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oct 2021 citydev selldown if happen
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chartistkao1
Supreme |
20-Oct-2021 04:19
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By
Many economists and analysts have long argued that such a tax could make it more expensive to speculate on property and help bring down prices. That would help reduce the financial burden on middle-class families, in line with Mr. Xi&rsquo s goal of a more even distribution of wealth. China has experimented with a tax on some properties in just a couple of cities during the past decade. Earlier this year, Mr. Xi assigned to Han Zheng, the most senior of China&rsquo s four vice premiers, the task of rolling out the levy much more widely, these people say.
But Beijing is now settling for a limited tax plan because of strong pushback, while a proposal involving state-provided affordable housing is emerging as an alternative. Mr. Xi&rsquo s efforts to tame a market that has been in an extended boom for four decades has already sent shock waves across the Chinese economy and global markets. He has shown little mercy to China Evergrande Group, even as the heavily indebted property developer teeters on default. Other private developers that have binged on debt are also being squeezed. Home sales are falling and banks are pulling back on new lending. The impact from property tightening contributed to a sharp slowing in China&rsquo s growth in the third quarter. RelatedWhy China&rsquo s Evergrande Has Global Markets on Edge
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Now, Mr. Xi appears bent on putting in practice his slogan: &ldquo Housing is for living, not for speculation.&rdquo However, in internal debates, the feedback to his property-tax plan from both the party&rsquo s elites and its rank-and-file members has been overwhelmingly negative, say the people familiar with the deliberations. Arguments against the tax, which would be levied annually on the value of a property, have flooded in since the ministries of finance, housing and taxation started to seek feedback to the tax proposal in the spring. Many officials contend that such a levy could crush housing prices, cause consumer spending to plunge and severely harm the overall economy.  The sprawling municipality of Chongqing in central China has levied an annual charge on second homes or high-priced ones since 2011.Photo: Sun Jihu/Sipa Asia/Zuma PressMore than 90% of urban Chinese families own their homes, and property-related industries account for nearly a third of the country&rsquo s output. Meanwhile, up to 80% of China&rsquo s household wealth is tied up in real estate a drop in property values could make homeowners feel poorer and less willing to spend. Press offices for China&rsquo s State Council, the top government body, and the ministries of finance, housing and taxation didn&rsquo t respond to questions. Some retired senior party members also petitioned against imposing the new tax, saying they themselves couldn&rsquo t afford to pay any additional taxes. &ldquo So many people, including party members, own more than one property,&rdquo said one of the people familiar with the deliberations. &ldquo The tax proposal is becoming a potential social-stability issue.&rdquo CHINA MARKET REPORTAn initial proposal to test-run the tax in some 30 cities has been scaled back to just around 10. Officials are still haggling over how to set the tax rate for the pilot initiative and whether to offer discounts and exemption areas. A new law aimed at advancing the tax across the country likely won&rsquo t be finalized until around 2025, the last year of the current five-year development plan, the people said. One idea under discussion is to gradually test the tax plan in big cities, including Shanghai and the sprawling municipality of Chongqing in central China, which both have levied an annual charge on second homes or high-priced ones since 2011. Other places under discussion include the southern boomtown of Shenzhen and the province of Hainan, both designated by Mr. Xi as the testing ground for building a socialist market economy. RelatedWhat China' s Economic Slowdown Means for Global Investors
