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	<title>China Tells &#187; Property China (房产透视)</title>
	<atom:link href="http://blog.chinatells.com/category/property-china/feed" rel="self" type="application/rss+xml" />
	<link>http://blog.chinatells.com</link>
	<description>Investor&#039;s Portal to China</description>
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		<item>
		<title>A Comparison between China and US housing Price (中美房价对比)</title>
		<link>http://blog.chinatells.com/2011/12/5250</link>
		<comments>http://blog.chinatells.com/2011/12/5250#comments</comments>
		<pubDate>Thu, 08 Dec 2011 05:39:46 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=5250</guid>
		<description><![CDATA[IS China&#8217;s housing price expensive? Depends. Expensive is always a relative concept. This chart compares the housing price in a lot of Chinese cities to that of the United States, and it seems that the housing prices in two countries are quite similar. 中国房价贵么？要看你怎么看了。贵和便宜一直是一个相对概念。这张图表对比了中国和美国十几个大城市的平均房价。看起来似乎中美两国的房价差不多。 Related Posts:China National Housing Price on Fire (房价节节攀升)China&#8217;s Housing Price Tops [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/12/5250/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s GDP heavily relies on property (GDP靠房产)</title>
		<link>http://blog.chinatells.com/2011/09/5129</link>
		<comments>http://blog.chinatells.com/2011/09/5129#comments</comments>
		<pubDate>Tue, 20 Sep 2011 13:02:36 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=5129</guid>
		<description><![CDATA[How important is China&#8217;s property sector to her GDP? What is the contribution of China&#8217;s real estate to the country&#8217;s economy? A lot of people would say very important. But this graph shows a better picture by quantifying the importance: it is estimated that the property sector accounts for about 13% of China&#8217;s annual GDP [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/09/5129/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Construction Boom (房产泡沫倒计时)</title>
		<link>http://blog.chinatells.com/2011/09/5125</link>
		<comments>http://blog.chinatells.com/2011/09/5125#comments</comments>
		<pubDate>Tue, 20 Sep 2011 12:48:10 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=5125</guid>
		<description><![CDATA[Does China have a property bubble? If so what stage is the bubble at? Will the bubble burst? These are questions that have been debated repeatedly among scholars and market observers, yet with strong divided opinions. One of the reasons for the divided views is that it seems quite difficult to agree on the facts [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/09/5125/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Back to Ordos in 2 Years (再探鬼城)</title>
		<link>http://blog.chinatells.com/2011/09/5118</link>
		<comments>http://blog.chinatells.com/2011/09/5118#comments</comments>
		<pubDate>Mon, 12 Sep 2011 01:33:19 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[From China (内部思潮)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Video China (镜下百态)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=5118</guid>
		<description><![CDATA[It&#8217;s been 2 years since the empty city of Ordos has been reported. So what the city looks like after 2 years? This video takes you there. 2年前，内蒙鬼城鄂尔多斯被媒体曝光。2年后的今天，这个城市有什么变化呢？ Related Posts:Wu Zhijian, CEO of Woodsford Capital Management being interviewed on Economic Times (实时采访)Empty City being built for GDP (21世纪的空城计)鄂尔多斯，中国的迪拜 (China&#8217;s Dubai &#8211; Ordos)Is China being Emptied? [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/09/5118/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>No worry for Chinese banks (银行很安全)</title>
		<link>http://blog.chinatells.com/2011/07/5047</link>
		<comments>http://blog.chinatells.com/2011/07/5047#comments</comments>
		<pubDate>Thu, 07 Jul 2011 06:11:18 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=5047</guid>
		<description><![CDATA[Recently there is a lot of worry about the outlook of Chinese banks as concerns of property bubble burst continue to grow. If one looks at the exposure of banks to property sector, however, it seems that Chinese property developers and house buyers are not that leveraged compared to Australia and Singapore. The exposure of [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/07/5047/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Tick Tick of China&#8217;s Time Bomb (子弹在飞？)</title>
		<link>http://blog.chinatells.com/2011/01/4921</link>
		<comments>http://blog.chinatells.com/2011/01/4921#comments</comments>
		<pubDate>Fri, 21 Jan 2011 07:39:22 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4921</guid>
		<description><![CDATA[Is there a bubble in China&#8217;s construction sector? Is the property price over stretched in China? The answer seems to be certain. A lot of people view China&#8217;s property sector as a time bomb that will explode sooner or later (Click here for an interview with Jim Chanos, who is very bearish on China). However, [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/01/4921/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Dongguan&#8217;s Ghost Mall (东莞空城计)</title>
		<link>http://blog.chinatells.com/2011/01/4905</link>
		<comments>http://blog.chinatells.com/2011/01/4905#comments</comments>
		<pubDate>Thu, 13 Jan 2011 04:27:58 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Video China (镜下百态)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4905</guid>
		<description><![CDATA[China went through a property boom in 2009/10. Yet the concerns on the property bubble are only growing stronger. Above is a video of an empty mall in Southern China. 鄂尔多斯有个空城，东莞有个空楼。这座所谓中国最大的购物大厦至今仍是空空如也，没有什么顾客光顾。 Related Posts:Chanos vs El Erian on China (牛熊之争)Zhang Ziyi: My Fiance is Fine (章子怡驳斥未婚夫爱滋传闻)A conversation between Wong and Sam (中美战略对话)Longest Eclipse in 300 years [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2011/01/4905/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Big Plan on Social Housing (保障性住房关乎民生)</title>
		<link>http://blog.chinatells.com/2010/12/4850</link>
		<comments>http://blog.chinatells.com/2010/12/4850#comments</comments>
		<pubDate>Thu, 23 Dec 2010 02:52:34 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4850</guid>
		<description><![CDATA[China&#8217;s government has launched a few measures to cool down the domestic property mania. One of the measures is to build more social housing (Click HERE for a Reuters Story). The social housing is built to be rented to the low income families who are unable to afford to buy their own home. Accoridng to [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4850/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>New Graduating College Students need house (大学毕业新生支撑购房需求)</title>
		<link>http://blog.chinatells.com/2010/09/4623</link>
		<comments>http://blog.chinatells.com/2010/09/4623#comments</comments>
		<pubDate>Thu, 23 Sep 2010 13:42:11 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4623</guid>
		<description><![CDATA[Is China's housing market in a bubble? Will China's real estate price go up or down? What are the factors behind to support an ever increasing housing price in China? These are all big tough questions. Recently a graph from Credit Suiss caught Chinatells' attention. According to the graph, there is a positive correlation between the number of new graduating college students and China's property price since 1999. In the foreseeable future there are likely more students to graduate from college. Therefore such a trend would be a supporting factor to the housing price. It seems that the two did go up hand in hand in the past ten years. However I am not sure such a positive correlation provides good evidence to support a causality between the two. A good potential reason for an increasing trend of college graduates is that the Ministry of Education has allowed the universities to increase the enrollment of students in the past ten years. Such an increase trend is consistent with a downtrend in the young labor supply in the past decade. Therefore I doubt whether the positive correlation will continue in the next few years.

