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Land bids point to property boom in China cities

Unit prices far exceed those of nearby homes as developers have to meet low-cost housing quota


IN the Chaoyang district of north-east Beijing, a nondescript wall covered in patriotic posters protects one of the city's most valuable treasures: a dirt field containing nothing but a few scattered trees.

Last month, the block sold for 3.3 billion yuan (S$720 million),

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