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‘Nice but a bit dull’ – why China’s growing ranks of affluent, independent women don’t want their men to buy them jewellery

Millions of besotted men around the world will shower their partners with gifts today, many opting for jewellery to symbolise their undying love on Valentine’s Day. But shiny new necklaces and earrings may not be the best way for men to woo their other halves in China, where a growing number of affluent, independent women say they would rather buy their own. Crystal Zhang, 32, said her boyfriend has tended to choose classic designs that are a bit on the boring side when buying her items of jewellery. “They are…

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Ecommerce 

Why is JD.com spending US$400 million to buy this hotel in Beijing?

JD.com, China’s second largest e-commerce company, has closed a deal to buy the Jade Palace Hotel in Beijing for US$400 million, with the goal of transforming the five-star property into a new innovation and recruitment centre. The Nasdaq-listed company said on Monday that it acquired 100 per cent ownership of the hotel, which is located near the Chinese capital’s Zhongguancun technology hub. “The purchase of the hotel will serve JD.com’s long-term development,” a company spokesman said. “The hotel will be transformed into a space mainly for technology innovation and commercial…

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Singapore 

Last-minute CNY shopping: budget CNY hampers you can buy online, Singapore News

Gong Xi Fa Cai! Usher in this Lunar New Year by gifting your family, loved ones and friends with a Chinese New Year hamper. Besides wishing them prosperity, an abundance of wealth and peace in the upcoming year. The gift of a hamper will surely put you in their good stead for the rest of 2019. To help you with your hamper search, here a handy list of very huat hampers that will bring prosperity to whoever it is gifted to! For more shopping recommendations and new deals, follow us…

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China 

China says it will buy more soybeans, but American farmers see a bleak future

China’s surprise pledge this week to buy more American soybeans has failed to convince US farmers that brighter days lie ahead. In a meeting with Donald Trump in the Oval Office on Thursday, Liu He, China’s vice-premier and lead trade negotiator, told the US president and his advisers that China was committed to purchasing another 5 million metric tonnes of American soybeans. The announcement, which was not discussed or anticipated as part of the trade negotiations, was seen as an olive branch extended by China in the hope of moving…

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Top Shanghai analyst says best time to buy China stocks is first quarter of 2019

A top Shanghai-based analyst has said the first quarter offers the best opportunity for buying Chinese stocks in 2019, in stark contrast with the likes of Swiss bank UBS and the fund unit of HSBC, which have forecast a comeback later in the year. Chen Li, chief economist at Soochow Securities, said on Tuesday that Chinese stocks, the worst performers among major markets globally last year, will trend higher in the first three months of this year. He said expectations of a slowdown in earnings growth have been digested by…

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Home 

Huawei founder says West would be ‘foolish’ not to buy its 5G products as they are leading edge

Huawei founder Ren Zhengfei went on China’s state broadcaster to defend the telecom gear supplier’s track record in his first-ever television interview, a move prompted by western government bans on its 5G equipment over security concerns. Speaking in a CCTV interview that aired Sunday, the 74-year-old founder of the company said Huawei’s wireless and 5G solutions are world class and will solve issues many Western countries face in 5G development, especially in sparsely populated rural areas. “They are foolish and will lose money if they don’t buy [our products],” Ren…

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Property 

Evergrande Health pays US$930 million to buy control of carmaker in its foray into mass production of electric vehicles in China

Evergrande Group, China’s third-largest property developer by sales, has bought control of a producer of electric vehicles in the country, bolstering its founder’s ambition to diversify from real estate into the emerging industry of next-generation automobiles. The developer will use its subsidiary Evergrande Health Industry Group to pay US$930 million for 51 per cent of National Electric Vehicle Sweden (NEVS), according to a statement to the Hong Kong stock exchange, where it is listed. Evergrande Health has paid first instalment of US$430 million on Tuesday, while the remainder of the…

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Singapore 

CapitaLand to buy Temasek unit Ascendas-Singbridge in $11b deal, creating Asia’s biggest diversified real estate group, Singapore News

SINGAPORE – CapitaLand is acquiring Temasek subsidiary Ascendas-Singbridge (ASB) in a deal valued at $11 billion, including debt, to create Asia’s largest diversified real estate group. After the transaction, CapitaLand’s combined total assets under management (AUM) will exceed $116 billion across more than 30 countries, and cover asset classes such as logistics/business parks, industrial, lodging, commercial, retail and residential. In addition, CapitaLand will surpass its 2020 AUM target of $100 billion, putting it among the top 10 real estate investment managers in the world. Under the terms of the agreement,…

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If you’re going to buy a house in Hong Kong, live in it, warns tycoon Li Ka-shing as he forecasts global slowdown

Hong Kong’s richest man, Li Ka-shing, said the world faces slower economic growth and warned against speculation in the city’s property market. “This year, the world economy will probably be very complicated. Everyone should be cautious,” said Li who retired last year, aged 90, as chairman of CK Asset Holdings and CK Hutchison Group. “In my own personal opinion, this year the world will face low GDP growth. I’m paying attention to the world economy because the group has businesses in 52 countries.” He was speaking before the CK Group’s…

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Property 

Is this the right time to buy a home in Hong Kong? Bargain hard instead of waiting for further correction

Is now a good time to buy an apartment? Many people have asked this question, and as we step into 2019, this is a good time to reflect on it. The property market in 2018 was a roller-coaster – due to an encouraging sales response to new projects, the first half was fuelled with positive sentiment. As a result, the mass residential index surged by 9.8 per cent in the first eight months. However, when it encountered market uncertainties, market sentiment turned sour momentarily, and the whole-year price growth narrowed…

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