{"id":9347,"date":"2011-06-17T18:06:39","date_gmt":"2011-06-17T18:06:39","guid":{"rendered":""},"modified":"2011-06-17T18:06:39","modified_gmt":"2011-06-17T18:06:39","slug":"Property-prices-rise-in-China-as-they-buy-US-properties","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9347","title":{"rendered":"Property prices rise in China as they buy US properties"},"content":{"rendered":"<p><strong>The price of new apartments rose in May in 67 out of 70 Chinese cities tracked in a monthly survey<\/strong>, the National Bureau of Statistics said Saturday, as the government battles to rein in inflation.<\/p>\n<p>The cost of new builds climbed by more than 5.0 percent in 33 of the cities, compared to 37 to April, the figures showed.<\/p>\n<p><strong>Soaring property prices are a major concern for many Chinese<\/strong>, with apartments in the centre of large cities beyond the reach of most budgets.<\/p>\n<p><strong>The real estate sector is one of the pillars of the economy and land sales to developers<\/strong> are an important source of revenue for municipalities.<\/p>\n<p>Beijing has called on cities to build more social housing but local governments fear a loss of income if they sell land at low prices.<\/p>\n<p><strong>In its struggle to dampen inflation, the Chinese central bank Tuesday said it would raise the reserve requirement for the sixth time this year<\/strong>, effectively limiting the amount of money banks can lend.<\/p>\n<p>In May, even before the latest increase which takes effect on Monday, the volume of new loans had fallen sharply compared to April.<\/p>\n<p>The consumer price index rose to 5.5 percent last month, its highest level since July 2008.<\/p>\n<p>Further monetary tightening is expected in coming weeks as the authorities, anxious about inflation&#8217;s potential to spark social unrest, <strong>try to stem a flood of credit in the economy<\/strong>.<\/p>\n<p>However, the Chinese are getting bargains in the US. America is for sale! Cheap! \ud83d\ude41 <a href=\"http:\/\/www.prisonplanet.com\/the-chinese-government-is-buying-up-economic-assets-and-huge-tracts-of-land-all-over-the-united-states.html\">The Chinese are buying up American assets!<br \/>\n<\/a><\/p>\n<p><em>Source &#8211; AFP<\/em><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of new apartments rose in May in 67 out of 70 Chinese cities tracked in a monthly survey,<\/p>\n","protected":false},"author":1,"featured_media":70655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[],"class_list":["post-9347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"magazineBlocksPostFeaturedMedia":{"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"colormag-highlighted-post":false,"colormag-featured-post-medium":false,"colormag-featured-post-small":false,"colormag-featured-image":false,"colormag-default-news":false,"colormag-featured-image-large":false,"colormag-elementor-block-extra-large-thumbnail":false,"colormag-elementor-grid-large-thumbnail":false,"colormag-elementor-grid-small-thumbnail":false,"colormag-elementor-grid-medium-large-thumbnail":false},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"The price of new apartments rose in May in 67 out of 70 Chinese cities tracked in a monthly survey,","magazineBlocksPostCategories":["News"],"magazineBlocksPostViewCount":125,"magazineBlocksPostReadTime":2,"magazine_blocks_featured_image_url":{"full":false,"medium":false,"thumbnail":false},"magazine_blocks_author":{"display_name":"Admin","author_link":"https:\/\/asiancemagazine.com\/?author=1"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g","magazine_blocks_category":"<a href=\"#\" class=\"category-link category-link-1\">News<\/a>","_links":{"self":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/9347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9347"}],"version-history":[{"count":0,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/9347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/media\/70655"}],"wp:attachment":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}