China 

Could Hong Kong airport shutdown give Shenzhen the edge as top air hub in Greater Bay Area?

The shutdown of operations at Hong Kong International Airport (HKIA) for a second consecutive day on Tuesday has tarnished the city’s reputation and could prompt airlines to reassess the facility’s role as the main air transport hub for the Greater Bay Area, analysts said.That reassessment could be supported by Chinese government efforts to expand the capacity of other airports in the area to handle the expected increase in passenger traffic in coming years, they added.Hong Kong International… Source link

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HSBC’s Greater China head Helen Wong quits as bank loses second heavyweight in a week

HSBC, the largest lender in Hong Kong, has lost its second senior management within a week.The bank’s Greater China chief executive Helen Wong Pik-kuen has resigned and will start on leave from Saturday, according to an internal memo seen by the South China Morning Post.Wong, who joined HSBC in 1992, “has decided to leave HSBC to pursue an external opportunity”, according to the memo sent by her boss, Peter Wong Tung-shing, deputy chairman and chief executive of Asia-Pacific, to all 57,000… Source link

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How Hong Kong can truly leverage the Greater Bay Area for the arts

The buzz of the Greater Bay Area project, a government scheme to link up Hong Kong and other Chinese cities in a business hub, has spilled over into the arts and culture. Last month, a festival organised by the Hong Kong Celebrations Association in Victoria Park, featuring Belgian DJ DVLM and K-pop idol Rain and well attended by youngsters, was called the Greater Bay Festival even though it appeared to have little to do with the business park. However, this may be reflective of the intention to… Source link

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China 

China’s Baoshang Bank failure has silver lining in the form of greater focus on rural lending

The midsummer heat had sent the farmers from the village of Wujia Gedu back to their single-storey flat-roof houses before noon, while outside, endless fields of corn swayed gently in a lunchtime breeze.Few vehicles passed on the narrow road between the green waves of corn, apart from a handful of buses linking the village with the town centre of Dalad Banner, a county-level region more than 100km from the county seat of Ordos, Inner Mongolia. Hardly anybody, however, got on or off at the… Source link

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Global fund managers expanding in Hong Kong with eye on Greater Bay Area and Belt and Road Initiative

International fund companies are unfazed by the protests that have wracked Hong Kong for more than a month, focusing instead on the potential of the Greater Bay Area and the Belt and Road Initiative.US fund manager Federated Investors, with US$485 billion worth of assets under management as well as its 60 per cent owned British fund house Hermes Investment Management, both plan to continue to expand in Hong Kong as part of their long-term strategy in Asia.Hong Kong has seen many protests since… Source link

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Global 

South Korea braces for more export curbs as Moon Jae-in warns of ‘greater damage’ to Japan’s economy

South Korea is braced for Japan to further escalate the countries’ trade dispute by removing Seoul from Tokyo’s “white list” of trusted trade partners and subsequently imposing new customs clearance restrictions on 40 categories of products, which could amount to 1,100 specific items.Officials from the two countries made no progress in talks last Friday, leading Japan’s Ministry of Economy, Trade and Industry to suggest it could remove South Korea from the list of 27 preferred trading partners,… Source link

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China 

HSBC forum hears the Greater Bay Area is poised to deliver new business

[Sponsored article]There are excellent opportunities for Hong Kong companies in the Guangdong-Hong Kong-Macao Greater Bay Area, HSBC Greater China Chief Executive Helen Wong Pik-kuen said during a seminar on May 30.Wong said HSBC emphasised the importance of the region because it was the most economically vibrant area in southern China. “The Greater Bay Area is a very rich region, and the GDP per capita of Pearl River Delta is 2.2 times the average in mainland China,” Wong said at the forum to… Source link

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Bond Connect adds new features and ‘market makers’ to give foreign investors greater access to China’s US$9 trillion bond market

A scheme designed to give overseas investors and those in mainland China access to each other’s bond markets celebrated its second anniversary on Wednesday, with the announcement of new features and “market makers” to boost trading.Gao Fei, deputy inspector at the People’s Bank of China, unveiled the plans to further open up China’s bond market in a speech to hundreds of bankers and traders at the Bond Connect Anniversary Summit 2019, held at the headquarters of bourse operator Hong Kong… Source link

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Greater Bay Area diversity will drive property markets across Hong Kong, Shenzhen and Guangzhou

Hong Kong might have the world’s highest home prices, but it has become an unsurprising headline. But it was Shenzhen, not Hong Kong, that raised the most eyebrows, when the tech hub joined the top five priciest home markets in the world, according to CBRE’s Global Living Report in April.This result was significant. Firstly, it reinforced the global credentials of Shenzhen. And secondly, it told us that an internationally high price tag has far more implications for individuals and businesses… Source link

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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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