Here is a list of the day’s latest China real estate news collected from around the web:
- Chinese developer Fosun starts civil suit over plot on Shanghai’s Bund
Chinese developer Fosun International said on Thursday it has started a civil action in a Shanghai court over the acquisition of a plot of land on Shanghai’s Bund. Rival developer SoHo China said last December it had bought a 50 percent stake in the Shanghai commercial project for 4 billion yuan ($630 million) from Greentown China Holdings and several other domestic firms.
- Falling Behind Competitors In China, De Beers Expands
With China, India and the Middle East poised to collectively take over the US in diamond purchases by 2015, major diamond miners and jewelers have continued to invest heavily in marketing and expansion, with China becoming a particular point of focus in recent years. Steadily growing middle-class demand, as well as regular bidding at auction on rarer and larger pieces, has enticed most of the world’s major diamond brands to enter the mainland China market or, at least, Hong Kong, creating a retail battleground in cities like Shanghai and Beijing.
- China Stocks Seen Rising 15% by Goldman Partner on Growth
While the Chinese government is vowing not to spend as it did during the 2008 global financial crisis, the most accurate analysts say the benchmark index for the nation’s stocks will keep rising. The Shanghai Composite Index is poised to gain 15 percent from yesterday’s close to 2,750 by year-end as slowing inflation allows the government to loosen monetary policy and banks to lend more to companies, according to Beijing Gao Hua Securities.
- Decathlon Signs Fourth Store In Suzhou
The world’s leading sports retailer Decathlon has signed a new store in Suzhou, which is the company’s fourth outlet in the city. Located in Jinchang district, the new Decathlon store is expected to open in October 2012. Since Suzhou’s first Decathlon store opened in Suzhou Industrial Park, its products appear to have been well-accepted by local consumers. The opening of the fourth store represents Decathlon’s determination and confidence in expanding its retail network in eastern China.