Here is a list of the day’s latest China real estate news collected from around the web:
Leading Chinese beverage producer Wahaha Group expanded its business Thursday when it formally opened a boutique shopping mall, called Waow Plaza, in Hangzhou, East China’s Zhejiang Province, in order to make European boutique products affordable to domestic consumers.
The Hangzhou-based company has focused full efforts on its boutique shopping mall project with an investment of 1.7 billion yuan ($273 million), and plans to open another 100 Waow Plazas around the country within three to five years after testing the waters in Hangzhou
Shanghai-based Fosun International Ltd took three other real estate giants to court Thursday in a dispute over whether it had the right to be the first to purchase its partners’ stakes in a project to develop a 9.22 billion yuan ($1.48 billion) site on the Bund, local media reported.
Fosun, which owns a 50 percent share in the project, argued that its fellow stakeholders, Hangzhou-based Greentown China and Shanghai Zendai Property, circumvented its priority rights to buy their shares when they sold their subsidiaries that owned the shares to the Beijing-based commercial real estate developer SOHO China.
China’s official manufacturing purchasing managers’ index rose to a seven-month high of 50.6 in November from 50.2 in October, the National Bureau of Statistics said on Saturday.
The headline figure is in line with an economist poll by Reuters this week, and confirms a trend toward recovering growth in the world’s second-largest economy.