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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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China 

Greater Bay Area initiative drives foreign investment in Guangzhou and Shenzhen real estate

Foreign investment in Guangzhou and Shenzhen real estate, two core cities in Beijing’s Greater Bay Area scheme, hit 7.5 billion yuan (US$1.09 billion) in the first quarter of the year, up by nearly half from the 5.2 billion yuan seen in all of 2018. According to the latest report from property consultancy Cushman & Wakefield, foreign investment in the two cities accounted for 33 per cent of the 22.7 billion yuan invested in the two cities in the first quarter. “The GBA initiative has really… 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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HSBC to add 1,000 jobs at tech development centres in Guangzhou, Shanghai and Xian as it looks to grow in China

HSBC Holdings plans to add more than 1,000 jobs this year at its technology development centres in China, as the Asia-focused lender seeks to bolster its presence in the world’s second largest economy.Europe’s biggest bank by assets will boost headcount at its technology centres in Guangzhou, Shanghai and Xian by 14 per cent from a current 7,000-strong workforce, said HSBC chief information officer Darryl West.In recent years the London-based bank has spent US$3 billion annually on its group… Source link

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Guangzhou offers lots of carrots to win over international biotech players in race to catch up with Beijing and Shanghai

The southern Chinese city of Guangzhou thinks it has found the formula to catch up with Beijing and the eastern cities of Shanghai and Suzhou in the development of novel drugs: incentives to win over big international players. Government incentives have attracted investment from such companies as GE Healthcare, a subsidiary of American conglomerate General Electric that focuses on medical imaging and diagnostics equipment and bio-pharmaceutical manufacturing technologies. GE is building its first Asia biotech campus – covering 350,000 square metres and requiring 800 million yuan of investment – in…

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Jewellery supply chain platform firm Atelier Technology banking on China, to open office in Guangzhou

Atelier Technology, a UK-based enterprise cloud platform that connects the jewellery supply chain, is banking on mainland China’s digitalised market and manufacturing sector for expansion and will open an office in Guangzhou in May. “When I go to mainland China, I feel like I’m seeing the future and living the future. For this reason, I believe China is a very big market for us and, therefore, I’m pushing very hard for us to move into the market,” Dominic Hill, co-founder and managing director at Atelier Technology, said during a Skype…

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Guangzhou (Nansha) port, bigger, smarter, more connected ahead to lead ports in the Greater Bay Area

The vision of a “Greater Bay Area” (GBA), China’s economic hub encompassing 11 urban southern Chinese cities, has caught the imagination of regional governments, corporations and investors. The plan to integrate the cities in fields of manufacturing, services, financing and high-tech  is going to offer the bay area container port market a wealth of new opportunities. Guangzhou (Nansha) port, located at the mouth of the Pearl River Estuary and the geographical center of the GBA, has been a major commercial and trading port in China over the past thousand years,…

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China 

Guangzhou misses its growth target, as trade war and China’s economic slowdown begin to bite

The city of Guangzhou, in China’s manufacturing and exporting heartland, failed to meet its annual growth target for 2018, raising a red flag about the health of the world’s second biggest economy. China’s fourth largest city by growth domestic product (GDP) grew by 6.5 per cent last year, short of the 7.5 per cent target set at the beginning of the year. The shortfall was announced in the local government’s annual work report, delivered to the local parliamentary session on Tuesday by the city’s mayor, Wen Guohui. Wen blamed Guangzhou’s…

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