Revised draft might encourage land hoarding

BEIJING - The publication of a revised draft on idle land, released by China's land watchdog on Wednesday, is worrying industry insiders. They feel it might intensify the trend of land hoarding.

This is the first time since 1999 that the Ministry of Land and Resources is considering a revision of the rules. The revised draft, published on the ministry's website, is open to public comment until Jan 15.

According to the 1999 rules, real estate developers were supposed to begin construction on plots of idle land within three months after receiving a government notice, else lose their right to develop the land with no compensation from the government.