关于中国房价的争论经常上报纸头条。最近我看到一份瑞士信贷的分析，指出在过去10年中，中国的大学毕业生和房价同步上升，成很强的正相关关系。该报告预计在未来几年中国的毕业大学生将继续增加，因此会对房价有一定的支撑作用。我不否认过去10年可能两项数据确实同步上升。但是这其中有很多原因，包括大学的扩招。因此该关系能否在未来继续保持正相关很值得怀疑。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/09/4623/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Economic Housing Space being squeezed out (经济房越建越少)</title>
		<link>http://blog.chinatells.com/2010/09/4607</link>
		<comments>http://blog.chinatells.com/2010/09/4607#comments</comments>
		<pubDate>Fri, 10 Sep 2010 12:41:31 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4607</guid>
		<description><![CDATA[China's production of houses has been increasing at least as rapid as the economic growth in the past decade. However, the proportion of economic housing space, which is supposed to be supplied to those who are unable to afford to a house, has continued to decrease on a proportional basis. According to the data from CEIC, the total floor space constructed has increased from around 100 million square meters in 1996 to about 500 million square meters in 2008. However, the proportion of social economic housing space has gone down from 25% to 5%. It seems that the government is looking into this issue and is likely to come up with some proposal to address it in the near future.

中国在过去10年建了很多住房,几乎每年都增加.但是与之相比,经济廉租房的建设相对就要迟缓很多.在总住房的建设面积中,经济廉租房的比例一路下滑,从25%下降到5%.政府可能已经意识到这个问题,并且发出号召,要增加经济廉租房的建设,让更多的穷人有房子住.]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/09/4607/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Land Price increases faster than GDP (地价超涨进行时)</title>
		<link>http://blog.chinatells.com/2010/08/4556</link>
		<comments>http://blog.chinatells.com/2010/08/4556#comments</comments>
		<pubDate>Tue, 17 Aug 2010 13:24:22 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Publication (出版发行)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4556</guid>
		<description><![CDATA[Recently a graph from JP Morgan has caught the attention of Chinatells. According to the stats compiled by JPM, China's residential land price change (YoY) has always lagged that of GDP, until end of 2009/beginning of 2010. Since then, the land price increase has surpassed that of GDP increase.

