China curbs housing development to fight supply glut

Land sales restrictions could hit 40% of big cities, hurting key income stream

20240606N Beijing condos

High-rise condominiums outside Beijing. Many cities are grappling with an oversupply of housing. (Photo by Mizuho Miyazaki)

KENTARO SHIOZAKI, Nikkei staff writer

BEIJING -- China has moved to bar housing construction in some areas in its latest attempt to shrink a mountain of unsold homes that is weighing on prices.

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