As Home Prices Soar in Shanghai, Gov't Halts Land Auction

(Shanghai) – Authorities in Shanghai have suspended the auction of a plot of premium residential land as the city government comes under pressure to rein in housing prices.

Shanghai's planning and land bureau issued a notice on October 12 that said it is halting the planned auction of a 14.85 hectare plot of land in the Yangpu District because "more preparations are needed to have the land developed."