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China’s smaller cities regain their mojo in March, as homebuyers return in droves, snapping a four-month deceleration in prices

The prices of China’s new homes snapped their four-month consecutive deceleration in March, recording a modest rebound last month as the easing of price-control regulations among the country’s far-flung smaller cities fuelled demand and prices.Prices advanced by 0.61 per cent in March, from February, at a faster monthly pace than the 0.53 per cent gain a month earlier, according to a Bloomberg calculation using National Bureau of Statistics data. New abodes cost more in March in 65 cities out… Source link

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Ecommerce 

JD.com sets strategy to expand into China’s smaller cities, offline businesses

Workers talk as displays show sales data at the command centre at the headquarters of e-commerce retailer JD.com in Beijing, Sunday, November 11, 2018. Online shoppers spent more than $14 billion within the first two hours of China’s annual buying frenzy on Sunday, once again breaking records as the consumer tradition enters its 10th year. (AP Photo/Mark Schiefelbein) Source link

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Declining home sales in smaller Chinese cities during Lunar New Year point to longer term troubles

A country road in Dezhou, in China’s northern Shandong province. Property purchases by residents of a nearby village drove up prices in downtown Dezhou from 4,000 yuan per square metre at the beginning of 2018 to more than 8,000 yuan by year end. With provincial governments around China scaling back slum redevelopment plans and cutting back on cash compensation in 2019, property in cities like Dezhou will become even more unaffordable, according to a prospective buyer. Photo: AFP Source link

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Singapore 

Tightened GST relief, smaller duty-free alcohol allowances: 8 things to know before making purchases abroad, Singapore News

SINGAPORE – In Finance Minister Heng Swee Keat’s Budget 2019 statement, he announced that the goods and services tax (GST) import relief will be tightened for travellers returning to Singapore from Tuesday (Feb 19). In addition, the alcohol duty-free concession will also be reduced from April 1. Not sure how these changes affect your next trip overseas? Here are eight things to note before making your purchases abroad.  1. WHAT IS GST AND WHY DO I HAVE TO PAY GST ON MY PURCHASES OVERSEAS? GST is a local consumption tax.…

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‘Father of Red Chips’ Francis Leung urges exchange officials to bolster trading turnover in smaller companies

The “Father of Red Chips” Francis Leung Pak-to has urged the local stock exchange to encourage retail investors to become more active in smaller companies, or face the risk of reputational damage to Hong Kong’s role as a fundraising hub. Leung, chairman of The Chamber of Hong Kong Listed Companies, said attracting more retail investors to trade in the local markets is a must when Hong Kong Exchanges and Clearing is developing its three-year strategy plan. “While Hong Kong has reclaimed the crown as the No 1 IPO market worldwide…

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Discounted Hong Kong development does not match demand for smaller apartments, fails to sell out

Hong Kong developer Sino Land managed to sell only 75 per cent of apartments put up for sale at heavy discounts at its Mayfair by The Sea 8 development in Tai Po. By 3pm on Wednesday, it had sold 171 out of a first batch of 228 units. The sale comes amid warnings by analysts about further declines in prices. And at an average price of HK$13,228 (US$1,686) per square foot after the discount in the first price list, the property is going for 26.5 per cent less than the…

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China 

China’s bankers and traders face smaller year-end bonuses and fewer job opportunities in 2019 amid trade war and market rout

China’s bankers and traders are facing smaller bonuses and fewer job opportunities, as the nation’s securities industry stutters after years of rapid growth. The sector, adjusting to a slowing economy, tightening credit and plunging stocks, last year saw its first annual headcount cut since 2014, the earliest official data available. A drop in stock sales meant most securities firms didn’t win a single mandate last year, and a third of them will not pay bonuses for 2018, according to Eric Zhu, a Shanghai-based manager at global recruiter Morgan McKinley. While…

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Hong Kong’s smaller businesses think ‘we’re too small to be hacked’ despite hacking experience, insurer finds

Hacking is on the rise in Hong Kong. But many smaller businesses have a “we’re too small to be hacked” mindset that leaves them vulnerable, according to insurance company Chubb. Chubb surveyed 300 of Hong Kong’s small and medium sized businesses and found that seven out of 10 said they had experienced a cybersecurity incident such as hacking or data loss in the past year. Despite this, half of the businesses surveyed had never bought cyber insurance. Fifty-two per cent of respondents also think they are less at risk than…

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Property 

China’s property bull run in smaller cities may be tiring out as curbs to tame home prices bite

The red-hot property bull run seen across China’s smaller cities may be tiring out, as government curbs intended to tame runaway prices rattle the housing sector, one of the economy’s most important drivers. In second-tier cities, transaction volume of second-hand homes has plunged over the past two months. Frenetic new home sales are beginning to lose energy. And home prices have slid in some places, too. The more than two dozen metropolises categorised as second-tier are some of China’s most prosperous towns. Smaller than megacities like Beijing and Shanghai, they…

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