Diamonds set to sparkle
February 20th, 2012Rising demand will make China major importer of gemstones BEIJING – Diamonds are expected to sparkle brighter in China amid a surge in domestic consumption and investment. Antwerp, the world’s biggest hub for diamond trading, will see China overtake the United States to become the Belgian city’s biggest destination for diamonds exports by 2016, according [...]
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US simplifies visa applications for Chinese
February 20th, 2012BEIJING – Starting from next Monday, qualified non-immigrant Chinese applicants to the United States can renew their visas without undergoing another interview if their visas expired less than 48 months ago, under a pilot program announced on Thursday by US Ambassador Gary Locke. The new initiative includes B (temporary visitors for business and pleasure), [...]
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China’s C919 plane gets 20 new orders
December 13th, 2011The China Aircraft Leasing Company Limited (CALC) inked a deal to buy 20 home-made C919 passenger jetliners, the plane’s manufacturer COMAC said on its official website Thursday evening. This agreement, signed in Hong Kong, brought the total orders of C919s to 215 and displayed “the market and customer’s confidence” to the airplane, according to Commercial [...]
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Qantas: Talks on Asia-based airline continue
December 13th, 2011SYDNEY – Australia’s Qantas Airways said on Monday that talks on establishing a premium airline in Asia were continuing amid competitive challenges facing the company in the years ahead. Qantas Chief Executive Alan Joyce told an investor briefing in Sydney on Monday that Qantas would see further competitive pressures from Middle Eastern and Chinese carriers [...]
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C919 passenger jet starts development phase
December 13th, 2011SHANGHAI – China’s homegrown C919 large passenger plane has finished its preliminary development review and entered the development phase, a senior executive of Commercial Aircraft Corporation of China Ltd (COMAC) in Shanghai said Friday. An expert team of the C919 project has approved the overall preliminary development review (PDR) of the passenger jet, said Jin [...]
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Property Prices Collapse in China. Is This a Crash?
November 23rd, 2011Residential property prices are in freefall in China as developers race to meet revenue targets for the year in a quickly deteriorating market. The country’s largest builders began discounting homes in Shanghai, Beijing, and Shenzhen in recent weeks, and the trend has now spread to second- and third-tier cities such as Hangzhou, Hefei, and Chongqing. [...]
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Over half of luxury consumption occurs overseas
November 23rd, 2011SHANGHAI – More than 50 percent of luxury purchases by Chinese consumers take place overseas, of which half take place in duty-free shops, according to a report issued on Monday. The 2011 China Luxury Report was jointly released by the Research Center for Luxury Goods and Services at Beijing’s University of International Business and Economics [...]
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Chinese tourists flock to Europe’s capital of music By Tan Zongyang and Guo Anfei (China Daily)
October 31st, 2011Posted in Travelling | Comments Off
Falling housing loans add to home builders’ woes
October 31st, 2011BEIJING – New property-related loans continued to shrink in China in the third quarter of this year, adding to realty companies’ capital strains, according to data from the People’s Bank of China (PBOC). New property-related loans, which include loans to property developers and mortgage loans to home buyers, totaled 992.3 billion yuan ($156.78 billion) between [...]
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Land prices in Chinese cities fall in August
September 5th, 2011BEIJING – Land prices and transaction volumes both declined on a monthly basis in Chinese cities amid a sluggish market last month, a research institute said Sunday. The China Index Academy (CIA), a Beijing-based company that studies China’s property market, said in a report that the average floor price for residential land in 133 Chinese [...]
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