The Government has proposed a draft amendment to the Land Law comprising seven policy groups, concerning land financial mechanisms and land pricing. Under the proposal, land prices would be determined by the State based on land use purposes, land use duration, input data, and relevant legal regulations.
Additionally, land data would be interconnected and shared with data from other sectors and fields. This measure is expected to help regulate the market, curb price manipulation and the formation of artificial price bubbles, and ensure the appropriate redistribution of value-added gains derived from land, according to the Government proposal.
