February 2, 2000 
| | |
| ||
| February 2, 2000 | atimes.com | |
| ||
| China Beijing to lift ban on listing of property developers BEIJING - China is to adjust its policy of banning the listing of property development companies, according to authoritative sources. The country plans to select some real estate companies for experimental listing. They are required to be large in scale and efficient, and have development potential, in order to further push forward the development of property market. The State Council, the highest governing body of China, announced the ban on listing of property developers in 1993, when the real estate market was overheated and too many property developers were speculating. After years of work, the real estate industry has improved to become a new powerhouse of economic development and expansion of consumption. The present listed real estate companies are mostly small in scale and weak in development. Apart from four big ones - Lujiazui, Shenzhen Bao'an and Shenzhen Wanke - the 33 other listed companies have assets averaging less than 1.9 billion yuan ($230 million) each and 820 million yuan in net assets, and face difficulties in operation. Allowing listing of real estate companies again is described as an adjustment to eliminate backward ones and support well-performing ones which have achieved high efficiency. (Asia Pulse/XIC) | |||||||||
 |
|
Front | China | Southeast Asia | Japan | Koreas | India/Pakistan | Central Asia/Russia | Oceania Business Briefs | Global Economy | Asian Crisis | Media/IT | Editorials | Letters | Search/Archive Travel Reservations to San Diego California |
back to the top ©1999 Asia Times Online Co., Ltd. |
