Real Estate & Economic News in China from Propertyshowrooms.com

China's economy grows 9% in 2008

Thu, 22 Jan 2009 00:00:00 GMT

China's GDP reached 30.0670 trillion yuan (4.4216 trillion U.S. dollars) in 2008, up 9 percent year on year, said the National Bureau of Statistics Thursday...

Firms in ‘China’s Silicon Valley’ doing well

Wed, 21 Jan 2009 00:00:00 GMT

A local government official has said that enterprises in Beijing’s Haidian District, cradle of ‘China’s Silicon Valley’, are still performing well amid the financial crisis. Liang Jie, director of the Haidian Investment Promotion Bureau, at the Symposium for Bilateral Investment Promotion Mechanisms held in Beijing , said, ‘The impact of the crisis on enterprises here has...

Foreign direct investment falls 5.7%

Wed, 21 Jan 2009 00:00:00 GMT

Foreign direct investment in China has declined for a third month. The commerce ministry said at a briefing in Beijing investment fell 5.7% to $5.98 billion in December from a year earlier. House prices in the nation’s 70 major cities fell for the first time on record in December, and exports are waning because of recessions...

China housing prices fall

Sun, 18 Jan 2009 00:00:00 GMT

State media reports Chinese property prices fell in December for the first time since 2005. The price of housing in 70 major cities fell 0.4% year-on-year according to a statement issued by the National Development and Reform Commission, the country’s top economic planning agency, and the National Bureau of Statistics. The southern boom town of Shenzhen, which...

China slowdown 'big global risk'

Tue, 13 Jan 2009 00:00:00 GMT

An economic slowdown in China is one of the biggest risks the world is facing this year, the World Economic Forum warns...

Pearl river delta to become on major zone

Mon, 12 Jan 2009 00:00:00 GMT

The Pearl River Delta, the former vanguard of China’s economic reform, will become the country’s new testing ground. Under a plan released by the National Development and Reform Commission, the delta, together with Hong Kong and Macau, will be forged into a globally competitive zone. The aim is make it the most dominant zone in the...

Fewer visitors to China last year despite Olympics

Sun, 11 Jan 2009 00:00:00 GMT

The number of travelers to China dropped by 2 million in 2008 in what was supposed to be a banner year for tourism. Instead, it became one dampened by Olympics-related security measures and the global economic crunch. The overall number of visitors to China dropped to 130 million in 2008, from 132 million in 2007, 2.6%...

Tibet cuts fares, hotel rates to attract winter tourists

Sun, 4 Jan 2009 00:00:00 GMT

Tibet’s tourism market — badly affected by riots in March — has cut travel and hotel costs in hopes of luring domestic and international sightseers. Deputy chief of the tourism bureau, Wang Songping, said the bureau is promoting a winter tour package:’Most of the tourist attractions, airline companies, hotels and travel services joined the promotion and...

Chinese premier says innovation can reduce impact of global crisis

Fri, 2 Jan 2009 00:00:00 GMT

During a visit to Haier, the country's largest appliance maker, the premier praised its sales promotion and services in rural areas as a factor stimulating rural consumption, which he said would help ease the impact of the global financial crisis...

China publishes details of real-estate stimulus package

Sun, 21 Dec 2008 00:00:00 GMT

The General Office of the State Council, or Cabinet, on Sunday unveiled more details of a real-estate stimulus package adopted at an executive meeting of the Council last Wednesday.• Wen calls for healthy development of real estate • Property stimulus plan targets low-income housing...

China loan could boost Brazils economy

Sat, 13 Dec 2008 00:00:00 GMT

The Brazilian economy could soon receive a huge boost after it emerged that China has offered the country a loan to help it fully exploit its lucrative oil reserves.

The $10 billion (£6.75 billion) government loan would allow state-owned oil company Petrobras to take its exploration activities in the pre-salt layer of the South Atlantic Ocean to the next level, according to Associated Press.

Over time this could lead to a boost in the Brazilian economy which would be good news for anyone with property there.

In other Brazilian news, heavy metal legend Iron Maiden will perform five gigs in the country on the final leg of their world tour.

The band's manager, Ron Smallwood, highlighted Sao Paulo's Autdromo De Interlagos - the racing track on which Lewis Hamilton recently secured his Formula 1 title - as a key venue.

"Capacity is about 400,000. I don't think we'll get 400,000." he told CNN.

"We're set for about 60,000 and we hope to go past that."

