China Economic ReviewHong Kong’s insurance market has added a unique feather to its cap after HSBC Life made history with the sale of a world record $250-million life policy, reports the South China Morning Post. The policy, which was sold this year, was certified by Guinness World Records this week, overtaking a $201-million coverage bought by a […]
A Hong Kong-based creditor has filed a winding-up petition against struggling developer Country Garden, adding to a wave of legal action that threatens to increase liquidations across China’s property sector, reports the Financial Times. The petition, filed by a company called Ever Credit at Hong Kong’s High Court, cited non-payment of a HK$1.6 billion ($204 million) loan […]
Mortgage rates in China have come down to the lowest level since 2008 after lenders slashed their five-year loan prime rate (LPR) by 25 basic points earlier this month, the first cut since last June, reports Caixin. The average borrowing rate for first-time home buyers came down to 3.59% this month, while the average for […]
Foreign companies are tempering their business expansion in China as they navigate uncertainties stemming from the country’s slowing economy and tensions with the United States. Still, the majority retain a positive outlook on China’s long-term economic prospects, a survey found, reports Caixin. The American Chamber of Commerce (AmCham) in South China Tuesday published results of […]
China’s CDH Investments is in advanced talks to buy a minority stake in Bach Hoa Xanh from Vietnam retailer Mobile World, in a deal that could value the grocery chain at up to $1.7 billion, two sources with direct knowledge said, reports Reuters. CDH, one of China’s biggest alternative investment firms and also a former Mobile […]