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BEIJING, August 5 -- Property sales across 30 cities in China fell 4 percent in July as prices soared and supplies dwindled with big cities feeling the pinch for the first time this year, analysts said. According to the UWIN property transaction system, the floor space of apartments sold in July dipped 5.37 percent over June to 1.04 million sq m. Statistics put out by the Beijing Real Estate Transaction website showed that sales of forward delivery housing in Beijing fell to 10,862 units last month, compared to 12,840 units in June. Property transactions in Guangzhou fell 36 percent over June. The figure is only half of that of May, said Guangzhou's official property website. "The fall has been triggered by high property prices and shrinking supplies in some cities," said Qin Xiaomei, head of research, Jones Lang LaSalle Beijing. "Property developers have slowed down the pace of new projects in the second half after robust sales in the first half," she said. Property prices in China's 70 major cities were up 0.8 percent in June, the fourth month-on-month growth in a row this year, according to statistics from the National Development and Reform Commission. Beijing and Shanghai reported a month-on-month growth of 0.4 and 1 percentage points respectively in June, with prices skyrocketing to record highs of 2007 in some areas, fueled by strong investment, purchase demand and higher land prices. The high prices have also made most of the prospective buyers wary of making fresh investments. Li Wei, a 29-year-old company executive in Beijing, said he would prefer to adopt a wait-and-see attitude as the high prices have made most of his preferred apartments unaffordable. "The unit price of the apartment has soared to 20,000 yuan per sq m from 14,500 yuan per sq m 40 days ago," Li said. For others like Zhang Li, a property speculator from Wenzhou, Zhejiang province, this is the time to cash in. The apartment she bought in November last year has gained 40 percent in the past six months, largely exceeding her expectations. "I am a bit uneasy with such a rapid increase in such a short period of time," said Zhang, who has property investment experience of more than a decade. "With people's income and economic fundamentals seeing no big change, I think selling the property will be a safer bet." According to Grant Ji, director of Savills (Beijing), a UK-based real estate service provider, the fall in transaction volume is still within a normal band. "July was an off-season for the housing market," said Ji. "With no big shift likely in the macroeconomic policy during the second half, property prices are unlikely see a big fall as the market is still awash with funds," Ji said.

JINAN, East China, Oct. 16 (Xinhua) -- Chinese President Hu Jintao met International Olympic Committee President Jacques Rogge who was invited to attend the 11th Chinese National Games on Friday. Hu Jintao extended welcome to Rogge and offered his congratulation on Rogge's re-election as IOC President. Chinese President Hu Jintao (R) meets with International Olympic Committee (IOC) President Jacques Rogge, who is here for the 11th Chinese National Games, in Jinan, east China's Shandong Province, on Oct. 16, 2009Hu said that the support from IOC and the efforts from all members of international Olympic family made the Beijing Olympic Games and the Paralympic Games complete success, which promoted the Olympic spirit and further development of international Olympic movement. Hu added that the success of the Olympic Games and the Paralympic Games deepened the exchange and cooperation between China and the international Olympic family. He expressed gratitude to Rogge for making important contributions to the success of the Games and said that China would like to share its experience with London and Rio de Janeiro so as to make new contribution to the international Olympic movement. Rogge, who is on his third visit to attend Chinese National Games, said the National Games manifested the great energy of Chinese sports. He added that Beijing Olympic Games last summer has left unique legacy in sports, environment and development to the world and the IOC chief also expressed his thanks to China for the support to London and Rio de Janeiro, host cities of 2012 and 2016 Olympic Games.
XI'NING, Aug. 25 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for more efforts to promote development of the country's western regions during a visit to northwest China's Qinghai Province. More efforts should be made to tap the advantages of local industries and adjust the economic structure, Li said during a visit that started Sunday and included factory workshops, farms and rural households. In Qinghai Arura (Jinhe) Tibetan Medicine Company Limited, Li saw the company's efforts to process local agricultural products. Chinese Vice Premier Li Keqiang (R) talks with villagers of Hongju Village, Huzhu Tu Autonomous County, northwest China's Qinghai Province, Aug. 24, 2009. Li Keqiang inspected Qinghai Province from Aug. 23 to Aug. 25 He visted Yiwa Ethnic Clothes Manufacturing Plant and Xining Special Steel Company Limited and urged them to improve technologies and meet market demand. "The western regions have huge market demand and growth potential. It is important to carry on the policy to develop western regions and support ethnic regions to promote regional economic and social development," Li said. Chinese Vice Premier Li Keqiang (C) visits villagers of Xiaozhuang Village, Huzhu Tu Autonomous County, northwest China's Qinghai Province, Aug. 24, 2009At Qinghai Salt Lake Industry Group Company Limited, Li said technological innovation was needed to tap resources in western regions as well as infrastructure construction and environmental protection. Li urged local governments in Haidong, eastern Qinghai, to fully implement the country's policies to promote agricultural growth in ethnic and rural regions and increase peasants' income. Li talked with villagers of different ethnic groups in a village in Haidong and urged local officials to help improve living standards and care for the disadvantaged.
NANJING, Aug. 30 (Xinhua) -- China's chief justice Sunday urged the people's courts all over the country to attach great importance to the trial of major and serious criminal cases and timely handle them in strict accordance with the law. Wang Shengjun, president of the Supreme People's Court, made the remark while attending a national workshop on hearing major and serious criminal cases held in Nanjing, capital of east China's Jiangsu Province. Wang urged courts at various levels to be fully prepared for handling major and serious criminal cases, which is a heavy task at present and will be so in a certain period of time in the future. Courts at all levels shall timely investigate and conclude major and serious criminal cases in accordance with the law to serve goals of safeguarding national security and social stability, Wang said.
来源:资阳报