Here is a list of the day’s latest China real estate news collected from around the web:
China’s economic growth likely slowed for the second consecutive quarter, according to economists’ second-quarter forecasts, with anemic export performance taking a toll on the economy and increasing signs that credit driven-growth has run its course.
Growth in China’s gross domestic product likely slowed to 7.5% on-year in the second quarter from 7.7% in the first, according to the median forecast of 18 economists surveyed by Dow Jones. That would be the slowest pace since the third quarter of last year.
Some Chinese couples are filing for divorce or getting married to exploit loopholes in the recent housing price control policies. And they are faking it.
In early March, the State Council announced a ruling requiring those who own more than one apartment to pay a 20-percent income tax of the capital gains rather than the previous 1 to 2 percent.
Some of China’s retailers may have been struggling to overcome sluggish economic growth in China in the first half of the year, but big real estate developers are starting to post healthy gains in sales from a year earlier during the period.
Country Garden, controlled by billionaire Yang Huiyan, said sales in the first half shot up by 94% from a year earlier to 33.6 billion yuan, or $5.6 billion, on the strength of business in third- and four-tier cities and higher prices, according to a report in today’s Securities Times.
The Crystal Jade restaurant group is spreading its wings beyond Asia: It is opening a restaurant in San Francisco early next year.
Crystal Jade Jiang Nan is a US$7-million (S$8.9-million) joint venture between majority partner Crystal Jade Culinary Concepts, headed by chairman and chief executive Ip Yiu Tung, and MrGhassan Murad, a real estate developer and restaurateur.