Revenues from sales of land by local government to real estate developers in 300 cities in China amounted to RMB 1.9597 trillion ($0.29 trillion) in the January-June period this year, up 28.0 percent year on year, as announced by the China Index Academy, a Beijing-based real estate research institute.
In particular, revenues from sales of land for residential purposes in the 300 cities in China amounted to RMB 1.6032 trillion ($0.24 trillion) in the given period, up 30.0 percent year on year.