In 2009, the Yujin Street project was put up for bidding by the Qingyuan City government. Since it was a government-led project as well as for public welfare, the government decided to offer concessions to the developers. First, the starting price for the land was set at 250,000 RMB per mu (a unit of land area in China, equivalent to 1/15 of a hectare), while the market price for surrounding lands was around 300,000 RMB per mu at that time. Second, the developers were allowed to use about 80 mu of land in t