Such a chart is consistent with Chinatells' observation that housing price (partially pushed up by land price) has gone up at a particularly fast pace since the end of 2009. As Chinatells has long argued, the ever increasing housing price in China is one of the most important factors to curb average household from consuming more. According to a study conducted by China's Academy of Social science, Chinese households' average saving ratio is stably around 50% in the last 10 years, if the revenue of property sales is added back to the household saving. In other words, the currently observed downtrend in Chinese households' saving ratio reflects the fact that average Joe's consuming power has been largely crippled by the ever increasing housing price.

To put it simple, if the government is serious about boosting the domestic consumption and try to grow the economy more towards consumption lead, then housing price (related land price) is one of the critical issues to address before we see the transition of economic growth mode to happen.

最近中国通注意到JP Morgan一张图表。该图表显示，自09年底以来，中国住宅用地的价格年增长率首次超过国民生产总值的年增长率。这个落差在过去10年绝无仅有，显示了 09年以来地价上涨的夸张程度。相应的，房价的上涨也顺理成章，成为压在城市居民背上一座难以撼动的负担。根据中国社科院最近的一项研究，高企的房价已经成为阻碍中国广大家庭增加消费的重要因素之一。联想到最近政府领导发出指示要减少经济增长对于出口和投资的依赖，并且增加消费对于经济增长的促进作用，那么改革房价已经成为最紧迫的需要解决的问题之一。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/08/4556/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China Property Companies&#8217; Land Acquisition Shrinking (房企拿地渐少)</title>
		<link>http://blog.chinatells.com/2010/08/4502</link>
		<comments>http://blog.chinatells.com/2010/08/4502#comments</comments>
		<pubDate>Sun, 01 Aug 2010 06:18:47 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Corp China (公司动态)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4502</guid>
		<description><![CDATA[It seems that the pace of Chinese property companies' acquisition of land has been slowing down since Jan. According to a latest research from Centaline, the land acquisition for the 10 biggest property companies has shrunk from more than 2 million square meters to less than 1 million. Among the biggest property companies, Baoli, Vanke and Zhonghai are the ones with the richest acquisition of land space in first half of 2010.

中国房企对于土地的购买速度在4月份开始慢慢下降。通过对于全国最大的10家房企的跟踪研究显示，2010年1月份他们共拍得超过2百万平方米的土地，而该数字到了6月份就下降到不到1百万平方米。其中拍得土地最大的几家企业是保利，万科和中海。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/08/4502/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Shanghai House increasingly unaffordable (上海人真苦)</title>
		<link>http://blog.chinatells.com/2010/07/4489</link>
		<comments>http://blog.chinatells.com/2010/07/4489#comments</comments>
		<pubDate>Sat, 17 Jul 2010 23:50:16 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4489</guid>
		<description><![CDATA[The housing price in Shanghai is increasingly unaffordable according to a latest study. The Shanghai housing price affordability index has continued to go up since 2008, reaching almost the high in 2004. An increase in such an index shows less affordability of housing price for an average Shanghai resident. Generally speaking, if the affordability index surpasses 70%, it shows that most people can not afford to buy a house and therefore will have serious consequence.

上海的房价可承受指数连年上涨。该指数反映了一个普通上海人能否买得起房子的状况。如果该指数上涨，说明房价相对于家庭收入提高更快，因此普通人更难买的起房子。上海的可承受指数从08年以来一路上升，已经接近04年的高点。如果没有有效措施遏制这种趋势，那么对于社会和谐不利。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/07/4489/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Chinese Real Estate Shares valuation at low end (地产股估值处于低价位)</title>
		<link>http://blog.chinatells.com/2010/07/4486</link>
		<comments>http://blog.chinatells.com/2010/07/4486#comments</comments>
		<pubDate>Sat, 17 Jul 2010 23:37:23 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4486</guid>
		<description><![CDATA[China Property companies' share valuation is at the lower end compared to historical records. Since 2003, China's property stocks have been trading at a multiple between 9X and 60X. The multiple collapsed in end 2008/early 2009 to touch a low in the last 10 years, and has recovered mildly since. From a long term perspective, there might be some value in the property stock of Chinese equity market.

中国地产股最近的估值在15倍左右，从历史纪录来看属于低位。中国地产股在2007年创下了接近60倍的高位，但从那之后便一路下跌。2010年地产股估值从09年的低点有所回升。从长期投资的角度来看，目前的地产股可能还属于比较便宜的价位。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/07/4486/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>More downside for China housing price (房价走势不容乐观)</title>
		<link>http://blog.chinatells.com/2010/07/4474</link>
		<comments>http://blog.chinatells.com/2010/07/4474#comments</comments>
		<pubDate>Sun, 11 Jul 2010 03:44:13 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4474</guid>
		<description><![CDATA[China's housing price might have more potential to go down rather than go up. A review of the relationship between the price of China's national property price and Chinese real estate companies listed on A share shows such a trend. Historically the two have a fairly high positive correlation. Both experienced up and down turn in the last 5 years. In 2010, however, the real estate companies' share price has corrected about 20% from their peak (see dotted line in the graph), while the property price has just begun to ease. Such a discrepancy implies that there might be more downside for China's housing price to fall further in the near future. A correction of 20% to 30% from the current level is possible based on the above chart.

