China will sharply raise fees and taxes related to land sales, according to the Ministry of Land and Resources. The move could increase prices of some industrial land by 40% to 60%, according to some analysts. The report comes after the State Council (Cabinet) issued guidelines calling for stricter curbs on land use and an increase in fees and taxes on land used for construction in order to control investment. The land-use fee for new construction projects would be doubled and fees paid by developers to compensate tenants facing relocation would also be doubled. Taxes on urban land would be tripled. (Source: ITTOs Tropical Timber Market Report)