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Greater Bay Area: Business, Property & Tech

Amazon is inviting Chinese merchants onto its new budget-shopping platform. Photo: AFP
Amazon

Amazon invites Chinese sellers to new bargain marketplace Haul

The US e-commerce giant is aggressively promoting its new budget-shopping platform this holiday season to take on Temu and Shein.

Shenzhen

Shenzhen’s soaring R&D spending rivals Beijing, dwarfs Hong Kong

Hong Kong economy

Hong Kong urged to deepen bay area ties, help region’s firms expand abroad

Artificial intelligence

The fight for AI talent heats up in China

The scarcity of AI talent has set off a recruitment battle, with companies offering above-average pay to woo the right candidate.

Demand for AI talent continues to surge in China. Photo: AFP
Family offices

Hong Kong tycoon Peter Lee looks for good karma in green investments

The Towngas chairman and devout Buddhist hopes to create a more sustainable future through his family office investments.

Apple

Apple opens lab in China amid fierce competition with Huawei

The new facility in the Hetao Shenzhen-Hong Kong tech cooperation zone is one of several Apple research centres in China.

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Banking & finance

Banks set to prosper as Hong Kong expands wealth, fintech opportunities

Hong Kong’s efforts to regain its top hub status will prosper lenders as opportunities abound in wealth and fintech sectors and the bay area.

Panelists at the Hong Kong Institute of Bankers conference on September 27, 2024. Photo: Jonathan Wong
IPO

Midea’s Hong Kong IPO sizzles as shares soar in blockbuster sale

The Foshan-based company raised HK$31.01 billion last week, after offering its stock at HK$54.80 a share, at the top end of an expected price range.

Greater Bay Area

Exclusive | Macau neighbour Hengqin eyes Chinese medicine, technology for development

‘Hengqin has cheap land, low tax for both corporations and individuals, and a good living environment,’ official says.

Banking & finance

Regulatory support, connector role a boon to Hong Kong’s med-tech hub ambition

InvestHK has assisted nine medical technology companies to set up or expand their businesses, attracting US$7.7 million of investments.

Tai Po InnoPark’s purpose-built facilities offers space for med-tech companies to set up shops in Hong Kong. Photo: Wilson Lau
China property

Greater Bay Area home sales surged in June after property market rescue package

Demand for new homes in the Greater Bay Area rebounded last month after Beijing’s historic measures to rescue the property sector took effect. However, a meaningful recovery in prices will take time amid economic headwinds, says Cushman & Wakefield.

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Shenzhen saw a strong rebound in transactions last month, having eased home-purchasing restrictions and lowered mortgage rates to lure buyers late in May. Photo: Martin Chan
Banking & finance

Exclusive | Chinese money manager expands Hong Kong office, eyes Japan to meet client needs

Hong Kong is crucial to Noah’s globalisation plans, as many of its customers see the city as the first stop in their globalisation journey, CFO Grant Pan Qing says.

Banking & finance

UK firms rush to set up, expand Hong Kong operations in first half: InvestHK

The UK was the third-largest source of cross-border investment after mainland China and the US in the first half of the year, according to InvestHK.

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Bonds

China’s top insurer Ping An seeks US$3.5 billion via convertible bond sale

Company joins a raft of Chinese firms including JD.com, Alibaba and Trip.com in tapping the cheaper funding source amid high interest rates.

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The logo of Ping An Insurance is seen at a Beijing event in April 2018. Photo: Reuters
Banking & finance

Hong Kong to enhance cross-border transfers to support retirees

Hong Kong’s monetary authority plans to sign an agreement with the Chinese central bank to find ways to enhance cross-border remittance services to make it easier for Hongkongers who work or retire on the mainland.

A sign of digital yuan (e-CNY) during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijng on Sept. 5, 2021. Photo: Xinhua
Hong Kong property

New World sells Qianhai tower stake to its parent for US$198 million

The conglomerate sold a 30 per cent stake in the North tower of the Shenzhen Qianhai Chow Tai Fook Finance Centre to parent Chow Tai Fook Enterprises.

