City 'not loosening rules' on land deals

SHANGHAI: Officials and analysts have played down recent news reports that the city has been loosening rules on foreign investors buying land.

Media outlets in Shanghai and Beijing have interpreted this year's No 1 land tendering notice from the Shanghai municipal housing land & resources administration bureau as evidence of a relaxation.

The announcement, which was released before the May Day holiday, says foreign nationals, legal representatives and other organizations are qualified to participate in land bids.