| From Chinapost.com.tw: An auction of land in Beijing was cancelled after bidding exceeded a price ceiling set for the lot as the Chinese government expands efforts to rein in the nation's property market.
The highest price bid for the Beijing lot, zoned for residential development, at the April 26 auction was 4,718 yuan (US$691) per square meter, exceeding the 4,700 yuan per square meter limit set by the government, the Ministry of Land and Resources said on its Web site Wednesday. The ministry's Beijing branch said it began setting limits on the price of land this month on a trial basis........................................Full Article: Source
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