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Beijing ranks ahead of Shanghai and Shenzhen in list of world’s most innovative cities

Beijing is the most innovative city on the mainland, ranking ahead of Shanghai and the tech hub of Shenzhen, according to JLL’s latest research of the top 20 innovation-oriented cities in the world. Hong Kong did not make the cut.San Francisco, with its robust start-up scene, topped the list, followed by Tokyo, Singapore, Beijing, and London, respectively. Shanghai and Shenzhen ranked 11th and 15th, respectively.JLL said that it expects to see more Chinese cities in the global top 20 as they… Source link

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Property 

Shenzhen home sales rose 66 per cent, hit 30-month high, according to April data

Shenzhen home sales touched a record high in April amid falling mortgage rates, population influx and a cyclical upturn in sentiment, according to official data.But industry analysts and agents were quick to point out the surge in April reflected mostly an increase in March and early April, when buyers returned to the market with an upbeat outlook and pushed up sales volumes. This is because of a lag between actual sales and official registration.According to data from the official Shenzhen… Source link

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Shenzhen to adopt Singapore housing policy and drop Hong Kong model

Shenzhen, one of the most expensive cities in China, is poised to borrow a page from the playbook of Singapore for providing more subsidised homes, ditching the Hong Kong model the Chinese city has followed for more than two decades since private home ownership reforms were rolled out.Shenzhen, known as China’s Silicon Valley, will offer 1 million government-subsidised homes at as low as half of the prevailing market rate, according to a consulting paper issued by the Housing and Construction… Source link

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Shenzhen AI start-up Intellifusion helps city police identify jaywalkers and banned drivers

Shenzhen is known for its stringent traffic regulations to control the flow of hundreds of thousands of vehicles in the southern Chinese city of 12 million people, with surveillance cameras installed on every corner of the city.A locally based artificial intelligence (AI) firm, Intellifusion, is the invisible hand helping the city’s traffic police catch traffic rules violators, no matter whether they are driving or walking. The company’s self-designed high-definition cameras use AI technology… Source link

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Hong Kong’s MPF managers lobby for access to Shanghai and Shenzhen stocks to avoid missing out on the world’s biggest bull run

Fund managers have urged Hong Kong’s pension regulator to include the Shanghai and Shenzhen stock markets in its list of approved exchanges so as to allow the Mandatory Provident Fund (MPF) to invest more of its HK$813 billion (US$103.6 billion) assets in mainland-listed companies.The MPF is a compulsory retirement scheme in Hong Kong covering 2.9 million people. An employer and an employee each contribute 5 per cent of the monthly income up to a combined HK$3,000 minimum mandatory contribution… Source link

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Shenzhen police arrest soldier-turned-entrepreneur Zhang Wei, calling his China Create Capital a ‘mafia-like gang’

Zhang Wei, a soldier-turned-entrepreneur and cornerstone investor of Gansu Bank, has been arrested by Shenzhen police, becoming the latest Chinese businessman to fall foul of the mainland’s laws.China Create Capital Limited, the investment holding company headed by the 46-year-old Heilongjiang native is a “mafia-style gang” involved in illegal fundraising, harassment, blackmail, illegal detention of people and the possession of firearms, the Shenzhen police said in a notice. The whereabouts of… Source link

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China 

Hong Kong’s weak dollar is a victim of northbound investments rushing into the stock exchanges of Shanghai and Shenzhen

The rally in Chinese stocks has been bad news for the Hong Kong dollar.Equity investors are selling the currency for the Chinese yuan and buying mainland shares through the stock trading connects, according to Ronald Man, a strategist at Bank of America Merrill Lynch. That’s keeping the Hong Kong dollar lower in the spot market, he said. The currency has been at the weak end of its trading band for much of this month.Net northbound fund flows have climbed to 130 billion yuan (US$19.4 billion)… Source link

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Shenzhen Transsion applies to raise capital on Shanghai’s technology board after taking Africa’s phone market by storm

Shenzhen Transsion Holdings, which makes three of every 10 smartphones sold in Africa, has thrown its hat into the ring to raise capital on Shanghai’s tech board via an initial public offering (IPO), becoming one of the first among China’s home-grown technology champions to kick off President Xi Jinping’s fundraising project.The company completed a three-month counselling period from December 2018 until March, during which an investment bank provided guidance and advice on the IPO applicant’s… Source link

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All mainland China markets open higher, with consumer stocks leading in Shenzhen

The Hong Kong market opened flat on Friday, while leading benchmarks in mainland China recovered losses made in previous sessions.With the conclusion of the annual National People’s Congress in Beijing on Friday, and the release of most of key China economic data on Thursday, investors will once again turn their attention to the US-China trade war and corporate results, said traders.“Investors remained sidelined on Friday. Over the short term, I expect the Hang Seng Index to trade in a tight… Source link

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China 

Shenzhen banks become first in China’s megacities to ease mortgage rates – others may follow suit, say analysts

Mortgage rates in Shenzhen have begun to creep down, in a sign that the strict property controls holding house prices in check in mainland China’s biggest cities may be starting to loosen.Some of the southern city’s banks have tentatively lowered their borrowing costs for homeowners in the last few days, making Shenzhen the first of China’s so-called tier-1 cities to bring down the prohibitively expensive rates.Analysts said lenders in other megacities may follow suit.The average mortgage rate… Source link

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