Beijing's land auction attracted a total of 3.346 billion RMB, with new developments in the CBD after a long period of stagnation. However, the real estate market showed a lackluster performance after the implementation of the new policies.

On September 5th, the city of Beijing successfully auctioned off two parcels of land. The consortium of City Construction Development, Beijing Construction Engineering, and ZTE Jindiliang won the Fengtai District Yuegezhuang Village A area shanty town renovation project DC-L01 land parcel for 2.9 billion yuan, with a floor price of about 50,000 yuan per square meter. Shoukai acquired the Chaoyang District Hujialou Nanli CY00-0310-9001 and 9002 land parcels for 4.46 billion yuan, with a transaction floor price of about 81,000 yuan per square meter. It is worth noting that both parcels of land were sold at the base price. Several industry insiders interviewed stated that the locations of the two parcels of land released this time are very superior, aiming to attract developers to compete actively and enhance the heat of the regional land market and real estate market. The fact that the parcels were sold at the base price reflects the pressure that real estate companies are facing financially, and their cautious attitude towards land acquisition.