It’s rare for the Chinese authorities to withhold a land security deposit for an alleged breach of the rules during the bidding process. Photo: K. Y. Cheng

Shanghai developer CIFI’s over 370 million yuan land bid deposit forfeited by government

Rare punishment for breach of rules at the bidding stage is seen as harsh by analysts, as authorities increase regulation of overheated property market

Topic |   China property

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It’s rare for the Chinese authorities to withhold a land security deposit for an alleged breach of the rules during the bidding process. Photo: K. Y. Cheng
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