Hangzhou moves to rein in land prices

The Hangzhou local government has imposed new measures in an attempt to keep the lid on record-high prices paid for land sites and aid Beijing in its efforts to cool the property market.

"They want to control the land price. Property prices will stay at a high level or rise further if land prices continue to go up," Alan Chiang Sheung-lai, head of DTZ's mainland residential property section, said.

via Business feed http://www.scmp.com/business/china-business/article/1063540/hangzhou-moves-rein-land-prices