同濟大学 TONGJI UNIVERSITY The Historical Evolution of the NPEs 3.third group of NPEs,end 1980s, comprised mainly of land speculators who purchased and sold land utilizing the price differences for the sole purpose of making profits these land speculators retarded the economic development accumulated its capital much more quickly and massively greatly reinforced the integration of both power and capital in China 1717 The Historical Evolution of the NPEs The Historical Evolution of the NPEs The Historical Evolution of the NPEs The Historical Evolution of the NPEs - comprised mainly of land speculators who purchased and sold land utilizing the price differences for the sole purpose of making profits 3. third group of NPEs, end 1980s, 3. third group of NPEs, end 1980s, 3. third group of NPEs, end 1980s, 3. third group of NPEs, end 1980s, - these land speculators retarded the economic development - accumulated its capital much more quickly and massively - greatly reinforced the integration of both power and capital in China