Here is a list of the day’s latest China real estate news collected from around the web:
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Wharf’s China Investment in Greentown Expected to Pay Big Dividends
Wharf (Holdings) is looking forward to reaping the benefits of an aggressive acquisition binge on the mainland that has expanded its land bank to 18 million square metres since 2007.
Last year, the conglomerate accelerated its investment in the mainland by acting as a white knight to rescue financially troubled Greentown China.
Through a deal involving 5.1 billion yuan (HK$6.3 billion) of shares and convertible notes, Wharf will hold a 24.6 per cent stake in the mainland developer that could be increased to 35.1 per cent if it converts the notes.
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China releases more details on Shanghai free trade zone
Chinese regulators published new details on planned reforms for a free trade zone launched in Shanghai earlier this year, as Beijing moves to sustain enthusiasm in the face of resurgent investor scepticism.
The list of reforms published by the People’s Bank of China (PBOC) on Monday was more detailed than previous lists but did not increase the proposed net scope of reforms in the zone, which already includes deep changes to the country’s exchange rate regime, cross-border investment flows and interest rates, alongside wide-ranging reforms to trade in goods and services.
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China’s non-manufacturing PMI drops in November
The purchasing managers index (PMI) for China’s non-manufacturing sector stood at 56 percent in November, down from 56.3 percent for October, according to official data released on Tuesday.
A PMI reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.
The non-manufacturing PMI tracks service, construction, software, aviation, railway transport and real estate among other sectors, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).
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China Property Market to Face New Pressures Next Year
China’s red-hot property market likely will face new pressure next year, as local governments move to cool the market and developers build on new supplies of land.
A slowdown in house-price increases—which have posted double-digit increases for months—could help Beijing in its campaign to keep housing affordable for its vast population. But it isn’t clear whether either trend will be enough to tame the market in the face of strong demand to buy homes.
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AMC Entertainment Theater Chain Seeks $368 Million in IPO
AMC Entertainment Holdings Inc. (AMC), the U.S. movie chain controlled by China’s richest man, plans to raise as much as $368 million in an initial public offering.
The company, based in Leawood, Kansas, plans to sell 18.4 million shares at $18 to $20 each, according to a statement yesterday. AMC Entertainment said it will use the proceeds to reduce debt and for general corporate purposes. The company said in August it may seek to raise as much as $400 million.
The offering of Class A shares would return AMC, the second-largest U.S. theater chain by revenue, to a public listing for the first time in nine years. It was acquired last year by Dalian Wanda Group for $2.6 billion, including assumption of debt.”
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New Ritz-Carlton Hotel to Open in Nanjing in 2015
The Ritz-Carlton Hotel Co., L.L.C. continues to expand in China, with the opening of a new hotel in the former Chinese capital of Nanjing, in Jiangsu Province.
The company has partnered with Nanjing New Universe Real Estate Development Co., Ltd. to develop the property, which will be located in the city’s Xiejiekou central business district.
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