For Chinese property developers, this week marks the closing of the first month under a new tax system that could either bring a reduction in costs, or new bureaucratic headaches to the industry.
The value-added tax (VAT) was rolled out… Read More>>
Xinhua Cites Spectre of Money Laundering After Chinese Student Buys $24M Vancouver Mansion
The growing wave of overseas property purchases by Chinese nationals could fuel money laundering, Chinese state media has warned, after it emerged recently that a Chinese student reportedly bought a C$31 million ($23.5 million) mansion in Canada.
In an unusually… Read More>>
Beijing Storefronts Now Selling the American Dream and Golf
For many rich residents in the neighbourhood of Shuangjing near Beijing’s central business district, South Carolina is not far away.
Decorated with transparent glass and maroon-coloured signs, USA City Exhibition, situated on a bustling, narrow street corner flanked by high-end… Read More>>
Chinese Govt Investigating Anbang Following Failed $14B Starwood Bid
Anbang Insurance’s abrupt and unexplained withdrawal from a $14 billion bid for Starwood Hotels and Resorts last month came as a surprise for many observers who had tracked the sudden rise of the privately held mainland firm.
Now the China… Read More>>
Beijing Cracks Down on SOHO Office Sales After Tongzhou Deals Jump 1432%
Already home to China’s most stringent home purchase rules, Beijing last week announced fresh curbs on the property market in the city’s Tongzhou District, an area slated to become an important political and residential hub where a bulk the city’s government… Read More>>
$8.3B in Chinese Tourist Spending Boosts Australia’s Gold Coast
Australia is losing an important source of export revenue as its mining boom has waned in the face of China’s economic slowdown. Now, in an effort to spur growth, the country is turning its attention to deep-pocketed Chinese tourists looking… Read More>>
Surge in Housing Starts Could Be Bad News for China’s Stock of Unsold Homes
China’s economic maestros achieved a victory in the first quarter, as recovering home sales helped to rekindle real estate investment, and rebounding land sales helped to refill the coffers of local governments. However, the rally has raised questions about the… Read More>>