Shanghai Tag

16 Apr China’s home prices fall for 10th straight month in fresh alarm for stronger policy response, revival plans

Posted at 05:28h in Asia

China’s home prices in the primary market fell for a 10th consecutive month in March, showing the government’s measures to support the nation’s struggling developers and lift consumer confidence are not sufficient to arrest the slump.Prices of new homes in 70 medium and large cities...

Read More

15 Apr Shanghai is the sole commodities bourse to stay open to Russian aluminium, copper and nickel as sanctions drive Moscow towards China

Posted at 05:27h in Asia

Sanctions by the United States and the United Kingdom on Russian metals will cement China as Moscow’s buyer of last resort for key commodities, and enhance Shanghai’s role as a venue to set prices for materials crucial to the global economy.The London Metal Exchange’s ban...

Read More

14 Apr Tech war: China pushes forward self-reliance campaign amid unrelenting US sanctions

Posted at 02:00h in Asia

They include chip design companies Loongson Technology and Sophgo Technologies, cloud computing and server vendor Inspur Group, Huawei Technologies’ big-data solutions unit Kunpeng, cybersecurity solutions start-up KML Technology Group and operating system specialist UnioTech Software.Tongming Lake IT City covers an area bigger than 500 football...

Read More

12 Apr Spotlight, BMW’s China venture, to assemble EVs including Mini cars for consumers worldwide

Posted at 12:30h in Asia

Spotlight Automotive, BMW’s 50-50 electric vehicle (EV) venture with mainland Chinese partner Great Wall Motor, is designing new models that it hopes to sell globally.Cars including models under BMW-owned brand Mini will be sold in markets such as Europe and Southeast Asia after Spotlight starts...

Read More

12 Apr Indebted Chinese developer Zhenro asks to delay restructuring amid ‘strained’ conditions, Ping An unit’s lawsuit threat

Posted at 05:11h in Asia

Defaulted Chinese developer Zhenro Properties Group is seeking to postpone a restructuring plan as its liquidity woes continue amid slumping sales, slow asset disposal and the threat of a lawsuit from Ping An Insurance Group over a property-linked trust.Zhenro plans to delay the implementation of...

Read More

11 Apr Shanghai Art021 art fair to launch a Hong Kong edition aimed at galleries from the Global South

Posted at 12:03h in Asia

After months of speculation, the Shanghai-based art fair operator Art021 is launching a Hong Kong fair, scheduled for this summer – provisionally July.Called Art021 Hong Kong, the inaugural edition is planned as an invitation-only event: all the galleries involved have been selected by the organisers.With...

Read More

10 Apr China scraps ownership caps on some telecoms services, courting foreign capital resurgence

Posted at 12:00h in Asia

China has designated areas where limits on foreign investment for select telecommunications services will be lifted, with the cities of Beijing, Shanghai, Shenzhen and the island province of Hainan acting as testing grounds for an oft-cited goal to open the bedrock industry to overseas capital.These...

Read More

10 Apr China creating ‘unfair competition’ for foreign players, German firms say in survey

Posted at 09:01h in Asia

German businesses in China have reiterated their calls for a level playing field, with two-thirds of those surveyed seeing themselves in “unfair competition” when operating there – findings which add to pressures on Beijing from foreign investors over persistent struggles related to market access and...

Read More

08 Apr China EV price war: Tesla rival Li Auto says cheapest model yet to ‘bring you happiness’, will launch next week

Posted at 22:00h in Asia

Li Auto, Tesla’s nearest rival in mainland China, plans to launch a new, more economical model aimed at families amid a price war in the country’s electric vehicle (EV) market.The mid-sized, five-seater Li L6 sport-utility vehicle (SUV) will be priced below 300,000 yuan (US$41,470), the...

Read More

05 Apr Lived-in home deals in Shanghai hit 20-month high in March, but agent says bull run may be ‘short-lived’ amid economic concerns

Posted at 12:48h in Asia

Transactions involving lived-in homes in Shanghai shot up in March as owners offered discounts to bargain hunters, but the outlook for the city’s housing market remains cloudy due to concerns about a bleak mainland Chinese economy.The number of transactions hit a 20-month high, and a...

Read More