China's property market will probably go through a "more meaningful correction" this year because the price gains in 2009 aren't sustainable, according to Mr Christopher Lee, corporate ratings director at Standard and Poor's. The outlook for the Chinese market is "neutral" for this year, Mr Bei Fu, an associate director of corporate ratings at S&P, said during a conference call with Mr Lee on...
China Property Market
Municipal governments in Shanghai and Hangzhou on China's east coast have joined a growing number of cities to introduce measures to prop up the sliding real estate market. For individuals buying their first homes in Shanghai, the maximum they can borrow from the government's housing fund has been doubled to 200,000 yuan ($43,100), the city's housing fund management agency said. The new rules took effect...