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South Korean property boom fizzles out as investors balk at plan to remove tax incentives

Local and foreign investment in South Korean real estate dropped by nearly a third in the first three months of the year as Seoul announced plans to remove tax perks granted to the most common ­investment vehicles used by institutional investors.In the first quarter of the year, total foreign and local investment declined 31 per cent to US$4.44 billion from US$6.47 billion in the same period last year, data from Real Capital Analytics showed.Under the country’s current tax regime, real estate… Source link

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How 9/11 and China’s plan for blanket surveillance helped Hikvision and Dahua dominate the global CCTV camera market

China is famous for its one-industry towns. Gurao in southern Guangdong province is known for making bras. Qiaotou in Zhejiang province produces most of the world’s buttons. The city of Tianjin to the north is a major manufacturer of bicycles.Then there is Hangzhou’s Binjiang district, east of the Qiantang River that winds through the city, about 10 kilometres from the famed West Lake, a Unesco World Heritage Site. Once mostly farmland, the Binjiang district is now home to many manufacturers,… Source link

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Property 

China’s plan for a tax on property takes an unexpected twist thanks to the trade war

Beijing’s plan to unveil a nationwide property tax could become a casualty of the escalating US-China trade war, as efforts to push ahead with draft legislation on the new levy appear to be temporarily on hold.Rising uncertainty in the international environment means that “conditions are not ready” for rolling out a property tax law, Zhang Yiqun, an official with China Law Society, a policy institute under China’s Ministry of Finance, told the Securities Daily in a report on Wednesday.“An… Source link

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Global 

China exporters react to Donald Trump’s new trade war tariff plan: ‘This will kill my US market’

Exporters from China woke up on Tuesday to the news that US President Donald Trump has pressed forward with what was previously considered the “nuclear option” in the long-running trade war.By publishing a plan to roll out tariffs of up to 25 per cent on almost all of the remaining goods China sells to the United States, Trump has gone further than many thought possible when the trade war’s first skirmishes took place almost one year ago.Overnight, the Office of the United States Trade… Source link

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Sands China to follow up The Parisian and The Venetian with The Londoner as part of US$2.2b Macau expansion plan

Sands China last week unveiled plans to upgrade the 1,200-room Holiday Inn at Sands Cotai Central in Macau, rebranding it as The Londoner, a destination resort in line with its other European city-based brands, The Venetian and The Parisian.The Londoner rebranding is part of a larger, US$2.2 billion expansion plan, to be unveiled by Sands China, which develops, owns and operates integrated resorts, retail malls and casinos, in stages. To start with, the Holiday Inn will make way for the 600… Source link

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China plays a waiting game on the economy – and bets everything on the belt and road plan

China has been pump-priming its economy since January, in a reversal of recent deleveraging. The policy change is likely to stabilise the financial system and help financially troubled local governments, but won’t kick-start another growth cycle. Expect to see more of this sort of stabilising stimulus in the coming years. China is aiming to keep its economy on the treadmill – to keep it running on the same spot.According to the People’s Bank of China, aggregate financing surged to 8.18 trillion… Source link

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World’s most valuable distiller is under regulatory spotlight in China after a backlash against Moutai’s plan to streamline liquor sales wiped out US$21 billion

Kweichow Moutai, the world’s most valuable distiller and China’s first trillion-yuan company, has found itself under the regulatory spotlight after a plan by its new chairman to streamline sales of the highly sought-after rice liquor created a backlash and public outcry.Moutai, based in Zunyi city in Guizhou province, received a letter from the Shanghai Stock Exchange at midnight, asking the distiller to explain why its state-run parent Kweichow Moutai Winery Group had established its own sales… Source link

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CLP’s plan to buy solar energy from village houses hits a snag

A scheme for Hong Kong residents to generate electricity from rooftop solar panels and contribute to the government’s carbon reduction goals has suffered a setback due to a lack of grid infrastructure, according to the chief executive of the city’s largest power supplier.As many as 13 per cent of applications to install rooftop panels are facing delays or substantial scale curtailment, said Richard Lancaster of CLP Holdings.“In some more remote parts of the New Territories, there isn’t the… Source link

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Chinese cryptocurrency trader restructures business plan to include industrial cannabis, in wake of bitcoin rout

Grandshores Technology, the Hong Kong-listed blockchain investor backed by the government of Hangzhou municipality, is diversifying into medicinal and industrial cannabis cultivation as it embarks on a new business strategy to counter a lethargic bitcoin market.Co-chairman Yao Yongjie told the South China Morning Post that the company will decide next year whether industrial cannabis planting would become the company’s new business focus, and divert resources away from its global blockchain… Source link

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