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Mortgage rates for first-time buyers inch up

Some Chinese banks have raised mortgage rates for first-time home buyers, local media reported, a move analysts say will dampen property prices, which one industry surveys says have just posted their first monthly decline in a year. China Construction Bank Corp, China's biggest ...

New home sales see rebound

New home sales in Shanghai rebounded last week from a five-week low as supply increased, but analysts said the recovery may be slow after some commercial banks raised mortgage rates for buyers of first homes. Sales of new homes, excluding affordable housing, climbed 39 percent ...

Tsingtao Beer to open 1st overseas plant in Bangkok

China's brewery giant Tsingtao Beer announced Monday that it is setting up its first overseas plant in Bangkok, capital of Thailand. The brewery exports beer to over 70 countries around the world. The overseas plant is expected to expand its share in the southeast Asian and ...

China's top property firms faced plummeting sales

China's large real estate enterprises reported declines in nationwide housing sales in September, a time when property developers had previously enjoyed robust sales, due to persistent high home prices and purchase limits. China Vanke, China Overseas, R & F Properties, Country ...

SARFT orders ban on sexy ads

Chinese audiences can expect fewer sexually suggestive commercials and more public information advertisements on their screens after China's top broadcasting regulator ordered a ban on sex-related advertisements on TV and radio. The State Administration of Radio, Film and ...

Suning taps department store segment

Suning Appliance Co, China's largest consumer electronics retailer, will expand its retail presence and increase its product lines by tapping the department store segment. Japan's electronics retail chain Laox, in which Suning owns 51 percent, plans to unveil China's first Laox ...

Apple wins battle to block Samsung tablets in Australia

American technology company Apple won a victory on Thursday in its global patent battle with rival Samsung when a Federal Court judge of Australia granted a temporary injunction blocking the sale of Samsung's latest tablet computer in the country. Justice Annabelle Bennett handed ...

China close to hitting affordable housing target

China is approaching its target of starting construction on 10 million affordable housing units this year, part of the government's efforts to stabilize runaway property prices. China had started building 9.86 million units of affordable housing by the end of September, or 98 ...

Nike to invest in China 'very aggressively'

Nike brand President Charlie Denson said on Tuesday that the company will continue to invest heavily in the world's most populous country, as the world's top sportswear maker plans to double sales in China by 2015. Although the world economy -- notably in the United States and ...

Houses see first drop in prices for a year

China's home prices fell for the first time in a year last month as a result of slack sales and tightening austerity measures, according to data released by China Index Academy. Home prices fell an average 0.03 percent from August to 8,877 yuan (US$1,398) per square meter in 100 ...

September home appliance sales in rural China jump 67%

Sales of home appliances in rural China continued to soar in September, boosted by a nationwide subsidy program for rural consumers, according to data released by the Ministry of Commerce (MOC) on Monday. Home appliance sales in China's countryside jumped 67 percent year-on-year ...

Letter calls Gucci stores 'sweatshops'

The Italian brand Gucci became the subject of criticism after five former employees at its Shenzhen flagship store publicly released an open letter claiming that the company was a "sweatshop". In the letter, which was addressed to Gucci senior executives, the five former workers ...

Beijing residents think consumer prices too high

Inflation expectations among Beijing residents rose in the third quarter and most consider consumer prices to be unacceptably high, the Beijing News reported Sunday. Some 69.1 percent of Beijing residents said current prices were "too high to be acceptable," up 4.8 percentage ...

Shopping frenzy fuels retail sales to rise 18%

Total sales at major retailers in Shanghai during the weeklong National Day holiday jumped nearly 18 percent from a year earlier as local shoppers took advantage of heavy discounts offered during the citywide shopping festival. Consumers spent a record high 7.1 billion yuan (US$1...

China on course to squeeze property bubble

After nearly two years of government efforts to cool the country's rampant property market, prospective homeowners are finding that housing prices may fall within their reach before long. Home sales are drying up in many cities. Property developers are feeling strain from the ...

China's lottery sales rise 32.7%

The Ministry of Finance has announced that China's lottery sales rose 32.7 percent year-on-year to 138.12 billion yuan (21.58 billion U.S. dollars) during the first eight months of the year. Of the lottery boom, sales of welfare lottery tickets gained 33.4 percent from one year ...

Group buying picks up after slump

The group buying industry in China has gradually regained popularity after a first quarter slump this year. The number of group buying users hit 42 million at the end of June, up 125 percent from that of December last year, according to data from the China Internet Network ...

Property investors create new hot spots

Government figures show the trading volume of apartments in Beijing was down 50 percent on the figure last year, with counties neighboring Beijing the new hot spots for property investors. Property prices in Beijing have stabilized since last year, following the introduction of ...

Housing boom hits unlikely targets outside Beijing

For a long time, the Chicheng county seat looked like many other small towns in China, with a low skyline and a few intersecting roads. A few years ago, however, excavators and bulldozers moved into this town of some 50,000 people in the Yanshan Mountains about 280 km from ...

Golden season turns to bronze

September and October are usually viewed by property salespeople as the best months to promote their products, but the traditional peak season for the housing market, nicknamed "Golden September and Silver October", is losing its sheen this year. A slew of curbs on property ...
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industry

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sports

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