New house prices in China increased by 0.15%

02 Jul 2024 CW Team

According to a private poll, the price of new homes in China increased in June at the slowest rate in five months. Thus far, the country's struggling property sector has benefited little from a recent large government package of assistance measures. Data from real estate research firm China Index Academy shows that the average price of new residences across 100 cities increased by 0.15% month over month in June, a less substantial increase than a 0.25% gain in May. It also stated that from January to June, the value of new house sales at China's top 100 real estate enterprises fell by 41.6% compared to the same time last year. Chinese officials launched what they described as a historic support package in May for the real estate industry, which has been severely impacted by a lack of liquidity. The package further cut downpayment requirements and removed the floor for mortgage rates. Local governments can also now instruct state-owned firms (SOEs) to purchase completed unsold apartments from property developers and convert them into social housing. The China Index Academy data also showed the average price of second-hand homes across 100 cities fell 0.73% in June from a month earlier, the 26th straight month of declines.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..