Yang Huiyan, a real estate scion, tops Forbes list of richest in China

The total net worth of members of the 2007 list more than tripled to $120 billion from $38 billion last year, reflecting China's rapid growth and a surging stock market that has almost tripled in value this year. The economy expanded 11.9 percent in the second quarter from a year earlier, the fastest pace in more than 12 years.

All 40 members of the list this year are billionaires, up from 15 last year, according to the magazine. The ranking of Huang Guangyu, the chairman of Gome Electrical Appliance, who was No. 1 last year, fell to No. 10, even as his wealth increased 56 percent to $3.6 billion.

Beijing real estate floats like a bubble on a bubble

Despite China's efforts to curb real estate speculation, housing prices continue to rise, encouraging even more construction and a frenzy of public stock offerings by big real estate companies. While the US endures a mortgage crisis, investors in Chinese real estate are celebrating and pushing the value of housing and housing shares to new heights. SOHO China's initial public offering on Monday raised nearly $US1.7 billion, or as much as Google raised in its 2004 public stock offering in the US.

China's Large Developers Poised for Long-Term Run

HONG KONG -- China's property prices keep plowing higher despite government efforts to check them. Their resilience suggests continuing opportunities for investors with an appetite for risk. In recent months, mainland Chinese officials have taken steps to curb speculation in the booming real-estate market and control the growth of an asset bubble that could threaten the wider economy. Last Thursday, authorities formally announced an increase in mortgage rates and down-payment requirements for those buying second homes. For second apartments and apartments for commercial use, mortgage-loan rates will rise to 1.1 times the benchmark one-year lending rate. Those buying second homes ...

New controls clamped on real estate market

SHANGHAI banks are now working out details on the latest state effort to rein in speculation in the real estate market - an increase in down payments and interest rates for people who hold more than one mortgage. The new rules also knock out refinancing of existing mortgages and raise interest on commercial loans. They follow a continuing runup in Shanghai property prices. Among the latest indicators of a hot market, the city's second-hand housing index surged 6.03 percent in August - the highest growth since 2004. The central bank issued a risk warning to commercial banks when Shanghai's August mortgages posted the highest growth since 2005.