Other venues include the Apoteose in Rio de Janeiro, Estadio Municipal in Recife and Brasilia Camping in Brasilia.

Visit our off-plan property Brazil page

China tells US to steady economy

Fri, 5 Dec 2008 00:00:00 GMT

China tells the US to stabilise its economy and boost its savings rate in a sign of Beijing increasing economic confidence...

Sustained growth of the window of the Chinese economy

Thu, 4 Dec 2008 00:00:00 GMT

Yong Ying, director attached to the Office of the Trade and the industry of the city of Shenzhen, recently said, ‘I cannot say that the city of Shenzhen is not affected by the world financial crisis, but it should be able in spite of this to display an economic growth of 11.5% this year. ‘The growth...

Unsold housing stockpiles hurts recovery

Thu, 4 Dec 2008 00:00:00 GMT

China’s property developers saw a jump in their inventory of unsold urban housings, the latest official statistics showed, in the newest sign of the sector’s growing troubles. By the end of October, the country had a total of 133 million square meters of idle apartments and houses, a sharp 13% increase from the same period last...

China property recovery insight

Wed, 3 Dec 2008 00:00:00 GMT

Residential developer Shimao Property expects China’s sagging property sector to pick up during Q1 2009 as homebuyers return to the market. The company expects to fulfil its annual sales target thanks to moves by Beijing to stimulate demand. Hui Wingmau, the firm’s chairman, said: ‘The measures will help lead to a healthy and stable development of the...

Severe decline in property sector could plunge Chinese growth to 0%

Tue, 2 Dec 2008 00:00:00 GMT

China is at the heart of the global property slowdown with house prices in Shanghai, Shenzhen and Guangzhou plunging, according to analysts...

Chinese shares up 1.05% after large rate cut

Thu, 27 Nov 2008 00:00:00 GMT

Chinese equities closed 1.05 percent higher on Thursday in response to an unusually large interest rate cut, but they gave up some gains due to profit-taking...

Suzhou Xushuguan Economic Development Zone

Wed, 26 Nov 2008 00:00:00 GMT

Suzhou Xushuguan Economic Development Zone is one of the first four Chinese Industrial parks open to APEC members and one of the first ISO14000-certified industrial estates in China. Suzhou sits in the central area of the Yangtze River Delta and the south of Jiangsu Province. It borders the coastal economic area and the developing Yangtze River...

China's central bank cuts rates

Wed, 26 Nov 2008 00:00:00 GMT

China's central bank cuts the country's interest rates for the fourth time since mid-September in order to stimulate growth...

World Bank cuts China GDP Forecast as Crisis Bites

Tue, 25 Nov 2008 00:00:00 GMT

If you are dumbfounded by the amount of money the federal government is pouring into the private sector to ease the nation's financial crisis, click ahead for a big-budget ride through time...

Manufacturing wind power machines in Urumqi

Mon, 24 Nov 2008 00:00:00 GMT

Urumqi Economic and Technological Development Zone is the home of XJ Gold Wind Science & Technology which is making a 2.5 megawatt wind power generator which is already in the prototype trial-manufacture phase. That is a serious amount of power and could make a major difference if machines of this capacity are deployed nation-wide. The company...

More help likely for ailing Chinese property market

Mon, 24 Nov 2008 00:00:00 GMT

China is likely to roll out more measures before long to stimulate demand for housing, but recovery in the all-important property market is unlikely for another year. Nationwide urban real estate prices rose only 1.6% in the year to October, the weakest rise since Beijing started publishing the data in 2005, and economists expect prices soon...

Communication improvements for Huizhou Daya Bay Economic and Technological Development Zone

Wed, 19 Nov 2008 00:00:00 GMT

Already well supplied with communication Huizhou Daya Bay Economic and Technological Development Zone — approved as a state-level development zone in May 1993 — is now expecting improvements in its logistics connections. The zone now has a developed area of 6.98 square kilometers. It is in the southern part of Huizhou, Guangdong, facing the South Sea, neighboring Shantou...

Asian investors cheer China

Mon, 10 Nov 2008 00:00:00 GMT

HONG KONG - Asian stock markets gained strongly Monday, with Shanghai's index spiking more than 7 percent, as investors cheered China's $586 billion stimulus plan aimed at countering the effects of a...

China's economic growth slows amid world turmoil

Mon, 20 Oct 2008 00:00:00 GMT

The overall rate of economic growth in China has dropped below 10 per cent for the first time in several years...

