Subscribe free to our newsletters via your
. Earth Science News .




POLITICAL ECONOMY
China home price rises speed up in November: survey
by Staff Writers
Beijing (AFP) Dec 01, 2013


Chinese home prices rose faster in November than in the previous month, an independent survey showed on Sunday, adding that authorities are likely to introduce further changes to control the lively real estate market.

The average price of a new home in 100 major cities rose 10.99 percent year-on-year to 10,758 yuan ($1,766) per square metre, said the China Index Academy, which compiled the survey.

That was higher than the rises of 10.69 percent in October, 9.48 percent in September and 8.61 percent in August, said the academy, which is the research unit of the real estate website operator Soufun.

High property prices have generated discontent among ordinary Chinese, and Beijing has sought for more than three years to contain their rise, while also promising to provide affordable housing.

President Xi Jinping called a month ago for improved efforts to increase home supply and for more attention on public housing projects, state media reported at the time.

A document pledging a series of reforms, issued after the Third Plenum meeting of Communist Party leaders in mid-November, hinted that a property tax might be expanded beyond its current two cities of Shanghai and Chongqing but did not give a timetable.

"After the Third Plenum, the central committee (of the ruling Communist Party) will set up and improve long-term mechanisms regarding land, taxation, property registration and other aspects," the academy said.

Earlier measures to try to control prices have included restrictions on buying second and third homes, higher minimum downpayments and taxes in some cities on ownership of multiple homes.

China manufacturing index steady at 19-month high: govt
Beijing (AFP) Dec 01, 2013 - China's manufacturing growth in November maintained its strong pace from the previous month to stay at a 19-month high, official figures showed on Sunday.

The purchasing managers' index (PMI) was at 51.4, unchanged from October, the National Bureau of Statistics said on its website.

It was up from 51.1 in September and the highest since reaching 53.3 in April 2012.

A reading above 50 signals expansion while a figure below indicates contraction.

The figure was a further indication that the world's second-largest economy is gradually emerging from a growth slowdown at the start of the year, although analysts have warned that weaknesses remain.

Official data in October showed that China's economy, an important driver of regional and global growth, expanded 7.8 percent from July to September, snapping two quarters of slowing.

Analysts said the jump resulted largely from a government stimulus since late June that included increased rail and urban fixed-asset investment, tax cuts and looser monetary policy.

The official PMI has risen steadily from 50.1 since June of this year.

Meanwhile the preliminary PMI reading for November from HSBC, another closely watched figure, slipped to 50.4 after a seven-month rise.

It was the second-highest reading from the British banking giant since March, down from 50.9 in October.

HSBC economist Qu Hongbin in Hong Kong attributed the drop to "weak new export orders" and the "slowing pace of restocking activities".

The bank's final PMI reading for the month is scheduled to be released on Tuesday.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
China property firms deny tax-shirking report
Shanghai (AFP) Nov 26, 2013
Several Chinese property developers on Tuesday denied a state media report accusing them of failing to pay land taxes, saying it was a "misunderstanding". State television reported in a weekly consumer programme Sunday that domestic property firms owed 3.8 trillion yuan ($623 billion) in land taxes from 2005 to 2012, citing a lawyer's calculations. China Central Television (CCTV) did not ... read more


POLITICAL ECONOMY
UN to seek more aid for Philippines typhoon displaced

Typhoons spread Fukushima fallout, study warns

85 people injured in Hong Kong high-speed ferry accident

Philippines says Super Typhoon Haiyan, other storms curb growth

POLITICAL ECONOMY
Use of ancient lead in modern physics experiments ignites debate

Crippled space telescope given second life, new mission

Scientists create perfect solution to iron out kinks in surfaces

What might recyclable satellites look like?

POLITICAL ECONOMY
Showdown looms for lucrative tuna industry

Water decontamination system in trouble at Japan's Fukushima

Arctic seafloor methane releases double previous estimates

Sea level rise could exceed one meter in this century

POLITICAL ECONOMY
'Noisy' glaciers sound off as they melt into ocean waters

Russian court frees last Greenpeace activist

Greenland's shrunken ice sheet: We've been here before

IceBridge at McMurdo: A Year and a Half of Planning

POLITICAL ECONOMY
Romania sees opportunity in China's new taste for meat

Flower Power - Researchers breed new varieties of chamomile

A plant which acclimatizes with no exterior influence

Archaeologists discover largest, oldest wine cellar in Near East

POLITICAL ECONOMY
Heavy rains, flooding leave two dead in Cuba

Weaker than expected Atlantic hurricane season ends

Philippine typhoon survivors flee false tsunami alert

Somalis struggle after devastating cyclone: aid agencies

POLITICAL ECONOMY
Mali defence minister vows to support coup leader's trial

French army buildup in CAR unlikely to quell bloodshed

Several said dead in air raid in Sudan's Darfur: peacekeepers

Nigeria military says bombed Boko Haram camps

POLITICAL ECONOMY
Skull find shows women were sacrificed in ancient China

Study suggests inbreeding shaped course of early human evolution

Investments in Aging Biology Research will Pay Longevity Dividend

Research team discovers 'immune gene' in Neanderthals




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement