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Investment in real estate development -- covering all property types -- rose 21.7 percent to 126.8 billion yuan (US$20.5 billion) in the first six months of this year, a rise of 9 percentage points from the same period a year ago. CHEMICAL group BASF said it has completed three expansion projects for performance materials at its Pudong site in Shanghai to meet rising demand in China. "More than 60 percent of Chinas people will live in cities by 2020," Albert Heuser, BASFs country head in China, said today. "Supporting an environmentally friendly path for urbanization presents a huge opportunity for chemistry as an enabler for sustainable innovations in areas ranging from industrial manufacturing to construction, transportation and consumer goods." Among the three expansion projects, BASF more than doubled the capacity of its compounding facility for engineering plastics to more than 100,000 tons per year, making it the German companys biggest such compounding plant in Asia. The company estimates the Asia Pacific market for engineering plastics will grow 7 percent annually on average, driven by increasing usage in areas ranging from construction and high-speed railways to electrical and electronics. Heuser declined to say how much the company invested in the expansion projects. The Chinese government will ensure that any measures it takes in its efforts to control housing prices will not hurt the property market as an economic growth engine, Deloitte has predicted in its latest China Real Estate Investment Handbook. This is more so because the countrys economy is still on its way to recovery, the professional services firm added. "The government understands the importance of controlling prices in the property market due to its welfare nature. However, it still relies heavily on fixed investments, especially in the current economic slowdown," said Richard Ho, real estate managing partner at Deloitte China. "As the overall investment in the property market is likely to climb gently along with the recovery in sales this year, the regulators will keep a close watch on the industry and if prices rise sharply, more restrictive macro measures will be put in place." While urbanization and economic growth will constantly drive the real estate market in China, developers will continue to face funding challenges as a result of their declining profitability and operating efficiencies, as well as the tightening of monetary policy in China since 2010, Deloitte said. Smaller property companies which have been struggling to survive will become acquisition targets for their larger peers and business trust will emerge as an alternative funding vehicle for Chinese developers, according to the handbook. OIL prices rose near US$84 a barrel yesterday as the dollar weakened and oil traders shrugged off weak job news and a bigger-than-expected build in crude inventories. <a href="http://www.cabas-sac.com/conn.asp?giuseppe-zanotti-sneakers/" / rel="nofollow">giuseppe zanotti sneakers</a> The IPO plan, subject to securities regulatory approval, comes amid a government push for cleaner energy to cut reliance on coal and curb pollution. China is building 29 nuclear reactors, the most in the world, the World Nuclear Association said.