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Buyers snap up cheap high-end apartments: Twenty apartments at a development within the Inner Ring Road in Shanghai's Changning District attracted a crowd over the past weekend when the owner, a Hong Kong-based investment company, said it would sell the units to individual buyers. More than 400 people rushed to the ...

Land prices hit record highs in Shanghai area: Administrative restrictions and monetary tightening measures don't appear to have undermined the enthusiasm of property developers' for lavish land purchases. A new local record was established during a bid for a plot on the city's Chongming Island, smashing the previous record ...

Land prices reflect confidence: Two Shanghai land plots for residential use sold for total of 1.66 billion yuan (US$252 million) at auction at the weekend. The high prices for the plots in Chongming and Jinqiao were an indication that property firms remain confident about the market despite government measures ...

McDonald's may raise prices in China: A McDonald's Corp restaurant in Beijing. The company has about 1,300 restaurants in China and aims to have at least 2,000 by 2013. McDonald's Corp, the world's largest restaurant company, may raise prices at its China outlets in the second half of the year, said Tim Fenton, ...

China should encourage renting to provide affordable housing: China should boost rental housing programs in order to put its low and middle income citizens under affordable roofs, a U.S. real estate expert said Saturday. Compared with buying houses, renting is a better way to provide affordable housing, as it requires no down payment and ...

Romance on the cards - at a price: Two girls holding roses on a street in Guangzhou. Although it is only a few days after the Chinese Spring Festival holiday, restaurants and flower markets and chocolate suppliers still see Valentine's Day on Feb 14 as a big business opportunity for them.[China Daily] Following ...

Mainland buyers snap up baby milk powder: Mainland parents have been buying Hong Kong and Macao milk powder since the contaminated baby formula scandal in 2008 on the Chinese mainland. [Xinhua] Macao is following Hong Kong in reporting a shortage of, and price increases for, infant and baby milk powder, with visitors and ...

Home appliance sales more than double in rural China in January: China's Ministry of Commerce said on Saturday that sales of home appliances in rural areas jumped 123 percent from one year earlier in January, to 25.36 billion yuan (3.84 billion U.S. dollars), boosted by a government subsidy. In January, 10.49 million home appliances were sold ...

Property tax rule pushing up cost of renting: The government's latest property rules are providing extra impetus for rent increases in many Chinese cities, according to a survey conducted by China Youth Daily. In the survey, 81.6 percent of the 4,060 respondents interviewed said they "are suffering from the increase in rents...

Poor sentiment hits property: More than 20 new residential developments in Shanghai have shelved their sales plans amid a rising "wait-and-see" sentiment among buyers because of several tightening measures by the central government, Soufun.com, an online real estate services provider, said Friday. Fewer than ...

Shanghai new home sales tumble 25%: Home buying sentiment cooled in Shanghai in January as transaction volume fell ahead of the Spring Festival holiday - a traditional slack season for property purchases. Sales of new homes, excluding those built under the city's affordable housing program, tumbled 25 percent from ...

Vanke expects dreary month: China Vanke Co, the country's biggest developer, said it expects a "sharp" drop in sales this month after revenue in January more than tripled to a record 20.1 billion yuan ($3 billion). Revenue rose 221 percent last month from a year earlier, making Vanke the nation's number one ...

Bright Food denies bidding US$2.3 bln to acquire stake in Yoplait: Chinese company Bright Food Group on Friday denied media reports that it had offered 2.3 billion U.S. dollars to buy a 50 percent stake in Yoplait, the world's second largest yogurt maker based in France. An unnamed high-ranking manager in the company made the comment after ...

Sequoia quits Feihe funding partnership: Feihe International Inc, the first Chinese dairy company to list overseas, is facing a withdrawal by its venture capital partner, which may provoke huge cash-flow pressures. According to a news release on the New York Stock Exchange, the milk powder manufacturer will end its ...

Tourism spending to see a big surge: survey: Tourist spending from the Chinese mainland is expected to see a big surge this year, with sightseeing and ecotourism topping the list, a survey has found. About 80 percent of holidaymakers from the Chinese mainland, 70 percent from Hong Kong and 65 percent from Taiwan said they ...

Avon reports near $11m loss in 2010: Avon Products Inc, a manufacturer and marketer of beauty related products, reported a loss of $10.8 million last year, as it shifts from retail sales to direct selling via individual distributors. According to the New York company's fourth quarter fiscal report, released Tuesday, ...

Hainan tax rebate plan fails to lure the tourists: Travelers apply for a tax refund in Haikou, Hainan province. A total of 129 tax refund applications involving goods worth up to 465,300 yuan ($70,629) have been received by Haikou Customs since Jan 1. [China Daily] A new tax-rebate policy on the southern island of Hainan, which ...

Hangzhou tops 2010 ranking of housing prices: An average housing price of 25,840 yuan ($3,921.78) per square meter in Hangzhou was the highest among all the 110 cities surveyed in 2010, China National Radio reported Wednesday. Beijing ranked second, with its average housing price at 22,310 yuan per square meter. Housing ...

China's Spring Festival home sales drop year on year: Home sales in China are typically abysmal during the Spring Festival holiday as people enjoy being with their family rather than selling or buying homes, but this year sales were even worse than usual. In Beijing, the existing-home sales of the 5i5j Real Estate Service dropped ...

Rising travel costs not a deterrent: The travel market has witnessed a price hike on both inbound and outbound flights during the Spring Festival period, an official government statement released Tuesday night said. However, increasingly more expensive prices have not dulled the enthusiasm of Chinese travelers as ...

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