Land prices fall but not in Beijing

The average land prices in 70 major cities fell 31 percent in March over February, as China's measures to curb property prices have started working. That's according to a report by the China Land Surveying and Planning Institute.

The report shows land supplies in 70 large and medium-sized cities were rebounding in March, and market transactions remained active. But prices for residential use and their premiums in Beijing continued to surge. The sharp rise of housing prices in 2009 is triggering fears about possible bubbles and widespread public grumbling.