https://www-scmp-com.libproxy1.nus.edu.sg/rss/510796/feed News and analysis about China Evergrande Group, one of the country's biggest property developers by sales volume. Coverage includes Evergrande's real estate projects in mainland China and Hong Kong, as well as its forays into so-called new energy vehicles (NEVs), and its stake in the football club Guangzhou FC, known as the Guangzhou Evergrande Football Club until 2021. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Themis Qi Themis Qi The developer of The Vertex – a residential project in Cheung Sha Wan once owned by failed property giant China Evergrande Group – has been fined HK$770,000 (US$98,100) for failing to properly record transactions related to the complex. Twin City Holdings Limited was found to have violated a residential properties ordinance by failing to disclose details of payment terms – such as price discounts and other financial incentives – on sales at the development, according to a government statement... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3369241/vertex-developer-hit-hk770000-fine-over-disclosure-failures?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3369241/vertex-developer-hit-hk770000-fine-over-disclosure-failures?utm_source=rss_feed Tue, 29 Sep 2026 14:12:33 +0000 David Tingxuan Zhang David Tingxuan Zhang Late August marked something of a watershed moment for China’s embattled property sector, now in its sixth year of decline. It began with Chinese courts kicking off proceedings to liquidate the onshore business of China Evergrande Group – the collapsed property giant that came to epitomise China’s property debt bubble – and sentencing its founder Hui Ka-yan to life imprisonment over financial crimes. An unusually coordinated series of official announcements followed in days. The central bank,... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3365963/why-china-wont-ban-housing-presales-outright?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3365963/why-china-wont-ban-housing-presales-outright?utm_source=rss_feed Sun, 06 Sep 2026 12:30:05 +0000 Zhu Wenqian Zhu Wenqian With the saga surrounding Evergrande founder Hui Ka‑yan ending in his life sentence and the ongoing financial struggle of mainland developers, analysts said challenges remained for troubled operators getting away from the vicious cycle of a sluggish property market, even though risk resolution had largely been completed for some cases. Despite the difficulty, better-capitalised state-owned enterprises would prove more resilient and should gain market shares amid uncertain earnings outlooks, they... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366070/after-evergrande-chinas-new-rules-spark-unease-amid-developers-debt-resolution-progress?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3366070/after-evergrande-chinas-new-rules-spark-unease-amid-developers-debt-resolution-progress?utm_source=rss_feed Sun, 06 Sep 2026 01:00:08 +0000 Mike Chan Mike Chan Football in China is being run by people without the skill to do so, as those with talent sit on the sidelines, former international Li Weifeng has said in a withering assessment of the game in the country. Speaking during a live stream on social media, Li, who stopped playing in 2015, said the decision to axe head coach Bora Milutinovic, who guided China to their only Fifa World Cup appearance to date in Japan and South Korea in 2002, was a classic case in point. Rather than being rewarded with... https://www-scmp-com.libproxy1.nus.edu.sg/sport/football/article/3365706/chinese-football-run-people-wrong-skills-talented-ones-miss-out-li-weifeng-says?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/sport/football/article/3365706/chinese-football-run-people-wrong-skills-talented-ones-miss-out-li-weifeng-says?utm_source=rss_feed Sat, 29 Aug 2026 10:06:00 +0000 Enoch Yiu Enoch Yiu The liquidators of collapsed developer China Evergrande Group have won a legal victory against PricewaterhouseCoopers (PwC) International, indicating that the firm and two other units of the accounting giant would need to jointly face the largest corporate lawsuit claims in Hong Kong, according to a court judgment on Wednesday. Deputy High Court Judge Patrick Fung Pak-tung rejected the application by PwC International to be dismissed from the lawsuits involving claims by the liquidators of China... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365340/pwc-international-must-face-trial-evergrande-scandals-claims-hong-kong-high-court?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365340/pwc-international-must-face-trial-evergrande-scandals-claims-hong-kong-high-court?utm_source=rss_feed Wed, 26 Aug 2026 10:44:23 +0000 SCMP Editorial SCMP Editorial The sentencing of China Evergrande Group founder Hui Ka-yan to life imprisonment, accompanied by the punishment of more than 50 other individuals, brings a sombre conclusion to the saga of what was once the world’s most indebted property developer. While this case marks a significant moment in the ongoing volatility of the mainland property market, it serves primarily as a stark lesson on the limits of corporate survival and the absolute necessity of business integrity. It is important to... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3364950/china-evergrande-founders-fall-warning-private-sector?