New World Development Co.’s financial distress is creating angst just as Hong Kong is starting to regain its feet. The real estate developer’s systemic importance is of great concern to residents, policymakers and investors alike. Property fire sales at New World could drag down home prices further, while a potential default will impair banks’ loan…
One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing. As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it…
(Bloomberg) — One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing. Most Read from Bloomberg As China’s property debt crisis enters its fifth year, there’s little indication…
Hong Kong is the most competitive city in the Greater Bay Area in three of six critical industries, according to an index that compares the relative advantages of the southern Chinese region’s 11 cities. Hong Kong tops the charts for financial services, trade and logistics, as well as culture, sports and tourism, according to the…
The Hong Kong government has appointed current accounting regulator head Kelvin Wong Tin-yau as the next chairman of the Securities and Futures Commission (SFC), replacing current chairman Tim Lui Tim-leung. Wong, 63, will serve a three-year term starting on October 20. To prepare for his role as market regulator, he has tendered his resignation as…