China's property sector slows as uncertainty, credit curbs bite

Property investment has slowed in China since mid-year, both in value and land area, amid tighter credit and buyers' uncertainty, official statistics released on Monday show. The National Bureau of Statistics (NBS) said that between January and July, investment in real estate development totaled 1.588 trillion yuan (231.55 billion U.S. dollars), up 30.9 percent year-on-year. However, the rate of increase was 2.6 percentage points less than the first-half level. Spending on reside ...
Publication date: 2008-08-18

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Economy won't be hurt after Olympics

China will not suffer from a "post-Olympic recession", senior officials said yesterday, because of the scale and potential of its economy. "The Olympic Games won't be a watershed for China's economic growth," Wang Yiming, vice-president of the Academy of Macroeconomic Research, said. The academy is affiliated to the National Development and Reform Commission, the country's top planning body. "The fundamentals propelling the country's economic development over the past 30 years will remain" ...
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Summer sojourn aids China-Hungary ties

They sought solace in the comfortable summer of Hungary, looking for ways to escape the devastation of the Sichuan quake in May. The 50 Chinese children recovering in their temporary Eastern European home is also a reflection of the true partnership between the two countries, Hungarian Prime Minister Ferenc Gyurcsany told China Daily in Beijing yesterday. It is a partnership that involves the sharing of weal and woe, said Gyurcsany, who is in the capital for the Olympics. "Somehow, this ...
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Orphans share in spirit of Olympics

Ukrainian sports legend Sergey Bubka has passed on the true spirit of the Games to children of Beijing-based orphanage home Sun Village. The greatest pole-vaulter in history visited 130 orphan children at their home in the capital's Shunyi district yesterday. "I just want to tell them China's sports are strong and maybe one of them will become a champion one day," he said. On the playground, Bubka and Sun Village founder Zhang Shuqin took turns passing torches to the children. "We ju ...
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