China well on way to more balanced economy: analysts – and more of today’s China Real Estate Links | July 24, 2012

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

• China well on way to more balanced economy: analysts

  China’s economic growth is expected to rebound in the second half of 2012 and the country is well on the way to achieving more balanced growth, according to analysts in Kuala Lumpur. China’s National Bureau of Statistics said earlier this month the nation’s gross domestic product (GDP) grew 7.6 percent in the second quarter, the lowest growth since the second quarter of 2009.

• China has 60,000 billionaires

  More than 50 percent of assets owned by wealthy Chinese stay in the form of currency and deposits, which means they are in dire need of finance management, Yanzhao Metropolis Daily reported on Friday.The Chinese Luxury Consumer White Paper 2012 said there are 2.7 million high net worth individuals in China, with personal assets of more than 6 million yuan ($950,000)and the average age is 39 years old.

• China Central Bank Adviser Forecasts Growth Slowdown to 7.4%

  A Chinese central bank adviser predicted the nation’s expansion may cool to 7.4 percent this quarter, adding to concern that the world’s second-biggest economy has yet to bottom out.
  Song Guoqing, an academic member of the People’s Bank of China monetary policy committee, also warned that a decline in producer prices in tandem with consumer inflation may hurt investment returns of industrial companies, damping their desire to expand.

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