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China property

A Kaisa sign and flag seen with the national flag at a construction site in Shanghai in December 2021. Photo: Reuters

Kaisa shares surge as much as 42% as creditors support debt workout scheme

Investors holding more than 75 per cent of its defaulted debts have agreed to support its restructuring terms, filing shows.

Investors holding more than 75 per cent of its defaulted debts have agreed to support its restructuring terms, filing shows

17 Sep 2024 - 4:46PMvideocam

Explainer | Where now for China as economy loses momentum ‘across the board’?

17 Sep 2024 - 8:33AM

The View | Why it’s good news Asia’s property markets are more transparent

16 Sep 2024 - 4:30PMvideocam

PwC invests in ‘high quality’ business to survive in China after fine

PwC Zhong Tian was hit with a six-month suspension and a fine of 441 million yuan on Friday over the firm’s audit of failed property developer China Evergrande Group.

16 Sep 2024 - 4:07PM

A man walks by the audit firm PricewaterhouseCoopers (PWC) office, at the Fortune Financial Center in Beijing on August 27, 2024. Photo: AP.

Shanghai landlords throw in free desks, chairs to lease empty offices

‘Rental fees are going down, and competition is getting fiercer,’ as landlords fight to sustain occupancy rates, CBRE researcher says.

16 Sep 2024 - 12:14PM

Hotels in Japan, China, draw investors as travel fervour improves returns

Japan is the favourite investment target amid a surge in tourism, a weak yen and low interest rates.

15 Sep 2024 - 12:00PM

Can China’s mortgage rate cuts revive its faltering property market?

Worried about job cuts and a lack of high-yield investment options, homeowners are rushing to repay home loans and mortgages in advance.

15 Sep 2024 - 11:31AM

Residential buildings in Shanghai, China. Photo: Bloomberg

China’s August home prices slump by 5.7% as stimulus loses oomph

The smallest cities such as Yangzhou, Huizhou and Dali posted the biggest drops, with their losses widening from July and June.

14 Sep 2024 - 1:09PMvideocam

‘Time running out’ for China to meet growth target as August figures falter

As China’s August economic metrics largely disappointed, analysts said the window to meet its annual growth target is closing fast.

16 Sep 2024 - 12:15PMvideocam

Macroscope | China’s economy isn’t becoming Japanified, at least not yet

Despite fears China has entered have entered a ‘balance sheet recession’, the country has more tools than Japan to reflate its economy.

12 Sep 2024 - 4:30PMvideocam

A vendor tends to produce at a fresh food market in Shanghai, China, on August 7, 2023. Photo: Bloomberg

China probes Evergrande-linked wealth manager Hywin for illegal fundraising

Two suspects surnamed Han and Wang have been detained for illegal fundraising, Fengxian’s public security bureau said in a statement.

11 Sep 2024 - 9:40PMvideocam

China has the savings to deal with its property crisis, economist says

S&P Global Ratings global chief economist Paul Gruenwald says China is under no external or market pressure to deal with the property market.

11 Sep 2024 - 7:30PM

Evergrande founder’s ex-wife gets US$26,000 monthly expense amid asset freeze

Hui Ka-yan’s ex-wife Ding Yu Mei lives in a luxury apartment in London and has US$4 million in her UK bank account, according to court documents.

11 Sep 2024 - 4:22PMvideocam

Chinese developer Sino-Ocean gets 12-day reprieve on liquidation

Case adjourned until September 23 as developer says 75 per cent of loan creditors have agreed to its restructuring plan

11 Sep 2024 - 10:17AM

A table displays models of new apartments developed by Sino-Ocean Group in Qinhuangdao city, Hebei province, China, on June 30, 2024. Photo: Simon Song

China’s ultra-rich are snatching up luxury homes for a rainy day

Wealthy homebuyers see opportunity for flats that cost more than US$14,000 per square metre in prime downtown areas after recent market correction.

9 Sep 2024 - 8:30AM

Shanghai’s Xujiahui Commercial and shopping district pictured on September 5, 2020. Photo: Shutterstock

China must act to avoid crisis, former Japanese central banker warns

Former central bank governors have raised the alarm over deflation and slowdown, both of which were symptoms in Japan’s ‘lost decades’.

6 Sep 2024 - 10:58PMvideocam

3 years after Evergrande crisis, China’s key banks struggle to cap risk exposure

Banks in China are faced with an elevated non-performing loans (NPLs) ratio amid efforts to stabilise the national economy and fend off financial risks.

6 Sep 2024 - 3:00PMvideocam

Struggling Country Garden drops PwC amid turmoil in China property sector

Country Garden drops PwC as its auditor, in another setback for the firm that has lost more than 50 clients this year.

6 Sep 2024 - 12:25PM

Opinion | Why ‘peak China’ talk obscures dire reality about its economy

China is far from collapse but its gamble to anchor growth in hi-tech innovation won’t pay off unless it shores up its traditional economy.

6 Sep 2024 - 7:57AMvideocam

Struggling Country Garden again seeks to extend bond repayments

The Foshan-based developer said that it plans to postpone for six months the coupon and principal instalment payments on nine notes due this month.

5 Sep 2024 - 2:42PMvideocam

‘Profound reform’ a must for investment-hungry regions, Chinese newspaper says

A Chinese newspaper has called for localities to alter their strategies to win investment, saying past methods are no longer viable.

5 Sep 2024 - 1:22PM

China’s localities should limit their reliance on land and tax incentives to bring in new investment, a state media commentary said. Photo: Bloomberg

Will Hong Kong’s property market surge with the Fed’s anticipated rate cut?

Hong Kong’s property developers kicked off a new round of price cuts to offload inventories after the US Federal Reserve gave its strongest hint yet about an imminent rate cut.

3 Sep 2024 - 5:00PM

Residential buildings under construction at the Pavilia Forest project earlier this month. Photo: Lam Yik Fei/Bloomberg

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

1 Sep 2024 - 1:00PMvideocam

NWD to post US$2.4 billion loss in past financial year amid property sector woes

A non-cash impairment loss of up to HK$9.5 billion will not have any impact on its core operating profit or operating cash flow, NWD said.

31 Aug 2024 - 7:15PM

China Vanke reports first interim loss in two decades as home sales plunge

The loss came in 9.4 per cent higher than the top of a range the company defined in a warning last month as home sales plunged nearly 38 per cent.

30 Aug 2024 - 9:00PM

Residential buildings under construction at China Vanke’s Langshi Flower Language development in Shanghai, pictured on May 24, 2024. Photo: Bloomberg

Shimao’s losses widen 90% as China’s property slump shows no recovery in sight

Shanghai-based Shimao posted an interim loss of 22.7 billion yuan (US$3.2 billion) compared with 12 billion yuan a year earlier. Peers Kaisa, Fantasia and Sunac also struggled with poor home sales.

30 Aug 2024 - 11:25AMvideocam

Liquidation hearing against Shimao has been adjourned until December 16 as the troubled developer tries to gain creditors’ support for its restructuring proposal. Photo: Bloomberg

Singapore stays ahead of Hong Kong in JLL’s real estate market transparency list

Australia, New Zealand, Japan and Singapore are the best four among Asia-Pacific property markets in JLL’s latest transparency survey. The UK, France and US top the list globally.

28 Aug 2024 - 1:52PMvideocam

China Resources Land posts lowest first-half profit since 2018 amid slump

China’s property sector has been beset by woes since 2020, when Beijing introduced the “three red lines” policy to restrict developers’ borrowing binge.

28 Aug 2024 - 5:43PMvideocam

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China property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

last updated:

9 September, 2024