历史上来说，中国的房价和在A股上市的房地产企业之间有一个很相关的联系。一般来讲，房价高企，上市企业的股票价格就高涨。这种关系在过去几年皆得到了验证。从2010年开始，房价和房地产企业的股价走向发生偏差，房地产企业股价平均下跌30%，但是房价还没有怎么动。从这种情况来看，要么房价还要下跌，要么上市企业股价要回调。目前看来房价下跌的可能性更大。]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Housing supply in First Tier City still tight (一线城市供房依旧紧张)</title>
		<link>http://blog.chinatells.com/2010/07/4456</link>
		<comments>http://blog.chinatells.com/2010/07/4456#comments</comments>
		<pubDate>Sun, 04 Jul 2010 22:47:27 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4456</guid>
		<description><![CDATA[The recent tightening measure from the central government in the property sector has brought some hope for those who are still short of a flat. People hope that the tightening measure could bring down the housing price so that they can afford a home. On the other hand, however, the reality is that the supply of housing in first tier cities is quite tight and has never been improved. Probably this is how the property developers deal with the sometimes unpredictable policies from the government and keep their margin elevated.

中国一线城市的房屋供给从来没有宽松过。特别在上海，空房存货常年被维持在2个月左右。这可能就是房地产商维持高房价的秘密武器之一。]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China Household not leveraged (房贷还有上升空间)</title>
		<link>http://blog.chinatells.com/2010/06/4384</link>
		<comments>http://blog.chinatells.com/2010/06/4384#comments</comments>
		<pubDate>Sat, 05 Jun 2010 09:46:39 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4384</guid>
		<description><![CDATA[A cross nation comparison shows that China's households are not leveraged at all in terms of house mortgage. In the last ten years, US households' mortgage is at around 200% of the household saving, followed by UK at around 100% to 150% on average. In comparison, Chinese households' mortgage is only around 10% of the household saving, which shows a high potential to grow.

中国家庭在房贷上的杠杆率远远低于英美的水平。在过去十年中，英美的平均家庭房贷占到了家庭储蓄的150%以上，而中国还不到10%，因此还有很大的上升空间。]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Mantel: More downside on China&#8217;s Property and Banking sector (房地产和银行股还有下跌空间)</title>
		<link>http://blog.chinatells.com/2010/05/4380</link>
		<comments>http://blog.chinatells.com/2010/05/4380#comments</comments>
		<pubDate>Sat, 29 May 2010 11:14:21 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>
		<category><![CDATA[Video China (镜下百态)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4380</guid>
		<description><![CDATA[Andy Mantel is the Managing Director of Pacific Sun Investment Management Ltd. During an interview with Bloomberg, Andy reckons that there are still downside potential for China's property and Banking sector. His fund got out of China's A share since nine months ago and still doesn't see much value of going into A Share market now.

Andy Mantel在接受蓬勃社采访时发表看法，认为A股还有下跌空间。该基金主要在股市上做多空组合，目前他们对银行股持谨慎态度。]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Housing Price Tops the World (中国房价冠绝全球)</title>
		<link>http://blog.chinatells.com/2010/05/4357</link>
		<comments>http://blog.chinatells.com/2010/05/4357#comments</comments>
		<pubDate>Thu, 27 May 2010 23:58:27 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4357</guid>
		<description><![CDATA[China's Housing Price is the highest in the world based on housing price/income ratio and far leads the second runners. According to a latest study, the average housing price divided by average annual income, China's cities lead the league table by far.

中国的房价在世界上实属罕见。根据最新的一项调查发现，中国各个城市的房价/收入比比国外同仁要高出不少，其中厦门的房价收入比全球第一。]]></description>
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		<slash:comments>8</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Property Sector most hit in Q1 (房产股第一季度受重创)</title>
		<link>http://blog.chinatells.com/2010/05/4347</link>
		<comments>http://blog.chinatells.com/2010/05/4347#comments</comments>
		<pubDate>Sat, 22 May 2010 13:28:23 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4347</guid>
		<description><![CDATA[China's Property Sector of the stock market has been hit hard during Q1 of 2010. In 2009, MSCI property sector gained about 85%. During Q1 2010, the property stocks have lost about 15%. The other sectors also delivered worse performance in Q1 2010 compared to 2009.

中国房地产股票在10年第一季度下跌了15%左右。该表现和2009年度房地产股票的表现形成鲜明对比。其他行业的股票价格也受到不同程度的打压。]]></description>
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		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

