June Sales Improve for Top 100 Developers
Sales by China’s top 100 real estate developers reached nearly 1.6 trillion yuan ($236 billion) in the first half of the year, with the pace of decline narrowing for four consecutive months, according to China Index Academy Ltd.
After returning to month-on-month growth in May, sales for the top 100 developers rose 11.8% in June from the previous month.
The real estate market is still in a bottoming phase, with sales improvements mainly concentrated in core cities and premium projects, indicating ongoing industry divergence.
Chipmakers Rush to Secure Hydrofluoric Acid
TSMC, Samsung Electronics and SK Hynix are stepping up procurement of electronic-grade hydrofluoric acid.
The price of high-purity electronic-grade hydrofluoric acid, a core material for cleaning and etching semiconductor wafers, has surged about 40% this year, driven by rising production costs due to Middle East geopolitical tensions and increased demand from the expansion of AI chip manufacturing.
U.S. Targets “Birth Tourism”
The U.S. Justice Department is calling for a strict crackdown on “birth tourism,” pledging to investigate and prosecute those who fraudulently exploit the U.S. immigration system.
Individuals who use pretexts to travel to the U.S. to give birth and secure American citizenship for their children may face charges including visa fraud, money laundering, identity theft and wire fraud.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