VanceInfo launches Tianjin campus

Mon, 22 Sep 2008 00:00:00 GMT

VanceInfo, an IT service provider and one of the leading offshore software development companies in China, has opened an operation in the Tianjin Economic-Technological Development Area. VanceInfo Tianjin is intended to be a major training and delivery center for the company. VanceInfo has already trained more than 500 interns and trainees in Tianjin and has acquired...

Asia Pacific property markets see slowdown

Mon, 22 Sep 2008 00:00:00 GMT

Jones Lang LaSalle Head of Research (Asia Pacific) Dr. Jane Murray said in the report Asia Pacific Property Digest Second Quarter 2008, that ‘The Asia Pacific property markets are entering a correction phase that will continue over the next 12 months at least.’ Jane Murray, however, noted that in contrast to previous cycles, the extent of...

Large petrochemical plant opens in Quanzhou

Wed, 10 Sep 2008 00:00:00 GMT

The 12th China International Fair for Investment and Trade was held in Xiamen City. During the Fair, the Quanzhou Export Processing Zone signed an agreement on September 8 with Silan Achievement Chemplex for a large-sized petrochemical plant, which will be one of Fujian Province’s key promotion projects. The plant, which is expected to generate RMB3 billion in...

China's CPI up 4.9%, PPI up 10.1% in August

Wed, 10 Sep 2008 00:00:00 GMT

China's consumer price index (CPI) was up 4.9 percent, and he producer price index (PPI) rose 10.1 percent year on year in August...

Chinese FM: China-India strategic partnership

Tue, 9 Sep 2008 00:00:00 GMT

China-India relationship stands at a new starting point, the two should view and approach relations from a strategic and long-term perspective, said Chinese FM...

Linking China’s Zhejiang to the world

Sun, 7 Sep 2008 00:00:00 GMT

Zhejiang, which boasts of the longest cross-sea bridge in the world, is located in the southern part of the Yangtze River Delta on the southeast coast of China and northeast of Shanghai, Zhejiang is also known for having the longest coastline among the provinces at 6,600 kilometers. Zheijiang has 11 cities — Hangzhou, Ningbo, Wenzhou, Huzhou...

Tourism planning and development in Tibet

Sun, 7 Sep 2008 00:00:00 GMT

Trevor Sofield is the Foundation Professor of Tourism, University of Tasmania, Australia and he has written a long report on the future of tourism in Tibet...

Senior Chinese leader urges development of Heilongjiang

Thu, 4 Sep 2008 00:00:00 GMT

Heilongjiang is part of northeast China (Manchuria), the traditional base of industry for the People’s Republic of China. Industry is focused upon coal, petroleum, lumber, machinery, and food. Due to its location, Heilongjiang is also an important gateway for trade with Russia. Heilongjiang possesses the country’s largest forest zone, with a total area of 18.8 million...

China to boost tourism employment to 100 million by 2015

Tue, 2 Sep 2008 00:00:00 GMT

State media has reported that China’s tourism industry is expected to employ 100 million people by 2015. That means that, if it works out that way, one in every 14 Chinese will work in the sector. The People’s Daily said the government will introduce various policies to help the industry reach the goal, which marks a...

China tightens credit control on property projects

Tue, 2 Sep 2008 00:00:00 GMT

The People’s Bank of China (PBOC) and the China Banking Regulatory Commission (CBRC) are urging rigorous credit management on commercial property projects to curb possible risks that could threaten the banking sector. The policy will have significant impact on property developers as financing will be more difficult. No loan will be given to developers to cover land....

Plan to merge areas in a two-city strategy

Mon, 1 Sep 2008 00:00:00 GMT

The Liaoning provincial government has released a development plan for a two-city integration strategy. The plan involves neighboring cities less than 10 km apart — the provincial capital Shenyang and resource-rich Fushun. Both are known as traditional industrial centers. According to the plan, the two cities will forge closer ties and pool resources in transportation, communication, industrial...

Insurers look to invest in real estate markets

Sun, 31 Aug 2008 00:00:00 GMT

The China Insurance Regulatory Commission has said that China’s insurance companies are soon to be allowed to invest in the domestic real estate sector. Wu Dingfu, Chairman of the China Insurance Regulatory Commission, quoted in the state media, said the draft of the revised insurance law allows insurance companies to invest in ‘bonds, stocks, funds and...

