Vietnam 

More foreigners buying apartments in HCM City – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – More foreigners are buying apartments and investing in real estate in Việt Nam, especially in HCM City, with most of them coming from mainland China, Japan, Singapore and South Korea. Ngô Quang Phúc, general director of Phú Đông Group, said that since the amended Law on Housing 2014 took effect in 2015 the domestic property market has seen increased interest from foreign buyers. From 2008 to 2014, only 126 foreigners bought property in Việt Nam. In 2014, the Ministry of Construction…

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Ecommerce 

Tech culture: Chinese consumers are buying cars online using VR, without kicking the proverbial tyre

Many who have benefited most from China’s economic boom over the past decade have not been shy about flaunting their wealth — providing a boon in sales for luxury goods makers and high-end automakers such as Ferrari and Maserati.Times are changing though and amid the recent economic slowdown more and more ordinary Chinese are turning to the second-hand car market to meet their driving needs.Newly-married Ma Pengxiao is 25 years old, lives in Weinan, a small city in China’s northwestern province… Source link

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Home 

China’s insiders are busy selling stocks on the back of the buying frenzy brought by MSCI’s increase of A share weightings

Foreigners are finally warming to China.It’s no surprise: In just two months, the country’s stock market has done a 180. Investors from abroad were net buyers of more than 120 billion yuan (US$18 billion) of shares this year through Hong Kong’s Stock Connect. In hindsight, MSCI’s decision to include mainland stocks in its benchmark indexes last May seems like a wise one.Late Thursday in New York, MSCI said it will increase the weighting of A shares in its China indexes and related benchmarks by… Source link

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China 

China’s February home sales value extends decline as trade war weighs on the lifetime buying decision for most people

China’s February home sales extended their decline, following a weak showing a month earlier, as economic uncertainty from the nation’s ongoing trade war with the United States continued to weigh on what could be the biggest purchase of a lifetime for most buyers.The contracted sales value by China’s 100 largest developers fell 11 per cent last month to a combined 446.4 billion yuan (US$66.7 billion), compared with last year, according to data by China Real Estate Information Corporation (CRIC)… Source link

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Home 

China’s liaison office officials have buying up local flats, drawing focus on tax-exempt status

The Beijing government’s office in Hong Kong, which is exempt from stamp duties, has made a recent string of acquisitions in Hong Kong’s residential market, building up a large portfolio that could be worth billions of dollars, according to market watchers.Newman Investment, whose five directors have the same names as officials from the Administration and Finance Department of the central government’s liaison office, bought 20 flats at Grand Central in Kwun Tong, a residential project jointly… Source link

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Property 

Chinese overseas property buying plummets 63 per cent in 2018, hitting four-year low

Property buying by mainland Chinese investors hit a four-year low of US$15.7 billion in 2018, plummeting 63 per cent year on year amid weakening sentiment, tightener policies and growing economic headwinds, according to a survey.Hong Kong was one of the bright spots.The city ranked as the top destination for mainland overseas property buying a second straight year, at US$9.5 billion. But still that was a 20 per cent decline year on year, according to data in the fourth annual survey conducted… Source link

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Home 

As China gets used to buying on credit, it remains important for GM financing arm even as new car sales soften

As concerns are increasing about rising delinquency rates among car buyers in the United States, GM Financial, the car loans arm of US carmaker General Motors, is increasingly looking to mainland China for potential growth. Not only is China the world’s biggest market for car purchases, but Chinese buyers make larger down payments and pay off their loans quicker than their US counterparts when they borrow money for new or used cars. Beijing, pushing its electric vehicle market, is making it harder for start-ups to enter as it fights overcapacity…

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China 

Chinese drivers switch lanes, follow US motorists in buying more used cars

Chinese consumers, whose penchant for frequent upgrades created the world’s largest automobile market in a generation, are discovering of late that new is not everything. They are switching gears to buy second-hand cars, eschewing first-hand models, as economic growth in mainland China weakens to its slowest pace in decades and an ongoing trade war with the United States spills over into uncertainties about investment and job prospects. Beijing, pushing its electric vehicle market, is making it harder for start-ups to enter as it fights overcapacity Consumer confidence in second-hand cars…

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Home 

Huawei faces increased US opposition at Mobile World Congress with officials out to dissuade from buying Chinese 5G gear

Huawei Technologies Co., facing a widening global crackdown on its telecom equipment, is bolstering its presence at the industry’s biggest conference in an attempt to land deals. Its plans risk being foiled by a powerful foe: the US government. US officials are also increasing the size of their delegation to the Mobile World Congress in Barcelona this month, saying they want to help other nations focus on the security of next-generation mobile gear. They aren’t calling the meeting a showdown with Huawei, but that agenda – provided by three officials…

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Home 

Hong Kong family behind Chow Tai Fook and New World Development explores buying Varo Energy

Hong Kong’s billionaire Cheng family, which controls a real estate and jewellery empire, is exploring a bid for European fuel supplier Varo Energy, people with knowledge of the matter said. The companies have held talks about a deal that could value Varo Energy, backed by investors including Carlyle Group, at about €2 billion (US$2.3 billion) including debt, according to the people. No final agreements have been reached, and there is no certainty the negotiations will lead to a transaction, the people said, asking not to be identified because the information…

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