Revenues from sales of land by local government to real estate developers in 300 cities in China amounted to RMB 2.3225 trillion ($0.34 trillion) in the January-July period this year, up 23.0 percent year on year, as announced by the China Index Academy, a Beijing-based real estate research institute.
In July alone, revenues from sales of land by local government to real estate developers in the 300 cities in China amounted to RMB 395.8 billion ($58.5 billion), rising by 9.0 percent year on year.