A report released by the China Index Academy on September 2 shows that land transfer fees in 300 cities in China totaled 431.1 billion yuan in August, a decrease of 23% from the previous month. Of the 300 cities, Shanghai, Ningbo and Beijing were the three cities with the highest land sales revenues in August. The revenue of Shanghai's land sales reached 37.97 billion yuan, up 332% year-on-year, ranking first among cities. The revenue of Ningbo’s land sales, slightly behind Shanghai, was 35.64 billion yuan, up 105% year-on-year. Beijing ranked third, with land sales revenue of 25.68 billion yuan, up 259% from a year earlier. Previously, in the ranking of land sales revenue nationwide for the first half of 2020 released by China Real Estate News, the income of land transfer in 300 cities nationwide amounted to 2,371.6 billion yuan, a year-on-year increase of 3%. Among them, Hangzhou topped the list for the three consecutive years with land sales revenue of 170 billion yuan. Shanghai (130.5 billion yuan), Beijing (114.3 billion yuan), Guangzhou (98.9 billion yuan) and Suzhou (88 billion yuan) ranked second to fifth respectively. In the first half of this year, Wenzhou, Fuzhou, Nantong, Changzhou and Jinhua were among the top 20 cities, while Shenzhen was in the middle tier and some cities, such as Wuhan and Tianjin, saw a sharp drop in land sales revenue. Judging from the data of urban land sale revenue in the first half of the year and August, there is a still a strong positive correlation between the scale of land transfer fee and the degree of urban economic development.