Here is a list of the day’s latest China real estate news collected from around the web:
Hong Kong’s K11 group, the driving force behind Tsim Sha Tsui’s popular K11 Art Mall, has been buoyed by the response to the opening of a namesake shopping centre in Shanghai’s busiest shopping strip.
Adrian Cheng Chi-kong, an executive director of New World Development, says shoppers on the mainland have embraced with enthusiasm the concept of infusing culture and art into the shopping experience.
China’s real estate investment rose 20.3 per cent in the first half of 2013 from the same period a year earlier, while revenues from property sales in the country rose 43.2 per cent, the National Bureau of Statistics said on Monday.
The rise in investment compares with an increase of 20.6 in the first five months, while the increase in revenue compares with a 52.8 per cent rise in January to May.
China’s home sales transaction value rose 24 percent in June from the previous month, the biggest monthly gain this year, signaling that the government’s latest property measures are failing to deter buyers.
The value of homes sold climbed to 624.4 billion yuan ($102 billion) last month from 503 billion yuan in May, based on the difference between the National Statistics Bureau’s data for the first half of the year and the first five months. The June value was almost the same value of the sales in the first two months of the year combined. Housing sales in the first six months rose 46 percent to 2.82 trillion yuan from a year earlier, according to the data.
China’s economic growth slowed in the second quarter amid weaker industrial production and investment growth, the latest figures from the National Bureau of Statistics revealed Monday.
The gross domestic product rose 7.5 percent year-on-year in the second quarter, in line with expectations. This was slower than the 7.7 percent growth recorded in the first three months. In the first half of the year, GDP rose 7.6 percent compared with the same period last year.
China’s industrial value-added output rose 9.3 percent year on year in the first half of 2013, the National Bureau of Statistics (NBS) announced on Monday.
The pace was down by 0.2 percentage points from the growth rate in the first quarter this year, and further slows from a 10-percent full-year growth registered in 2012, the NBS data showed.