Property 

Housing policy easing, falling yuan to attract young Hongkongers to ‘Greater Bay Area’ cities of Zhuhai, Zhongshan and Guangzhou

More young Hongkongers looking to get on to the property ladder are expected to seek homes in the “Greater Bay Area” cities of Zhuhai, Zhongshan and Guangzhou, as a result of policy easing and a depreciating yuan, property agents have said.The agents said they have witnessed a twofold year-on-year increase in home sales in these cities, while enquiries from Hong Kong buyers looking to buy apartments in 70-year-lease projects have also gone up.“We are seeing more inquires from young Hongkongers… Source link

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More Chinese cities set to join Guangzhou and Shenzhen in increasing car ownership quotas to lift declining sales

China’s local governments are taking steps to boost car sales that have fallen for 10 consecutive months through April by increasing the annual quota of new licence plates in some of the mainland’s biggest cities that are plagued by traffic congestion.Guangzhou and Shenzhen in the southern Guangdong province announced last week that they will increase the supply of licence plates in the two cities by at least 42 per cent through 2020, a move Jefferies Financial Group said was unexpected because… Source link

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China 

Zhenjiang suicide-watch guard is the human face of the economic malaise that afflicts smaller cities amid the US-China trade war

As an out-of-work chemist inJiangsu province, Chen Wei thanked his lucky stars when he found work as a security guard for China’s anti-corruption agency.For 4,000 yuan (US$579) a month, Chen keeps watch with a colleague in six-hour shifts over detainees, some suicidal, who are awaiting investigation by the Communist Party’s organ for policing corruption.The shift work, which pays a third less than his old job making plastic pellets, is mind-numbing – there’s no Wifi-enabled smartphones allowed,… Source link

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Growth in home prices in China’s bigger cities may push up costs countrywide, think tank says

A bridge modelled on London’s Tower Bridge in Suzhou, in China’s eastern Jiangsu province. New home prices rose in 67 out of the 70 cities monitored by China’s National Bureau of Statistics in April. This prompted the housing ministry to warn four cities, including Suzhou, that they were showing signs of overheating. Photo: AFP Source link

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Prominent Utah investor’s US$150 million fund eyes real estate projects in secondary US cities that promote social good

Real estate moguls, banks and money managers are rushing to capitalise on a new US tax break rewarding investments in poor communities. Now, one of the biggest names in impact investing is aiming to prove the perks are about more than profits.Jim Sorenson, a prominent Utah entrepreneur, investor and businessman, plans to announce on Monday that Catalyst, a private equity firm he helped found, is raising US$150 million to invest in opportunity zones. The group’s first fund, which Sorenson is… Source link

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Beijing ranks ahead of Shanghai and Shenzhen in list of world’s most innovative cities

Beijing is the most innovative city on the mainland, ranking ahead of Shanghai and the tech hub of Shenzhen, according to JLL’s latest research of the top 20 innovation-oriented cities in the world. Hong Kong did not make the cut.San Francisco, with its robust start-up scene, topped the list, followed by Tokyo, Singapore, Beijing, and London, respectively. Shanghai and Shenzhen ranked 11th and 15th, respectively.JLL said that it expects to see more Chinese cities in the global top 20 as they… Source link

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Cities should regulate facial recognition instead of banning it, China’s AI champion SenseTime says

SenseTime, the world’s most valuable artificial intelligence (AI) start-up, has called on governments to establish new regulation for facial recognition systems, following the recent decision in San Francisco to ban local police and other agencies from using such technology because of the potential for abuse.“Governments should craft regulations, instead of restricting use [of facial recognition systems],” said Xu Li, co-founder and chief executive of SenseTime, on the sidelines of a company… Source link

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China 

New home prices rise in almost all Chinese cities as lower mortgage rates, lighter restrictions spur demand

New home prices rose in almost all of the 70 Chinese cities monitored by the government in April, as upbeat sentiment extended its reach.The average cost of a new house increased by 0.62 per cent, about the same as the rise in March and higher than the 0.53 per cent gain in February, according to a Bloomberg calculations based on National Bureau of Statistics data released on Thursday morning.Prices climbed in 67 out of the 70 cities tracked by the bureau, a jump from 65 and 57 cities in March……

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Brace for Lego-style buildings with a 50-year life-cycle and other changes in the future of cities

As some of you may know, one of my roles is that of chairman of the Asia-Pacific region of the Urban Land Institute (ULI), an organisation which champions the optimum use of land and the sustainable planning and development of cities and communities for the benefit of present and future generations. ULI has some 43,000 members worldwide, with 2,500 in the Asia-Pacific region, and its strengths are the multidisciplinary nature of its membership, covering all sectors of the built environment and… Source link

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China’s rust belt cities shrouded in uncertainty as exhausted natural resources shake China’s foundations

The northeast rust belt, once the pride and birthplace of China’s industrial development, is in its biggest economic slump as it struggles to shake off a deep-rooted planned economic mindset and dwindling resources, and a brain drain to regain competitiveness. This is the second article of a five-part series that examines the issues inhibiting reform and changes to revive growth.The tiny shroud shop on a dusty commercial street leading to the abandoned Shengli Coal Mine in Fushun in China’s… Source link

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