Four months after the State Council, China’s cabinet, unveiled a nine-point document aimed at restoring investors’ confidence and attracting long-term funds, the market is back in a downward spiral after a relief rally. There are telltale signs of investors shunning stocks: turnover on the Shanghai and Shenzhen exchanges has plunged to a four-year low, the
China is closely monitoring the use of virtual assets in money laundering activities, according to the country’s highest court, in a move that legal experts say could increase the risk of prosecution for trading cryptocurrency on the mainland. Using virtual assets to transfer or convert criminal proceeds is among a range of money laundering methods
Luxury homes in Shanghai are defying the downtrend in China’s mass market segment as wealthy buyers, relatively unscathed by the multi-year industry slump, upgrade to newly built units in prime locations, according to analysts. Most high-net-worth individuals believe the land scarcity and long-term economic growth potential of the mainland’s commercial and financial hub will continue
Beijing, China’s capital, has finally joined other major Chinese cities in relaxing home buying restrictions to bolster the property market. The Beijing Municipal Commission of Housing and Urban Development said on Wednesday that it was lowering the down payment ratio for first-time homebuyers to 20 per cent from at least 30 per cent previously. For
China’s central bank has backed the government’s plans to use public resources to absorb the nation’s unsold homes as it moves to remove an inventory overhang in the world’s largest property market, which a data provider said could take as long as 18 months to work through. People’s Bank of China (PBOC) on Wednesday held
Shenzhen, China’s technology hub, said it has lowered the thresholds for the personal income tax and social insurance payments of non-local individuals and families seeking to buy a property in certain districts, while allowing local families with two or more young children to buy additional homes in those areas. The city lowered its down-payment requirements