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In a sign that Mr. Xi has come to terms with the less-aggressive proposal that centers on limited trial runs of the tax, he wrote in an article published in the Oct. 16 issue of the party&rsquo s top theoretical journal, Qiushi, &ldquo We should actively and steadily promote the legislation and reform of real-estate tax, and do a good job in the pilot work.&rdquo Meanwhile, local governments, which get roughly a third of their revenue from selling land to property developers, worry that a property tax would cause demand for land to drop and hurt their revenues, which amounted to more than $1 trillion last year. Already, with developers&rsquo ability to access financing severely curtailed, land transactions and sales revenues in China are falling by record margins, according to research firm Rhodium Group. In the southern city of Guangzhou, for instance, the government sold less than half of the 48 parcels of land offered in a late September auction, and only five parcels sold above their asking price. Based on transactions data from 100 cities, Rhodium&rsquo s analysis shows that land sales plunged 43% in the first three weeks of September from a year earlier. The drop is adding to the financial strains on many localities across the country. Across other sectors, Mr. Xi&rsquo s campaign to squeeze what he sees as capitalist excesses out of the Chinese system has already cut into growth.  Han Zheng, the most senior of China&rsquo s four vice premiers, was assigned earlier this year the task of rolling out the levy more widely, people familiar with the matter say.Photo: Liu Weibing/Zuma Press&ldquo Beijing is clearly willing to risk rising economic costs, which raises questions about how far authorities will push the property sector,&rdquo said Logan Wright, Rhodium&rsquo s director of China markets research. Mr. Xi hinted at the tensions his economic-cleanup effort could cause in a Sept. 1 speech, which some officials read as an attempt to prepare his party apparatchiks for tough times. &ldquo Daring to struggle is the distinct character of our party,&rdquo Mr. Xi said during the speech at the Central Party School, the exclusive training ground for Communist leaders. &ldquo Starting a new journey of building a modern socialist country&hellip [we] will not face fewer risks and tests than in the past.&rdquo Chinese society has in the past four decades moved from the Maoist notion of people living in housing provided by their work units to a roller-coaster market. A less controversial alternative to the tax proposal centers on affordable housing provided by state firms. Under this idea, China would essentially go back to a &ldquo dual-track&rdquo system with government-subsidized housing offered alongside commercial housing. It was the initial direction for China&rsquo s housing reform that started in the late 1990s, according to government advisers, but over the years the effort had focused almost only on commercialization. Now, some officials and advisers say, a return to such a system could help the leadership make China more equal. &ldquo What&rsquo s needed is to revisit the &lsquo dual-track housing system&rsquo and let state-owned enterprises and companies controlled by the central government return to affordable housing,&rdquo Meng Xiaosu, former head of China&rsquo s housing reform research group, wrote in an online article last month. A financing firm owned by the provincial government of Yunnan, in southwestern China, is among those that have sprung into action. The Yunnan government announced in late September that Yunnan Construction Investment Group will team up with state banks to expand the supply of affordable housing &ldquo with a high sense of mission and responsibility.&rdquo  High rise apartment buildings in Taicang, Jiangsu province, are being built by China Evergrande Group.Photo: Qilai Shen/Bloomberg News
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slingshotpro
Senior |
19-Oct-2021 22:44
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This is 1 year ago news. Stop confusing everyone
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wavesurfer
Member |
19-Oct-2021 22:00
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联 想 很 棒 不 过 都 是 过 去 式 了 现 在 该 涨 了 吧
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chartistkao1
Supreme |
19-Oct-2021 16:44
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sincere sang its best swan song before
https://www.jiemian.com/article/6461511.html
A swan song is the final performance of an actor, singer, composer, poet, or the like. According to folklore, swans sing most beautifully before they die, and hence this phrase came to be used to describe someone who was leaving in style.
https://www.youtube.com/watch?v=1145A2lOe6I
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chartistkao1
Supreme |
19-Oct-2021 16:41
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https://images.app.goo.gl/twdQLBNtBBqTsYvx9
https://www.youtube.com/watch?v=q5TfaONIoqw
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chartistkao1
Supreme |
19-Oct-2021 16:38
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妖 魔 看 招
城 市 发 展 以 1美 元 脱 售 重 庆 协 信 远 创 实 业字 体 大 小 :
集 团 同 时 和 重 庆 协 信 远 创 达 成 协 议 ， 后 者 转 让 深 圳 启 迪 协 信 科 技 园 发 展 有 限 公 司 （ Shenzhen Tusincere Technology Park Development） 的 其 余 股 权 ， 作 为 贷 款 的 部 分 还 款 。 城 市 发 展 昨 晚 （ 9月 10日 ） 披 露 ， 子 公 司 Sonic Investment和 HCP Chongqing Property Development（ 简 称 HCP Cayman） ， 同 保 弘 有 限 公 司 （ Sure Spread Limited） 达 成 协 议 ， 保 弘 将 以 1美 元 收 购 Sonic持 有 HCP Cayman的 63.75％ 股 权 。
