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Xinmao continues to pursue Draka

China's Xinmao Group will press ahead with a 1 billion-euro (US$1.3 billion) bid for Dutch cable maker Draka, but warned that the timing of a competing offer from Italy's Prysmian could yet derail its takeover plan. Draka dismissed the Chinese group's latest overture as ...

Rogue developers to be blacklisted

The country's top land watchdog has ordered local authorities to rein in rapid rises in land prices and pledged to crack down on the hoarding of land, as the country struggles to contain its overheated property market. Cities that failed to allocate more than 70 percent of their ...

Land bidding needs to be strictly monitored nationwide

Local governments across China should continue to implement strictly tightening measures to curb property speculation and monitor closely an increasingly overheated land bidding market in some parts of the country, the land regulator has said as it vowed to keep land prices ...

New home market rebounds by double-digits

Shanghai's new home market rebounded last week to register double-digit growth in volume and price from a week earlier. A total of 273,000 square meters of new homes, excluding those built for relocated residents under urban redevelopment plans, were sold across the city during ...

China eyes curbs on 'excessive' land prices

China's land regulators urged local land authorities late Sunday to take concrete measures against excessive growth in the country's land prices in some Chinese cities and crack down on illegal behavior, such as land hoarding, to ensure the implementation of the government's ...

Property price rise rate to slow in 2011

The price of property in China will continue to rise in 2011, but the rate of growth will slow down. A leading real estate research institute said on Friday that prices will increase by 8 to 9 percent next year, but an improved demand-and-supply relationship, as well as the ...

New regulation better protects tenants

Property owners are not allowed to raise rents without first reaching an agreement with tenants during the contract period and the per capita leasing space should at least equal the minimum standard set by local governments, according to a recent regulation released by the ...

Photographs put spotlight on buildings

A residential apartment block stands grimly in the darkness on the southern bank of the Pearl River in Guangzhou, Guangdong Province where only a few of the apartments have lights on at 9 pm. Sources said photos of such dimly lit apartment buildings are proof that developers and ...

CASS report attempts to pop property bubble

A new report revealing the potential size of China's housing market bubbles, coupled with price control measures announced by the national regulatory body, sent share prices for key property developers tumbling Thursday. The report, published Wednesday by the Chinese Academy of ...

China's November property prices continue to rise

Property prices in 70 major Chinese cities rose 0.3 percent in November month on month and 7.7 percent year on year, the National Bureau of Statistics (NBS) said Friday. November was the third consecutive month prices rose, after a 0.2-percent rise in October and a 0.5-percent ...

Old-for-new home appliance subsidy scheme fuels 112.69 bln yuan sales

China's home appliance replacement program has been an incentive for consumers to spend 112.69 billion yuan (US$16.9 billion) since it was launched in June 2009, the Ministry of Commerce (MOC) said Thursday. As of Thursday, the sales volume of home appliances under the government ...

Chinese think-tank says new homes overpriced

New homes in major Chinese cities are overpriced by an average of 30 percent, the Chinese Academy of Social Sciences said in its annual housing report released yesterday. Tracking the price of new homes in non-prime locations in 35 large and medium-sized cities in September, the ...

Greenland to build 606m skyscraper

Greenland Group will build the world's third-tallest building in Wuhan, Hubei Province, at a cost of 30 billion yuan (US$4.5 billion). The 606-meter Wuhan Greenland Center, planned to be completed in five years, will only be dwarfed by the 632-meter Shanghai Tower, scheduled to ...

Rising prices put homes out of reach for many

New home prices are rising throughout the country, but at a slower pace than last year due to China's tightening policies aimed at reining in property speculation, the Chinese Academy of Social Sciences said in its annual economic report released yesterday. However, the report ...

Property tax 'next year'

Trial operations of a property tax will be launched in Shanghai and Chongqing early next year, according to the Economic Observer, which cited unidentified "authoritative" sources. In Chongqing, the tax will be mainly levied on high-end apartments and villas while in Shanghai ...

Housing index gains for 3rd month

Shanghai's existing housing index edged up 0.2 percent in November from October to extend its gains for the third straight month. The index, which monitors price fluctuations of existing houses, added 5 points to 2,558 in November, according to a latest report released by ...

Few exit due to realty profit

Only seven of the 78 state-owned firms whose core business is not real estate have pulled out of the property market despite a central government order more than eight months ago demanding that they withdraw from real estate development, China Securities Journal reported ...

Asian property expected to resume despite cooling moves

Returns in Asia property market may slacken in 2011, but beyond that price growth is expected to resume. House prices in Asia have doubled in many cases in the past two years. Regulations increasingly clamp down on property markets to prevent bubbles forming, such as with tighter ...

US$1.05 trln expected to flow to developers in 2010

Real estate developers in China may have a capital source of 7 trillion yuan ($1.05 trillion) this year, the China Securities Journal reported Wednesday, citing an analyst with Haitong Securities. A total of 5.69 trillion yuan has flooded to Chinese property developers over the ...

Hidden risks in booming overseas housing market

China's overseas house purchasing power is becoming more prosperous as it is expected to hit 5 billion yuan ($750 million) in 2010. However, most of the well-heeled purchasers don't know how to evade risks when they grab properties in Western countries, China Economic Net ...
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Latest World News

china

China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...
Merck to put $1.5b in R&D
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Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...

market

finance

Xinhua Feature: World's political, business leaders gather in Davos for WEF
Xinhua Feature: World's political, business leaders gather in Davos for WEF
DAVOS, Switzerland, Jan. 22 (Xinhua) -- The snow-covered Swiss town of ...
China economic reform in focus at World Economic Forum
China economic reform in focus at World Economic Forum
There’s been much talk of China at the World Economic Forum-and a ...
Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...

company

industry

Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...
Chinese steelmakers see profits plunge
Chinese steelmakers see profits plunge
China's 77 major steel companies reported an average profit margin of ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...

trade

sports

Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
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