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UPDATE: China Average Housing Price Rises in June After 9 Months of Decline - CREIS - China housing prices rebounded for the first time in June on month after nine months of decline, according to a private data provider -- Average housing price in June was CNY8,688 a square meter, rising 0.05% from CNY8,684 in May, reversing from May's 0.31% decline -- Housing prices in Inner Mongolia's Baotou city and Beijing rose by the widest margin, at 2.6% and 2.3%, respectively -- Sales have improved as China eases monetary policy, and prices are rising as developers have started to reduce discounts, analysts say (Adds comments from analysts in third to fourth paragraphs, 13th to 14th paragraphs, a homebuyer's comment in 10th to 12th paragraphs and background onrecent property easing moves by local governments in the final paragraphs.) By Esther Fung SHANGHAI--The average price of housing in 100 major Chinese cities recorded its first sequential rise in June after nine straight months of decline, in a further sign that the housing market is turning a corner, though analysts say a robust rebound in prices remains unlikely. A survey of property developers and real-estate firms showed the average price of housing in June was CNY8,688 a square meter, rising 0.05% from CNY8,684 in May, and overturning May's 0.31% decline, data provider China Real Estate Index System said Monday. "I believe the housing market has bottomed out," said Nicole Wong, a property analyst from CLSA. She also said that inventory will likely peak in the third quarter and prices will rise by a modest 5% by the fourth quarter, as demand for new launches has been strengthening in the past few months and developers don't need to lower their prices too much to attract buyers. On an on-year basis, the average housing price fell for a third consecutive month, sliding 1.90% from CNY8,856 booked in June 2011, and accelerating from May's 1.53% decline. The survey, compiled wi

The East Is Rising Meet the 29 Chinese cities powering global growth. BY ELIAS GROLL | SEPT/OCT 2012 Keren Su/Getty Images 1 / 30 Foreign Policy's index of the 75 most dynamic global cities contains more than a few surprises, but perhaps none more so than the fact that 29 of these cities are in China -- far and away the most of any country on the list. As part of its mad dash toward modernization, China has rapidly urbanized, spawning a slew of massive cities whose size is only tempered by the surprising fact that most people in the West have never heard of them. Despite their relative anonymity, these are the cities likely to drive the world economy during coming decades. Some are high-tech manufacturers; others are bathed in smoke produced by the factories that not long ago were a common sight in Western countries. Meet the 29 Chinese cities powering global growth. Shanghai: Although Shanghai had no skyscrapers in 1980, it now has at least 4,000 -- more than twice as many as New York. In 2010, 208 million square feet of real estate, nearly 80 times the square footage of New York's massive One World Trade Center, was constructed in the city. Above, the Jinmao Building and Oriental Pearl TV Tower can be seen dominating the Shanghai skyline as its rises from the banks of Huangpu River. [...] En ligne, site consulté le 17/08/2012

While the rest of the world faded into black and white during the Great Depression, Shanghai in the 1930s was a glittering metropolis of 3 million people studded with cabarets, nightclubs, and legendary bordellos. Known as the "Paris of the Orient," Shanghai developed a high-flying social scene for the city's elites and expatriates, and it became famous for hosting all manner of vices, not limited to gambling on horse and dog races or a thriving opium scene. Legend has it that Christian missionaries in the city would shake their heads and muse, "If God allowed Shanghai to endure, he owes Sodom and Gomorrah an apology." Here's a look at China's sin city before it became the stainless-steel jungle of the 21st century. En ligne, site consulté le : 17/08/2012