Briefly

Major cities report falling home prices

Major Chinese cities recorded falling home prices in August. The National Bureau of Statistics said China's large and medium-sized cities saw month-on-month declines in both new and pre-owned home prices. In the country's first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, new home prices edged down by 0.3 percent, narrowing from a 0.5-percent drop in the previous month. Second and third-tier cities registered declines of 0.7 percent and 0.8 percent, respectively.

More foreign firms established

A total of 36,968 new foreign-invested firms were established across China in the first eight months of 2024, marking an increase of 11.5 percent year-on-year, the Ministry of Commerce has said. During the period, foreign direct investment in the Chinese mainland totaled 580.2 billion yuan ($81.7 billion), down 31.5 percent from a year earlier.

Xinhua - China Daily