Guangzhou is the latest city to lift benchmark land prices, with some districts in the city announcing that they would more than double the benchmark price after a public hearing held on Aug 2. This is the first time that benchmark land prices have been adjusted in Guangzhou since Jul 2009. Other cities, including Wuhan, Sanya and Rizhao lifted their benchmark land prices in July this year and other cities such as Ningbo are also said to be preparing to raise prices this month. Before this most-recent round of price adjustments, many cities were still using the benchmark land price set by local governments in 2008 or 2009.
 
Source
Economic Observer Online
 
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