Chinese builder Country Garden Holdings Co.’s sales slump moderated in October, a sign of improving industry prospects following China’s stimulus blitz that include measures for property developers. Contracted sales for October declined 31% from a year earlier to 4.3 billion yuan ($610 million), according to corporate filings. That narrowed from a 41% on-year drop in…
In a cavernous multistory mall, customers jostle for space amid endless rows of glass display cabinets that glimmer under the bright lights. The space thrums with excitement as shoppers gaze down at bracelets, rings, necklaces and other finely crafted treasures. Welcome to Shuibei in Shenzhen, a former fishing village in southern China that’s become the…
The journey to a cashless Hong Kong is going well, that is until someone gets into a cab without first checking the money in her wallet. Chances are, she will be out the door in less than five seconds. Digital payments have made a big dent into the daily lives of the city’s 7.5 million…
A lack of green offices is posing a fresh risk to Hong Kong’s beleaguered property sector amid a slump that’s already wiped billions of dollars from real estate values. Faced with record vacancy rates and dwindling revenues, developers are reluctant to invest in expensive building upgrades to boost climate credentials and are as a result…
Hong Kong outlined its first policy guidelines dedicated to the use of AI in finance and floated a tax breakBloomberg Terminal for virtual assets, part of efforts to promote itself as an Asian business center. On Monday, government officials touted a common framework through which different regulatory agencies can craft policy governing the use of…
Hong Kong’s home sales uptick is expected to struggle with momentum due to the city’s weak economic outlook and elevated interest rates. The number of new home transactions in the seven days after Chief Executive John Lee’s policy address rose 20% compared with the same period earlier, according to data from broker Midland Realty. This…
SF Holding Co., China’s biggest express delivery company, is targeting a second listing in Hong Kong at the end of next month that could raise about $1 billion, according to people familiar with the matter. The Shenzhen-based company could list in the city on Nov. 27, the people said, asking not to be identified as…
A mansion in Hong Kong’s Repulse Bay was sold for HK$160 million ($21 million), adding to a streak of distressed property disposals this year. The sale of House 3 at the Beachfront in the luxury residential neighborhood was completed Tuesday, according to land registry records. The unit was used to back a HK$168 million loan…
Hong Kong is losing one of its longest-serving markets regulators as Keith Choy prepares to step down, according to people familiar with the matter. Choy, senior director of the Intermediaries Supervision Department, will leave the Securities and Futures Commission after 26 years, the people said, asking not to be identified discussing private information. A notice…
Hong Kong pledged to vet and debut companies in about 100 days in a bid to guarantee a set time frame for initial public offering applicants. For companies fully meeting listing requirements, the stock exchange and regulator will limit the question-and-answers in two rounds to no more than 40 business days, according to a joint…