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kevinan108

China's easing aimed at housing market - MarketWatch - 0 views

www.marketwatch.com/...d-at-housing-market-2012-05-14

China housing bubble cooling slowgrowth banks

shared by kevinan108 on 18 May 12 - No Cached
  • The People’s Bank of China announced on Saturday it plans to lower then the ratio of reserves bank must set aside as deposits at the central bank by a half percentage point, effective Friday.
  • Investment in real estate was up 18.7% in the first four months of the year, cooling significantly from a 23.5% gain in the first three months of the year, according to official figures released Friday. The data weren’t broken down on a monthly basis.
  • The numbers indicated property developers were cutting back on land purchases, with outlays on sites of 182 billion yuan ($28.81 billion) in the January-to-April period, a drop of nearly 14% from a year earlier.
  • ...1 more annotation...
  • Standard Chartered said developers’ concerns over the property market were reflected in data showing residential investment hitting the wall in April, growing just 4% during the month, compared to a 15.1% year-on-year rise in March.
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