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Higher deposit for land sales will add pressure on small firms, tightening the big developers’ grip on Hong Kong’s land supply

The recent move by Hong Kong’s government to double the deposit for land tender sales, raised to deter defaults, will add to the financing pressure on small developers and put them at a disadvantage when they buy land in the world’s most expensive property market, analysts said.A HK$50 million (US$6.4 million) deposit now applies on all land parcels that are valued at over HK$400 million, while plots assessed at between HK$200 million and less than HK$300 million requires a non-refundable… Source link

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Gallium: China tightens grip on wonder metal as Huawei works on promising applications beyond 5G

Did you know that a 5G base station can be squeezed into a casing the size of a shoebox? It’s thanks to gallium, a soft, bluish metal that makes it possible.The chipsets that generate powerful bursts of high frequency radio waves are not made with silicon, but gallium nitride. They consume little electricity, produce little heat, and can function comfortably at 800 degrees Celsius, making bulky equipment for power supply and air conditioning redundant.Gallium is one of the 35 technology… Source link

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Beijing likely to loosen its grip on the housing market as exports cool, analysts say

Beijing may begin to unwind restrictions designed to keep property prices in check as it battles to prop up economic momentum amid the escalating trade war, according to experts.The property sector and related industries, which account for more than 25 per cent of China’s gross domestic product according to CLSA, could be used to help offset the deteriorating trade outlook. The policy approach may be winning hearts and minds in Beijing as data showed exports contracted 2.7 per cent in April… Source link

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Pansy Ho deepens alliance with Hong Kong’s Fok Foundation to strengthen grip on Macau casino operator SJM Holdings

Shun Tak Holdings, founded by Macau tycoon Stanley Ho Hung-sun, has deepened its alliance with one of Hong Kong’s wealthiest families to strengthen its control of the largest holder of casino licences in the former Portuguese colony, giving managing director Pansy Ho Chiu-king the upper hand in a family tussle for the magnate’s gambling empire. Pansy Ho, the eldest of the tycoon’s five children with his second wife Lucina Laam King Ying, signed an agreement with the Fok Foundation, Lanceford and Interdragon to maintain STDM’s 54 per cent stake in…

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As the state tightens its grip on the economy, will China reject capitalism again?

China has just celebrated the 40th anniversary of its economic liberalisation. While everyone praised Deng Xiaoping again for his vision and leadership, one of his famous sayings, “Let some people get rich first”, was conveniently not mentioned. Amid widening inequality in China, that slogan just doesn’t feel appropriate now. If China were to hold a referendum today on increasing or decreasing state controls, chances are that the public would vote overwhelmingly for increasing them. Capitalists and liberals in the country must be relieved that holding a referendum is not a…

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Is Xi Jinping’s iron grip better than Adam Smith’s invisible hand for technology innovation?

In 2011, Princeton graduate and Google-trained product manager Wang Yi gave up on the “American dream”. Bidding farewell to Silicon Valley, he returned to China minus a solid plan but with a strong desire to set up a business that “can better meet consumer demands in one of the world’s largest mobile internet markets”. Now, riding the wave of China’s national plan to achieve global leadership in artificial intelligence (AI), the 38-year-old is perhaps a living example of the “Chinese dream”, part of President Xi Jinping’s national drive to achieve…

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