Check on China: China Housing & Land Development, Inc.

The U.S. housing crisis has caused a global ripple effect that has reached
China's shores. A national credit crunch, plunging housing prices and unheard of drops in home sales is cooling some vital markets in the red-hot Chinese real estate
sector, proving that there are few places left untouched by the real estate
meltdown.
 
The real estate industry is a key driver of economic growth in China, and
although official figures for the first four months of this year show a 32%
rise in property investment compared to the same period last year (and a 10%
increase in the median property prices in 70 Chinese cities in April from a
year earlier), a recent slowdown is causing nervous jitters to spread across
the country.
 
In prosperous cities like Beijing, Shanghai and Hangzhou, which have
experienced a real estate boom over the past few years, property price
corrections are expected later this year. Prices are already falling in
southern China's Pearl River Delta, particularly in Shenzhen, a boomtown near
Hong Kong.
 
But while many Chinese cities are bracing for the worst, Xian, the capital
of Shaanxi Province, is looking toward to the future, which is good news for China Housing & Land Development, Inc. (Nasdaq:CHLN).

The largest private developer of residential and commercial property in
northwestern China, China Housing and Land Development is engaged in the
purchase, development, management and sales of medium-sized real estate
projects in Xian. The company is currently developing several combined-use
complexes that consist of residential apartment communities and office . . .

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