China 

China’s railway spending plummets as Beijing struggles to sustain momentum

China’s spending on railways, a key driver for growth in the last decade, tumbled in August – in part because all major towns are now covered by the country’s extensive railway network.China’s economic planning agency said on Wednesday that railway fixed-asset investment was 449.6 billion yuan (US$63 billion) in the first eight months of this year, which marked a modest 2.5 per cent fall from the same period last year.However, August alone marked a steep fall of 27.1 per cent compared to the… Source link

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China’s venture capital market plummets amid trade war, tech start-up valuation concerns

China went through a five-year surge in venture capital investment that fostered a new generation of start-ups, from ride-hailing giant Didi Chuxing to TikTok-parent ByteDance. Now the boom may be over.Venture capital deals in China plummeted in the second quarter, as investors pulled back amid unpredictable trade talks and growing concerns about start-up valuations. The value of investments in the country tumbled 77 per cent to US$9.4 billion in the second quarter from a year earlier, while… Source link

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Completion of new flats in Hong Kong plummets to four-year low as looming vacancy tax spooks developers

The number of new flats built to completion in Hong Kong plunged by 88 per cent to just 1,000 in the first three months of the year as developers fearful of the government’s planned vacancy tax held back.It is the lowest number since the first quarter of 2015, and represents an enormous fall from 8,300 in the October to December period, according to figures released by the Transport and Housing Bureau on Friday.“The vacancy tax may be one of the reasons for the fall in completion of new flats… Source…

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Property 

Chinese overseas property buying plummets 63 per cent in 2018, hitting four-year low

Property buying by mainland Chinese investors hit a four-year low of US$15.7 billion in 2018, plummeting 63 per cent year on year amid weakening sentiment, tightener policies and growing economic headwinds, according to a survey.Hong Kong was one of the bright spots.The city ranked as the top destination for mainland overseas property buying a second straight year, at US$9.5 billion. But still that was a 20 per cent decline year on year, according to data in the fourth annual survey conducted… Source link

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Hong Kong’s investor confidence plummets to lowest level in almost a decade as trade war flares

Investor confidence in Hong Kong has plummeted to its lowest level in nearly 10 years over the US-China trade war and increased market volatility, according to JPMorgan Asset Management. JP Morgan’s Hong Kong Investment Confidence Index fell below the neutral level of 100 into negative territory for the first time since 2009, the year following the global financial crisis. It dropped from 106 points in April to 88 points in November, according to the annual survey by the investment bank’s asset management arm. The index is based on interviews with…

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