Lianjia, China’s leading real estate brokerage, slashed its sales commission and started charging both sellers and buyers rather than just buyers in response to surging listings of existing homes following Beijing’s easing of housing policies, reports Caixin. Starting Tuesday, Lianjia cut its commission fee on property sales in Beijing from 2.7% to 2%, several agents […]
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Multiple current and former executives of China Evergrande Group and its subsidiaries have been swept up in investigations as authorities look into whether the embattled conglomerate has violated rules over the use of funds, according to sources with knowledge of the matter, reports Caixin. Pan Darong, a previous chief financial officer of the group, has […]
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China ups rare earths production
China has raised its rare-earth metal production quota for 2023 by 14% over last year to 240,000 tonnes, as the country moves to support its booming electric vehicle (EV) industry, reports Nikkei Asia. But in an apparent effort to restrict supply amid heightened tensions with the US, the country did not increase quotas for some […]
China and the EU have agreed to set up a “mechanism” to discuss export controls, mirroring a similar effort between Beijing and Washington, as the two trading superpowers seek to ease growing trade tensions, reports the Financial Times. Beijing also agreed to buy more EU agricultural goods and resolve issues including a backlog of licences […]
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HK crypto firm loses $200m in hack
Hackers stole around $200 million from cryptocurrency firm Mixin early on Saturday, the company said on social media platform X on Monday, in what researchers say is the largest crypto theft so far this year, reports the South China Morning Post. Mixin, which lists its location on LinkedIn as Hong Kong, said the database of […]