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Nor, among home buyers in China, is there a significant amount of debt financing. According to Patrick Chovanec, a professor at Beijing's Tsinghua University who studies the Chinese real estate sector, only about 50% of residential purchases are made using mortgages. The other half are paid for in full...
During his opening address to the NPC, Premier Wen said that 2010 was going to be a year of unprecedented economic complexity. He certainly got that right. A real estate downturn, perhaps a severe one, will hit China sooner or later. The problem is that if it arrives sooner, the...
See 10 things to do in Beijing.
Compounding the book's hamfisted nature is its tendency to sound like an apologia for the Chinese government. For instance, the Naisbitts blame "the Western press" for stoking fear about the 2003 SARS epidemic and contend that "Chinese media broke the news of official suppression of information about the SARS...
Beijing residents awakened Monday to skies the eerie yellow color of a street lamp. It was the second time in three days that the Chinese capital had been scoured by sandstorms that have hit 16 provinces across west, central and north China, affecting nearly one-fifth of the country's...