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MNI China Press Digest Jan 29: Property, CSRC, Thailand

MNI (BEIJING)
BEIJING (MNI)

MNI picks key stories from today's China press

Policy NewsHomepageAPACChinaPolicy StoryStoryRegion
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Highlights from Chinese press reports on Monday:

  • Guangzhou city, one of the top four cities in China, has fully relaxed home purchase limits for buyers with local residency. Properties with a floor area of more than 120 sqm are excluded from housing purchase restrictions, according to a notice from the city government on Saturday. For those without local residency, they still need to meet the threshold of providing two-year payment of social security in the city to buy a floor area of less than 120 sqm. Other first-tier cities may follow suit as local authorities attach greater importance to property market stability in the near term, but the downward pressure has not changed significantly since the beginning of 2024, said Li Yujia, chief research fellow at the Guangdong Urban & Rural Planning and Design Institute. (Source: 21st Century Business Herald)
  • The China Securities Regulatory Commission (CSRC) has suspended the lending of restricted stocks as it seeks to crack down on illegal activities using securities lending to reduce holdings and cash out. The measure, which takes effect Monday, will create a fairer market order and restrict the advantage of some institutions in the use of information and tools, the CSRC notice said. (Source: Yicai)
  • China signed a mutual visa exemption agreement with Thailand, causing a seven-fold increase in Thailand-related searches on C-trip the following day, according to Yicai. C-trip data shows Chinese passengers increased bookings to Singapore, Malaysia and Thailand 15 times y/y during this year's Spring Festival. Qin Jing, vice president at Ctrip Group, said under the new agreement, which takes effect March 1 and replaces the existing visa free agreement for Chinese passengers, China can attract Thai passengers seeking ice and snow tourism. (Source: Yicai)
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Highlights from Chinese press reports on Monday:

  • Guangzhou city, one of the top four cities in China, has fully relaxed home purchase limits for buyers with local residency. Properties with a floor area of more than 120 sqm are excluded from housing purchase restrictions, according to a notice from the city government on Saturday. For those without local residency, they still need to meet the threshold of providing two-year payment of social security in the city to buy a floor area of less than 120 sqm. Other first-tier cities may follow suit as local authorities attach greater importance to property market stability in the near term, but the downward pressure has not changed significantly since the beginning of 2024, said Li Yujia, chief research fellow at the Guangdong Urban & Rural Planning and Design Institute. (Source: 21st Century Business Herald)
  • The China Securities Regulatory Commission (CSRC) has suspended the lending of restricted stocks as it seeks to crack down on illegal activities using securities lending to reduce holdings and cash out. The measure, which takes effect Monday, will create a fairer market order and restrict the advantage of some institutions in the use of information and tools, the CSRC notice said. (Source: Yicai)
  • China signed a mutual visa exemption agreement with Thailand, causing a seven-fold increase in Thailand-related searches on C-trip the following day, according to Yicai. C-trip data shows Chinese passengers increased bookings to Singapore, Malaysia and Thailand 15 times y/y during this year's Spring Festival. Qin Jing, vice president at Ctrip Group, said under the new agreement, which takes effect March 1 and replaces the existing visa free agreement for Chinese passengers, China can attract Thai passengers seeking ice and snow tourism. (Source: Yicai)