Time for Overhaul of China's Land Market
The expected launch of land reform is dividing opinions. At a work meeting this month, the minister of land and resources, Jiang Daming, said the central government would limit land supply in cities with more than five million residents. His words ignited a storm.
To be fair, he spoke in the spirit of the resolution from the recent third plenum of the Communist Party's 18th Central Committee. At a work meeting on urbanization last month, leaders made it clear that the focus of urbanization in the country's three major centers would be on making better use of the land already at their disposal. "Not every town or city needs to grow huge," they stressed.
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