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Update Alerts

Beijing land king defies criticism, falling sales

10 July 2012

Real estate transactions in 18 first- and second-tier cities tracked by China Confidential declined by an average of 25% WoW in the week ended July 8, while home sales in 21 third- and fourth-tier cities fell 28% WoW. This transaction decline followed strong transaction and price growth in June, and there was no immediate explanation for the WoW reversal. However, WoW fluctuations in real-estate transactions are not uncommon, while a record land auction in Beijing on July 10 suggests that developers remain confident that the recent upturn in transactions is likely to last.

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Renminbi Compass, a new research service launched by the FT, aims to act as a navigational guide through the expanding universe of renminbi asset classes. With the Chinese currency gaining ever-wider acceptance around the world and Beijing taking steps to open its capital account, we are broadening our research coverage to include not only equity funds but also all other important renminbi asset classes, such as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art, antiques and several others.