- CNTV English - CCTV News

Vanke cuts house prices in Shenzhen

06-25-2010 14:02 BJT

Vanke, China's leading house developer, is promoting sales by cutting prices in Shenzhen. Salespeople for a Vanke home project in Shenzhen say they are offering a 20 percent discount for buyers.

Earlier this month, Vanke denied a media report saying it was going to cut prices nationwide in June. Experts say the industry leader's move might create a ripple effect.

Gao Haiyan, Researcher of Shenzhen Academy of Social Sciences said "No matter what promotional strategy a company adopts, it will create a domino effect. Other developers will follow the example and price will go down."

Editor:Xiong Qu |Source:

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program