Here is a list of the day’s latest China real estate news collected from around the web:
Global private equity firm Warburg Pincus has ended its six-year relationship with Greentown China (3900) by selling its entire stake in the mainland developer.
The New York-based firm sold 45 million shares of Greentown last night at HK$9.16 to HK$9.36 each, a big discount of 8.03 percent to the closing price.
Mainland developers raised more than 10 billion yuan ($1.6 billion) in the overseas market in October and at least five of them are seeking to use initial public offerings to raise more than $2 billion and be listed on the Hong Kong Stock Exchange by the end of 2012.
The China Securities Regulatory Commission, as part of the government’s effort to cool the overheated property market, has not approved a property developer’s plan for a listing on the Chinese mainland’s A-share market since 2007.
A total of 14 property developers had posted their January-October performance reports as of Thursday, and the climbing sales revenue indicated a warmed-up market.
The developers sold about 436.9 billion yuan ($69.24 billion) worth of property in the past ten months, up 14.5 percent from the same period last year.
These developers include China Vanke Co, the nation’s biggest property developer, and Poly Real Estate Group Co, the second-largest by market value. More developers will publicize their reports soon.
China’s central bank governor and statistics chief signaled October data to be published from tomorrow will show growth improving this quarter in the world’s second-largest economy.
Some indicators are rebounding and the economy is stabilizing, Zhou Xiaochuan, head of the People’s Bank of China, said today in Beijing at a briefing during the Communist Party’s 18th Congress.