(Yicai Global) Dec. 1 -- Land lease revenues in 50 major Chinese cities grew by 37.3 percent to over USD454.1 billion (CNY3 trillion) over the past 11 months, representing an all-time high, statistics from Hong Kong-based real estate agency Centaline Property show.

Such revenues in Beijing and Hangzhou surpassed the CNY200 billion mark during the period, reaching CNY260.9 billion and CNY202.9 billion respectively, Chinese financial newspaper STCN reported yesterday.

Nanjing, Suzhou, Chongqing, Shanghai and Tianjin saw total land contracts worth over CNY100 billion in the eleven months.

Leasing revenues in eighteen major cities were more than CNY50 billion, while those of 48 cities exceeded CNY20 billion, both representing historic highs. More than 10 cities will post total leasing deal values close to or exceeding CNY100 billion for the whole year, Centaline Property forecasts.