Construction site in front of newly built residential buildings in Yongkang, Zhejiang province. Local governments have urged China’s state-owned enterprises to prop up the market, driving land prices to record highs. Photo: Reuters
Government not serious about lower home prices, developer says
Industry players believe Beijing wants land prices to stay high to ensure stable revenue for local authorities despite vows to cool market
Construction site in front of newly built residential buildings in Yongkang, Zhejiang province. Local governments have urged China’s state-owned enterprises to prop up the market, driving land prices to record highs. Photo: Reuters
