The city of Wuhan in Hubei province, where a plot sold for a record 11 billion yuan. Photo: Xinhua

Record land prices defy Beijing’s cooling efforts

A shortage of new plots in major cities has developers in a bidding war

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The city of Wuhan in Hubei province, where a plot sold for a record 11 billion yuan. Photo: Xinhua
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Sidney Leng

Sidney Leng

Sidney Leng joined the Post in 2015 after spending a year and a half working for US media, including National Public Radio and Foreign Policy Magazine. He has been covering China's macroeconomic policies and financial regulations since 2016.