China is widening curbs on the nation’s soaring home prices by temporarily halting land auctions in some major cities, potentially hurting a key source of cash for local governments.
Several large Chinese cities recently suspended centralized land sales, according to official notices, after attempts to limit the number of auctions per year backfired. China has also stipulated that the price premium for land should be capped at 15%, Citigroup Inc. analysts including Griffin Chan wrote in an Aug. 11 note after market rumors about the policy change.
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