China non-manufacturing PMI rebounds to 54.1 pct in July – and more of Today’s China Real Estate Links | August 5, 2013

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

• China non-manufacturing PMI rebounds to 54.1 pct in July

  The purchasing managers index (PMI) for China’s non-manufacturing sector rebounded after falling for three consecutive months, according to official data released on Saturday.
  The non-manufacturing PMI stood at 54.1 percent in July, up from 53.9 percent for June, according to the National Bureau of Statistics and the China Federation of Logistics and Purchasing (CFLP).
  A PMI reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.

• China developers returning to offshore loan market

  Chinese property companies are returning to the offshore loan market as rates on offshore bonds rise and local liquidity becomes scarce.

  For Chinese developers, July was one of the busiest months for loans, with at least 10 sizable financings completed. Bankers say the Hong Kong loan market has become more attractive lately largely because borrowers have fewer places to go for capital.

• Thailand’s Dusit signs China JV to Manage 30 Hotels and Resorts

  Thai hospitality group Dusit International and China-based real estate developer Changzhou Qiao Yu Group have established Dusit Fudu Hotels and Resorts, a joint venture hotel management company that will spearhead Dusit International’s continued expansion in China.

  Its major shareholders include Dusit International, Changzhou Qiao Yu Group and noted hospitality veteran Giovanni Angelini, former CEO of Shangri-La Hotels and Resorts.

  “Dusit Fudu Hotels and Resorts will develop the Dusit Thani, dusitD2, Dusit Devarana and Dusit Princess brands throughout China,” said Chen Li Bin, Chairman of Dusit Fudu. “We look forward to a very successful future with this newly formed management company.”

• China home price inflation quickens in July – surveys

  China’s property inflation quickened in July amid signs of greater official tolerance of rising home prices as economic growth slows, two private surveys showed on Thursday.

  Home prices in 288 major cities rose 0.8 percent in July from June, accelerating from June’s monthly increase of 0.4 percent and snapping two months of slowing property inflation, a poll by a real estate services company E-House China showed.

  Compared to a year ago, house prices jumped 11 percent in July, quickening from June’s 10.5 percent annual gains, E-House said.

• China moves to eliminate financial scam advertisements

  China kicked off a nationwide campaign on Thursday to do away with advertisements for financial scams promising big returns at no risk, highlighting concern over the potential for trouble as financial know-how lags behind rising personal wealth.

  The China Banking Regulatory Commission said the three-month “clean-up campaign” would take aim at the huge number of advertisements in China for wealth management products, no-interest loans, real estate and many other “no-risk, high-return” schemes from planting forests to breeding animals.

  A commission statement said the campaign would “protect the legitimate interests of the masses” and “clean up the market environment”.

This list is updated daily, so tune in again tomorrow for more up to date information.