By allowing local governments and state-owned enterprises to buy unsold land and housing from distressed developers, China is betting a property slump weighing down the economy can be stopped once and for all.
Hong Kong stocks at 10-month highs after China’s property support measures cheer investors.
The financial services secretary, Christopher Hui Ching-yu, has denied media reports that a major stock market reform that would see trading continue as normal during typhoons and torrential rains has been postponed.
China’s leading EV makers are taking longer to settle payments with suppliers, indicating stress in the industry because of slowing sales and mounting discounts.
Scammers have published another fictitious article with the appearance of a South China Morning Post story in a bid to promote an online financial trading tool.
Mainland online retailers JD.com and Alibaba’s Tmall on Monday started offering deeper discounts on iPhone 15 models.
Artificial intelligence could improve organisations’ productivity by up to 47 per cent, but 76 per cent of employers say they lack the knowledge to implement AI training, says study from Amazon Web Services.
UK secretary of state for science and technology said it will broker agreements at this week’s AI safety summit.
Gotion’s G-Current lithium-ion-phosphate battery offers a driving range of nearly 500km in under 10 minutes of charging. Deliveries are expected to start in 20025 when a new plant is ready.
Hong Kong residents fill their shopping trolleys and tummies in Shenzhen while Singaporeans hop across to Johor Bahru as they make the most of cheaper prices, denting the stability of their retail sectors.
Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year, banker says.
Licensing of Xpeng’s technologies will allow the EV maker to further its research and development efforts and maintain its technological edge, vice-chairman and president Brian Gu says.
After demand for masks slumped, Innotier diversified into making products aimed at customers concerned about hygiene in the post-Covid-19 era, founder Juliana Lam says.
Recovery in China’s luxury home market is gaining pace, while recent measures by the government could help turn around the fortunes of the property industry.
Mainland China will become the largest single market for Mirxes’ core product, a stomach cancer detection kit that was key to the company’s development, according to Zhou Lihan, its CEO and co-founder.
Chinese local government entities have carried the mantle of cornerstone investors in first-time stock offerings in Hong Kong in the past two years as foreign investors shun deals. Their outsize role could work against the city’s capital market, market experts say.
CSRC’s new chief Wu Qing has sought to improve corporate governance and close deep valuation discounts in a bid to revive investors’ faith in China’s US$9 trillion stock market and these bold moves have met with some early success.
Alibaba scales back an ambitious business overhaul plan and bids farewell to a turbulent year, as its founders call on employees to embrace changes.
Even in the absence of the buying restrictions, a healthy supply and elevated interest rates mean the city’s infamously expensive house prices are unlikely to return to the kind of breakneck growth seen in the past, analysts say.