Latest news with #Weihai
South China Morning Post
11 hours ago
- Business
- South China Morning Post
China's rolls out official ‘property supermarkets' to support creaking housing market
With another decline in housing prices in May and sentiment among buyers remaining subdued, Chinese authorities are rolling out 'property supermarkets', which are online or offline hubs where consumers can view homes. Chengdu last week became the latest city to launch a homebuying platform in an effort to make homebuying more transparent and efficient. The capital of southwestern China's Sichuan province partnered with nearly 30 state-owned and private developers to feature more than 50 projects on a mobile app that allows users to contact developers and track sales. Such platforms are part of a broader push to revive China's flagging property sector. Similar initiatives have been rolled out in cities like Suzhou in China's eastern Jiangsu province, where second-hand listings were included on the apps and physical storefronts were set up to attract buyers. The eastern province of Shandong urged wider adoption of such supermarkets in February, and the city of Weihai unveiled its version last week, with a local bank leading the efforts, bypassing property agents. 'While not a completely new concept, more local governments are accelerating the launch of property supermarkets to better align housing supply and demand,' said Yan Yuejin, vice-president of consultancy E-House China Real Estate Research Institute in Shanghai. 'The main advantage of these centrally managed platforms lies in their trustworthiness and authority, as listings are vetted by local governments to minimise false promotions and reduce the risks of information asymmetry.' The characteristics of the housing supermarkets vary by region. In some cases, only residents holding a housing voucher – a policy tool that provides subsidies to those relocated under urban redevelopment initiatives – are allowed access. There is no centralised data on how many units have been sold through this method. The model could help improve transaction efficiency by consolidating information that was previously scattered across unofficial platforms and by bundling services such as mortgage applications, tax support and property registration, Yan said.
National Post
6 days ago
- Politics
- National Post
Chris Selley: Why would B.C. pay more for ferries just to spite Donald Trump?
British Columbia's transportation minister claimed Friday that buying new ferries from European shipyards would have cost roughly $1.2 billion more than buying them from a Chinese government-owned shipyard in Weihai, Shandong province, which is a city roughly the size of Montreal that I had never heard of until this week. China knows how to build cities. They burst into existence from nothing, like popcorn. China also knows how to build ships, and highways, and high-speed rail, and just about anything else you would care to name, better and more efficiently than the Canadian public service can realistically comprehend. Article content Article content The four ships B.C. Ferries is fixing to replace, of 1960s and 1970s vintage, were built at Seaspan in North Vancouver (which is an active shipyard), at the Victoria Machinery Depot (which is no longer an active shipyard), and at the Burrard Dry Dock (which is also defunct). Canada's shipyards, for better or worse — certainly for expensive! — are very busy building things for the navy. Article content Article content Article content B.C. Ferries has plenty of experience with foreign-built vessels. Its current fleet includes ships built in Romania, Poland, Germany and Greece. Other than the Baynes Sound cable ferry on Vancouver Island — which is not especially popular — the Crown corporation's newest Canadian-built boat went into service in 1997. So 'foreign' obviously isn't the problem. Article content But China is China, and that's legitimately another thing. China is not a Canadian ally. They try to screw with our democracy, and most other democracies by the sounds of it. And right now we are in a profoundly protectionist moment: Across the political spectrum, mostly because of President Donald Trump, 'buy Canadian' is the only philosophy really on offer. Article content Article content But does that make sense? We should pay over the odds for ferries … because of Trump? There wasn't half of all this foofaraw when Marine Atlantic on the East Coast bought its newest ferry from Weihai. Since last year it has safely been shepherding Canadians between Nova Scotia and Newfoundland, without a whisper of controversy in the Rest of Canada. Article content Article content But this is 2025. So on Tuesday during question period in Ottawa, Conservative MP Jeff Kibble assailed the government for allowing this purchase go forward, as opposed to handing the contract to a 'proven Canadian shipbuilder such as Seaspan.'
