The average price of second-hand properties sold rose to 40,133 yuan per sq m by the end of March, a 1.1 percent growth month on month which marked the highest price in history, reported 21st Century Business Herald Friday.Beijing Municipal Bureau of Land and Resources posted three plots of land on its website on Thursday, two of which are residential, located in Changping district. It is clearly noted in the post that aside from the area for building affordable housing, houses built on the rest of the land with an area of less than 90 sq m must account for more than 70 percent.The move is see...
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2016
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Tesla founder and chief executive Elon Musk says pre-orders of the firm’s much-anticipated Model 3 electric car currently total 276,000.The California-based firm unveiled the five-seater car - its lowest-cost vehicle to date - on Thursday.Mr Musk tweeted the total reflected the orders received by the end of Saturday.Pre-orders of the Model 3 will not necessarily all translate into actual sales when the car is released, with first deliveries in late 2017.It can be ordered in advance in dozens of countries, including the UK, Republic of Ireland, Brazil, India, China and New Zealand.Potential car...
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2016
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China’s Midea Group will buy a little more than 80 percent of loss-making Japanese conglomerate Toshiba’s home appliances arm for 473 million dollars, the two companies said.Toshiba, which makes everything from rice cookers to nuclear plants, will retain the remaining 19.9 percent of Toshiba Lifestyle Products & Services Corporation (TLSC), which will retain its name, the two said in a joint statement.Under the deal, Midea will be licensed to use Toshiba brands for home appliances for 40 years, obtain more than 5,000 intellectual property assets, and be authorised to use other related pate...
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2016
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Chongqing, and the coastal city of Zhoushan, in Zhejiang province, are being tipped by shipping experts as hot favorites to be chosen as new free trade zones for the third round selection, as the central government devotes more resources to developing the Yangtze River Economic Belt within its 13th Five-Year Plan (2016-20).Eager to enhance the earning ability of inland regions, China has been keen to support the growth of city clusters in the Yangtze River Economic Belt, which comprises the Yangtze River Delta, the middle reaches of the Yangtze and Chengdu-Chongqing region, as well as encourag...
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2016
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She said global risks were not expected to have a deep impact on the US, but caution was still appropriate.Global developments and risks had led policymakers to project a slower path of rate rises than initially expected in December, Ms Yellen said.US markets rose during her speech at the Economic Club of New York.Her tone was similar to the Fed’s statement in mid-March, when the central bank made no change to rates and guided expectations towards a slower pace of increases after December’s increase.Ms Yellen repeated her message from earlier pubic speeches that volatile oil prices and China’s...
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2016
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