China Vanke Q3 net profit up 18% from year earlier – and more of Today’s China Real Estate Links | October 31, 2013

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

• China Vanke Q3 net profit up 18% from year earlier

  China Vanke Co Ltd, the country’s largest real estate developer by sales, posted a 18 percent rise in third-quarter profit as its strategy to build mid-tier apartments helped cushion the impact of government property curbs.
  For the July September period, Vanke’s net profit rose to 1.6 billion yuan ($262.92 million) from 1.35 billion yuan a year earlier, the company said in a filing on the Shenzhen stock exchange on Tuesday.
  During the quarter, China Vanke posted revenue of 20.7 billion yuan, up 44.8 percent from a year ago.

• DTZ’s Francis Li feels bullish on China property market

  The DTZ North Asia investment team headed by Francis Li has brokered property deals on the mainland valued at some 18 billion yuan (HK$22.8 billion) since the beginning of the year, the most since the company was established in 1993.

  By comparison in Hong Kong the total value of transactions worth HK$100 million or more completed in the first half of this year amounted to HK$20 billion, Li said in an interview in his office on the 16th floor of Jardine House in Central.

• KL a prime new-build market for China investors

  Kuala Lumpur has been listed as one of the favourite prime new-build markets for property and real-estate investors from China, according to a report compiled by Knight Frank.

  Its global head of residential research Liam Bailey said the Chinese are the most influential buyers in the world’s prime new-build sector.

  “Chinese are the top purchasers of new-build residential properties in Sydney and Hong Kong and are active buyers in both Kuala Lumpur and Bangkok’s prime new-build markets,” Bailey said yesterday.

• Beijing, Shanghai divorces soar over property tax

  Nearly 40,000 couples divorced in the Chinese capital in the first nine months of this year, jumping 41 percent on the same period in 2012, according to figures released by Beijing’s civil affairs officials this month.

  Similarly, divorces in Shanghai — where concerns over the tax were high — leaped almost 40 percent over the same period, data from authorities in the commercial hub showed.

  But figures from the southwestern metropolis of Chongqing, where the tax has yet to be imposed, had divorces there rising by just over seven percent.

• Shanghai, Beijing post slowest GDP growth

  Shanghai and Beijing posted the slowest economic growth in the first three quarters of this year among China.s 25 provincialareas which have released their economic data due to the two cities. greater efforts on economic restructuring, analysts said.

  The gross domestic product of the two cities grew 7.7 percent from a year earlier in the first nine months, according to their statistics bureaus, putting them at the bottom of the growth rates among the country.s 25 provincial areas which have released the data. But the two cities. growth rate was the same as the national level.

• Easier company registration to help SME growth

  The Chinese government’s latest move to streamline company registration offers a prime opportunity for business startups, especially small and medium-sized enterprises (SMEs), analysts said.

  On Oct 27, the government announced that it would streamline its corporate registration system to ease market access and encourage social investment, according to a statement issued after a State Council executive meeting. Minimum registered capital requirements for limited liability companies, one-person limited liability companies, as well as joint-stock companies with limited liability will be scrapped, the statement said.

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

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