China to nurture over 4,000 SMEs as digital transformation models (Xinhua)
2022-08-17
U.S.-listed Chinese firms trade mostly lower (Xinhua)
2022-08-17
More Chinese state-owned companies expected to delist from US stock exchanges as accounting spat continues (SCMP)
2022-08-16
China Tourism Group unit to offer over 100m shares in HK listing (China Daily)
2022-08-15
China cuts key policy interest rate for first time since January as major economic growth indicators slow (SCMP)
2022-08-16
China’s Housing Market Weakens Further Amid Shaken Confidence (Caixin)
2022-08-15
China’s housing prices weakened further in July after briefly showing signs in June of stabilizing, underscoring shaky market confidence amid a spiraling real estate crisis. More Chinese cities booked home price declines in July after a mortgage boycott spread across the country by thousands of angry homebuyers protesting unfinished properties on which they were making loan payments. Among 70 major cities, 40 registered price drops in newly built homes in July, two more than in the previous month. Prices of pre-owned housing units declined in 51 cities, three more than in June, the National Bureau of Statistics reported Monday. The figures suggested that the country’s housing market is further losing steam after the short respite in June, when more cities reversed price declines from the previous month and more homes were sold. Chen Xiao, a senior analyst with Zhuge Real Estate Data Research Center, said the weakening market mainly reflected the effects on market confidence of the widening mortgage strike. Since mid-July, people who bought homes in more than 300 housing developments in at least 80 cities, mostly in central China’s Zhengzhou, stopped making mortgage payments as construction of the projects remained stalled. The average price of new homes in the 70 cities declined 0.11% from June, when they sank 0.1%, NBS data showed. Pre-owned housing prices fell 0.21%, the same as a month earlier. Prices of new homes in the four biggest cities — Beijing, Shanghai, Guangzhou and Shenzhen — increased 0.3% from a month earlier, compared with a 0.5% gain in June. New home prices in smaller, second-tier cities were flat while they fell 0.3% in smaller cities. The weakening confidence has further dampened the real estate market despite a flurry of measures by central and local governments to arrest the downturn. As of the end of July, Chinese authorities at all levels made 580 policy moves to roll back previous property controls and stimulate the market, 70% more than a year ago, according to Centaline Property Agency Ltd.
China’s semiconductor output shrank 17 per cent in July as supply chains remained under pressure from strict Covid-19 policies (SCMP)
2022-08-15
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