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Yulu Ao
Reporter, Business
Yulu Ao joined SCMP in 2022 as a business reporter. She previously covered business trends across the Greater Bay Area with topics including financial market, healthcare, aviation, etc. She holds a master's degree in journalism from the University of Hong Kong. Before moving to Hong Kong, she interned in different roles at several news agencies in mainland China.
Developer is focused on liability management following a management shake-up in September to steady the ship, chairman Henry Cheng says.
Homeowners will not have to pay value-added tax when reselling their property after two years.
The capital of southern Guangdong province is saddled with 13.2 million square metres of unsold homes, which will require 22 months to clear.
Robust sales in October have depleted supply, with many cities to experience a 20 per cent drop on average in November, research institute says.
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Prices across 70 cities fell for the 17th month in October, but at a slower pace, suggesting support measures may be stabilising the market.
Owners seize upon market optimism amid rate cuts and easing restrictions before a supply glut and uncertain economy derail sentiment.
IPO of Chinese auto-parts maker ranks second to Kwai Chung’s 2018 offering as the most coveted by Hong Kong retail investors.
For the first time since 2021, market forces will decide the worth of a plot, as well as the prices of homes built on the site.
Builder controlled by family of billionaire Kwek Leng Beng says move represents its ‘confidence in China’s long-term growth prospects’.
While China’s September stimulus blitz has restored US$4 trillion of value to stock markets, the wealth effect in the property sector is less obvious and immediate.
Average weekly and monthly sales this month have risen substantially versus volumes before Beijing’s September 24 rescue package.
CSRC Chairman Wu Qing solicited feedback from financial specialists and media representatives, according to a readout on the watchdog agency’s website.
Companies experienced a surge in showroom visits during China’s ‘golden week’ holiday earlier this month.
Buyers snapped up more than 300 of 504 new flats across Blue Coast II in Wong Chuk Hang and Cullinan Sky in Kai Tak on Saturday.
New home prices in September fell 6.1 per cent year on year in 70 mainland cities, widening from a 5.7 per cent slump in August.
HKMA allows buyers to borrow up to 70% of a property’s value, with the aim of reviving the market where prices have declined by 6.2% in the year’s first eight months.
Anticipated growth of 50 per cent will drive 2024 cross-border investments to about US$48 billion, according to Knight Frank.
Analysts question sustainability of gains given uncertainty surrounding the government’s plans for future stimulus.
Developers still need to offer discounts as market purchasing power is still not sufficient, according to Martin Wong at Knight Frank.
Zhejiang province’s capital lifts price restrictions for homes built on newly acquired land and cuts initial payments for new and used homes.
State-backed China Resources Land said it would withdraw the 2 per cent discounts for all its residential projects in Beijing.
Transactions of new homes jumped 27 per cent from a year earlier in an index that tracks deals across 25 mainland cities.
Strong sales in Shenzhen during the week-long holiday reflect the impact of recent wide-ranging stimulus measures rolled out by Beijing.
Wealthy buyers snap up homes in prime locations amid renewed optimism driven by relaxed purchase restrictions and lower mortgage rates.
Guangzhou is setting the tone for policy deregulation across the country, says Yan Yuejin of E-house China Research and Development Institute.
Chinese homeowners hailed Beijing’s decision to cut mortgage rates by a half-point, though some believe the move will not spark a recovery.
Founder Guo sold 16.38 per cent of the developer to little-known Abu Dhabi-based ‘strategic investor’, trimming his own stake to 13.31 per cent.
Hong Kong court adjourns hearing until December 23 as developer plans parallel restructuring efforts in the city and the UK.
A local regulator in Anhui province is investigating the top-earning live-streamer for misleading consumers in a Mid-Autumn Festival sale.
Potential rate cuts could drive more money into the underinvested living sector in Asia-Pacific, CBRE says.
