Hong Kong must prioritise cutting expenses and even consider raising taxes after authorities more than doubled their fiscal deficit estimate, observers have said, with some warning a reliance on land sales has become a structural problem. Experts weighed in after finance chief Paul Chan Mo-po revealed his earlier projection of a HK$48 billion deficit for…
Hong Kong must prioritise cutting expenses and even consider raising taxes after authorities more than doubled their fiscal deficit estimate, observers have said, with some warning a reliance on land sales has become a structural problem. Experts weighed in after finance chief Paul Chan Mo-po revealed his earlier projection of a HK$48 billion deficit for…
China’s economy likely gained momentum last month, with early indicators pointing to a rebound after the government began rolling out stimulus measures in late September. Industrial output and retail sales are expected to have grown at a faster pace in October compared to September, according to forecasts by economists in a Bloomberg survey. The government’s…
China needs to deploy more economic stimulus if copper demand is to revive, according to a major importer of the metal. The government has issued a slew of measures since late September to shore up confidence in the world’s biggest buyer of metals, where a prolonged slowdown in the property market is dragging on growth….
China is planning to cut taxes for home purchases as the government dials up fiscal support to revive a moribund housing market, according to people familiar with the matter. Regulators are working on a proposal that would allow mega cities including Shanghai and Beijing to cut the deed tax for buyers to as low as…
When China Managing Director San Yan Ng first started at Lululemon Athletica Inc. in 2018, the yogawear maker had just about 10 local stores and was still trying to figure out how to operate on e-commerce platforms. This year, it has more than 130 outlets and hit $1 billion in Chinese sales for the first…
Welcome to our guide to the commodities powering the global economy. Today, reporter Dan Murtaugh looks at what Donald Trump’s victory could do for China’s energy outlook. To get this newsletter in your inbox, sign up here. Donald Trump’s victory in this week’s US election comes with plenty of risks for China. But it also…
Hong Kong’s diverging housing rents and home prices are turning more renters into buyers, especially new arrivals under the city’s various talent schemes, offering a potential salve to the real estate slump. At the same time, attractive rental returns, lower interest rates and the end of duties aimed at non-residents are drawing more buyers from…
The big bosses at DBS Bank and HSBC’s money-management unit became new owners of luxury homes in Hong Kong in October amid a revival in optimism and stock market wealth, helping drive the property market to its busiest month since May. Transactions involving new and lived-in homes, offices, shops, car parks and industrial spaces jumped…
Hong Kong stocks rose, paring back a loss for the week, after property sales in China returned to growth for the first time this year, adding to evidence of stabilisation in the world’s second-largest economy. The Hang Seng Index gained 0.5 per cent to 20,417.72 as of 9.47am local time, paring to 0.6 per cent…