China Industrial Profits Increased 5.3% in 2012 – and more of today’s China Real Estate Links | January 29, 2013

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

• China Industrial Profits Increased 5.3% in 2012

  In 2012, the industrial profits of enterprises above designated size achieved 5,557.8 billion yuan, a year-on-year increase of 5.3 percent. In December, the industrial profits of enterprises above designated size achieved 895.2 billion yuan, a year-on-year increase of 17.3 percent.

  In 2012, the profits of state-owned and state-holding industrial enterprises above designated size gained 1,416.3 billion yuan, decreased 5.1 percent, that of collective-owned enterprises reached 81.9 billion yuan, increased 7.5 percent, that of joint-stock enterprises stood at 3,286.7 billion yuan, increased 7.2 percent, that of foreign funded enterprises, and enterprises funded from Hong Kong, Macao and Taiwan achieved 1,268.8 billion yuan, decreased 4.1 percent, and that of private enterprises gained 1,817.2 billion yuan, increased 20.0 percent, year-on-year.

• Chinese Developers Set Sights On Cyprus

  The Cypriot property market could be about to receive a boost from China, with developers from the country looking to Europe for investment. Christos Mavrellis, managing partner with Chrysses Demetriades & Co LLC, told the China Daily that Asian developers are planning to buy land in Cyprus or enter into joint ventures with local developers to build homes for Chinese people.

  While Mr Mavrellis did not reveal the names of those entities with their sights set on Cyprus, he explained that the residency scheme, offered to foreign buyers who purchase property in the country, is attracting the Chinese market and developers are eager to take advantage of this.

• Thailand’s Dusit hotel venture hopes to lure Chinese

  “Dusit International, a local hotel management company, is confident that the recent joint venture with Changzhou Qiao Yu Group will help to expand its Chinese customer base from the current 5% to at least 15% by 2020.

  Dusit has seriously focused on the China market as it sees considerable room to grow in this market and believes that the expansion will strengthen the market network in the future.

  Under the agreement signed last week, a new company, Dusit Fudu International Management (Shanghai) Co, was set up with registered capital of RMB30 million.”

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