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/comment/article/3364950/china-evergrande-founders-fall-warning-private-sector?utm_source=rss_feed Sun, 23 Aug 2026 23:15:09 +0000 Stephy Zhang Stephy Zhang The sports empire created by Hui Ka-yan has crumbled, changed hands or struggled to survive alongside the downfall of China Evergrande Group. On Thursday, the former tycoon and controlling shareholder of Evergrande was sentenced to life imprisonment by the Shenzhen Intermediate People’s Court for multiple offences. It brought an end to an era for the real estate giant he founded 30 years ago in Guangzhou, sealing a collapse that inevitably engulfed the sports empire built on its fortunes. Hui... https://www-scmp-com.libproxy1.nus.edu.sg/sport/china/article/3364885/demise-hui-ka-yans-china-evergrande-group-engulfs-sports-empire-built-its-fortunes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/sport/china/article/3364885/demise-hui-ka-yans-china-evergrande-group-engulfs-sports-empire-built-its-fortunes?utm_source=rss_feed Fri, 21 Aug 2026 14:03:47 +0000 Yulu Ao Yulu Ao While investors saw Beijing’s holdings of US government debt shrink and US Treasuries yield rise, a life sentence for China Evergrande Group founder Hui Ka-yan marked a symbolic end to an era of breakneck expansion in the country’s property sector. Here are some of the figures that have drawn the most market attention this week. An 8.82 billion yuan fine for Hui Ka-yan’s Evergrande A Shenzhen court sentenced China Evergrande Group founder and former chairman Hui Ka-yan, also known as Xu Jiayin,... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3364759/evergrandes-us131b-fine-china-cuts-us-treasury-holdings-numbers-moving-markets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3364759/evergrandes-us131b-fine-china-cuts-us-treasury-holdings-numbers-moving-markets?utm_source=rss_feed Fri, 21 Aug 2026 07:00:07 +0000 Daisy Wu Daisy Wu A court in southern China’s Guangdong province formally accepted a bankruptcy liquidation petition against China Evergrande Group’s main onshore unit, closing the final chapter in the unravelling of what was once the country’s largest property developer. The Guangzhou Intermediate People’s Court said on Friday that Guangzhou Rural Commercial Bank’s Huaxia branch met the legal criteria under the nation’s Enterprise Bankruptcy Law to force the Evergrande unit, Hengda Real Estate, into liquidation,... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3364786/chinese-court-accepts-evergrande-liquidation-petition-1-day-after-founders-life-sentence?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3364786/chinese-court-accepts-evergrande-liquidation-petition-1-day-after-founders-life-sentence?utm_source=rss_feed Fri, 21 Aug 2026 06:21:11 +0000 SCMP SCMP We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Chinese team aims to put ‘smart’ diabetes probiotic on US shelves within 2 years Chinese researchers have engineered a probiotic that could make diabetes care as simple as drinking a cup of yoghurt or swallowing a capsule. 2. Saga of... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3364744/chinas-smart-diabetes-probiotics-life-sentence-hui-ka-yan-scmps-7-highlights?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/3364744/chinas-smart-diabetes-probiotics-life-sentence-hui-ka-yan-scmps-7-highlights?utm_source=rss_feed Fri, 21 Aug 2026 04:15:08 +0000 Zhu Wenqian,Ji Siqi Zhu Wenqian,Ji Siqi A court in Shenzhen has sentenced China Evergrande Group founder and former chairman Hui Ka-yan to life imprisonment for “multiple combined crimes”, confiscating all of Hui’s personal property. Meanwhile, Evergrande was fined 8.82 billion yuan (US$1.31 billion), while its onshore operating unit Hengda Real Estate was fined 7 billion yuan – some of the biggest corporate fines ever levied by a Chinese court in a criminal case. The 67-year-old Hui, also known as Xu Jiayin, was also deprived of... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3364641/china-evergrande-founder-hui-ka-yan-sentenced-life-imprisonment?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3364641/china-evergrande-founder-hui-ka-yan-sentenced-life-imprisonment?utm_source=rss_feed Thu, 20 Aug 2026 04:27:39 +0000 Brian Wong Brian Wong Hong Kong’s securities market regulator has defended a HK$1 billion (US$128 million) settlement with an accounting firm at the centre of an auditing scandal involving developer China Evergrande Group, saying it has unfettered powers to enforce discipline and a duty to protect the interests of independent investors. In a judicial review hearing on Wednesday, lawyers for the Securities and Futures Commission (SFC) asked the High Court to dismiss a challenge by the developer’s liquidators, who are... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3364592/evergrande-liquidators-challenge-watchdogs-hk1-billion-settlement-auditor-pwc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/law-and-crime/article/3364592/evergrande-liquidators-challenge-watchdogs-hk1-billion-settlement-auditor-pwc?utm_source=rss_feed Wed, 19 Aug 2026 12:29:17 +0000 Zhu Wenqian Zhu Wenqian From shopping malls to warehousing and logistics companies, a wave of deals by foreign funds in China is injecting liquidity into a property sector scarred by years of struggle. Several Wanda Plazas – the sprawling mixed-use developments that were once the flagship assets of tycoon Wang Jianlin’s Dalian Wanda Group – received fresh capital injections from global asset manager PAG in June and July. The cash-strapped developer has been forced to offload properties to repay debt. Such deals,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364091/foreign-capital-dipping-its-toes-chinas-property-sector-rebound-store?