Economists See Further Slowdown in China – and more of Today’s China Real Estate Links | July 9, 2013

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

• Economists See Further Slowdown in China

  China’s economic growth likely slowed for the second consecutive quarter, according to economists’ second-quarter forecasts, with anemic export performance taking a toll on the economy and increasing signs that credit driven-growth has run its course.

  Growth in China’s gross domestic product likely slowed to 7.5% on-year in the second quarter from 7.7% in the first, according to the median forecast of 18 economists surveyed by Dow Jones. That would be the slowest pace since the third quarter of last year.

• Matrimony and its ending offers loophole in China real estate

  Some Chinese couples are filing for divorce or getting married to exploit loopholes in the recent housing price control policies. And they are faking it.
  In early March, the State Council announced a ruling requiring those who own more than one apartment to pay a 20-percent income tax of the capital gains rather than the previous 1 to 2 percent.

• China Property Developers Unveil Big Gains in 1st-Half

  Some of China’s retailers may have been struggling to overcome sluggish economic growth in China in the first half of the year, but big real estate developers are starting to post healthy gains in sales from a year earlier during the period.

  Country Garden, controlled by billionaire Yang Huiyan, said sales in the first half shot up by 94% from a year earlier to 33.6 billion yuan, or $5.6 billion, on the strength of business in third- and four-tier cities and higher prices, according to a report in today’s Securities Times.

• Crystal Jade restaurant group to open in San Francisco

  The Crystal Jade restaurant group is spreading its wings beyond Asia: It is opening a restaurant in San Francisco early next year.

  Crystal Jade Jiang Nan is a US$7-million (S$8.9-million) joint venture between majority partner Crystal Jade Culinary Concepts, headed by chairman and chief executive Ip Yiu Tung, and MrGhassan Murad, a real estate developer and restaurateur.

This list is updated daily, so tune in again tomorrow for more up to date information.