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Property curbs to remain despite price drop

Despite recent signs of homes getting more affordable, China's war against its stubbornly high property prices looks set to be a long one, as the government has repeatedly pledged to continue its market curbs until it comes to a "reasonable" level. Chinese Premier Wen Jiabao ...

Property agencies close stores as market cools

Real estate agencies in Beijing have shut down nearly 1,000 outlets so far this year, with 177 in October alone, as the property market cooled following a slew of government tightening measures, according to a survey by a leading real estate agency. The survey, released by Home ...

No crisis in price drop

China's property prices may decline by up to 30 percent next year, but it should not lead to a systemic crisis or collapse, an industry report said yesterday. "The current tightening policies on property may be adjusted if the average price decline approaches 20 percent," ...

Home Inns portfolio to more than triple

Home Inns & Hotels Management Inc, operator of China's largest budget hotel chain, plans to more than triple its portfolio over the next decade amid a robust travel demand. In 10 years, Home Inns will operate more than 5,000 hotels under its three brands - Home Inns, Motel 168 ...

Beijing real estate agencies close stores as market cools

Real estate agencies in Beijing have shut down nearly 1,000 outlets so far this year, with 177 in October alone, as the property market cooled following a slew of government tightening measures, according to a survey by a leading real estate agency. The survey, released by Home ...

House prices, pain and gain

The nationwide fall in the price of new houses that began recently does not mark the end of China's efforts to stave off a real estate bubble. Rather, it is only the beginning of the end. To effectively prevent a property bubble from crippling the growth of the world's second ...

Poly home sales tumble 39.27% in Oct

The Poly Real Estate Group Co, China's second-largest developer by market value, posted a steep housing sales drop of 39.27 percent year on year, hitting 5.42 billion yuan ($857 million) in October. In its October financial announcements filed with the Shanghai Stock Exchange on ...

Marriott set to open one hotel each month

Marriott International Inc plans to open one hotel every month in China during the next three years, even though it recognizes that increasing labor costs will create a large obstacle, the president of the company said on Tuesday. The US-based lodging company has announced that ...

China's diamond demand sparkles

The fifth-largest diamond producer in the world said on Tuesday that China's demand for the precious stones will steadily increase in spite of rising prices. Empresa Nacional de Diamantes (Endiama), the national diamond company based in Angola, said that the Chinese market had ...

Hainan to set up duty-free operator

The Chinese government said Monday it has allowed Hainan to set up a new company to conduct duty-free business in the island province as part of a trial aimed at making it a tourist hub. The company "will help encourage proper competition, prevent a monopoly and facilitate the ...

Yum! gets regulator's nod to takeover Little Sheep

Yum! Brands Inc. has gained approval from the country's industry regulator over its proposal to take over Little Sheep Group Ltd., China's leading hot-pot restaurant. The Ministry of Commerce cleared the application under its anti-monopoly law, the Inner Mongolia-based Little ...

Alibaba visit may open door for housing upturn

Nearly 100 employees from Alibaba Group Holdings visited commercial property projects developed by Hangzhou-based Greentown China Holdings Ltd on Sunday in search of possible savings through bulk purchasing. Cash-strapped developers have seen a slump in transactions due to the ...

Tightening to go on, Wen says

The central government will resolutely carry out tightening measures in the property market to help prices return to "reasonable levels," Premier Wen Jiabao said. Speaking to Chinese diplomats and business people during his visit to Russia on Sunday, Wen emphasized that curbing ...

Housing policy to drive down prices, Wen says

Weekly sales of new homes dropped below 100,000 square meters again in Shanghai last week as wait-and-see sentiment prevailed among home seekers. Sales of new homes, excluding affordable housing, plunged 32.4 percent from a week earlier to 93,800 square meters during the seven...

Housing market close to turning point

The continued tightening measures of the government and the poor autumn sales volume have forced Chinese property developers to cut housing prices nationwide, which indicates that the market is moving closer to a turning point. Official statistics show that the housing inventory ...

People with a nose for profits look to red wine

Drinking and investing in red wine in China is booming but experts say those who want to make money from it should take a long-term view. Figures from A.T. Kearney (ATK), a consulting firm in the United States, suggest that revenue generated from wine sales in China reached about ...

Company says shampoos safe

US healthcare giant Johnson & Johnson denied that its baby shampoo products contain cancer-causing chemicals on Thursday. "The ingredients used in Johnson's Baby products, including preservatives that are designed to release tiny amounts of formaldehyde to protect against harmful ...

Milk safety fears after Nestle practices exposed

Li is a dairy farmer in Shuangcheng, Heilongjiang province. Before he started milking his cows, he ensured that he had his homemade wooden stool, a bucket filled with well water and a red plastic milk barrel. Without any gloves, disinfectant fluid or towels, Li cleaned the cows' ...

Etao out to net more customers

The Chinese e-commerce giant Alibaba Group Holding Ltd will provide a marketing budget of 1 billion yuan ($157.3 million) for its online search arm next year, going head-to-head with Baidu Inc, the operator of China's largest search engine. Etao.com will use the capital to reach ...

The other side of foreign brands

Many Chinese people love foreign goods, especially reputable brands. The wealthy flock to Paris, New York and Hong Kong snapping up goods ranging from bags and jewelry to milk powder. Some critics suggest this belief that "the moon shines even brighter in a foreign land" reflects ...
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company

industry

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trade

sports

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