Land sales surged in 2013
Record revenues from land sales last year were a mixed blessing for heavily indebted local governments on the mainland.
They worry the central government will be provoked to launch a fresh round of curbs to prevent overheating of the property market.
Their worries may not be without basis as land prices soared 35 per cent and home prices in major cities surged more than 20 per cent last year. Prices remain firm and show hardly any signs of falling despite a series of tough measures to cool the market.
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