Yahoo
08-06-2025
- Business
- Yahoo
Xinhua Silk Road: China Weihai, S. Korea Incheon building up momentum to bolster local cooperation
BEIJING, June 8, 2025 /PRNewswire/ -- As east China's Shandong Weihai and Incheon of South Korea embrace the 10th anniversary of building the local economic cooperation demonstration zone under the framework of China-South Korea Free Trade Agreement, the two sides have set new model for local cooperation between the two countries. Over the past decade, Weihai has forged new pathways for cooperation in areas such as mechanism building, trade, cultural exchanges and investment, with both sides engaging in comprehensive cooperation and achieving mutual benefits. For mechanism building, Weihai has established the China-South Korea Free Trade Area local economic cooperation coordination office and promotion center and issued documents to guide and promote the construction of the demonstration zone. Weihai and Incheon jointly set up the local economic cooperation joint committee, which has facilitated over a hundred of cooperation consensuses. For cultural exchanges, the two cities have established representative offices and promotion halls to boost understanding and interactions. The China Office of the Incheon Tourism Organization was established last October, creating a more efficient platform for Weihai and South Korea in tourism cooperation, products promotion, and resource sharing. In terms of economic and trade cooperation, Weihai has advanced innovative measures such as the Weihai-Incheon four ports logistics integration and the multimodal transport which have established a "golden channel" that spurred vigorous trade development. Trade between Weihai and South Korea increased 67.8 percent from 32.09 billion yuan in 2014 to 53.86 billion yuan in 2024, accounting for 26.4 percent of the city's total imports and exports. In 2024, the Weihai port's imports and exports with South Korea reached 154.07 billion yuan, ranking third in the country. Cross-border e-commerce has become a new driving force for Weihai's foreign trade development thanks to its unique geographical location and logistics advantages. The city's cross-border e-commerce retail exports to South Korea have ranked first in Shandong Province for seven consecutive years and ranked first in the country in 2024. In terms of investment, the number of South Korean-funded enterprises in Weihai increased by nearly 200 from 2014 to 2024, while the number of enterprises (or institutions) invested and established by Weihai in South Korea increased from 15 in 2014 to 62 in 2024 with contracted investment amount from the Chinese side doubling to reach 140 million U.S. dollars. Original link: View original content: SOURCE Xinhua Silk Road Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-06-2025
- Business
- Yahoo
Xinhua Silk Road: China Weihai, S. Korea Incheon building up momentum to bolster local cooperation
BEIJING, June 8, 2025 /PRNewswire/ -- As east China's Shandong Weihai and Incheon of South Korea embrace the 10th anniversary of building the local economic cooperation demonstration zone under the framework of China-South Korea Free Trade Agreement, the two sides have set new model for local cooperation between the two countries. Over the past decade, Weihai has forged new pathways for cooperation in areas such as mechanism building, trade, cultural exchanges and investment, with both sides engaging in comprehensive cooperation and achieving mutual benefits. For mechanism building, Weihai has established the China-South Korea Free Trade Area local economic cooperation coordination office and promotion center and issued documents to guide and promote the construction of the demonstration zone. Weihai and Incheon jointly set up the local economic cooperation joint committee, which has facilitated over a hundred of cooperation consensuses. For cultural exchanges, the two cities have established representative offices and promotion halls to boost understanding and interactions. The China Office of the Incheon Tourism Organization was established last October, creating a more efficient platform for Weihai and South Korea in tourism cooperation, products promotion, and resource sharing. In terms of economic and trade cooperation, Weihai has advanced innovative measures such as the Weihai-Incheon four ports logistics integration and the multimodal transport which have established a "golden channel" that spurred vigorous trade development. Trade between Weihai and South Korea increased 67.8 percent from 32.09 billion yuan in 2014 to 53.86 billion yuan in 2024, accounting for 26.4 percent of the city's total imports and exports. In 2024, the Weihai port's imports and exports with South Korea reached 154.07 billion yuan, ranking third in the country. Cross-border e-commerce has become a new driving force for Weihai's foreign trade development thanks to its unique geographical location and logistics advantages. The city's cross-border e-commerce retail exports to South Korea have ranked first in Shandong Province for seven consecutive years and ranked first in the country in 2024. In terms of investment, the number of South Korean-funded enterprises in Weihai increased by nearly 200 from 2014 to 2024, while the number of enterprises (or institutions) invested and established by Weihai in South Korea increased from 15 in 2014 to 62 in 2024 with contracted investment amount from the Chinese side doubling to reach 140 million U.S. dollars. Original link: View original content: SOURCE Xinhua Silk Road Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
