Here is a list of the day’s latest China real estate news collected from around the web:
Shares in China Vanke Co Ltd shot up by their daily limit on Monday after the major property developer said its foreign-currency B-shares would move to Hong Kong, the second firm to have left the mainland’s moribund B-share market in Shenzhen.
Vanke’s B-shares, which are denominated in Hong Kong dollars, opened up 10 percent – the maximum intraday gain mainland shares are allowed to post – at HK$13.75 ($1.77) per share from HK$12.50 at last close.
Its yuan-denominated A-shares also opened at the top of the trading limit, at 11.23 yuan ($1.81) per share, up from 10.21 yuan.
China’s recovery from its longest slowdown in growth since the global financial crisis is being driven by the two forces posing the biggest risks to the economy’s increasingly urgent need to rebalance – investment and property.
The central government wants to raise consumption’s share in the economy as the cornerstone effort to close one of the world’s widest gaps between rich and poor and quell the discontent among those Chinese who feel they missed out on the country’s blistering expansion of the past three decades.
Central China Real Estate Ltd. (832) and China SCE Property Holdings Ltd. (1966) are marketing U.S. dollar- denominated bonds, adding to the record $6.05 billion raised by Hong Kong and Chinese developers this year.
Central China Real Estate, part-owned by Southeast Asia’s biggest property developer CapitaLand Ltd., is offering seven- year securities to yield about 8.125 percent, while China SCE and China Aoyuan Property Group Ltd. are marketing more of their existing 2017 bonds, according to people familiar with the matters. Future Land Development Holdings Ltd., based in Shanghai, also plans to sell securities in the U.S. currency, according to a company statement to the Hong Kong stock exchange today.
Average home prices in 70 Chinese cities rose for the seventh straight month in December, indicating a warming property market following government pro-growth measures, according to official data released Friday.
Fifty-four of the 70 cities saw a rise in property prices month-on-month, up from 53 in November, the data released by the National Bureau of Statistics (NBS) showed. Meanwhile, eight cities experienced a fall, still down from November’s ten.