WUHU, CHINA-The Anhui Salt Industry Corp., a state-owned company, has now entered into real estate business. The company is building Platinum Bay, a complex of luxury high-rise towers.
In line with Anhui Salt, the China Railway Group is into a residential project in Beijing. According to Beijing land records, 82% of land auctions in 2010 were won by government entities. A National Bureau of Economic Research study found that land prices soared nearly 750% since 2003 in Beijing. For the full story, go to NY Times.
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