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chartistkao1
Supreme |
19-Oct-2021 16:37
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CDL的 抓 妖 记 https://images.app.goo.gl/rYQviNGMf46e44nd9 |
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chartistkao1
Supreme |
19-Oct-2021 16:32
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城 市 发 展 遇 妖 记
https://www.fortunetimes.sg/cn/?p=19451
https://www.youtube.com/watch?v=HQILfU-MgRw
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chartistkao1
Supreme |
19-Oct-2021 16:29
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CDL director Kwek Leng Peck quits due to disagreements with board, managementWed, Oct 21, 2020 - 3:06 PM
UPDATED Wed, Oct 21, 2020 - 3:19 PM
https://www.youtube.com/watch?v=g_VkVG_2BPc
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chartistkao1
Supreme |
19-Oct-2021 16:21
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looking at CDL 5 years historical price
https://finance.yahoo.com/quote/C09.SI/history?period1=1476835200& period2=1634601600& interval=1d& filter=history& frequency=1d& includeAdjustedClose=true
https://www.youtube.com/watch?v=sWkP_XeBANE
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chartistkao1
Supreme |
19-Oct-2021 16:17
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accumulate Citydev at $7.4 https://www.youtube.com/watch?v=H0X3Nn0oAD4 |
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ETLee8
Master |
19-Oct-2021 13:27
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Institutions are not stupid. They Net Sell CDL this year so far. If u must choose the property stocks go for UOL instead of CDL for the following reasons : 1. Unlike CDL, UOL got no major exposures 2. Higher NAV $11.71 for UOL vs $9.22 for CDL 3. Lower Net Bank Borrowings (about $5.1B) vs very High Net Bank Borrowing for CDL (almost $12B) 4. UOL is Financially stronger being back by UOB 5. See The below stats UOL CDL a. Net asset $20.7B $24.5B b. Unsecured borrowing Repayable within 1 year $2.25B $3.6B Repayable after 1 year $1.73B $5.99B Total $3.98B $9.644B Secured Borrowing Repayable within 1 year $138M $267m Repayable after 1 year $1.1B $1.8B Total $1.238B $2.67B c. Market Cap $6.13B $6.73B d. No of shares 844M 906.9M e. 1H21 results $93.1M Profit ($32.1M) Loss Itis likely that CDL may hv to borrow more when they launched Canning Piers together with Capital Land. DYODD |
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ETLee8
Master |
18-Oct-2021 16:25
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https://www.cnbc.com/2021/10/18/china-property-defaults-risks-for-other-developers-pboc-on-evergrande.html
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chartistkao1
Supreme |
18-Oct-2021 14:53
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seeking an answer and a closure to the whole crisis
https://www.straitstimes.com/business/economy/pbocs-yi-says-china-can-contain-the-risk-from-evergrande
https://www.youtube.com/watch?v=2WN0T-Ee3q4
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chartistkao1
Supreme |
18-Oct-2021 14:49
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evergrande' s story https://cn.reuters.com/article/yigang-china-economy-challenges-1017-sun-idCNKBS2H801I
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chartistkao1
Supreme |
18-Oct-2021 14:47
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狸 猫 换 太 子 是 从 明 清 时 期 开 始 流 传 的 一 个 民 间 传 说 ， 指 的 是 宋 真 宗 年 间 ， 皇 子 赵 祯 （ 宋 仁 宗 ） 出 生 时 ， 被 当 时 的 刘 贵 妃 （ 后 为 刘 皇 后 ） 以 狸 猫 调 包 一 事 。 自 诸 多 戏 曲 、 小 说 乃 至 现 在 京 戏 、 歌 仔 戏 、 电 影 、 电 视 剧 中 ， 又 常 以 《 打 龙 袍 》 、 《 宋 宫 秘 史 》 等 剧 名 呈 现 。
https://www.straitstimes.com/business/companies-markets/china-signals-end-to-27-trillion-us-stock-listing
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chartistkao1
Supreme |
18-Oct-2021 14:39
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97年 发 生 ， 现 在 又 发 生 | ||||
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chartistkao1
Supreme |
18-Oct-2021 14:38
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好 的 时 后 ， 不 要 看 的 太 好 2008 to 2018 https://www.youtube.com/watch?v=9zCveAirxho
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chartistkao1
Supreme |
18-Oct-2021 14:28
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https://www.cnbc.com/2019/10/03/us-futures-point-to-slightly-lower-open.html
https://www.youtube.com/watch?v=hn4qaBtcy64
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chartistkao1
Supreme |
18-Oct-2021 14:26
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https://www.forbes.com/sites/johntobey/2020/10/20/this-is-not-a-stock-market-dip--its-the-beginning-of-another-scary-october-selloff/?sh=22238c4b7f43
https://www.youtube.com/watch?v=xN8sX9GDFvQ
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