A land buying binge by local government-backed companies may slow down after Beijing warned against the practice, depriving China’s bruised real estate sector of a potential lifeline. Photo: Reuters
China property crisis: Beijing’s crackdown on local government land buying may deprive market of lifeline
- A land buying binge by local government-backed companies may slow, depriving China’s bruised real estate sector of a potential lifeline
- In the first nine months, land sales plunged 60 per cent as private developers who are struggling to pay their debts stayed away
A land buying binge by local government-backed companies may slow down after Beijing warned against the practice, depriving China’s bruised real estate sector of a potential lifeline. Photo: Reuters
