The country’s top 100 developers reported combined contracted sales of RMB 165.5 billion (US$24 billion) in January, down 27% from a year earlier, reports the South China Morning Post, citing data released over the weekend by China Real Estate Information Corporation (CRIC). Stress was particularly acute among offshore borrowers. The combined contracted sales of 18 major […]
Category: Politics & Society
China’s largest private education company in terms of market value has begun offering leisure courses such as dance and photography for older adults in Beijing, reports the South China Morning Post. This comes as it pivots towards the country’s fast-growing silver economy. Since a ban on for-profit tutoring in core academic subjects in 2021, New Oriental […]
The new year has begun with renewed talk from Beijing of boosting consumption—that is, getting people to buy stuff—but all signs appear to be heading the other way. The latest news, for example, includes a continuation of the property sector slump with January sales figures from the 100 largest developers down 27% from a year […]
Panama’s Supreme Court has ruled that contracts to operate two ports on the Panama Canal held by Panama Port Company (PPC), a subsidiary of Hong Kong’s CK Hutchinson, are unconstitutional and therefore void. The PPC, which is operated by Hutchinson, owned by billionaire Li Ka-shing, has been running the ports on either end of the […]
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Global reshuffle?
Not so long ago, it was the French President Macron, then the Canadian Prime Minister Carney, and this week we have the British Prime Minister Starmer in Beijing paying respects. And there are more world leaders to come. The backdrop to this procession of course is the United States, and Trump and the fundamental shift […]