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BEIJING， Aug. 8 (Xinhua) -- China's housing demand will remain relatively resilient up to 2030 while short-term market volatility will persist， global ratings agency Fitch said Monday.


China needs to build 800 million square meters of residential property space -- about the size of Singapore -- every year between 2016 and 2030 to meet demand， according to a report released by Fitch.


During this period， new housing supply is predicted to average around 750 million square meters per year， down 25 percent from the agency's previous estimates， while new home sales are seen to track similar levels.


Though the volume of new homes to be sold and completed in the country will fall， the magnitude of the decline is likely to be modest on an annualized basis， the report said.


China's housing market had cooled for more than a year before starting to recover in the second half of 2015， boosted by government support， which included interest rate cuts and lower deposit requirements.


The sector's recovery， however， has been uneven from city to city， with economically-strong areas reporting drastic price rises， and less developed areas still reporting huge inventories of unsold houses.


LOS ANGELES’ mayor declared Tuesday “La La Land” Day as acrobats suspended by ropes danced their way across the outside walls of City Hall to the tune of the film’s jubilant opening number “Another Day of Sun.”


Mayor Eric Garcetti proclaimed the honor for the musical that claimed six Academy Awards in February and put a spotlight on various locales throughout the city with elaborate song-and-dance numbers. Garcetti played the piano while a jazz ensemble performed several songs from the film cheap nike air force 270 purple , including “City of Stars.”


“This film held a mirror up to our city — showing the world our passion, our creativity, our optimism, and of course cheap nike air force 270 red womens , the deep-seated desire of every Angeleno to jump out of their car in traffic and to just start dancing,” Garcetti said.


Garcetti honored the film’s Oscar-winning director, Damien Chazelle, its composer Justin Hurwitz and producers of the film about a young couple struggling to achieve their dreams in Los Angeles. The elaborate event coincided with the release of “La La Land” on DVD and Blu-ray.


“It’s very flattering for the city to embrace the movie like this cheap nike air force 270 red mens ,” Hurwitz said. “Because we were obviously embracing the city by making this movie. So to have it go the other way is very cool.”


The film received a record-tying 14 Oscar nominations and was briefly announced as the best picture winner before the actual winner, “Moonlight,” was correctly announced.


The “La La Land” festivities extended to Long Beach, where the Blind Donkey bar was getting a full-size “Seb’s” neon sign and featuring live music and themed drinks from the movie. It was the filming location for the jazz club named after Ryan Gosling’s character in the movie. On Sunday cheap nike air force 270 red , prop vintage lamp posts from the film will be installed at Hermosa Beach Pier, where Gosling danced and sang “City of Stars” in the film.

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