In China today, many identify with Huang’s consumption mentality, with domestic gold prices reaching new highs last year, and the retail market witnessing a gold rush. 01:31 Chinese consumers sell off old jewellery amid record high gold prices Chinese consumers sell off old jewellery amid record high gold prices And as China’s stock market struggles
Chinese asset management giant Zhongzhi Enterprise Group has filed for bankruptcy and was unable to pay its debts, a Beijing court said on Friday. The development comes weeks after police opened an investigation into the group after the debt-ridden financial behemoth declared itself insolvent. According to a statement published by a Beijing court on WeChat,
The site of a real estate building under construction in Huai ‘an city, Jiangsu province, China, December 26, 2023. CFOTO | Future Publishing | Getty Images China is facing the prospect of a long-drawn correction in its property sector, with the overhang in the housing inventory likely to take more than 10 years to clear,
[The content of this article has been produced by our advertising partner.] By Professor Veronique J.A. LAFON-VINAIS Associate Professor of Business Education, Department of FinanceHKUST Business School Family businesses include a wide range of businesses from small owner operations to large listed companies, which are significant contributors to the economies of Asia and the world. According
Goldman Sachs Asset Management has expanded to biotech investments in recent years. The investment firm is now preparing to ramp up its investment activity in the sector with a new $650 fund, its first one dedicated to the life sciences. Goldman on Wednesday announced the final close of the new fund, called West Street Life
Read the full story here. 2. China’s shipping containers pile up at overcrowded port as overseas orders dwindle (Ji Siqi – February 20, 2023) Empty containers at Yantian Port in Shenzhen. Photo: Ji Siqi Although the Lunar New Year holiday ended weeks ago, not all truck drivers in Shenzhen are back to work. On the
Liu Jianguo, a 47-year-old teacher in the second-tier city of Guiyang, considers himself lucky. He lives in a sliver of China where the property market isn’t withering. “I have friends in the big cities,” he said. “They are aware they’re in a bad place for buying or selling real estate.” New home prices in China’s
Bitcoin and other cryptocurrencies were mixed Wednesday as traders took stock of the recent rally, and appeared to be waiting for more catalysts ahead of expected regulatory approval of exchange-traded funds that hold Bitcoin. Bitcoin has traded up 0.4% over the last 24 hours to $42,726. The largest cryptocurrency has largely traded in a range
The prices of gold, silver and platinum may all be beginning to enjoy tailwinds due to weakening global economic growth, stabilising rate hikes, geopolitical tensions and growing industrial demand, according to the World Bank. In September, the bank’s precious metals index hit 146.6. “Wars remind us how connected all countries and markets are – the
Cross-border payment experts said innocent money remitters in Singapore were likely caught up in increasingly common money laundering raids by Beijing that freeze Chinese accounts as part of their investigations. China has been stepping up its crackdown on money laundering activities by criminals such as scammers who use “money mules”, third party individuals or company