The World - News from April 25, 1988
Foreigners will be able to participate for the first time in a land auction in China’s Shenzhen special economic zone bordering Hong Kong, the official China News Service reported. The agency, monitored in Hong Kong, quoted Shenzhen’s land commission chief, Liu Jiasheng, as saying that either institutional or individual investors will be allowed to bid for two pieces of land to be auctioned on May 25. The successful bidders will have rights to the land for 50 years, the agency said. Shenzhen is one of several special economic zones designed to attract joint venture projects with overseas investors.
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