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Over 3,121 houses have collapsed due to the downpours, which fell on 44 counties of 13 cites in Guangxi. And direct economic losses are estimated to stand at about 389 million yuan (61.15million U.S. dollars).
Real estate stocks also rose. Shanghai Xinmei climbed by 6.58 percent to finish at 6.48 yuan per share, and Tianjin Songjiang Co. gained 5.46 percent to finish at 3.67 yuan per share.
Wang noted that China had only 93,000 km of railways by the end of 2011. "The railway mileage per capita is shorter than the length of a cigarette."
China cautiously used monetary easing in recent years.
For non-registered permanent residents to qualify as a legitimate home buyer in Shanghai, one needs to provide certification of paying individual income taxes or social insurance premiums there for an aggregated period of at least one year within the past two years.
来源：资阳报