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The municipal government of Shanghai gained 65.2 billion yuan ($9.55 billion) from selling land in the first three quarters of this year, local newspaper Oriental Morning Post reported today, citing a research report by the Centaline Property Limited Agency.

Beijing ranked second in land sales in the first nine months of this year, with revenue of 57.1 billion yuan. Tianjin, half an hour away by train from Beijing, ranked third, gaining 40 billion yuan.