Chinese developers squeezed by drop in property sales income have slowed their pace in acquiring new land sites. Photo: Shutterstock

Beijing first failed land sale in two years shows developers’ woes

Two other residential plots have been sold at zero and less than 1pc premium to the starting bid prices

Topic |   China Land Sale

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Chinese developers squeezed by drop in property sales income have slowed their pace in acquiring new land sites. Photo: Shutterstock
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Zheng Yangpeng

Zheng Yangpeng

Zheng Yangpeng is a business reporter at the Post, covering China property, banking and finance. He previously worked for China Daily, joining the Post in 2016. He holds a Bachelor's Degree in Journalism and Communication from Peking University, and a Master's Degree in Global Business Journalism from Tsinghua University.