Beijing land sales surge 914% in July

The Chinese government is either losing control of the economy (inflation) or the Beijing government is desperately in need of revenues (deflation).

New home sales were down slightly (0.2%) from June, but land sales surged 914% to ￥9.4 billion. Existing homes sales climbed 25.8%. The rise in land sales was partly explained by the government offering better plots.

No English article that I can find at this time. Here is the Chinese: 7月北京土地收入大涨914% 新房成交量高位企稳