Chinese property developer Country Garden said on Friday it had reached an agreement with a key bondholder group and was close to finalising negotiations
Hong Kong leader John Lee said on Tuesday the city would sign more free trade pacts to diversify its risk amid a global trade war triggered by what
An expected delay in a key step in CK Hutchison's planned sale of its Panama ports to a U.S. group, a deal blasted by Chinese media, highlights
Hong Kong's CK Hutchison will not sign a deal next week to sell its two port operations near the Panama Canal to a BlackRock-led group,
CK Hutchison's shares fell on Friday after it reported weak earnings and dividends, while pro-Beijing newspaper published a fresh editorial saying the firm's
CK Hutchison on Thursday reported an 11% drop in underlying profit for 2024, as one of Hong Kong's most powerful conglomerates becomes increasingly embroiled in a
Hong Kong is opposed to "bullying tactics" by foreign governments, the city's leader said on Tuesday when asked about conglomerate CK Hutchison's port deal with U.S.
Hong Kong-based conglomerate CK Hutchison, which is facing pressure from Beijing authorities over a port deal with a BlackRock-led consortium, will not hold earnings
China's Hong Kong and Macau Affairs Office (HKMAO) reposted a commentary criticising CK Hutchison's port deal with U.S. firm BlackRock as a betrayal
Hong Kong's edge as a financial hub will erode further as the city becomes embroiled in China-U.S. tensions, with the flash
U.S.
New World Development's shares and bonds rallied on Monday after the major Hong Kong developer said it would increase cash flow and cut debt, but analysts said a more
New World Development, one of the biggest property developers in Hong Kong, reported an interim net loss of HK$6.63 billion ($852.45 million) on Friday, following a
Hong Kong aims to cut spending by slashing 10,000 civil service jobs in an effort to rein in a rising deficit, and plans a big AI push as it
Key tools China introduced last year to stabilise the property market are making very little impact, pressuring Beijing to find new
Greentown China said on Tuesday it will issue additional dollar bonds worth $150 million to help refinance its existing borrowings, after offering the
China Vanke's bonds gained on Monday after the state-backed developer said it would redeem its 2027 notes worth 1 billion yuan ($137.68 million)
After numerous measures to resolve a liquidity crisis in the property market in recent years, Beijing is expected to end up dusting off an old
China's Country Garden expects to reach terms with creditors next month regarding the restructuring of $16.4 billion in offshore debt, and apply for court approval of
Shares of China’s largest private property developer Country Garden plunged to a record low on Friday after it forecast a first-half loss of up to $7.6 billion and a media report said it was preparing for a debt restructuring. The firm, which had total liabilities of about $194 billion at the end of 2022 and large exposure to lower-tier cities, is expected to kick off a restructuring process soon, Chinese news outlet Yicai said. China International Capital Corporation (CICC) has been hired as a financial adviser to lead the restructuring, the report added. Country
Fears that Chinese property giant Country Garden was preparing for a debt restructuring sent its securities to a record low on Friday and deepened concerns about the property sector outlook in the absence of stronger support from Beijing. The country’s top private property developer, which had total liabilities of about $194 billion at the end of 2022 and large exposure to lower-tier cities, is expected to kick off a restructuring process soon, Chinese news outlet Yicai said, citing an unnamed financial source. Country Garden on Thursday warned it could report a loss of up
Shares of China Evergrande Group shed 86.7% early on Monday when trading resumed following a 17 month suspension, after saying it had “adequately” fulfilled all guidance issued by the Hong Kong Stock Exchange. Evergrande, the world’s most-indebted property developer, is at the centre of a crisis in China’s property sector that since late 2021 has seen a string of debt defaults. Its shares listed in Hong Kong traded as low as HK$0.22 on Monday, with its market capitalisation shrinking to HK$3.2 billion ($408.02 million). The stock had been suspended since March 21, 2022. Its
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