论文部分内容阅读
The Chinese yuan hit a record high against the U.S. dollar on December 31， 2013.
The yuan strengthened 55 basis points to reach 6.0969 per U.S. dollar， the strongest since July 2005， when the country launched the reform of the exchange rate mechanism， according to the China Foreign Exchange Trading System.
The value of the yuan has risen nearly 3 percent against the U.S. dollar since the start of 2013.
In China’s foreign exchange spot market， the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of each market each business day.
Land Transfers Booming
In 2013， the property market propelled Beijing’s land transfer fees to a record high of 182.18 billion yuan （$30 billion）， 2.8 times more than in 2012.
The fees for the whole year were roughly equivalent to the city’s public fiscal revenue for the first half of 2013.
Land prices soared as real estate developers flocked into top-tier cities to compete in developing land， and they remained bullish on the prospects of first-tier cities while bearish on the growth potential of third and fourth-tier cities.
Shanghai’s land sales topped the value stakes with 218.6 billion yuan （$36.13 billion） for 2013， 126 percent higher than in 2012.
The combined value of land sales for four first-tier cities， Beijing， Shanghai， Guangzhou and Shenzhen， hit 512.7 billion yuan （$84.7 billion）， up 150 percent from the year before.
The yuan strengthened 55 basis points to reach 6.0969 per U.S. dollar， the strongest since July 2005， when the country launched the reform of the exchange rate mechanism， according to the China Foreign Exchange Trading System.
The value of the yuan has risen nearly 3 percent against the U.S. dollar since the start of 2013.
In China’s foreign exchange spot market， the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of each market each business day.
Land Transfers Booming
In 2013， the property market propelled Beijing’s land transfer fees to a record high of 182.18 billion yuan （$30 billion）， 2.8 times more than in 2012.
The fees for the whole year were roughly equivalent to the city’s public fiscal revenue for the first half of 2013.
Land prices soared as real estate developers flocked into top-tier cities to compete in developing land， and they remained bullish on the prospects of first-tier cities while bearish on the growth potential of third and fourth-tier cities.
Shanghai’s land sales topped the value stakes with 218.6 billion yuan （$36.13 billion） for 2013， 126 percent higher than in 2012.
The combined value of land sales for four first-tier cities， Beijing， Shanghai， Guangzhou and Shenzhen， hit 512.7 billion yuan （$84.7 billion）， up 150 percent from the year before.