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Top related persons:
Zhu Ning - 1 Tao Ling - 1 Xiao Yuanqi - 1 Larry Hu - 1 Dong Jianguo - 1 Lifeng - 1 Zhu - 1 Nomura - 1
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China Huai'an BEIJING Hong Kong Asia Pacific U.S Wanxiang City
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CNBC - 3 Nurphoto - 2 Getty - 2 People's Bank of China - 2 Future Publishing - 2 China - 1 Tsinghua University - 1 National Financial Regulatory - 1

Search resuls for: "Huai'an"


6 mentions found


☆ China pledges $42 billion in a slew of measures to support the struggling property sector
  + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
China announced "historic" steps to stabilize the crisis-hit property sector on May 17, 2024, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. These and other measures announced Friday marked Beijing's latest efforts to address issues in the massive real estate sector. The real estate companies can then use funds earned from those sales to complete construction on other apartments, the central bank said. Pre-sold, unfinished homesFor years, many apartments in China tended to be sold before construction was finished. Nomura estimated last year there were around 20 million such pre-sold, unfinished apartments in China.
Persons: Zhu Ning, Tao Ling, Xiao Yuanqi, Larry Hu, Dong Jianguo, Lifeng, Zhu, Nomura Organizations: China, Nurphoto, Getty, Tsinghua University, People's Bank of China, National Financial Regulatory, Macquarie, CNBC, of Housing, Housing, Future Publishing Locations: BEIJING, Wanxiang City, Huai'an City, East China's Jiangsu, China
☆ China retail sales, investment data miss expectations in April
  + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +2 min
BEIJING — China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust. Retail sales rose by 2.3% in April from a year ago, the National Bureau of Statistics said. That was less than the 3.8% increase forecast by a Reuters poll, and slower than the 3.1% pace reported in March. But fixed asset investment rose by 4.2% for the first four months of the year, lower than the 4.6% expected increase. Statistics bureau spokeswoman Liu Aihua pointed out that last year, the multi-day May 1 Labor Day holiday had included two days in April.
Persons: Liu Aihua, Liu Organizations: National Bureau of Statistics, China's Ministry of Commerce, Labor, Statistics, Oxford Locations: Huai'an, China, BEIJING — China
☆ IMF expects new housing demand in China to drop by around 50% in the next decade
  + stars: | 2024-02-02 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
Nurphoto | Nurphoto | Getty ImagesBEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country's overall growth. China's real estate sector and related industries have accounted for about a quarter of the country's gross domestic product. Zhang said China's housing demand would remain large, and policy support would gradually kick in. "Therefore, a significant decline in housing demand is very unlikely to happen," he said. The IMF report compared housing demand and new starts from the 2012 to 2021 period with estimates for 2024 to 2033.
Persons: Zhengxin Zhang, Zhang, Evergrande, Sonali Jain, Chandra, Nir Klein Organizations: Nurphoto, Getty, International Monetary Fund's, IMF, U.S ., People's Bank of China Locations: Huai'an, China, BEIJING, Beijing, Evergrande, Hong Kong, Asia, Pacific
☆ Copper could skyrocket over 75% to record highs by 2025 — brace for deficits, analysts say
  + stars: | 2024-01-03 | by ( Lee Ying Shan | ) www.cnbc.com   time to read: +2 min
Copper prices are set to soar more than 75% over the next two years amid mining supply disruptions and higher demand for the metal, fueled by the push for renewable energy. In a December report, the investment bank forecast that the higher renewable energy targets would boost copper demand by extra 4.2 million tons by 2030. This would potentially push copper prices to $15,000 a ton in 2025, the report added, way higher than the record peak of $10,730 per ton scaled in March last year. "This assumes a very soft landing in the U.S. and Europe, an earlier global growth recovery, significant China easing," Citi analysts said, while also emphasizing on continued investments in the energy transition sector. A growing economy tends to boost demand for copper, which is used in electrical equipment and industrial machinery.
Persons: Matty Zhao Organizations: U.S, BMI, Fitch Solutions, U.S . Federal Reserve, Bank of America Securities, CNBC, Citibank, Citi Locations: Huai'an, Jiangsu Province, China, Asia, Pacific, U.S, Europe
☆ China's property giant Evergrande files for bankruptcy protection in Manhattan court
  + stars: | 2023-08-18 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +1 min
Future Publishing | Future Publishing | Getty ImagesChina's heavily indebted property developer Evergrande group on Thursday filed for Chapter 15 bankruptcy protection in a U.S. court. In a filing to the Manhattan bankruptcy court, the firm sought recognition of restructuring talks under way in Hong Kong, the Cayman Islands and the British Virgin Islands. The Chapter 15 bankruptcy protection allows a U.S. bankruptcy court to intervene in cross-border insolvency case involving foreign companies that are undergoing restructuring from creditors. Tianji Holdings, an affiliate of Evergrande, and its subsidiary Scenery Journey, also filed for Chapter 15 protection in a Manhattan bankruptcy court, according to the filing. The firm has also suspended trading in at least 10 of its mainland-China traded yuan bonds, according to Reuters.
Organizations: Future Publishing, British Virgin Islands, CNBC, Tianji Holdings, Evergrande, ., Reuters Locations: Huai'an, Jiangsu, China, U.S, Manhattan, Hong Kong, Cayman Islands, British Virgin
☆ Housing might be struggling in China but there are green shoots in commercial property
  + stars: | 2022-09-13 | by ( Su-Lin Tan | ) www.cnbc.com   time to read: +7 min
Commercial property is a bright spot in Chinese real estate, in contrast with the doom and gloom of the residential housing market. Likewise, property group CIFI Holdings posted a 23% year-on-year drop in home sales in China for the first half, but reported a 69.5% lift in its property investment revenue. While some investors sold assets to stay liquid, Spiro said the commercial sector generally has more supportive government and fiscal policies. All in all, the Chinese commercial property sector's resilience lies in its ability to rebound faster than its residential counterpart. Down but not outBut unlike housing, the commercial sector is rebounding particularly after lockdowns ended and government incentives kicked in, CBRE said.
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