Guangzhou city in China has called off the auction of some land plots for the second time in two weeks.
The Guangzhou Municipal Land Resources and Housing Administrative Bureau stated that the local authorities cancelled the auction for 12 of the 18 land plots without offering any explanation for the termination.
The bureau added that the city also called off the auction of three plots on 22 October.
Similarly, the city of Wuhan also deferred the auction of nine land plots twice last month, according to the official Xinhua News Agency.
Premier Wen Jiabao has sought to curb the nation’s property market due to fears that the property bubble may stump economic growth and escalating prices may prompt social unrest, as fewer citizens are able to afford homes.
Mr Wen added that measures to curb the property market will remain.
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