and Bank of Communications — most lenders in Shanghai have lowered their discounts on the central bank’s long-term benchmark lending rate from 10% to 5%. The rate currently is 4.9% for loans with a maturity of more than five years, a banker responsible ... ( read original story ...)
Buffett warns China that markets can sometimes become a 'casino'
Shanghai composite 3-year performance The Shanghai composite ... despite some growing pains. "I do think the Chinese stock market is cheaper than the American market," he said. "I do think that China has a bright future." ( read original story ...)
Lottery to stabilize Shanghai housing
Shanghai will introduce a lottery system for sales of new residential projects as demand is overtaking supply, according to a circular of the city's housing authorities. The lottery will guarantee "transparent and fair distribution" of units, and is part ... ( read original story ...)
Shanghai steps up supervision of red-hot property market
... Shanghai's housing authority has stepped up supervision over its property market, continuing to rein in a sector plagued by irregularities and rampant speculation. Property prices have soared in China's biggest cities such as financial hub Shanghai ... ( read original story ...)
Inside Shanghai’s First Seven-star Hotel
A creation of glass and steel, the Wanda Reign on the Bund, China’s first seven-star hotel, adds sparkle to the well-known Shanghai promenade. But it is the hotel interiors that truly amaze. Think all-out Art Deco glamour topped with oriental opulence ... ( read original story ...)
Bike Sharing Firm Youon Calls Off IPO Amid IP Infringement Lawsuit
Youon Bike, a Jiangsu province-based bike sharing company, has called off its planned initial public offering in Shanghai after a lawsuit was filed ... by issuing 24 million shares in an IPO two months ago. It was its second attempt at a listing, after ... ( read original story ...)
Shanghai introduces lottery system to cool property market
SHANGHAI Shanghai's housing regulator will introduce a lottery system to govern new home sales as part of its efforts to curb speculation and cool the market, the official Xinhua news agency reported late on Thursday. Xinhua cited a notice released by ... ( read original story ...)