The housing market in Shanghai appears buoyant as new policies enhance house buyers' confidence.
In late September, major Chinese cities, including Beijing, Shanghai, Guangzhou and Shenzhen, introduced a wave of real estate policy adjustments aimed at revitalizing the property market.
In Shanghai's Pudong New District, visitors have flocked to property sales centers for consultations. The number of property inspections and transactions has noticeably increased since the new policies took effect, with each salesperson receiving six batches of visitors per day, according to a marketing manager.
"The number of visits per day is about 100 groups, a 20 percent increase since the introduction of the new policies. In the first day of National Day holiday, we sold 10 properties, which is around 25 percent higher than before," said Lu Yingying, sales director of a real estate project.
In addition to the new policies, some real estate projects have also introduced activities to further stimulate this trend.
"Among the buyers purchasing properties during the National Day holiday, about 60 to 70 percent were follow-up visitors, while new visitors accounted for around 20 to 30 percent," said Zhang Xiaoxue, another sales director of a real estate project.
According to statistics from an online real estate platform, the volume of first-hand home transactions during the holiday reached 577 in the first six days of the National Day holiday, which runs from Oct. 1 to 7.
The transaction volume of the second-hand housing market has also increased significantly, with more visitors seeking information since the introduction of the new policies.
"The volume of consultations has greatly increased after the new policies were implemented. Each salesperson is now leading three to five groups of potential buyers every day," said Li Wenbin, manager at a property agency.
Statistics from the same online real estate platform indicate that in the first six days of the National Day holiday, a total of 1,537 sets of second-hand homes were transacted in Shanghai, marking a 4.9-fold year-on-year increase.
Shanghai's housing market buoyant as new policies take effect
Shanghai's housing market buoyant as new policies take effect
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
