More China Cities Tighten Real Estate Policies – Today’s China Real Estate Links | December 2, 2013

Here is a list of the day’s latest China real estate news collected from around the web:

• More China Cities Tighten Real Estate Policies

  Following earlier tightening moves by first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, 11 second-tier cities had announced curbs as of Thursday.

  Zhengzhou in Henan province issued tightening regulations in early September. The remaining 10 cities – Wuhan, Shenyang, Nanchang, Xiamen, Nanjing, Hangzhou, Changsha, Fuzhou, Taiyuan and Xi’an – announced new policies from Nov 22-28.

• Developer Hang Lung Tops Out Olympia 66 Project in Dalian

  Hang Lung Properties Limited announced recently that its Olympia 66 project in Dalian, China has now finished completion of the main structure.

  Mr. Philip N.L. Chen, Managing Director of Hang Lung Properties Limited, led a senior management team to meet with the Mayor of Dalian, Mr. Li Wancai, as well as other city officials on November 26 to report on the progress of the sister project of Shanghai’s Plaza 66, which is expected to be completed in 2015.

• Chinese developers reply to questions over unpaid land tax

  An escalating public dispute between state media and developers about unpaid land appreciation tax is shedding light on the deep-seated opposition facing mainland leaders as they expand economic reforms.

  On the surface, the dispute is about how much tax is unpaid but analysts say it runs deeper. The power of local authorities and money from developers are closely mingled, they say, making the push by central authorities to collect more tax a politically tough and sensitive challenge.

• China Developer Coastal Greenland Announces 47% Profit Leap

  Mainland China property developer Coastal Greenland Limited announced recently its interim results for the six months ended 30 September 2013.

  During the period under review, the Group has recorded a revenue of HK$1,280.1 million, an increase of approximately 7% as compared to HK$1,197.8 million for the corresponding period of last year. This increase was mainly attributable to the project management and construction service revenue of HK$194.8 million. Profit before taxation increased by approximately 47% to HK$131.7 million.

• China’s Nov factory growth clings to 18-month high

  China’s factory growth held at an 18-month high in November on firm domestic and foreign demand, defying expectations the economy faces a modest slowdown as 2013 draws to a close.

  The official Purchasing Managers’ Index (PMI) stood at 51.4 in November, the National Bureau of Statistics said, unchanged from October and ahead of market expectations for a reading of 51.1.

This list is updated daily, so tune in again tomorrow for more up to date information.

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