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Pundits wag fingers at property tax plan, call it 'illegal': As the southwestern municipality of Chongqing is set to heat up the battle to cool sizzling housing prices by imposing a new property tax, analysts questioned the legality and effectiveness of the measure. Although some industry watchers welcomed the plan as a way to avoid too ...

Top 3 property developers post big rise in 2010 sales: Property sales by China's three biggest listed property developers surged in 2010 despite government measures to cool the sector, according to company statements Wednesday. Poly Real Estate Group Co., China's second largest developer, said its property sales in 2010 rose 52.53 ...

Shanghai gets OK for property tax: The central government has given the city's proposal to launch a property tax the green light, and the tax is likely to begin in the first quarter of this year, sources said. But many details still need to be worked out, according to a source close to the decision-makers. The ...

More lending for affordable housing projects: China's banking regulator on Wednesday urged banks to increase lending to affordable housing projects in 2010 in hopes of curbing runaway property prices. The outstanding loans for affordable housing development by China's financial institutions increased 32 percent year on year ...

Sluggish market: Shanghai's new home market was sluggish last week as the Spring Festival, a traditional low season for property sales in China, nears. Sales of new homes, excluding those built under the city's affordable housing program, plunged 25.8 percent from a week earlier to 290,000 square ...

Property tax can help market: A value-based tax on property holdings should help bring stability to the housing market, but not unless the central government offers clarity and local governments offer compliance. China's property price growth may have eased nationwide in recent months, but sustained liquidity ...

China to launch trial property tax in two cities: China may soon launch a trial property tax in Chongqing and Shanghai, amid the latest efforts to rein in wildly inflated property prices. The Ministry of Finance has agreed in principle to the property tax levy in the two cities, government sources told Xinhua. The tax is ...

Chongqing to impose housing property tax: After a series of measures to curb the rising house prices across the country, the property tax is finally set to arrive in Southwest China's Chongqing municipality, which plans to start collecting the tax as early as the first quarter of the year. The property tax will be levied ...

Travel by cruise liners set for robust growth: The number of visits by cruise liners to Shanghai this year is expected to maintain the historic level reached in 2010 that was driven by Expo 2010 Shanghai, underscoring the rapid development of the city's cruise liner industry. According to statistics from the Pujiang Frontier ...

China's e-commerce boom hits a bump: Due to lower prices and broader choices, Chinese netizens have been roaming shops online for weeks before the Spring Festival, or the lunar New Year. But for those who are still hesitating about what to buy, it would be best to visit a real store. Recently, more of China's online ...

Carrefour makes its own path in China dim: Jiusan Oil & Fat Co., Ltd. (JOFC), edible soybean oil producer in Harbin, Hei Longjiang Province, has stopped supply to Carrefour in Harbin all-sidely, according to the China Business News Monday. Carrefour, according to a senior official in JOFC, has made a concession to hold ...

Restaurants lick their lips as festival approaches: A chef carves thin slices of meat from a roast duck at a branch of Quanjude Restaurant in Beijing. [Xinhua] Catering will boom during the Chinese Spring Festival, experts said after researching dinner reservations for the lunar New Year's Eve on Feb 2. Wang Ruihua, vice-general ...

China's Li-Ning plans US inroads: Chinese athletic shoe maker Li-Ning knew it couldn't "out-Nike" Nike, especially in the sporting giant's own backyard. So the company is going low-budget edgy in its expansion to the United States, using a YouTube video to play up its heritage while taking a lighthearted dig at ...

Stamping personality on one's home: Having a walk-in closet at home like Hollywood celebrities such as Paris Hilton - who even owns a separate shoes closet - is no longer a dream for Chinese women. Demand for fittings and furniture with a personal style is booming in China. As China's middle class grows bigger and ...

Italian retail giant to open Chinese outlet centers: Italian fashion retail giant RDM announced Wednesday that it will invest $910 million to set up five Italian-style luxury outlet centers in China under the brand name of "Florentia Village." Jacopo Mazzei, chairman and CEO of RDM Group, made the remarks when attending a ceremony ...

E-shoppers storm the Web: Employees at a delivery company handle orders from e-commerce websites in Nantong, Jiangsu province. E-commerce, which enjoyed a robust growth in 2010, has provided a boost for delivery companies. [China Daily] E-commerce has become the fastest-growing Internet activity in China ...

Shanghai plans to avoid a 'Mickey Mouse' operation: Political consultants to the Shanghai municipal government urged the city to get more deeply involved in its joint venture with Walt Disney Co before signing the final agreements on Shanghai Disneyland. Tu Haiming, president and general manager of Shanghai Hodoor Real Estate ...

China's e-commerce turnover up 22% in 2010: E-commerce turnover in China jumped 22 percent in 2010 from a year earlier to 4.5 trillion yuan (681.82 billion U.S. dollars), an industry report said on Tuesday. Online retail sales almost doubled to 513.1 billion yuan, according to the report released by the China e-commerce ...

Rosy times ahead for rosewood furniture: A yellow rosewood chair at a recent furniture fair in Beijing. More than 2 billion yuan ($3 billion) in hot money flooded into Vietnam from China to buy yellow rosewood goods last year. [China Daily] Guo Haibing, a rosewood furniture seller in Beijing, said he felt satisfied ...

China's hair-care market powers ahead: Hong Kong heartthrob celebrity Andy Lau used to say in a hair-care product TV commercial in the early 1990s: "The girl of my dreams should have beautiful, pitch-black hair." Uttered in his mellow voice, this simple message kept his admirers spellbound. It also marked the start of ...

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