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hina’s real estat上海楼凤品茶微信e market is expected to usher in a new period of adj
ustment during the second half of this year, Economic Information Daily reported.
Adhering to the policy that “houses are for living, not for speculation”, local governments have kept differentiated poli
cies based on local conditions, and made obvious achievement in tightening control of the real estate market.
The market saw pickup in March and April. However, it didn’t gather en
ough momentum and showed some signs of cooling down in May, Wang Yeqiang, a rese
archer with the Chinese Academy of Social Sciences, said in a signed article published by the newspaper.
Last month’s data also indicated the rebound is not stable, W
ang said, adding that the market is likely to enter a new period of adjustment.
This year, PetroChina’s Xinjiang Oilfield Company has been fully develop
ing the Jimsar shale oil field, which boasts 1 billion tons of shale oil reserves, Xinhua reported.
The company has mobilized 36 drilling rigs, started drilling on 47 wells and completed eight wells till now. The daily drille
d footage surpassed 2,000 meters and the total drilled footage reached 160,000 meters.
PetroChina has ramped up exploration efforts on Bohai Bay Basin, Songliao Basin, Ordo
s Basin and Junggar Basin in recent years and shale oil was listed as one of the four exploration goals. Dagang Oilfi
eld, Xinjiang Oilfield, Tuha Oilfield and Changqing Oilfield have been set as important demonstration zones.
Xinjiang Oilfield Company said it planned to mobilize 45 drilling rigs this year to finish drilling nearly 100 wells.