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Kunming sets GDP growth record in first half of 2010

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Kunming set a new record for year-on-year gross domestic product (GDP) growth in the first half of this year, continuing the strong economic growth it has experienced over the past decade.

From January through June of this year, total GDP was 91.1 billion yuan (US$13.4 billion), an increase of 15.4 percent over the first half of 2009, according to a Kunming Information Hub report.

Fixed asset investment in Kunming in the first half of this year reached 76.4 billion yuan, a jump of 36 percent year-on-year. Kunming's High and New Technology Industry Development Zone was the biggest recipient of fixed asset investment, followed by Guandu District, Jinning County and Songming County.

The Dianchi holiday district, Anning, Shilin County and Fumin County were also on the receiving end of substantial fixed asset investment.

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Thanks for this article. I'm always interested in the Kunming economy. I've been trying to follow the Kunming residential real estate market in particular. Recently, I heard that the Chinese government regulations to prevent housing bubbles had hit Kunming hard. Anyone know about this? Does that mean that apartment selling prices are down from say, a year ago? Or are prices stable but transactions down? Any info would be greatly appreciated as I can't seem to find anything via googling (outside china right now) but headed back that way soon.

Presently housing developments are way overvalued.

The results from constrution companies bidding to get a certain plot of land and the increased cost passed on to the consumer/ end buyer/ leasee.
The increase in housing cost is not a result of demand however the investors and speculators blindly dive in.

what will happen when the trend starts downward??? the speculators get out (cash in) untill the trend goes up again

It's a clasic bubble.

In my opinion the ongoing / deepening western crisis will be the trigger, when the sovereign debts cant be repaid ( Greece ) the lenders holdings will be devalued.

the only way china can get away from it is time, presently china is amassing vast amounts of gold....the next world currency this will be the buffer to devaluation.

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