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China Housing Price Drops
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The house prices in China have fallen in a record number of cities in April. In addition, the car dealers announced about huge volume of inventories, causing the price decline for motor vehicles. These factors signalize the growth slackening of the world�s second biggest economy.


Thus, in April the new houses cost fell compared to the last year in 46 of 70 metropolises. Aside from that, such dealing centers as Honda Motor Co., Chery Automobile Co., BYD Co. � Geely Automobile Holdings Ltd. reported about 45-day reserves in their warehouses by the end of last month.


The autodealers marked down the price this year in order to stimulate the sales after the Chinese Government had cancelled the tax relieves introduced in 2009 with a purpose of easing influence of the global financial downturn.


At the same time, Goldman Sachs has cut its GDP forecast for China


the second quarter in a row to 7.9% from 8.5%, and for the rest of the year as well - to 8.1% from 8.6%, after a worse report on GDP growth than expected had been published - at 8.1% coming short of 8.3% forecast.


Meantime, the National Information Center of the country warns that economic pace may lose 7.5% in the current quarter.

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