Mainland Real-Estate Spending Skyrockets – Winny Wang
From Shanghai Daily:
Investment in the real-estate market on China’s mainland jumped 31.4 percent in the first 10 months of this year from 2006 to a mind-blowing 1.92 trillion yuan (US$259 billion), the National Bureau of Statistics reported yesterday.
About 1.37 trillion yuan was invested in residential property, rising 33.7 percent from the same period last year. Of this 61.8 billion yuan was pumped into budget homes, up 32.2 percent, the bureau said….[Full Text]