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 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
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

China property

Business

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
Summer Zhen
Summer Zhen

Updated: 8:46pm, 20 Jul, 2018

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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 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
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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