Beijing expects tourism boom

Mon, 25 Aug 2008 00:00:00 GMT

The Beijing Foreign Enterprises Service (FESCO) said in a recent report that Beijing and Shanghai will each need 500,000 trained hotel staff by 2010 to serve the millions of overseas tourists expected to pour into the country for sightseeing and international conferences. It also said that at least 10,000 sports management professionals and 7,000 trainers will...

Chilton Investment chooses Chengdu for office

Sun, 24 Aug 2008 00:00:00 GMT

Stamford-based Chilton Investment has opened offices in Chengdu to serve its major business zone. In March 2006, the Ministry of Information Industry approved the establishment of the National (Chengdu) Electronic Component Park within the Chengdu Economic and Technological Development Zone. It can already boast companies such as Intel, IBM, Nokia, Microsoft and Xerox. Chilton, a manager of...

Zhangjiagang City Yanjiang zone

Thu, 21 Aug 2008 00:00:00 GMT

On the southern bank of the lower reaches of the Yangtze River and more than 50 kilometers long from east to west, 2 kilometers wide from south to north. Think of it as a long thin strip. In the west the zone borders on to Zhangjiagang Free Trade Zone. In the north is Nantong City on the...

Qingdao Economic and Technological Development Zone

Wed, 20 Aug 2008 00:00:00 GMT

This was one of the earliest zones being approved as state-level development zone in October 1984. The zone now has a population of 300,000. It is on the west bank of the Jiaozhou Bay and, to give it its full name, the Qingdao Economic and Technological Development Zone (QETDZ), is about 24 kilometers to the city...

Growth fears dent China shares

Mon, 18 Aug 2008 00:00:00 GMT

China's main share index falls by 5.3% to a 20-month closing low on fears that slowing growth will dent corporate profits...

China real estate report gives mixed signals

Mon, 18 Aug 2008 00:00:00 GMT

China’s real estate market remains an anomaly even though it has charted exemplary growth in the last decade. Shanghai, Beijing, Guangzhou and Shenzhen are among China’s Tier-I cities most sought after by foreign investors, given their high levels of urbanization, mature property markets and extensive supply of quality buildings. In 4Q07, China’s real estate investment witnessed a...

Macau looks beyond China to fuel tourism boom

Sun, 17 Aug 2008 00:00:00 GMT

Helena Fernandes, deputy head of Macau’s tourist office, told a news conference that Macau wants to attract more international visitors to reduce its reliance on Greater China. It hopes to do that partly by moving upmarket. Tourism in Macau has been affected by a massive expansion of its gambling industry. Revenues in Macau’s $15 billion gaming industry...

Weath Watch - China's economy is a growth story of Olympian proportions

Sun, 17 Aug 2008 00:00:00 GMT

ZHONGWO Chai – yo!… resounds across all the Olympic arenas. It means "Go China." At the time of writing, China is leading in the gold medal stakes and has just...

China investment beats forecasts

Fri, 15 Aug 2008 00:00:00 GMT

China's capital investment has risen more than expected in the first half of 2008, official figures show...

A complete run-down on zones

Thu, 14 Aug 2008 00:00:00 GMT

One of the best summaries of zones and how they work in China is offered by the US Embassy. It takes this history of the zones from the early 1980s and in an impartial and unbiased way gives a complete run down of what they are and how to distinguish between them. It is of the...

Blackstone launches Beijing office

Thu, 14 Aug 2008 00:00:00 GMT

US private equity fund Blackstone Group has opened an office in Beijing to further tap into the fast-growing Chinese market. Fu Shan, former vice president of Beijing Mainstreets Investment Group, a Shenzhen-listed real estate investment firm, has been appointed as the office’s chief representative. Fu was also a former official with China’s National Development and Reform Commission...

Cathay Pacific’s first half reflects problems of the air industry

Wed, 13 Aug 2008 00:00:00 GMT

Cathay Pacific’s interim result does not make for encouraging reading. Operating profit margin dropped into negative territory in the first half of 2008, compared to a double-digit margin in the full year of 2007. Cathay’s earnings report stated the big change in the company’s financial performance ‘was entirely due to the relentless rise in the cost...

Pilot tourism scheme to benefit Hong Kong

Tue, 12 Aug 2008 00:00:00 GMT

A pilot scheme for Mainland-authorized Hong Kong travel enterprises to organize group tours to Hong Kong for non-Guangdong residents in Shenzhen — these are currently allowed — will bring extra Mainland tourists to Hong Kong and contribute to the Hong Kong economy. The Tourism Commission said the scheme is part of the Central Government’s policy. And...