Here is a list of the day’s latest China real estate news collected from around the web:
- Oriental DreamWorks Plans Shanghai Headquarters in Xuhui
Oriental DreamWorks, the toon joint venture set up by DreamWorks Animation and a state-backed Chinese consortium, will be the flagship company at a new media center being developed in Shanghai’s West Bank Media Port. The local government aims to transform the 47-acre site, located in Xuhui district on the west bank of the Huangpu River, into a landmark cultural center for film and TV production, and digital entertainment.
- Housing price decline slows down
The latest figures from the National Bureau of Statistics show that residential house prices declined at a significantly slower rate in May, triggering concerns over a short-term rebound in prices. In May, of the 70 large and medium-sized cities monitored by the bureau, 43 cities’ sale prices declined, there was no change in 21, and six saw an increase.
- Long-term policies needed for housing
On Monday, the National Bureau of Statistics released the data for housing prices among 70 large- and medium-sized cities in May. The price of new housing has stayed stable but the price of second-hand housing has significantly changed in many cities. Yet residents in many first-tier cities, such as Beijing, Shanghai and Shenzhen, have sensed a rise in housing prices, contrary to the statistics.
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