When local governments auction land, there is a basic price, which is called the base price of land  The ratio of the amount that exceeds the base price of land to the base price of land is called premium rate  The premium rate indicates the popularity of the land market and the property market  There is a piece of land in City B that was temporarily suspended during its first listing this year because the premium rate will hit a record high
The second listing ended up trading at a premium lower than the first listing, but the total amount of the transaction exceeded the amount that could be achieved the first time
At present, the proceeds from land auctions are an important source of finance for local governments.