China's land supply increases 44% in 2009

China's Ministry of Land and Resources says 320 thousand hectares of land was supplied nationwide in 2009, up 44 percent year on year. And the approved land supply was 507 thousand hectares during the same period.

According to the Ministry of Land and Resources, of the 507 thousand hectares of land supply, 97 thousand hectares were approved for use in infrastructure, while 10 thousand hectares were approved for welfare housing and 65 thousand hectares for standard commercial housing. That represents year-on-year growth of 53 percent, 39 percent and 37 percent, respectively.

The regulator says it will launch a nationwide campaign to stop the hoarding of land by real estate developers in China, and to keep housing prices from rising too fast.