The government is working to rein in land speculation. Authorities in Beijing and Guangzhou are cracking down on companies guilty of stocking piling land in downtown areas.
In order to better regulate China's real estate market, major cities like Beijing and Guangzhou are implementing a series of measure to clean up unused lands, and punish developers' that are stocking up on lands.
Over in Guangzhou, the municipal government has issued an ultimatum to three developers for stocking piling land. The three developers have together accumulated more than 84,000 square meters of unused land, mainly located in the city's downtown areas.
