China Vanke has sold a plot of land once earmarked for its new headquarters in Shenzhen for 2.24 billion yuan (US$309 million), almost 30 per cent less than it paid in 2017, as the beleaguered property developer strives to pay down its mountain of debt.
Hong Kong markets extend gains after further moves to ease curbs in the property sector and on the back of a semiconductor investment fund.
The Chinese internet giant aims to expand the coverage of WeChat Pay in the Maldives to 8,000 merchants by the end of this year.
The C919, China’s home-grown commercial jet, has completed a year of passenger flights. Will it receive airworthiness certification from the Western countries currently sanctioning trade and tech in other fields?
The departure of AI experts from these Big Tech firms reflects increased investor interest in start-ups that could become the next OpenAI.
Hotels in mainland China will need to raise their performance and returns to succeed as real estate investment trusts, according to JLL. A 4 per cent annual return will be favoured by regulators and investors.
The third phase of the China Integrated Circuit Industry Investment Fund has 19 equity investors, led by the Ministry of Finance and the country’s major state-owned banks.
Mainland China’s commercial and financial hub will relax home purchase restrictions and grant subsidies to people buying new flats in a move designed to breathe life back into the city’s real estate sector.
The liquidators of China Evergrande reached an initial agreement on May 16 to sell a 29 per cent stake in Evergrande NEV to an unidentified buyer, according to an exchange statement.
Company jointly owned by China Merchants Group, Citic Capital and Fountainvest Partners has approached a number of potential buyers, sources say.
The English footballer will be featured in AliExpress commercials during the European Football Championship, which kicks off in mid-June.
Hong Kong stocks rally after data showed China’s industrial profits resumed growth in April.
Only 1 per cent of large-cap Hong Kong-listed firms in the MSCI AC Asia-Pacific IMI index have set greenhouse gas reduction targets considered ‘fully’ credible, less than the regional average.
The EV unit of embattled real estate developer China Evergrande said liquidators are in talks with a potential buyer who may also extend a new line of credit for production.
Dubai is shaping up to be a new favourite for buyers, thanks to a booming real estate market and fast-track residency scheme, agents say. It handed out 158,000 ‘golden visas’, dwarfing the 13,000 that Portugal has issued since 2012.
The largest US semiconductor equipment maker is being probed by authorities for sending gear to SMIC via South Korea without Washington’s approval.
The latest government measures are merely ‘a drop in the ocean’, and rebuilding homebuyers’ confidence in the presale system is a precondition for any revival, analysts say.
In Southeast Asia, Chinese EV builders from established giants like BYD and Great Wall to start-ups such as Hozon are offering discounts in a bid to take on Japanese rivals whose petrol cars dominate the market.
The lay-offs, which were announced internally earlier this week, are expected to affect TikTok’s operations and marketing departments.
The expansion has been driven by a stellar run in the bond market and a stabilisation in stocks, as investors shift to fund products.
Nvidia’s H20 chip is being sold in some cases at more than a 10 per cent discount in China, compared to Huawei’s Ascend 910B, sources said.