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

china property