Beijing suspends land sales

Land sales of prime lots have been suspended in Beijing in a bid to stabilize the capital's property market.

The Beijing Municipal Bureau of Land and Resources suspended sales to tighten control of land bidding competition and set reasonable prices.

Property developers bidding for land have been urged to take responsibility and build affordable housing or other public infrastructure construction.

The bureau also announced this year Beijing plans to provide 1,250 hectares of land for government-funded housing projects.