"China’s real-estate market sees land sales plunge"

"...Total land sales fell to 1,767 transactions in May in 300 Chinese cities, down 45% from a year ago and 19% lower than in the previous month...

In the same month, the total transaction value for land sales dropped 38% year-on-year, marking a 30% drop from April, to 13.75 billion yuan ($2.2 billion)."

http://www.marketwatch.com/story/chinas-real-estate-market-sees-land-sales-plunge-2014-06-09