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Falling home price changes Chinese family budget

Zhu Jianying feels lucky that he held off from buying an apartment in the first half of this year. The Beijing property he is looking at has fallen in price by around 80,000 yuan (12,600 U.S. dollars) since then. "It is not a big amount of money compared to the total price of one ...

250,000 illegal discs seized in Guangdong plant

Chinese authorities said Tuesday that they have confiscated more than 250,000 illegal compact discs made by a legally-registered plant in south China's Guangdong province. Police in the city of Shenzhen detained four suspects and seized seven production lines on Sept. 26, as well ...

China's farm produce prices rise

China's farm produce prices went up last week, concluding a six-week losing streak, in line with the production of most produce decreasing in winter, the country's Ministry of Commerce said Tuesday in a statement posted on its website. The wholesale prices of 18 staple vegetables ...

China targets US$600 bln of service trade by 2015

China will increase its efforts to boost service trade, targeting an annual growth rate of 11 percent to reach 600 billion U.S. dollars by 2015, the Minsitry of Commerce (MOC) said Monday. The goal, which was set by a five-year plan on service trade unveiled by the MOC on Monday, ...

China's building materials industry posts profit surge

Profits of China's building materials industry rose 57.5 percent year-on-year to 214.6 billion yuan (33.77 billion U.S. dollars) in the first nine months of the year, according to the National Development and Reform Commission (NDRC), the country's top economic planner. Of sub...

700 homes set to go on the market

About 700 housing units at four projects in Shanghai will go on the market over the weekend, compared with more than 300 units at three developments last weekend, according to data released yesterday by real estate website Soufun.com. The average price for the four developments ...

Post-80s lap up luxury goods

China's "post-80s" generation's appetite for luxury brands is making the country a vital market for high-end retailers, according to a new survey. The influence of post-80s - people born after 1980 - is set to grow, making China the most promising luxury market for tomorrow, ...

Firms prefer to wait-and-see

Fewer residential projects may be released in Shanghai in December as more real estate developers prefer to sit on the sideline with the approach of the year-end. Altogether 29 new developments - 22 apartment projects and seven villa developments - are due to be launched for sale ...

Yum! Brands to open fast-food chain in gas stations

The parent company of both KFC and Pizza Hut, Yum! Brands Inc., announced Wednesday it has signed a deal with Sinopec Corp. to open chain restaurants in China's most spreading Sinopec gas stations. Zhu Zongyi, president of Yum! Brands China Division, said Sinopec gas stations ...

Return to reason for real estate

There may have been doubts there was a real estate bubble in China a few years ago, but it is obvious now. The average house price has tripled between 2005 and 2009. In some cities like Shanghai and Beijing, house prices increased by more than 40 percent in 2009 alone, and an ...

China likely to relax property policies in Q3 2012

China will likely loosen its restrictions on the country's property market in the third quarter of next year, as plummeting prices could slow the growth of the economy, according to a university report. Property prices, sales and investment will fall in the first quarter of next ...

Int'l real estate funds rush to enter China

International real estate funds, lured by the growing opportunities provided by a correction in the Chinese real estate market and an industry reshuffle, have quickened their pace in entering the market. The Hong Kong-based CITIC Capital Holdings Limited announced this week that ...

More cities post home price declines in October

More Chinese cities posted monthly home price declines in October following the government's campaign to calm the runaway property market. In October, 34 of the statistical pool of 70 major cities saw declines in new home prices from September, compared with 17 in September, the ...

McDonald's says group-buy offers fake

McDonald's on Monday confirmed that it has not signed any deals with group-purchase companies, despite its discovery that discounts for its products were sold on one of China's most popular group-buying websites. "We did not authorize any site to introduce offers for our products...

Home sales down 18% in Jan-Oct in Beijing

Amid government efforts to cool down the property market, commercial home sales in Beijing witnessed a 17.8 percent fall year on year to 6.97 million square meters during the January-October period, the Beijing statistics bureau said in a statement Monday. Earlier this year, the ...

Beijing house prices tumble 5.1%

Prices for new residential apartments in Beijing have stumbled 5.1 percent year-on-year in the first 10 months of 2011, as authorities' measures to cool the sizzling property market took hold. The Beijing Real Estate Association reported on Friday that the average price for ...

Online sales of 3C products fall in Q3

Sales of computer, communication and consumer electronics (3C) products by China's online retailers in the third quarter of 2011 showed a decline for the first time in three years, according to new statistics released Thursday. The 3C sales value amounted to 36.84 billion yuan ...

New home inventories rise as sales fall

The inventories of new homes in 20 major Chinese cities jumped nearly 29 percent year on year in the third quarter of this year even as sales plunged, a latest industry research has found. The inventory levels increased substantially by an annual 28.8 percent in the 20 cities ...

Investor confident of Iceland land sale

Businessman Huang Nubo believes he has an 80-percent chance of winning approval to buy an area of northeast Iceland to build a luxury resort, he told China Daily in an exclusive interview. Huang, 55, is expecting the result to be announced by the end of this week, he said. The ...

Beijing to revoke qualifications of 477 real estate enterprises

The Beijing Municipal Commission of Housing and Urban-Rural Development will revoke the qualifications of 477 real estate enterprises, said a statement released by the commission Thursday. These real estate enterprises did not apply for extensions after their qualifications ...
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