First Land Auction Since 1949 Planned in Key China Area
The Shenzhen Special Economic Zone, China’s showcase for economic liberalization, is planning a public land auction next month, the pro-Beijing newspaper Ta Kung Pao said Saturday.
The paper said the auction, the first since 1949, is part of China’s plan to reform its land policy, and the Shenzhen zone, bordering Hong Kong, has been chosen for the experiment.
It quoted an unnamed vice mayor as saying that current land policy can no longer meet the requirements of a market economy in the special zone, which was set up in 1980.
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