High land prices have pushed up the value of plots such as this rice field on the outskirts of Shanghai, Photo: Bloomberg
High land prices have pushed up the value of plots such as this rice field on the outskirts of Shanghai, Photo: Bloomberg

How China’s most contested land auction drove developers into a frenzy

Luck mattered more than money for hundreds of property developers bidding on eight plots of land put up for auction by local governments in Jiaxing

High land prices have pushed up the value of plots such as this rice field on the outskirts of Shanghai, Photo: Bloomberg
High land prices have pushed up the value of plots such as this rice field on the outskirts of Shanghai, Photo: Bloomberg
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