Here is a list of the day’s latest China real estate news collected from around the web:
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China’s land market reaches 5-year high as developers replenish pipelines
China’s land market sizzled in May, with the land transfer fees in the country’s 10 key cities reaching a record high since 2008, industry statistics showed, indicating pressure for further home price hikes in the market.
The land transfer fees in the 10 major cities monitored by E-House China Real Estate Research and Development Institute stood at 66.99 billion yuan ($11.2 billion) last month, an increase of 392.6 percent year-on-year, a report from the institute showed.
Meanwhile, the average price of transacted land parcels was 3,015 yuan per square meter in May, up 215.7 percent over the same period last year. It also reaching a three-year high, according to the report.
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China’s Stocks Rebound From Four-Year Low as Developers Rally
China’s stocks rebounded from a four-year low, led by financial companies, after money-market rates dropped and on speculation the government will ease financing for developers to alleviate a credit crunch.
Industrial & Commercial Bank of China Ltd. (601398) and PetroChina Co., which have the two biggest weightings on the Shanghai Composite Index, rallied the most since 2010 in the last 15 minutes of trading. China Vanke Co. (000002) and Poly Real Estate Group Co., the largest developers, surged more than 6 percent, leading a measure of property stocks to the biggest gain in four months.
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China average home prices rise in June
Average housing prices in 100 of China’s cities continued to rise in June from a year earlier, but compared with a month earlier, prices rose at a slower rate for the third straight month, figures from private data provider China Real Estate Index System showed Monday.
Residential housing prices were up 7.40% from a year ago in June, for the seventh monthly year-on-year rise, after a 6.90% gain in May. But the on-month increase eased to 0.77% from May’s 0.81%, according to the index based on a survey of developers and real-estate companies.
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China to investigate military construction projects
China will launch a sweeping investigation into construction and real estate projects owned by the military.
Fan Changlong, vice chairman of the Central Military Commission (CMC), told a national teleconference held Thursday that the investigation should be “thorough, accurate and reliable.”
Fan ordered military leaders to properly manage military real estate assets, strictly control the number of new construction projects and practice frugality in construction projects.
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China’s longer term for visas to attract overseas talent
Overseas candidates with management experience at leading multinationals and top specialists in education and science are eligible to apply for a talent visa in China, according to draft legislation.
A draft soliciting the opinions of government insiders and experts suggests the country has outlined the key points in evaluating whether a foreign professional is “urgently needed”, an issue widely discussed since the Exit-Entry Administration Law was passed in June last year.
“Urgently needed” professionals, as stated in the law, will be able to apply for the new talent visa, which grants residency for up to five years, or multiple entries for up to 180 days at a time.
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