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Land Price Up 6.08% in Major Cities

The overall land prices in China grew 6.08 percent in 2004 to 1,198 yuan (US$145) per square meter, the Ministry of Land and Resources said Saturday.

In a report on price changes in 51 medium and large Chinese cities, the ministry said that the overall land prices in southeast China were the highest at 1,621 yuan per square meter while the prices in northwest China were the lowest at 777 yuan per square meter.

However, land prices in central, southwestern and northeastern regions registered higher growths than the nation's average, standing at 9.24 percent, 10.56 percent and 7.25 percent, respectively.

In Beijing and the northern port city of Tianjin, the overall land prices grew 5.76 percent to 2,009 yuan per square meter, of which, the prices of land for commercial, housing and industrial development were 3,875 yuan, 1,746 yuan and 520 yuan, per square meter, respectively.

Overall land prices in the Yangtze River Delta region rose 6.9 percent, with land price for housing jumping 12.16 percent to 1, 540 yuan per square meter.

The report attributed land price growth mainly to strong demand and the country's tightening of land policy, predicting that land prices will continue to grow steadily in 2005.

(Xinhua News Agency February 6, 2005)


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