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China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

 
epa04983790 Tower cranes dominate the scenery at a construction site in Beijing, China, 19 October 2015. China's economy grew 6.9 per cent year-on-year in the third quarter of 2015, below the 7-per cent target that the government has set for the whole of 2015, according to the State Statistics Bureau on 19 October 2015. EPA/WU HONG

State developer sets land price record in Beijing

A state-owned developer set a Beijing land price record of 75,000 yuan per square metre last week, adding fuel to an already heated debate about how to make a profit from such expensive plots of land.