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Hong Kong’s ‘unwise policies’ fuelled protests, unrest in city, Hang Lung Properties chairman Ronnie Chan says

Hang Lung Properties chairman Ronnie Chan Chi-chung said the “unwise policies” of Hong Kong’s government had contributed to an atmosphere that sparked protests and civil unrest and are now threatening the city’s business community.Chan said the unrest “cannot but negatively affect business” and reduce “confidence among the international business community”.“In the past month and a half, the city has erupted into a tumultuous place. It was the result of unwise policies made locally and not… Source link

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Social unrest won’t stop Hong Kong playing a key role in China’s belt and road strategy, say business leaders

Allan Zeman (second left), chairman of Lan Kwai Fong Group, Witman Hung (second right), principal liaison officer for Hong Kong at the Shenzhen Qianhai Authority and Tony Verb (right), co-founder and partner at GreaterBay Venture & Advisors, take part in a panel discussion titled ‘The competition conundrum’, at the South China Morning Post’s China Conference, on Wednesday. Photo: May Tse Source link

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Good news for Hong Kong in leaked Carrie Lam tape: a solution to the unrest is at hand

So square the circle: 1. Hong Kong is in a state of “unforgivable havoc”. 2. I did it. 3. I am sorry. 4. Given the choice, I should resign. 5. Please forgive me. 6. I have not given my resignation to the central government … 7. Err, that’s it.The morality of recording Chief Executive Carrie Lam Cheng Yuet-ngor’s private conference and leaking it verbatim to the press is dubious. But this is politics; it’s standard operating procedure. It is naive to think that leaks will never happen and… Source link

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Singapore 

Chan Chun Sing: Singapore will not escape economic impact if Hong Kong unrest persists, Singapore, Business News

Prolonged disruption to Hong Kong’s stability will have a “negative spillover impact” on Singapore and the wider region, the Southeast Asian city state’s trade minister warned on Monday. Chan Chun Sing said close trade and investment ties between the two cities meant Singapore would likely be impacted by the anti-government protests in Hong Kong. The southern Chinese city was Singapore’s fifth largest trading partner last year, Chan said, and its fourth largest investment destination at the end of 2017. Trade between the two accounted for an estimated 1.2 per cent…

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Prices of Hong Kong’s lived-in homes drop in July, in second straight month of retreat as public unrest, trade war continue to bite

Prices of Hong Kong’s lived-in homes declined 0.1 per cent in July, the second straight month of retreat as the city continued to reel from an escalating political crisis and the US-China trade war. The drop was slower than the 0.6 per cent slide recorded in June, but nevertheless deviated from the general uptrend in the first five months of the year. The decline was recorded in a month marked by political tension that reached a fever pitch in the city as protests over the widely feared but… Source link

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More banks are predicting Hong Kong’s home prices to decline, as persistent public unrest sours moods and crimp transactions

Hong Kong’s property prices are poised to decline by 10 per cent through March 2020, as the economy shrinks this year, according to a forecast by Morgan Stanley, the first bank to predict a contraction as street rallies across the city extend into their 12th week.The “key drags” of the economy include “continued trade tension, disruption to economic activity due to unrest, as well as a potentially higher Hibor, which are likely to lead to broad-based slowdown in consumption, investment and… Source link

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China 

‘Risks still too big’ for China to send in troops to quell Hong Kong unrest

The unrest in Hong Kong does not yet warrant direct intervention by Beijing despite hardening public sentiment and calls for tougher action in mainland China, according to Chinese government advisers.Shi Yinhong, an international relations expert at Renmin University and an adviser to the State Council – China’s cabinet, said China would risk damaging its ties with the United States and other major foreign powers, upsetting its own development and losing Hong Kong’s special status if it took… Source link

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Bitter unrest in Hong Kong prompts city’s ultra rich to look into packing up and relocating their families to the US

Hong Kong’s super rich are increasingly looking to buy homes in the US and relocate there, having grown tired of local protests, moderating growth in the region, and escalating US-China tensions, according to Edward Mermelstein, a wealth management consultant based in New York.His firm, One & Only Realty, handles relocation and related business including luxury property investment starting at US$10 million.Over the past two weeks, his company has received four inquiries from Hong Kong clients… Source link

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Far East picks up the smallest land plot at Kai Tak at discount, as public unrest deters developers from long-term investments

Hong Kong’s government sold the smallest land parcel at the former Kai Tak airport at a discount to market expectations, as the city’s 10 consecutive weeks of public unrest deterred developers from committing to long-term investments.The commercial site, located next to the Kai Tak Sports Park built over the former airfield, sold for HK$2.45 billion (US$312 million), 9.4 per cent less than the lower end of the HK$2.7 billion to HK$3.6 billion range that valuers were looking for. Far East… Source link

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