Across China: Zhejiang
China Daily | Updated: 2008-07-02 07:37
Rigged real estate prices
A real estate developer in Zhejiang province, famous for its sky-high price Xihu Mingyuan buildings in Hangzhou, has been fined 150,000 yuan ($236,000) by Hangzhou price regulators for price rigging.
Yitong Real Estate Company deliberately set out to deceive potential buyers, as in its brochure homes were stated to be only 200 m from Xihu Lake, while the actual distance, after being measured, is 722 m.
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