South China Morning Post (may be gated) with this dour news:
- Major Chinese cities see more land auctions being scrapped, as broke developers hobbled by ‘three red lines’ stay away
- The average auction scrapping rate is 17 per cent for 20 cities that have finished their first round of land sales, rising from 6.5 per cent last year
- Developers are hesitant as they are unsure about the housing market in the short term and because they do not have much to spend, analyst says
More at that link
