Here is a list of the day’s latest China real estate news collected from around the web:
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Is Developer Greenland Group About to Go Public?
The country’s real estate market has been buzzing with the possibility the securities regulator will loosen restrictions on property developers’ fundraising.
The cause for the chatter was speculation an industry leader was mulling acquiring a Shanghai-listed competitor.
Shanghai Jinfeng Investment Co. Ltd. CN:600606 -0.56% , a real-estate developer and service provider, announced on July 2 that it would suspend trading of its stock due to a “major event,” over which the company had asked for the opinion of China Securities Regulatory Commission (CSRC).
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Is Changzhou Becoming a Ghost City?
As a taxi driver in Changzhou for a decade, Zhang Weixin never thought his hometown would become a “ghost city” someday. In his eyes, the city seems to be doing better than ever.
Located at the heart of the Yangtze River Delta, the 2,500-year-old eastern coastal city of Changzhou used to be called the Dragon City, for its prosperity and wealth. But it has been facing harsh tail winds recently after some media reports labeled it a “ghost city.”
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Chinese Developer Proposes Rebuilding London’s Crystal Palace
Ni Zhaoxing, owner of Shanghai-based real estate company ZhongRong Holdings, has revealed an interest in creating an exact replica of the structure where it once stood, until it burned down in 1936.
Originally designed by Joseph Paxton, an Act of Parliament in 1990 stated that any new building on the site in Crystal Palace Park must be in the spirit of the building first erected in Hyde Park in 1851 for the Great Exhibition.
ZhongRong have appointed Arup engineers to work on the project, and are thought to be in early stage talks with Bromley Council and the Greater London Authority.
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Retailers planning to expand in China’s big cities – Savills
Most commercial retailers will have “aggressive” expansion plans in China this year despite various challenges in the country, according to a report released by a global real estate consultancy Monday.
According to a recent survey of around 100 retailers, a total of 71 percent of the respondents said that their demand for continued expansion in China is still robust, Savills (China) said in a report e-mailed to the Global Times Monday.
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Poly Real Estate’s Debt Falls in Trading as Asia Bond Risk Rises
Bonds sold by Poly Real Estate Group Co. (600048), the first U.S. dollar-denominated notes from a Chinese issuer in almost eight weeks, fell in their first day of trading. Asia bond risk climbed.
The Guangzhou-based developer sold $500 million of five-year bonds at 99.061 cents on the dollar yesterday, data compiled by Bloomberg show. The securities were quoted as low as 98.529 cents on the dollar today before rallying to 98.98 as of 10:36 a.m. in Hong Kong, according to Royal Bank of Scotland Group Plc prices. -
Preparing for China bubbles to burst: Andy Xie
Some financial accidents, e.g., trust products defaulting, may occur in the coming months. Their impact on the real economy will be limited. As the land bubble deflates, the resulting reductions in production costs and consumer prices should support the real economy by boosting exports and consumption.
When a few financial incidents occur simultaneously, the sense of panic may spread. The impact, however, should be short-lived. China’s land bubble has become almost entirely a financial phenomenon. Its problems should be contained within a small though vocal community.
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China Crack Down On Property Bubble Sends Rich To House Hunt Abroad
Money knows no boundaries.
Over the last two years, the Chinese government has been wrestling with a property bubble on the mainland. The same can be said about Hong Kong, where, according to Knight Frank, despite less sales in the market, housing prices rose over 20% recently. The government has increased down payments and taxes on new property purchases, making it more complicated for buyers. The wealthiest of the lot are now looking overseas to invest in second and third homes.
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