Artificial intelligence

Hong Kong unicorn SmartMore is the city’s new hi-tech poster child

Established by a Chinese University of Hong Kong professor in 2019, SmartMore has been tasked with boosting the city’s technology ecosystem.

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China's economic recovery

Rich regions eye Greater Shanghai Metropolitan Area, but is it a bridge too far?

An ambitious plan, months in the works and still being drafted, involves 14 cities around eastern China’s Yangtze River Delta, and ‘heated debate’ reflects a daunting bid for regional synergy.

A new regional development plan could slash commute times between Shanghai and 13 regional cities, including Wuxi (pictured) in Jiangsu province. Photo: Xinhua
Banking & finance

OCBC investing US$192m in Hong Kong, Macau to support business growth

The Singaporean lender’s digital banking capability will increase substantially and lead to greater use of AI and machine learning in its products and services, CEO Helen Wong says.

Hong Kong property

Hong Kong property: policy support seen weakening home attainability measures

Hong Kong’s efforts to shore up property prices are bad news for residents seeking to own their first homes in the city. It may take longer to attain the target.

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Shenzhen

Hong Kong, Shenzhen begin cross-border credit checks in pilot trial

A new data-verification platform will test Beijing’s plan to keep watch on cross-border data flows without disrupting normal business operations.

A view across the Hong Kong-Shenzhen border. Photo: SCMP/May Tse
Hong Kong property

New generation takes charge at Hang Lung Group as stalwart Ronnie Chan retires

Adriel Chan, 41, succeeds his father Ronnie Chan as chairman of Hang Lung Group, one of Hong Kong’s biggest commercial landlords.

Ronnie Chan Chi-chung poses for a photo at Asia Society in Admiralty, Hong Kong in March 2023 Photo: Jonathan Wong
Hong Kong property

Hong Kong developer prices Ho Man Tin project at 8-year low as buyers return

Hong Kong developers are pricing new flats at a deeper discount as the property market attempts to rebound from a multi-year slump. Great Eagle is joining the fray with discounts at its project in Ho Man Tin.

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Greater Bay Area

Top global universities look to Hong Kong and rest of Greater Bay Area for I&T

Universities from around the globe examine collaborations with research and education institutions in the Greater Bay Area.

Greater Bay Area

Greater Bay Area firms’ expertise will drive EV growth in China: Xpeng, BYD

Smart technology such as autonomous parking systems and the wide availability of superfast battery charging infrastructure will drive a boom in EV sales over the next five years, according to two of the segment’s leading manufacturers.

Xpeng’s Brian Gu at the Milken Institute’s Global Investors’ Symposium in Hong Kong on Tuesday. Photo: Bloomberg
Banking & finance

China economy has underlying strengths to attract global investors: officials

Global investors should focus on long-term opportunities in China and take advantage of Hong Kong’s role as a ‘superconnector,’ according to officials and executives from UBS and Primavera Capital.

Financial Secretary Paul Chan attends the Milken Institute’s Global Investors’ Symposium in Hong Kong on March 26, 2024. Photo: SCMP
Hong Kong property

Wang On set for busiest year as developer seizes Hong Kong market rebound: CEO

Wang On Properties will be launching the most new projects since it was listed eight years ago, CEO Nick Tang Ho-hong says. Policy support and potential rate cuts later this year will lift home and rental prices.

Greater Bay Area

Hong Kong’s hiring market to remain soft amid challenging economic outlook: KPMG

Just over a quarter of companies in Hong Kong expect to add staff this year, while some 16 per cent expect to cut headcount, KPMG survey shows. Many candidates are eyeing the Greater Bay Area as an alternative.

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Greater Bay Area: Business, Property & Tech
The "Greater Bay Area" refers to the Chinese government's scheme to link the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing into an integrated economic and business hub.
last updated:
24 July, 2024
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