Bloomberg (June 13)
“China’s skyscraper age is over,” but not everyone realizes this. China currently boasts “46 percent of the 500-foot-plus buildings under construction in the world,” but things are changing. Standing at over 2,000 feet, Shanghai Tower provides a stark reminder. Though it “is the world’s second-tallest building…only 60 percent of Shanghai Tower is rented out, and only a third of current tenants have actually occupied their leased space.”
Tags: Buildings, China, Construction, Leased, Rented, Shanghai Tower, Skyscraper, Tenants
Reuters (September 1)
“Activity in China’s manufacturing sector unexpectedly expanded at its fastest pace in nearly two years in August as construction boomed, suggesting the economy is steadying in response to stronger government spending.” The strong performance “may reinforce growing views that China’s central bank will be in no hurry to cut interest rates or banks’ reserve requirements, for fear of adding to high debt levels or fuelling asset bubbles.”
Tags: Asset bubbles, Boom, China, Construction, Debt, Economy, Government, Interest rates, Manufacturing, Pace, Reserves, Spending, Steadying
The Economist (June 14)
In China, golf is “a barometer of change.” Banned under Mao Zedong, Deng Xiaoping allowed a few golf courses for foreign investors. Then, with rising affluence, “more locals wanted to try the sport. Suddenly more golf courses were being built in China than anywhere else, despite the fact that their construction was technically illegal.”
Tags: Affluence, Barometer, Change, China, Construction, Deng Xiaoping, Golf, Golf courses, Illegal, Investors, Mao Zedong, Sport
