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Housing developers resist price cuts until 'cornered'

Potential home buyers waiting for an appreciable drop in property prices may have to bide their time longer than they anticipated. There's no sign yet that property developers are capitulating on price despite a relentless government crackdown on the housing market. At the recent ...

Cities lag in setting home-price targets

Nearly 95 percent of cities and regions in China have not released their 2011 targets for housing-price control as of Friday, a week from the deadline. On Jan 26, the central government launched a series of tightening measures to cool down the real estate market, including price ...

Beer to cost more as prices may climb

Beer drinkers in China may soon have to pay more to raise their glasses because major brewers, including Suntory and Snow Beer, are considering plans to raise prices in response to higher costs of raw materials. China Resources Enterprise, which produces China's top beer brand ...

Foreign funds: Now's the time for Chinese property

Overseas vistors at a real estate exhibition in Beijing. According to foreign real estate funds, there will be good buying opportunities in the coming six to 12 months. [China Daily] The coming six to 12 months will present good investment opportunities in China's property sector ...

Tour groups ahoy

A crescendo of voices builds on a typically bustling day in the Shanghai headquarters of Ctrip.com as staff put together hundreds of tourist trips. It is the sound of China's travel boom. Call after call comes in to Asia's largest travel call center from mainly Chinese consumers, ...

Sales ban for illegal properties in Beijing

Beijing's villa owners who refuse to demolish illegal structures are to be fined and banned from putting their properties on the market. From April 1, authorities can even cut off power and water supplies to rule breakers' homes under new regulations aimed at clamping down on ...

Underhanded property sellers targeted

China's top economic planner told developers and real estate agents on Tuesday not to use underhanded means to sell property, as Beijing continues efforts to cool the country's real estate market. Anyone trying to sell a property "must not use false or nonstandard price labels to ...

Carrefour inks 8% pay rise for staff

Carrefour Shanghai has 4,700 workers, accounting for 70 percent of Carrefour's workforce. [CFP] French retailer Carrefour yesterday reached an agreement with its workers in Shanghai to raise wages by 8 percent after two months of negotiations. According to the agreement, about 4...

P&G, Unilever leading the hike in daily cosmetics

Washing products on shelves in a supermarket in Nanjing, eastern China. [CFP] Daily cosmetics companies in China are planning to raise prices of their products due to hiking raw material costs, led by international giants Procter & Gamble (P&G) and Unilever, the China Business ...

Weak mood despite rise in sales, price

Buying sentiment for new homes continued to be sluggish in Shanghai last week despite slight increases in the transaction volume and prices. Sales of new homes, excluding those built under the city's affordable housing programs, rose 11.5 percent to 70,000 square meters last week...

Budget hoteliers eye Motel 168 chain

With eyes on the popular Chinese motel chain that could fetch up to $1 billion, the top four Chinese budget hoteliers, 7 Days Group Holding Ltd, Shanghai International Jin Jiang Hotel Group,. Hanting Hotel Group and Home Inns & Hotel Management Inc all indicated their interest in ...

Best Buy seeks the best way to survive

Despite the closure of the United States-based Best Buy Co Inc's branded-stores in China, multinational companies are keeping a close eye on the electrical appliances and electronic products retailing business in China amid aspirations to open more stores to cash in on the ...

Property prices begin to decline

A growing number of Chinese cities experienced a decline in property prices or a slowdown in growth during February. That's as the government's tightening measures began to take effect, according to statistics from the National Bureau of Statistics (NBS) on Friday. Property ...

Home prices in China continues to rise in February

Home prices in most major Chinese cities continued to rise month on month in February despite government efforts to cool the property market, according to the National Bureau of Statistics (NBS) Friday. Month-on-month price declines of new commercial homes were reported only in ...

Big players give a miss to Shanghai realty fair

Visitors at the annual Shanghai Spring Real Estate Fair on Thursday. Overseas properties are the highlight of this year's event.[China Daily] The annual Shanghai Spring Real Estate Fair, a traditional indicator of the city's housing market, kicked off on Thursday. Coming amid the ...

China Auto Rental halts taxi services business

A China Auto Rental outlet in Beijing. The car rental markets has soared in recent months thanks to increasing demand following strict policies that have curbed private car usage in a number of cities, most notably in Beijing. [China Daily] The country's largest car rental agency...

China prepares fixed sales prices on homes

China is preparing to introduce a fixed-sales-price regulation to rein in its white-hot property market, following the initial effects of recent tightening measures, a senior official with the National Development and Reform Commission (NDRC) said on Tuesday. Xu Kunlin, director...

Chinese appliance giant Gome in receipt scandal

Gome Electric Appliance Holdings said it would conduct checks after China's central television company reported the company's improper conduct during trade-in transactions. Staff from several GOME outlets in China's northern Tianjin and Beijing cities were allegedly selling trade...

Suning Appliance reports soaring net profit in 2010

Suning Appliance Co., China's biggest home appliance retailer by market value, witnessed a 38.82 percent year-on-year net profit jump in 2010. In its annual business report filed to the Shenzhen Stock Exchange Wednesday, the Nanjing-based company said its net profit hit 4.01 ...

Property prices dip as measures bite

Potential buyers examine a model of a residential property development at a housing fair in Shanghai. More brand name property developers have started offering discounts on newly opened projects, with some of them more than 20 percent lower than the original prices. Property ...
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