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How Shimao’s sale of 2 hotels reveals the growing complexity of Hong Kong debt workouts

The HK$2.7 billion (US$344 million) sale of two Shimao Group hotels in Hong Kong leaves an estimated HK$1.8 billion shortfall against their secured loans. Still, receivers managed to squeeze out improved bids in the final stages, with all shortlisted parties improving their offers, said Una Ge, a managing director a…

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New levy on non-EU parcels kicks in on Sunday in a bid to curb the influx from China

The European Union will from Sunday slap a €2 (US$2.25) handling fee on packages from outside the 27-nation bloc in a bid to curb the influx from China. The new levy – coming just weeks before the Black Friday, Cyber Monday and Christmas season shopping rushes – will be on top of the EU’s €3 fee on small parcels. Th…

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Beijing softens on EU curbs to avoid blame for Europe’s unrest

The European Union is preparing to extend its curbs on Chinese imports of chemicals, furniture and machinery to fight a “China Shock 2.0,” after Beijing agreed in closed-door talks earlier this month to cap its hybrid car exports to the bloc. The European Commission plans to use safeguard measures to cut imports of …

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Two new bridges show China and Russia competing for North Korea

China and Russia opened new bridges to North Korea a month apart, a sign that the two countries are competing for the favor of North Korean leader Kim Jong Un. The Yalu River bridge to China sat unused for more than a decade after its completion in 2014, until Russia began rewarding North Korea for […] The post Two …

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Hong Kong’s South China Morning Post shines at Asian Media Awards with 6 prizes

The South China Morning Post has won six prizes at the World Association of News Publishers’ (Wan-Ifra) prestigious Asian Media Awards 2026 in Singapore, including a clean sweep for best news photography. The SCMP emerged as a big winner on Wednesday with five gold and one silver for its photojournalism, infographic…

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Win for Lula boosts China’s foothold and gives Brazil rare earths leverage

Brazilian President Luiz Inacio Lula da Silva’s re-election preserves Beijing’s most critical foothold in Latin America, while positioning Brasilia to leverage the US-China rivalry over its vast rare earth reserves without picking sides. Lula, 80, secured an unprecedented fourth term on Sunday after winning 51.8 per…

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Factory-gate prices are key barometer for China, but is the latest rebound a true recovery?

While the eyes of the world are fixed both on this week’s US Federal Reserve’s policy meeting and the trajectory of American inflation, observers of the Chinese economy are closely tracking a different metric: the producer price index (PPI). For the world’s manufacturing powerhouse, factory-gate prices have long ser…

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China’s tax offices issue disclosure orders as offshore asset grace period ends

Local tax bureaus across China are continuing to step up oversight following the expiration of the country’s grace period for the reporting of offshore trusts last Thursday, part of an ongoing push to spur voluntary tax disclosures. Municipal tax authorities in Beijing published notices for 21 individuals on the off…

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The right cat for China?

On the eve of a party plenum that has purged 45 of 376 members, China faces its most pressing question: is the model it has adopted right for its historical phase? Beijing is uncertain. Domestically, it faces many problems, and foreign examples offer little reassurance. If the US offers a positive model, Beijing mig…

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‘Passing down of the torch’ to young Asian Games winners bodes well for Hong Kong: John Lee

Hong Kong’s athletes were praised for producing “a beautiful harvest of medals” at this year’s Asian Games, and the success of the delegation’s younger members bode well for the future, the city’s leader said on Monday. A first tennis, a rugby sevens three-peat, combined with success on the water, in the pool, and o…

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Chinese biotech giant WuXi AppTec raises 2026 outlook after profit surge

WuXi AppTec raised its full-year revenue guidance after its net profit surged 62.4 per cent in the first nine months of 2026, while revenue rose 38.6 per cent on strong demand for its drug development and manufacturing services. The Chinese pharmaceutical research services provider’s net profit reached 19.16 billion…

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Apple iPhone Duo price premiums evaporate in China’s scalper market

Scalpers in mainland China are slashing prices on Apple’s newly released iPhone Duo after the US tech giant’s first foldable smartphone drew mixed early consumer reviews over durability and software glitches. In Shenzhen’s Huaqiangbei electronics market, a vendor surnamed Shen on Monday cut the premium on a black iP…

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