China Cuts Lending Rate as Economy Slows – and more of Today’s China Real Estate Links | June 8, 2012

Here is a list of the day’s latest China real estate news collected from around the web:

• China Cuts Lending Rate as Its Economic Growth Slows

  Faced with a sharply slowing economy, weak exports and faltering investment, China unexpectedly announced late Thursday that it would cut interest rates by a quarter of a percentage point. The action, by the People’s Bank of China, represents the strongest measure by the Chinese government to counteract an economic malaise that has infected Europe and the United States and now seems to be affecting China faster and more extensively than most policy makers or private economists had anticipated.

• Angry Birds Retail Stores Land in China

  Rovio, the Finland-based creator of the popular Angry Birds game has announced it will open retail stores in Beijing and Shanghai where fans can buy game-related products, the Beijing Morning Post reports. The stores will open in early July and sell clothing, watches, iPhone and iPad cases, and plush toys.

• China To Keep Tight Grip On Housing

  Any top down fund managers out there who were hoping China’s heavy hand on housing would ease up following weakening headline data is in for a rude awakening. Beijing has no intention to loosen its grip on the country’s runaway housing prices.

• China MOF Says Still Working To Curb Real Estate Speculation

  China’s Minister of Finance said his government is looking at ways to improve its clampdown on speculation in the housing market while ensuring “reasonable” returns from real estate. A transcript of a speech by Xie Xuren, posted Thursday, suggests that Beijing remains unwilling to loosen its extensive controls on the housing market, despite a sharp slowdown in economic growth.

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