Caixin OnlineBusiness & IndustryTop Stories Industry SOE Sets 2012 Record for Land Purchase
12.03.2012 15:27

SOE Sets 2012 Record for Land Purchase

Deal by China Metallurgical Group subsidiary comes after government told SOEs to get out of property market
By staff reporter Li Yuqian

(Beijing) – A recent purchase by a state-owned enterprise (SOE) has set a record for the highest price paid for a parcel of land this year and serves as a reminder of SOEs' continued involvement in the property market.

A subsidiary of China Metallurgical Group Corp., paid 5.62 billion yuan on November 30 for a plot in downtown Nanjing, in the eastern province of Jiangsu.

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