A public land auction in Shenzhen. SOEs are coming under scrutiny for paying vastly inflated prices to win valuable chunks of prime land. Photo: Ricky Chung, SCMP

‘Land kings’ rear their heads once again, snapping up the best parcels, regardless of price

Finance Ministry data shows in the first five months, local government land sales totaled 1.17 trillion yuan, an 8.3% rise on a year ago

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A public land auction in Shenzhen. SOEs are coming under scrutiny for paying vastly inflated prices to win valuable chunks of prime land. Photo: Ricky Chung, SCMP
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