Here is a list of the day’s latest China real estate news collected from around the web:
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Embrace consumption, IMF’s Zhu urges China
A top International Monetary Fund official warned on Tuesday of the need for China to follow through on plans to shift its economy from an investment-driven model to one that relies on domestic consumption.
Zhu Min, one of the IMF’s three deputy managing directors, said the key to this transition is economic reform and the quality, rather than the rate, of growth.
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China’s Stocks Slump to Two-Month Low on Property Curbs
Chinese stocks fell, dragging the benchmark index to a two-month low, as real estate and construction companies tumbled on concern policy makers will step up property curbs.
Sina.com reported the southern city of Shenzhen banned developers from raising home prices, citing discussions with property companies.
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E-House Reports Fourth Quarter and Full Year 2012 Results
E-House (China) Holdings Limited today announced its unaudited financial results for the fiscal quarter and full year ended December 31, 2012, and declared a cash dividend of $0.15 per ordinary share.
Fourth Quarter 2012 Financial and Operating Highlights
Total gross floor area (“GFA”) of new properties sold was 6.5 million square meters, an increase of 53% from the same quarter of 2011.
- Total value of new properties sold increased by 52% year-on-year to RMB51.8 billion ($8.3 billion)[1].
- Total revenues increased by 30% year-on-year to $152.6 million.
- Non-GAAP[2] income from operations was $9.5 million.
- Non-GAAP net income attributable to E-House shareholders was $9.5 million, or $0.08 per diluted American depositary share (“ADS”).
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