PM Jiabao expected to lower economic growth target

Source: Bloomberg
Chinese PM Wen Jiabao is likely to reduce the country's expansion target below 8% in his report next month, claim majority of economists questioned by Bloomberg. Financial uncertainty, curbing pollution and inequality are seen as main decelerators of economic growth. PM Jiabao may announce economic expansion target rate of 7.5%, predict analysts. Chinese stocks mostly declined on the news. 
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Thu, 23 Feb 2012 07:33:32 GMT

Shanghai will stick to property curbs

Shanghai will maintain its property curbs despite Chinese government's decision to ease borrowing restrictions to allow more people to purchase second homes. Local government of Shanghai is not planning to ease home buying restrictions, confirmed Liu Haisheng, the head of Shanghai housing authority. 

Thu, 23 Feb 2012 06:53:04 GMT

Existing home sales in US climbed 4.3% in January

The sales of existing US house sales advanced 4.3% in January supported by improving economy, warm weather and lower prices. Sales were up in all four main regions, reaching annual rate of 4.57 million homes. Economists questioned by Marketwatch earlier predicted an increase to 4.7 million. 

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