China Economic ReviewThe Shanghai municipal government suspended a tender for a prime waterfront development site in Pudong under pressure from Beijing, the South China Morning Post reported. The site abuts Shimao Riviera Gardens, where residential flats sell at a benchmark high of RMB30,000 (US$3625)/sq m. Hong Kong developers Sun Hung Kai Properties and Cheung Kong unit Hutchison […]
China's first quarter real estate investment grew 26.7% from a year ago, spurring rising housing costs, state media reported, citing official statistics. Data from the National Development and Reform Commission show housing prices for the country's 35 major cities grew 9.8% year-on-year during the first quarter.
Worried the soaring home prices may spark social unrest, China's State Council told officials at all levels in a published circular they are responsible for keeping China's property market from overheating in the interest of "financial safety and social stability," the Wall Street Journal reported. Issued at a time when Beijing is concerned about China's […]
Competition and capacity keep rising in China’s auto sector, while buyers watch their yuan
After a 1-1/2 year delay arising from concerns about the risks posed by the building's design, construction of the controversial US$560mn CCTV television center will begin in May, state media reported. The project, spanning over 20 hectares and expected to be completed in early 2009, is China's largest single real estate project. The building will […]