Prices for new homes in China fell in more than half of major cities last month from April, official data showed yesterday, as the Chinese government vows to maintain controls over the property market.
Out of 70 cities tracked by Chinese authorities, 43 registered sequential falls in home prices last month, the same number as in April, China’s National Bureau of Statistics said in a statement.
China has implemented several measures aimed at limiting runaway property prices for more than a year, including bans on buying second homes, hiking minimum down payments and introducing property taxes in certain cities.
Photo: Reuters
However, the cities that recorded rises in home prices doubled to six, including Tianjin and Dalian in the north of the country, suggesting prices have started to rebound despite controls, analysts said.
Prices were unchanged in 21 cities, the bureau added.
Beijing has been encouraging banks to lend to first-time home buyers while at the same time seeking to clamp down on speculative demand.
China cut interest rates on June 8, which analysts believe could bring new life to the market.
“The government insists that its policy controls remain in place, but they do seem to be fraying at the edges,” Capital Economics said in a research report last week.
“But neither property prices nor real estate investment are likely to experience a sharp rebound,” it added. “Prices are likely to remain subdued.”
One Chinese analyst said a slowdown in property investment had limited supply, causing prices to edge higher.
“In general, home prices will maintain a trend of stable increases in future,” Shanghai-based Shenyin Wanguo Securities (申銀萬國證券) economist Li Huiyong (李慧勇) said.
Most Shanghai-listed property developers gained in morning trade yesterday, wsaith Guangzhou Donghua Enterprise jumping 3.85 percent to 6.48 yuan and Beijing Vantone Real Estate (萬通集團) rising 1.5 percent to 4.05 yuan.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
RSS