Wen Jiabao News
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China’s new home prices jumped in April by the most since December, defying the government’s tightened property curbs, according to SouFun Holdings Ltd.
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North American mills are sawing lumber at the fastest pace in six years after a recovering U.S. housing market, a beetle infestation in Canada and increasing Chinese demand drove the biggest price surge in two decades.
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If global economists are distraught over the gloomy numbers coming out of China, imagine how Xi Jinping must feel.
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China sent thousands of military personnel, rescue teams and utility workers into the southwestern province of Sichuan where the country’s strongest earthquake in three years left 1.5 million people needing aid.
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Hu Huaibang, the former head of Bank of Communications Co., has been appointed Communist Party secretary of China Development Bank Corp., according to the CDB’s website today.
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China’s Premier Li Keqiang flew to the southwestern province of Sichuan to oversee relief work as the death toll from yesterday’s earthquake climbed to 179 and officials struggled to help 1.5 million people affected by it.
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China’s property rebound gathered pace in March as new home prices in the southern city of Guangzhou jumped the most in more than two years, underscoring concerns that a bubble may be building.
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All real estate markets are local, says the industry axiom, one that China’s central government is painfully aware of as its efforts to rein in home prices are undermined by uncooperative municipal authorities.
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China’s home sales rose 69 percent in the first quarter as buyers rushed into the market before local governments implemented property curbs.
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Asian stocks rose, with the regional benchmark index capping the biggest weekly gain in seven months, as the yen traded near 100 per dollar and slower- than-estimated inflation in China eased concern about monetary- policy tightening.
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