China’s Ministry of Industry and Information Technology on Friday suspended a steel industry upgrade programme amid slowing demand.
PROPERTY
‘Disappointing’: China’s US$42 billion plan to buy up unsold homes rolls out slowly
Only about five cities have made purchases so far, according to a China Real Estate Information Corporation (CRIC) report …
China to ‘vigorously, orderly’ expand sales of finished homes in property-sector overhaul
A successful trial in Zhengzhou will be expanded nationwide to give developers and projects ample funding, and to compensate homebuyers if developers go under.
China’s property market harbors great growth potential: ministry
Speaking at a press conference on Friday, Ni Hong, minister of housing and urban-rural development, said that China will focus on the task of providing the public with good housing, while revamping …
China’s real estate woes weigh down S-Reits, but retail sector could be bright spot
SINGAPORE-LISTED real estate investment trusts (S-Reits) with exposure to China will continue to see downward pressure on their valuations in the coming quarters amid the ongoing slump in China’s …
China’s Kaisa Group flags US$1.2 billion first-half loss amid home sales slump, write-down
The developer’s weak report card is likely to resemble those of most mainland Chinese developers, which are expected to extend a losing streak dating to 2020.
Vanke Girds for First Semi-Annual Loss in Over 30 Years, Reflecting China’s Broader Property Sector Woes
Vanke is bracing for losses of between CNY7 billion (USD981.1 million) and CNY9 billion in the first six months due to the shrinking scale of real estate development, a narrowing gross margin as well …
China Sino-Ocean’s offshore debt revamp plan gets 30% creditor support, sources say
A $5.64 billion offshore debt restructuring plan by China state-backed property developer Sino-Ocean Group’s has only got support from less than 30% of creditors, two sources with direct knowledge of …
China bans risky trusts from selling wealth products for LGFVs
CHINA told some trust companies to stop raising money from individuals to fund local government financing vehicles, according to people familiar with the matter, in its latest effort to curb growing financial risks.
China’s Real Estate Sector in Decline
This chart shows the operating profit and number of finished apartments of real estate developers in China (in billion Chinese Yuan).
Black Myth: Wukong – A Cultural Game Changer from China
Wukong’, a video game adaptation of the Ming dynasty epic ‘Journey to the West’, to promote Chinese culture globally. The game, featuring the mythological monkey king Sun Wukong, garnered huge popularity and is expected to…
Outlook darkens for China’s already weak steel output
China’s steel output slumped in July and is likely to continue to fall in coming months as mills struggle for profits amid sluggish demand and look to comply with government guidance that ensures annual production…
Check out China’s ‘Orange County’
About the community: China’s Orange County, developed by Beijing real estate mogul Zhang Bo in collaboration with Newport Beach architects and Orange County designers, is a gated community that mirrors Southern California’s suburban lifestyle.
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