Revenues from sales of land by local government to real estate developers in 300 cities in China amounted to RMB 380.1 billion ($60.3 billion) in January, down 40 percent month on month, 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 300 cities in China amounted to RMB 303.2 billion ($48.1 billion) in January this year, down 39 percent month on month.