Here is a list of the day’s latest China real estate news collected from around the web:
- China demands property cooling policies be enforced
The State Council on Friday released guidelines instructing local governments to strictly follow policies introduced to cool the mainland’s housing market.
“It’s now a crucial period for implementing measures on the housing market, as flat prices are expected to post stronger increases,” the State Council said in guidelines dated February 26.
The directives include asking authorities to curb speculative activities in the home market by, for example, strictly implementing the government’s 20 per cent tax on property reselling.
- China ranks 2nd for billionaires with developers leading the way
CHINA has the second largest number of dollar billionaires after the United States, most of them involved in property, according to the Hurun Global Rich List issued yesterday.
Hurun, a China-based magazine, said there were 1,453 dollar billionaires as of January 17, 409 based in the US and 357 in China.
Asia had 608 billionaires, overtaking North America’s 440 for the first time. Europe has 324.
- Vanke earnings lay foundation for A-share rally
Most shares trading in Shanghai and Shenzhen gained Thursday as China Vanke Co’s rising earnings tide lifted most of the markets’ boats.rising earnings tide lifted most of the markets’ boats.
The Shanghai Composite Index rose 52.37 points, or 2.26 percent, to close at 2,365.59; while the Shenzhen Component Index finished at 9,651.44 after surging 308.2 points, or 3.3 percent.
Both indices opened higher after an impressive 2012 financial report from China Vanke Co, the country’s largest property developer by market value, stoked optimism about corporate earnings.
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