
China's property market recovery stalls as falling prices hit sentiment
Just days after Premier Li Qiang called for 'greater efforts' to halt a decline in China's housing market, fresh data on Monday laid out
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
China's Rare Earth Exports Slump in May as Magnet Sales Curbed
(Bloomberg) — China's exports of rare earth products — including powerful magnets now at the heart of tensions with the US — slumped to a fresh five-year low in May as Beijing's export curbs choked flows. Security Concerns Hit Some of the World's 'Most Livable Cities' How E-Scooters Conquered (Most of) Europe As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads The data for last month shows the extent to which export controls in place since early April had curbed shipments, before a US-China meeting to resolve the restrictions. A shortage of vital magnets has threatened industries including car making from the US to Europe and India. May's export volume of rare earth products fell by 61% from a year earlier to 2,117 tons, the lowest level since February 2020, according to calculations by Bloomberg News based on Chinese customs data. The products category — distinct from minerals and metals — is typically dominated by magnets. Exports had already fallen sharply in April. China produces about 90% of the world's so-called permanent rare earth magnets, and has used its grip on supplies to fight a burgeoning trade war with the US. Export controls launched on April 4 covered not just seven individual rare earths, but also magnets that contain even tiny amounts of them. Governments and companies in the US are watching how flows change in June. Following a meeting between American and Chinese negotiators in London earlier this month, US President Donald Trump said 'FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA.' Specific data on exports of magnets is due to be published by Chinese customs on Friday. In the first quarter of 2025, ahead of export curbs, magnets accounted for nearly 90% of the rare earth products group. Read more: The latest on Trump's tariffs Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Mark Cuban Has Done Sports, Reality TV and Now Health Care. Why Not US President? How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy


Bloomberg
26 minutes ago
- Bloomberg
A 200%-Plus Bond Rally Sours as Lebanon's Reform Story Stalls
Emerging-market bond investors' most profitable bet of the past year is now handing them double-digit losses — as Lebanon's stalled banking reforms sink its sovereign debt. The defaulted dollar bonds of the Lebanese government had returned 229% between late September and early March, beating 67 other countries in a Bloomberg index for the asset class. The gains were sparked by a breakthrough in the country's politics, with a functional government formed for the first time in more than two years and reform-friendly leaders appointed to key posts.
Yahoo
30 minutes ago
- Yahoo
JD.com Billionaire Unveils Turnaround Plan After Five-Year Slump
(Bloomberg) -- Inc. founder Richard Liu vowed to speed an overseas foray and compete with Meituan in new arenas from food delivery to travel, describing his boldest attempt yet to revive an online retailer that's languished since a 2020 government crackdown. Security Concerns Hit Some of the World's 'Most Livable Cities' How E-Scooters Conquered (Most of) Europe As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads The past half-decade was the darkest period for his company, Liu said during a rare news conference at JD's Beijing headquarters Tuesday. The company lost its way, the 52-year-old tech mogul said, at a time when rivals like PDD Holdings Inc. surged ahead. JD's future growth should all be about leveraging a battle-tested logistics network in areas like meal delivery, where it's making headway despite initial losses, the founder said. 'For JD, it's a lost five years, to put it bluntly,' Liu said in comments published in Chinese media, which a company spokesperson later confirmed. 'No innovation, no growth, no progress. It should be considered the most unremarkable and least-valuable five years in my entrepreneurial history,' Liu told reporters on the eve of JD's signature June 18 shopping festival. In March, JD made an aggressive entry into China's $80 billion-plus food delivery market, a long-dormant arena controlled by Meituan and Alibaba Group Holding Ltd.'s Liu personally handed out takeouts to customers during a publicity stunt, gave away 10 billion yuan ($1.4 billion) in user subsidies, and promised above-industry benefits for his army of 100,000 delivery riders. His offensive has forced the two rivals to step up discounts and coupons in a similar fashion, a renewed price battle that quickly caught the attention of regulators. About 40% of JD's new food-delivery users have since converted into e-commerce customers, Liu said. Despite the frenzy, Liu says JD has always played the long game of investing in supply chain and branded products. It plans to roll out its e-commerce platform in Europe in 2026, after three years of building infrastructure there. On its home turf, the company will challenge Meituan in another key market — hotel and flight bookings — offering a three-year membership program that waives commissions for hotels. Meituan founder Wang Xing was among the guests at a recent dinner Liu hosted for tech founders, the JD chief said. 'I told him straight up, 'bro, we're making a move into food delivery.'' During Tuesday's briefing, Liu portrayed China's largest online retailer by revenue as the anti-PDD — one that focuses on high-quality products and disdains the model of cross-border shipping that underpinned the success of PDD's bargain app Temu. Liu has been vocal of late. The billionaire faded from the spotlight around 2018, when he was arrested in the US on suspicion of rape, though prosecutors ultimately declined to press charges. During Beijing's crackdown on the tech sector in 2022, he joined a long list of tech founders who stepped down as chief executive officer. CEO Sandy Xu — who previously served as the company's finance head — will eventually take full leadership of JD's domestic business, Liu said, which will free him up to steer an international expansion. --With assistance from Luz Ding. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Mark Cuban Has Done Sports, Reality TV and Now Health Care. Why Not US President? How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software ©2025 Bloomberg L.P.