Beijing tightens control over land – Richard McGregor

From the Financial Times:

Tightening control of the release of land for development has emerged as one of Beijing's key weapons to rein in the surge in investment behind economic growth of nearly 11 per cent in the first half of the year.

The announcement of stricter rules for developing land coincided with the publication of a speech by Hu Jintao, China's president, who reaffirmed the government's resolve to "control the scale of fixed asset investment".

Mr Hu's speech, delivered on Friday but released on Monday, contained "six requirements" for meeting Beijing's economic goals, ranging from lifting domestic consumption to investing in rural infrastructure. [Full text]


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