Used Apartment Prices Rising in Shanghai
Shanghai's second-hand housing index rose in September for the
eighteenth consecutive month, as a limited supply of new residences
pushes up sale prices for the city's used apartments. The monthly
index, released by ehomeday.com, jumped 4.09 per cent. As reported
previously by BizChinaUpdate, the local supply of new residential
properties dropped to below six million square metres earlier this
month, the lowest since the second half of 2005.
End in Sight for the "China Price"?
The "made in China" label is synonymous worldwide for low-cost, but
this may be changing according state media which reports that the 101st
session of the China Import & Export Fair in Guangzhou saw many
commodity prices rise by 10 to 20 per cent from one year ago. The
rising costs are blamed on the appreciation of the RMB and the rising
price of labour and raw material prices. Despite the price hikes, the
fair hit a new record in terms of export sales, totalling USD36.39 bn,
up 6.8 per cent on the 2006 show.
Countdown on for China Lunar Satellite Launch
China's first lunar satellite is set to blast off next week from the
Xichang Satellite Launch Center in Sichuan Province. Weather
forecasters predict that between 22-25 October would be the best period
for the launch. The Chang'e satellite, named after the legendary
Chinese goddess who flew to the moon, will orbit the Earth five to
seven times before heading to the moon within 12 days.
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