CX Daily: Four Things to Know About How China’s PE Funds Are Helping Revive Real Estate
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PE?/
China’s efforts to revive the country’s embattled real estate sector have?taken another step forward?with the opening of applications from private equity (PE) companies to set up property-focused investment funds.
The pilot program, announced Nov. 28 by the China Securities Regulatory Commission (CSRC), is one of?five new support measures?to help property developers access equity financing and restart stalled residential housing projects.?It ends a six-year ban on PE investment in residential projects in 16 major cities that was imposed to cool down the overheating property market. Investment outside those cities was still permitted.
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Taiwan?/
Beijing?reaffirmed?that Taiwan could adopt a social system different from that of the Chinese mainland and would “fully respect” the lifestyle of the island’s people after reunification?as long as China’s sovereignty, security and development interests were ensured.
The central government would also protect the private property, religious beliefs and lawful rights of Taiwan’s residents, said Zhu Fenglian, spokesperson for the Taiwan Affairs Office of the State Council.
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Videos?/
China’s short-video app users?rose 8.3% in 2022?to 1.012 billion,?a figure that makes up nearly 95% of all people with online access in the country,?according to a report released Wednesday.
The total also accounts for more than 70% of the country’s population at the end of 2022.
Users spent on average 168 minutes — or more than 2.5 hours — on the service last year,?according to the report, which was released at a convention co-hosted by the National Radio and Television Administration and the Sichuan provincial government.
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Yuan?/
China?completed?its first yuan-settled import of liquefied natural gas (LNG),?marking another milestone in the currency’s use in the global energy trade.
State-owned China National Offshore Oil Corp. bought the LNG from France’s?TotalEnergies?Tuesday, according to the official Xinhua News Agency.
The transaction involved more than 60,000 tons of the fuel from the United Arab Emirates and was completed on the Shanghai Petroleum and Natural Gas Exchange (SHPGX).
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AI?/
Chinese artificial intelligence leader?SenseTime?plans to launch its own chatbot model in mid-2023,?the company said, becoming the latest tech company to join the global rush sparked by OpenAI’s ChatGPT.
Hong Kong-traded SenseTime said it made major progress in natural language processing and successfully developed a large pretrained model which will be rolled out in the middle of this year.?The model has been trained with more than 100 billion parameters to improve the performance of text generation and human-computer dialogue,?SenseTime said Tuesday during its earnings call.
Property?/
China’s property giant?Country Garden Holdings Co. Ltd.?reported its first annual loss?since its Hong Kong IPO in 2007, highlighting the plight of the country’s builders amid a prolonged slump in the real estate sector plagued by sluggish home sales and a shortage of funds.
The Foshan-based developer logged?a net loss of close to 6.1 billion yuan ($885 million) in 2022,?a stark contrast to the previous year’s profit of 27 billion yuan, according to its?earnings report?released Thursday.
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Delisting?/
Aluminum giant?China Zhongwang Holdings Ltd.?will be delisted in Hong Kong?after the company didn’t report financial results since 2021 and failed to fulfill the exchange’s resumption guidance.
The Hong Kong Stock Exchange issued a letter March 24 informing the company of the delisting decision, Zhongwang Holdings said Tuesday in a statement. The last day of the listing will be April 12.?The company said it will not apply for a review of the decision.
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Quick hit?/
Hong Kong has opened two exhibitions to commemorate the 20th anniversary of the death of the city’s beloved singer-actor Leslie Cheung. The exhibitions feature the Cantopop star’s stage costumes, records and films, as well as artwork inspired by Cheung. After making his debut in a singing contest in 1977, the star released more than 40 albums and appeared in over 50 films during a 26-year career. On April 1, 2003, he committed suicide at the age of 46
Next Trend Realty LLC./wwwHar.com/Chester-Swanson/agent_cbswan
1 年Thanks for the updates on, China ????.