Over a whopping 60 percent of land acquisitions in China are illegal, according to the Chinese government.
In a statement published on its website on June 6, China’s Ministry of Land and Resources said that in some cities, as much as 90 percent of land acquired for construction purposes is illegal.
The ministry had also added that central government has decided to take action, and may very well strip the local officials of their power to approve changes in land use should these illegal acquisitions not be investigated.
The number of violations in land leasing continues to grow despite repeated moves by the governments to cool the construction boom that played a part in China’s swift economic growth in the last three years. Swelling investments and prices have increased the risk of a sudden collapse that could drive bad loans at banks up and cause an abrupt brake in the world’s fastest-growing economy.
Provincial counterparts of the ministry has already been demanded by the latter to expose a minimum of three cases this month, and at least more than eight cases by the end of 2006.
早く、法と秩序が中国のビジネスに根付いて欲しいものです。
MikeRossTky