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25 Mar Embattled Chinese developer Shimao seeks offshore investors’ approval to restructure US$11.7 billion debt

Posted at 15:10h in Asia

Embattled Chinese property developer Shimao Group Holdings is seeking to restructure offshore debt worth US$11.7 billion.The Shanghai-based firm is seeking approval from offshore creditors for a restructuring plan, according to a filing made to the Hong Kong stock exchange late on Monday, as part of...

25 Mar Mainland Chinese buyers have benefited the most from the removal of Hong Kong’s property curbs, have stepped up luxury purchases, JLL says

Posted at 11:51h in Asia

Mainland Chinese buyers are aggressively snapping up new luxury homes worth HK$30 million (US$3.8 million) or more since the removal of all of Hong Kong’s property curbs last month, JLL said.These buyers have accounted for 70 per cent of the primary sales of luxury residential...

25 Mar PDD’s Colin Huang surpasses Tencent, ByteDance founders as China’s richest tech billionaire after Pinduoduo outgrows e-commerce rivals

Posted at 11:36h in Asia

Colin Huang, the founder of PDD Holdings, has become China’s richest technology entrepreneur after a surge in the value of its US-listed shares, allowing him to surpass the nation’s more illustrious tycoons Pony Ma Huateng of Tencent Holdings and Zhang Yiming of Bytedance.The 44-year-old grew...

25 Mar Apple to install Baidu AI on its iPhone 16 and other products in China, report says

Posted at 11:00h in Asia

US tech giant Apple has picked Chinese search engine giant Baidu to provide the generative artificial intelligence (AI) technology for its coming iPhone 16 and other products in the mainland market this year, according to a Chinese media report.Apple will use Baidu’s Ernie Bot for...

25 Mar One Earth Summit: Hong Kong aims to be among first to align with global ISSB sustainability disclosure standards

Posted at 09:33h in Asia

The government will develop “a holistic approach” that includes phased implementation of the disclosure requirements for “all financial services sub-sectors”, including listed companies, banks, fund managers, insurance companies and Mandatory Provident Fund trustees, Hui said.Screens show the Hang Seng Index and other market indicators inside...

25 Mar Citic Securities slides after Shenzhen exchange investigates China’s biggest brokerage over IPO sponsor role

Posted at 08:32h in Asia

Citic Securities tumbled by the most in 18 months after the Shenzhen Stock Exchange said it would conduct an on-site supervision of China’s biggest brokerage by market value for its role as IPO sponsor of Liangang Optoelectronic Technology.It is the first of its kind investigation...

25 Mar Country Garden finds partner to fund completion of skyscraper in Guangzhou, shares soar

Posted at 08:04h in Asia

Debt stricken property developer Country Garden has roped in a new partner to inject capital into its partially-finished, 64-storey commercial tower in Guangzhou’s Baietan business district, as the company overcame struggles to finish construction on a land parcel acquired in 2017.The announcement lifted the developer’s...

25 Mar How tech entrepreneur Yat Siu rides wave of creation to help reshape the digital space

Posted at 08:00h in Asia

Asked the question of how he would spend HK$8 million (about US$1 million), tech entrepreneur Yat Siu says he would invest in alternative assets such as non-fungible tokens (NFTs) – digital assets that exist on the internet, such as videos, artworks or photos, that have...

25 Mar 3 Body Problem piracy spikes in China, reflecting intense interest as Hollywood films struggle

Posted at 07:30h in Asia

A huge spike in online piracy of Netflix’s 3 Body Problem on the day of its release in China, where the streaming service and its original shows are not officially available, reflects an intense interest in the country to see how the US streamer is...

25 Mar Xiaomi CEO Lei Jun teases price of SU7 electric car as showrooms in China begin displaying vehicle

Posted at 06:25h in Asia

Xiaomi CEO Lei Jun teases price of SU7 electric car as showrooms in China begin displaying vehicleXiaomi’s CEO said on Monday his goal for the firm’s first electric vehicle (EV) was that it would be the “best looking, easiest to drive and smartest car” priced...

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