Sharing Apps Boost Bicycle Output, Startups: What China's Media is Saying

PROPERTY MARKETS in the biggest cities are beginning to cool, according to the Economic Information Daily. While official data Tuesday showed prices rose in more cities, the scale of increases in 15 key cities narrowed and prices will cool further this quarter, the newspaper reported, citing analysts. THE CONTEXT: Authorities have stepped up curbs in bigger cities since March to prevent a housing bubble, while seeking to clear a glut of unsold homes in smaller urban centers.

In Other Reports:

  • BIKE BOOM: The output of bicycles rose 17 percent in the first quarter as bike-sharing apps boosted demand, the official Economic Daily reports. Sidewalks in big cities are now thronged with yellow, orange and blue bicycles, with start-ups popping up including one valued at $1 billion.
  • ANTI-CORRUPTION: The People’s Daily splurged a full page on "building a leadership core," highlighting a survey showing 92.9 percent of people were satisfied with the Communist Party’s anti-corruption efforts. The party is comprehensively strengthening discipline, the article said, mentioning a recent propaganda documentary featuring wailing corrupt officials confessing their misdeeds.
  • GRADUATES: Some 7.95 million college students will graduate this year, about 300,000 more than the number last year, according to the official Xinhua News Agency. Provinces will encourage them to become officials in rural areas or start their own businesses to help relieve pressure on the labor market, according to the report.

— With assistance by Xiaoqing Pi

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