https://www.scmp.com/rss/524777/feed The latest news and top stories on Baonuo. A Shanghai-based entity in the real estate sector, Baonuo specialises in residential property sales and provides market insights. It primarily serves individuals and developers in the Shanghai market and is known for offering perspectives on the market’s long-term sustainability. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren China’s more than 100,000 home furnishing companies - most of which are micro businesses - have entered a tumultuous phase as a property slump and persistent deflationary pressure prevent them from making profits. With no property resurgence in sight, the industry, which employs millions of labourers across the country, was likely to see thousands of players expelled from the highly competitive market this year, according to company officials and analysts. “Involution is the name of the game in... https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed Wed, 18 Feb 2026 02:00:09 +0000 Cao Li Cao Li For homeowners in mainland China, selling a property has become so difficult that some are turning to xuanxue, a neo-Taoist philosophy that has morphed into internet slang for any superstitious ritual meant to enhance luck, from feng shui tweaks to cyber talismans. Praying in temples, buying ‘quick-sale’ talismans, or simply writing the word “sold” on a piece of red paper are just a few examples. When a homeowner in Shanghai recently claimed on social media that she found a buyer after praying... https://www.scmp.com/business/china-business/article/3333723/homes-fail-sell-mainland-chinas-depressed-market-sellers-turn-superstition?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333723/homes-fail-sell-mainland-chinas-depressed-market-sellers-turn-superstition?utm_source=rss_feed Sun, 23 Nov 2025 03:00:08 +0000 Daniel Ren Daniel Ren The luxury home market in Shanghai, China’s commercial and financial hub, has displayed some signs of fatigue as owners of some flats had to roll out price cuts of more than 30 per cent to woo buyers. A correction, following nearly two years of growth, was a warning to wealthy local investors who believed that homes worth at least 30 million yuan (US$4.2 million) would always be good buys. “The luxury housing segment, particularly lived-in homes, should have run out of steam because some buyers... https://www.scmp.com/business/companies/article/3325417/shanghai-luxury-home-market-shows-signs-losing-steam-price-cuts-fail-woo-buyers?utm_source=rss_feed https://www.scmp.com/business/companies/article/3325417/shanghai-luxury-home-market-shows-signs-losing-steam-price-cuts-fail-woo-buyers?utm_source=rss_feed Sun, 14 Sep 2025 04:00:19 +0000 Daniel Ren Daniel Ren Housing transactions in Shanghai ticked up after local authorities relaxed home purchase restrictions and lowered mortgage rates to underpin the stagnant property market. But the buying spree may be short-lived due to mounting worries about the economy and job prospects. “The stimulus policies have effectively inspired some buyers with strong demand to make their purchase decisions,” said Song Yulin, a senior manager with property agency Lianjia in Shanghai. “But it is still a buyer’s market... https://www.scmp.com/business/china-business/article/3324586/shanghai-home-sales-shoot-new-incentives-sustainable-recovery-not-sight?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324586/shanghai-home-sales-shoot-new-incentives-sustainable-recovery-not-sight?utm_source=rss_feed Sun, 07 Sep 2025 04:00:19 +0000