China housing prices jump 10.5 percent
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China's already record-high housing prices jumped 10.5 percent in December despite authorities' efforts to cool the boom, but the growth rate slowed slightly, the government said Thursday.
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Housing construction in August jumped to its highest level in five months, a dose of encouraging news for the economy's expansion.
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Seeking to cool Chinaâs rapid growth rate, the Peopleâs Bank of China announced Friday that it will raise interest rates to 6.84 percent, the highest level in eight years.
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China's economy is set to grow at a faster-than-expected rate of 10.4% this year, the Asian Development Bank says.
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A spokesman from the National Bureau of Statistics (NBS) said here Friday that multi-fators have pushed up the housing price. Statistics show that the prices of housing and residential housing in the first
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Housing starts have been very high relative to the number of homes that builders are trying to sell.
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Homeowners are given a boost after policymakers at the Bank of England vote to keep interest rates at 5.25%.
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China sought Friday to soothe concerns  over a surprise interest rate rise, its first in nearly a  decade and one which is expected to kick off a series of  increases to cool growth in the world's seventh-biggest  economy.
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China raises interest rates in a move to dampen inflation and stop the economy overheating.
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OTTAWA (CP) - A robust housing market and higher prices for building materials, labour and land pushed up prices for new houses across the country in August, says Statistics Canada.
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China&#39;s annual economic growth surged  to an 11- year high of 11.9 percent in the second quarter,  cementing expectations for tighter policy to keep the world&#39;s  fastest-growing major economy from overheating.
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Chinaâs currency rose steeply against the dollar this week, feeding speculation that Chinese authorities were allowing their currency to appreciate more rapidly.
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The average price of a home in the UK surged in January, according to official figures.
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Chinaâs economy grew at its fastest pace in a decade in the second quarter, raising fears that the economy was overheating.
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Chinaâs inflation rose to 6.5 percent in August, an 11-year high, and the trade surplus widened by 33 percent to $24.97 billion, the second-highest monthly level on record.
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BEIJING -- The central bank says China's economy should grow by 10.5 percent this year, state media reported yesterday, even stronger than the 10 percent predicted last week by the National Bureau of Statistics.
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MONTREALâBombardier Inc. common stock jumped 10 per cent yesterday as the market reacted to news the transportation giant has been selected to share in a major railway project in China.