50 flashbacks signal reform (III)

: 0 Comment(s)Print E-mail China.org.cn, October 15, 2014

Real estate businessman Luo Jingxing wins the bidding for a piece of land in the Shenzhen Special Economic Zone for 5.25 million yuan on Dec. 1, 1987. This was the first auction of land resources in China. Four months later, the National People's Congress amended the constitution, allowing for the free transfer of land in accordance with the law.