Here is a list of the day’s latest China real estate news collected from around the web:
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Standard Chartered Predicts Rosier China Economy in 2nd Half
China’s economy continued to decelerate in the second quarter of 2012 but will stabilize and recover in the second half this year with the help of stimulus measures, Standard Chartered said in a report released Monday.The report, titled The Renminbi Insider, China’s Better Half, said China’s GDP growth slowed to 7.6 percent year-on-year in the second quarter from 8.1 percent in the first quarter. However, measures to curb the downside have already been implemented – notably, lower interest rates and more infrastructure spending – which should result in a mild recovery in the third quarter.
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Credit Agency Says Evergrande is Stable – But Not Great
Fitch Ratings has affirmed Hong Kong-based Evergrande Real Estate Group Limited’s (Evergrande) Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘BB’ with Stable Outlook. Fitch has also affirmed Evergrande’s foreign currency senior unsecured rating at ‘BB’.The ratings reflect Evergrande’s limited track record on sustainable growth as the company has just completed its rapid expansion for the past three years.
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China Echoes 2009 Stimulus With Railway Spending Boost
China’s railway infrastructure investment may double in the second half of this year from the first six months, aiding efforts to reverse a slowdown in the world’s second-biggest economy.
Full-year spending will be 448.3 billion yuan ($70.3 billion), according to a statement dated July 6 on the website of the National Development and Reform Commission’s Anhui branch. The document indicates a 9 percent increase from a previous plan of 411.3 billion yuan. Spending was 148.7 billion yuan in the first half.
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