China Expands Tight Property Market Regulations

正With a flurry of recent property market controls,Chinese authorities have demonstrated their will to keep a lid on housing prices,not just in large metropolises but also in smaller cities.Over 40 cities unveiled property market regulations a total of 50 times in May,a monthly record,according to the latest statistics from     

Reconsidering the Role of Real Estate

正China’s real estate market is in a stage of cyclical adjustment.Data from the National Bureau of Statistics show that in April,secondhand housing prices in 22 of the country’s 70large and medium-sized cities dropped from the previous month,and newly built housing prices in eight of the 70 cities declined over those of a month ago.In the last several years,the country’s real estate industry has developed very rapidly,pushing up overall economic growth.However,     

ECONOMY

<正>Home Prices Decline Two interest-rate cuts in three months and the removal of property purchase curbs have so far failed to revive China's housing market,with the pace of price declines accelerating in February.The real estate market continued to falter with new-home prices in February registering month-on-month declines in most surveyed cities.Of 70 large and     

A Boost to Renting

<正>China strives to develop its housing rental market with more preferential policiesChina will launch a pilot program in 13major cities,including Beijing,Shanghai and Guangzhou,to build rental housing on rural land in an attempt to increase rental housing supply,the authorities announced on August 28.Nanjing,the capital city of east China’s Jiangsu Province,has become the second city in China after Guangzhou to grant equal rights to home renters and buyers,according to an announcement from the local government on August 18.     

Taming an Overheated Market

A rebound in housing prices fuels speculation over more curbs China’s home prices took an upward swing since the last quarter of 2012 despite government-imposed measures to cool the market.In light of this,the State Council unveiled five new policies to reaffirm its stance on tightening the housing market.However,the new policies were questioned for their lack of originality and for not including long-anticipated     

ECONOMY

<正>Housing Market Rebound China’s housing market continues to recover from a prolonged downturn,with new home prices in July dropping in fewer cities for a fifth consecutive month amid improved market confidence and lower interest rates.Of 70 large and medium-sized cities surveyed,new home prices climbed     

ECONOMY

<正>Home Prices Stable The hot property market in major cities is stabilizing after authorities took measures to contain rising prices,according to an offi cial survey on February 22.Of the 70 large and mediumsized cities surveyed,45 saw prices for new residential housing climb month on month in January,down from 46 in December and 55 in November 2016,according to the National Bureau of Statistics(NBS).     

Foreign Banks Set Sights on Housing Loans

Having cleared all the hurdles to enter the market, locally incorporated foreign banks declare their intentions to dive into the personal housing loan business in China A battle is brewing between domestic and locally incorporated foreign banks over the housing loan busi-ness in China. On April 2, the first four locally incorporated foreign-funded banks-Citibank (China), the Hong     

Regaining Momentum

<正>First-tier cities take the lead in China’s housing market rebound After months of searching for a schooldistrict home for his school-age daughter,Wang Feng,a resident in Shenzhen,south China’s Guangdong Province,finally     

Strong Stand

<正>China will not loosen nationwide curbs on the housing market despite gains made in containing home prices The recent housing price cut sent a chill through Shanghai’s housing market like the first cold spell of the looming winter.Longfor Properties Co.Ltd.     

MARKET WATCH

As China's real estate industry is entering a new stage of medium-to-low speed growth, and the industry itself is undergoing readjust-ment, it becomes less able to push forward economic growth. Although the real estate market has been recovering since March, with transactions showing more activity and housing prices in major cities rising, major indicators of the in-dustry are falling.     

Chinese Consumers Go for Bricks and Mortar

In April 1980 Deng Xiaoping said, "Policies on housing construction and allocation in cities should be examined. Urbanites may purchase and build their own apartments. Not only new apartments may be sold, old ones may be too....." These were the words that sparked off China's housing reforms. The Chinese government has since concentrated on creating measures that will     

MARKET WATCH

A batch of macroeconomic statistics were published during the third week of June. The consumer price index, a key barometer of inflation, grew 3.4 percent from a year before. Government departments are still at ease about the rise, believing the index and inflation are still under control. China's trade surplus expanded again to $22.45 billion, leading to more pressure on yuan appreciation. The Chinese stock market grew steadily after a market correction in early June, while stocks from listed companies in Chongqing and Chengdu saw their prices soar on the news of their selection as the next set of pilot reform cities. Finally, China will further restrict foreign investment in the country's property market.     

Housing Conundrum

As a dominant force in the U.S. housing mortgage market, Fannie Mae and Freddie Mac will have a tremendous influence on the entire market and the broader economy.     

To the Rescue!

Local officials and the Central Government have different ideas about how to put the country's topsy-turvy real estate market back on track when Meng Qinghai, a correspondent for China Central Television, traveled to Shenzhen in July, he discovered a disturbing situation-one similar to the U.S. subprime mortgage crisis had emerged in one of China's most economically developed cities. Some home buyers there reported that they had stopped making their monthly pay- ments on their mortgages. The reason was simple: When their home prices dropped,     

MARKET WATCH

The World Bank forecasts a rosy prospect for the Chinese economy,despite a moderate slowdown in growth.The real estate market continues to cool,with an increasing number of cities experiencing price declines.China’s state-owned enterprises face a bumpy road ahead,with their profits shrinking quickly.The shipping giant COSCO is swimming in red ink due to tepid demands and overcapacity.China is expected to replace the United States as the world’s top e-commerce market by 2015.     

Business in Brief

China Raises Interest Rates on Private Mortgages China's central bank, the People's Bank of China, released a policy on March 17 aimed at adjusting commercial banks' private mortgage rates. It stated that rates on consumer housing loans would be lifted to "generally the same" as those on other loans, and would be no lower than 90 percent of its benchmark rates. Meanwhile, the minimum down payment in cities experiencing rapid increases in housing prices was raised from 20 to 30 percent. Regional commercial banks, however, can maintain some flexibility in setting mortgage rates, according to government policy and local real estate conditions. The People's Bank of China has made it clear that mortgage rates will continue to be raised, until they reach market standards.     

Tightening Home Purchase Limits

<正>More Chinese cities will limit home purchase to cool the red-hot real estate market In June 2011,the average house price in 100 Chinese cities was 8,856 yuan ($1,373)per square meter.Of these cities,house prices in 75 of them increased     

MARKET WATCH

House prices continue heading north in most Chinese cities,defying government efforts to curb the property market fever. Chinese companies press ahead with outbound mergers and acquisitions, as they expand their footprint beyond China’s borders. China has boosted its holdings of the U.S. Treasury Securities for two consecutive months after previously shedding these assets. State-owned enterprises continue along a profitable path, with profits soaring in the first half of this year. China remains the world’s hottest initial public offering (IPO) market, despite a decrease in IPO cases in the first half.     

MARKET WATCH

The hottest financial market topic of the moment could be the subprime loan crisis in the United States. The crisis has stormed the U.S. stock market, dragging it to its biggest falls in a single trading day. Other markets, such as Japan's, were also vulnerable to the crisis, but the Chinese stock market shrugged off the U.S. nightmare and continually hit record highs. Several big Chinese banks were involved in buying subprime mortgage securities and their profits could be affected moderately. Lenovo Group has a new ambition to acquire the high-end European Packard Bell PC business but is facing strong rivals. The Chinese Government is trying to revitalize the old industrial base in the north- eastern provinces. In the meantime, it has promised to invest more to maintain food safety. Foreign capital flowed into the property sector, jacking up housing prices on the mainland.