Caixin
Apr 22, 2023 02:34 AM
BUSINESS

Bidders in Guangzhou Land Sale Cry Foul on Lottery Results

China Resources Land’s parent company ranked 70th on the 2022 Fortune Global 500 list.
China Resources Land’s parent company ranked 70th on the 2022 Fortune Global 500 list.

Developers bidding for land-use rights in the southern China city of Guangzhou cried foul after state-owned China Resources Land Ltd. won two parcels Thursday in auctions decided by lottery.

The losing bidders raised the possibility of fraud, refused to accept the results and hired lawyers to push the Guangzhou Public Resources Trading Center to investigate the lottery. The lottery site at the center was sealed, including the ping pong balls used in the drawing.

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