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Home Depot shuts Beijing store due to difficulties

A sign posted on the door of Home Depot China's last Beijing store. [China Daily] US home-improvement giant Home Depot Inc has closed its last Beijing store due to operational difficulties. The company announced the closure on Jan 21. A manager at the store has confirmed that it ...

Carrefour apologizes for overcharging

Shoppers at a Carrefour SA outlet in Maanshan, Anhui province. An investigation by the National Development and Reform Commission found some of Carrefour's stores engaged in deceptive pricing. Carrefour released an apology afterward, indicating cooperation with authorities and ...

Carrefour, Wal-Mart face fines over prices

Carrefour and Wal-Mart outlets in cities such as Shanghai, Chongqing and Shenyang were found to have engaged in pricing fraud, including fabricating the purported original prices. [Global Times] Retail giants Carrefour and Wal-Mart are facing fines of up to 500,000 yuan (US$75...

Carrefour, Wal-Mart stores in China fined for cheating customers

Some Carrefour and Wal-Mart stores in China will be fined up to 500,000 yuan (75,987 U.S. dollars) for cheating customers, the National Development and Reform Commission (NDRC), China's economic planner and price regulator, said Wednesday. The Carrefour Xinmin store in Changchun ...

More buyers seal home deals ahead of likely property tax

More people in Shanghai are rushing to buy a home or concluding a purchase deal, particularly for high-end spacious houses, ahead of an impending property tax, according to a latest research conducted by a local estate chain. The transaction volume of existing homes, with a floor ...

Property prices 'will continue to increase'

Property prices are unlikely to fall this year and are expected to rise, at least in the short term, despite tightening monetary policies and the expected availability of more affordable housing, a report said on Tuesday. "In the short term, prices are expected to continue to ...

Property tax on homes in effort to cool prices

Shanghai will levy a property tax on newly purchased spacious houses and expand the supply of affordable homes to curb prices, Mayor Han Zheng said yesterday. The city aims to keep inflation within 4 percent this year, after prices rose 3.1 percent locally in 2010. Shanghai is ...

China issues new regulations on real estate agents

China issued new regulations to regulate real estate brokerage practices, said a statement Tuesday. The statement, released jointly by the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission, and the Ministry of Human Resources and ...

Home prices to correct a bit in Shanghai

Housing prices in Shanghai are expected to correct slightly due to stricter policies that were implemented to curb speculation, according to a book released yesterday by the Shanghai Academy of Social Sciences. The book, which analyzed the city's economic, social, cultural and ...

Homebuying restrictions to be extended

China's homebuying restrictions are expected to be expanded to second- and third-tier cities. The central government will expand property-purchasing limitations to second- and third-tier cities as it steps up efforts to cool the real estate market, a report said on Sunday. ...

Shanghai property to 'correct'

Shanghai's property market is set to "correct" this year, and the city is preparing to levy a property tax on newly-purchased spacious homes. "Home prices are likely to drop slightly in 2011 while transaction volume is expected at no less than the 2010 level," the Shanghai ...

China's land prices jump on quarter, pushing property prices higher

China's urban land prices saw increases in the fourth quarter last year as home prices surged month on month in December, a report showed. The China Land Surveying and Planning Institute, under China's Ministry of Land and Resources (MLR), said in a report Monday that average ...

Tax speculation drives housing sales

With media reports rife about a property tax soon to be launched in Shanghai, 30-year-old Zhou Xin had no hesitation in signing the purchasing contract for a two-bedroom apartment located in the Zhabei district of the city. Zhou had been looking for such an apartment for several ...

Home prices up 6.4% in December

Home prices in 70 major Chinese cities rose 0.3 percent month on month in December and 6.4 percent year on year, the National Bureau of Statistics (NBS) said Monday. The annualized growth rate dropped from 7.7 percent in November, making December the eighth consecutive month of ...

Second & third-tier cities show more need for houses

Real estate liquidity and the demand for houses is curving to second and third-tier cities of the country, according to the China Business News citing reports from JP Morgan Tuesday. In 2010, sales volume of new houses in the eight first-tiers researched by JP Morgan decreased 31 ...

Housing 'could put professionals off'

Shanghai will be less attractive to professionals if the housing issue isn't properly addressed, Shanghai Party Secretary Yu Zhengsheng said yesterday. The view mirrored the Shanghai government's plans for this year, as housing is among the main issues targeted to improve living ...

Controversy over change to land use regulations

A new provision at a land auction which might lead to property owners losing their usage rights after a 70-year span has led to heated discussion. Last week, the application form at a land auction in Shanghai showed that after the usage rights expire, the government will take ...

China's property tax debate escalates

Property taxes, seen as a silver bullet to curb excessive growth in China's housing prices, triggered an intense debate among economists and industry analysts recently, with some saying it may not help tame soaring prices but rather, increase costs for home buyers. "The property ...

Affordable housing programs to cool down real estate

China is pinning hopes on its affordable housing programs to cool its red-hot property market in the latest round of campaigns against rising asset bubbles, after the government moved to crack down on market speculation during the past year. Experts held that to increase supplies ...

Shanghai ready to launch tax on properties

Shanghai's property tax will target new properties where each member of the family enjoys more than 70 square meters, local officials said. The tax rate will be set at 0.5 to 0.6 percent of the property's price, China Securities Journal reported on Thursday. For instance, if a ...
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trade

sports

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