing's eight districts fall into the second category with a floor price of 720 yuan per square metre, followed by 600 yuan in Shenzhen and Guangzhou.
The country's western areas, including Tibet and Yunnan , are the lowest priced of the 15 categories at 60 yuan per square metre.
'The new standards are significantly higher than the current price for industrial land,' the ministry said on its website, without providing additional details about the increase.
The ministry said there was a serious problem with some local governments selling land for industrial projects very cheaply or even at 'zero price'.