South China Morning Post with the report, the moves are meant to bolster land sales, helping the troubled property sector.
Shenzhen is one of the first among China's local authorities to relax rules, aimed at bolstering land sales and supporting the troubled property sector.
- "It is good for developers' cash flow as they can sell affordable homes while public rental homes are only for collecting rent," said Yan Yuejin, director of E-house China Research and Development Institute. "The change is to lure more developers to purchase lands. Many of them struggled with their liquidity and chose to sit aside last time, and we saw many land withdrawn in the second round of land auctions."
