Beijing has announced 300 billion-yuan in funds to help clear excess housing inventory, as well as measures to ensure developers have access to financing and that homes are delivered on time.
The mainland’s e-commerce sector achieved a 12 per cent overall growth in the March quarter, according to data from JPMorgan.
He Lifeng stressed the need to ‘carry on the battle’ to surmount the risks that unfinished and unconstructed homes represent, as the health of the property market is tied closely to social wellness and economic development.
Hong Kong stocks were lifted by signs corporate earnings may have bottomed out, and after Beijing delivered a batch of property support measures.
A High Court in Hong Kong has adjourned the hearing on a winding-up petition against Country Garden to June 11, giving the developer more time to reorganise its finances as Beijing steps up efforts to revive the housing market.
The Beijing-based company reported US$36 billion in first-quarter sales, beating analysts’ estimates.
China’s search engine and AI giant saw revenue grow 1 per cent in the first quarter, while net income fell 6 per cent but was better than estimates.
Developer stocks rose on Thursday after authorities in Hangzhou announced plans to buy unsold homes, but analysts question whether such aid is the best way to rescue the market.
Temu often fails to provide consumers with crucial information about the sellers on its platform and safety standards of products, according to the complaint.
Saudi Arabia’s Public Investment Fund and Michael Burry’s Scion Asset Management increased their holdings of Chinese large caps, while Singapore’s Temasek reduced its stock holdings.
France is Xpeng’s tenth European market and comes after launches in Spain and Portugal last month. It will market the G9 and G6 SUVs and will also set up a sales and service network with local distributors.
Kingland Systems is closing its first subsidiary outside the US and sacking its entire local workforce, sources say.
Chinese electric vehicle (EV) maker Nio plans to stay on the sidelines amid a bruising price war in the sector, even after it launched a new mass-market brand to target budget-conscious consumers.
Hong Kong stocks rally continues after China unveils more property support measures with gains supported by hopes the Federal Reserve will start cutting interest rates later this year.
Facilities capable of producing 70,000 to 100,000 tonnes of green methanol from leftover food will be ready by the end of 2025, Shi Pingyang, vice-president of Shenergy, told reporters on Wednesday.
Nio has launched a new electric vehicle brand – Onvo – targeted at China’s cost-conscious middle-income consumers amid fierce competition in the world’s largest EV market.
About 20 million consumers on the mainland are expected to take part in the nationwide trade-in programme via JD.com’s platform.
Bridgewater Associates, the world’s biggest hedge fund slashed its holdings drastically in the first quarter in a move may have been too hasty and caused it to miss out on the recent bull run.
ByteDance’s aggressive pricing for its Doubao large language model family shows the increased opportunity in mainland China, where more firms are scrambling to adopt GenAI tools.
Alibaba Group Holding’s primary dual listing in Hong Kong could open the doors for China’s 210 million investors to buy a stake in the US$400 billion behemoth.
Chinese smartphone maker Xiaomi has become the country’s eighth-largest EV upstart after selling more than 7,000 units of its SU7 sedan in April, according to industry data.