A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market, reports Reuters. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked for RMB 10.4 […]
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China home prices fell the most in eight years in October, signaling the property slump is worsening even after the government ramped up efforts to revive demand, reports Caixin. New-home prices in 70 cities, excluding state-subsidized housing, declined 0.38% last month from September, when they dropped 0.3%, National Bureau of Statistics figures showed Thursday. The […]
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Buying time
The China system is facing a whole bunch of domestic problems, economic and social, structural and financial, and it has long been argued by some that this is not a good time to be at loggerheads in so many directions externally. The Ukraine war created a rift with Europe, and the relationship with the US […]
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Biden, Xi meet in San Francisco
Joe Biden and Xi Jinping have begun a high-profile summit in San Francisco in a renewed attempt to stabilise US-China relations after several years of rising tensions and mounting concern about a possible conflict over Taiwan, reports the Financial Times. The US administration played down expectations ahead of the Wednesday meeting, saying it was focused […]
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Xiaomi provides first look at debut EVs
Chinese smartphone giant Xiaomi Corp. is about to debut its long-expected electric vehicles, registering two models with the Ministry of Industry and Information Technology, reports Caixin. The two models, branded as Beijing Xiaomi SU7 and SU7 Max, will be manufactured by a unit of state-owned Beijing Automotive Group at a factor owned by Xiaomi in Beijing, […]