law - On purchasing land in China

A press release by the financial group Kardan drew my attention today. It says:

Kardan N.V. (Kardan) announces that its real estate subsidiary, GTC Real Estate N.V. (GTC RE), has won a governmental tender for the acquisition of a 42.3 hectare land site in Xianyang to be developed into approximately 800,000 sq.m of residential and commercial space and a hotel.

There are still some lose ends, like formal government approval for this real estate project in Shaanxi province, close to its capital Xi'an. Unless I have missed some dramatic legal changes, the press release is incorrect: in China nobody can purchase land. Land is always owned by the government, although it can be leased. Important is then to know the length of the lease period. But this looks weird to put it mildly.