Shanghai Real Estate market

Shanghai (Chinese: 上海; Pinyin: Shànghǎi; Shanghainese: /zɑ̃'he/; abbreviation: 沪; nickname: 申), situated on the banks of the Yangtze River Delta in East China, is the largest city of the People's Republic of China and the eighth largest in the world.[4] Widely regarded as the citadel of China's modern economy, the city also serves as one of the nation's most important cultural, commercial, financial, industrial and communications centers. Administratively, Shanghai is a municipality of the People's Republic of China that has province-level status. Shanghai is also one of the world's busiest ports, and became the largest cargo port in the world in 2005.
Originally a fishing town, Shanghai became China's most important city by the twentieth century and was the center of popular culture, intellectual discourse and political intrigue during the Republic of China era. After the communist takeover in 1949, Shanghai languished due to heavy central government taxation and cessation of foreign investment, and had many of its supposedly "bourgeois" elements purged. Following the central government's authorization of market-economic redevelopment of Shanghai in 1992, Shanghai has now surpassed early-starters Shenzhen and Guangzhou, and has since led China's economic growth. Some challenges remain for Shanghai at the beginning of the 21st century, as the city struggles to cope with increased worker migration, a huge wealth gap, and environmental degradation. Despite these challenges, Shanghai's skyscrapers and modern lifestyle are often seen as representing China's recent economic development.

Friday, January 18, 2008

Shipping prices rise, business dips

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THE conflict between cargo owners and carriers over a price hike in shipping charges has resulted in a drop in the composite freight index for China's export containers, a local shipping spokesman said yesterday.

The index was reported at 1,168.39 points yesterday, a decrease of 1.4 per cent compared with last week.

"The constant price hike in the first half of the year has affected the market, leading to a fluctuating freight index," said Liu Xiaoliang, spokesman for the Shanghai Shipping Exchange.

Industry observers said the current container market is at a critical stage which will decide this year's shipping business.

"The business was OK from January until June, but whether it will be promising in the next several months remains to be seen," Liu said.

He said exports in the following months will be affected by more negative factors including:

?Shipping companies' concern over the continuous growth of the US economy;

?Asian countries will regain their export capacity challenging China's foreign trade.

The index of the services bound from China for Australia and New Zealand was reported at 735.25 points yesterday, up 1.7 per cent over last month.

China Shipping Company has announced it plans to add seven ships to services bound for Australia, each able to carry 1,000 20-foot containers.

COSCO will also add another container ship to its services bound for Australia from Shanghai this month.

Liu said 17 shipping companies which have services bound for Australia from Southeast Asia have announced they will charge an additional $150 on each 20-foot container from today. The price hike will last until December.

Shanghai Star

Posted by Unknown at 19:38