The Chinese real estate industry is set to receive a much-needed boost which may include an easing of restrictions on the purchase of second homes, the expansion of funding channels for developers and a further cut in the taxes and fees associated with property purchase in China.

In the midst of a crumbling economy, The People’s Bank of China has slashed interest rates by more than one per cent – the largest rate cut in 11 years..

If you like the high life, you may be interested to hear that construction has started on what will be China’s tallest building, Shanghai Tower and one of the ten tallest buildings in the world…

The World Tourism Organization recently conducted a study which projected that China would become the one of the largest markets for tourism within the next seven years. The total revenue from tourism in China last year was well over $150 billion.

When you consider that the Chinese tropical hotspots of Hainan and Yunnan attracted some 18 million tourist visitors last year, yet only 750,000 were from foreign lands, the problem starts to become a little clearer. While China has so much to offer and is investing billions of dollars into its infrastructure, improving transport networks and massive advertising campaigns, the visitors to chinese beach resorts are just not appearing but why?

Shanghai’s government is reportedly attempting to open the domestic property market up to locals by introducing new legislation which would see a ban on purchases by all foreigners and non-permanent Chinese citizens in the city.

Photo courtesy of ixfd64 

Hong Kong has been rated as the most economically friendly country in the world by the The Heritage Council released its 14th annual 2008 Index of Economic Freedom last week and it certainly makes for some interesting reading. The index takes 162 countries and compares them, examining 10 different economic policies including business, trade, fiscal, monetary, investment, financial and labour freedoms together the country’s property rights, the size of the country’s government and the freedom from corruption that a country enjoys.

As property watchers the world over have their eyes glued to the US sub-prime rollercoaster, it seems that another big player is about to fall foul of overenthusiastic property speculation and dodgy lending habits. Faced with rampant inflation, skyrocketing property values, no-deposit loans and 400% stock market growth in 2 years, in order to tame the fiery Chinese property market, the government is pulling on every Communist brake it can find in order to enforce some discipline on its increasingly capitalist economy, which is seeing property values drop and vacancies of up to 40% in some new developments.

Photo courtesy of Xiaming

From its unique cuisine to its incredible sights, China has appealed to Westerners for centuries.  This country has stolen the heart of many an adventurer and now it is winning the confidence of property investors.  Indeed, China property investment is a very appealing prospect for many.

The sale of tickets for the 2008 Beijing Summer Olympics which went on sale today seems to have been sidelined somewhat by the furore which has been unleashed upon the London 2012 Olympic Organisers who are in the midst of a publicity nightmare. The official logo of London 2012 Summer Olympic Games was released to the public but has been nationally ridiculed as being amateur and branded everything from graffiti at a local bus stop, a multicoloured swastika to an eighties disco sign.