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3364091/foreign-capital-dipping-its-toes-chinas-property-sector-rebound-store?utm_source=rss_feed Mon, 17 Aug 2026 02:00:11 +0000 Simpson Cheung Simpson Cheung A Hong Kong court has ruled in favour of embattled conglomerate Evergrande in a debt-recovery case, allowing it to recoup about HK$6 billion (US$764.7 million) from a third party after a judge found the borrower’s arguments against enforcement of the loan were “fabricated”. In a High Court judgment handed down on Friday and seen by the South China Morning Post, Judge Linda Chan dismissed an injunction application filed by Yingjia International Properties to restrain offshore entity State Hero... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3363693/evergrande-wins-hk6b-debt-recovery-case-after-court-rejects-fabricated-claims?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/society/article/3363693/evergrande-wins-hk6b-debt-recovery-case-after-court-rejects-fabricated-claims?utm_source=rss_feed Tue, 11 Aug 2026 15:00:24 +0000 Michael Han Michael Han Capital seeks sanctuary. In China’s property sector, however, that quest for safety had inadvertently erected a cage. The recent government takeover of Wuhan-based private lender Zhongbang Bank, expected to see a dilution of its private capital amid serious credit risks, is a calculated regulatory action. It echoes a larger and darker precedent. A few years ago, another commercial lender, Shengjing Bank, became caught up in the Evergrande debt crisis. There was speculation property developer... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3360683/why-china-must-end-lucrative-marriage-between-property-and-banks?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3360683/why-china-must-end-lucrative-marriage-between-property-and-banks?utm_source=rss_feed Sun, 19 Jul 2026 08:30:05 +0000 Huizhao Huang Huizhao Huang China is moving to sharply increase penalties for auditors who sign off on fraudulent corporate accounts, widening a campaign against financial fraud by listed companies. A draft amendment to the Certified Public Accountants Law – set for a second reading by the National People’s Congress Standing Committee, China’s top legislative body – would raise the maximum fine for issuing false audit reports to 10 times the gains accrued through fraud, double the present limit. It would also allow for... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3357954/china-moves-raise-penalties-auditors-fraud-campaign-deepens?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3357954/china-moves-raise-penalties-auditors-fraud-campaign-deepens?utm_source=rss_feed Tue, 23 Jun 2026 01:00:13 +0000 Daniel Ren Daniel Ren Expectations have heightened in major Chinese cities like Shanghai that home prices are bottoming out following a six-year property slump, as would-be buyers actively hunt bargains amid the recent policy easing. Brisk transactions are also shoring up brokers’ confidence in the market where the prices of some lived-in flats have almost halved from their peak. “Most of the buyers are not betting on a turnaround, they just feel that home prices are more attractive now as the authorities could... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3357835/buyers-hunt-bargains-amid-signs-chinas-home-prices-are-bottoming-out?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3357835/buyers-hunt-bargains-amid-signs-chinas-home-prices-are-bottoming-out?utm_source=rss_feed Sun, 21 Jun 2026 23:00:20 +0000 Enoch Yiu Enoch Yiu The liquidators of China Evergrande Group are in a legal battle with the city’s market regulator over its settlement agreement with PricewaterhouseCoopers (PwC) Hong Kong, claiming that the agreement leaves creditors HK$1 billion (US$128 million) worse off, according to a court document released on Monday. The writ filed with Hong Kong’s High Court seeks leave to apply for a judicial review of the Securities and Futures Commission’s (SFC) agreement with PwC Hong Kong and an order preventing the... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3357194/china-evergrande-liquidators-seek-judicial-review-sfc-agreement-pwc-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3357194/china-evergrande-liquidators-seek-judicial-review-sfc-agreement-pwc-hong-kong?utm_source=rss_feed Mon, 15 Jun 2026 12:26:13 +0000 Peggy Ye Peggy Ye The liquidators of China Evergrande Group are seeking 57 billion yuan (US$8.4 billion) from three PricewaterhouseCoopers (PwC) entities in one of the largest corporate lawsuit claims in Hong Kong, arguing the firm’s global coordinating arm assumed responsibility for audits linked to the collapsed developer’s accounting scandal. Evergrande’s liquidators, Tiffany Wong and Eddie Middleton of Alvarez & Marsal, were pursuing the claim against PwC International, PwC Hong Kong and PwC China jointly,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353983/evergrande-liquidators-seek-us84-billion-pwc-entities-hong-kong-lawsuit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353983/evergrande-liquidators-seek-us84-billion-pwc-entities-hong-kong-lawsuit?utm_source=rss_feed Mon, 18 May 2026 10:03:29 +0000 Enoch Yiu Enoch Yiu The liquidators of China Evergrande Group’s lawsuit against PricewaterhouseCoopers (PwC) International will have their case heard in the Hong Kong High Court on Monday, according to records posted on the judiciary’s website. The one-day hearing was scheduled before Deputy Judge Patrick Fung Pak-tung of the High Court and would be open to the public, the court information showed. It concerns efforts by Evergrande’s liquidators to seek claims from PwC International over the developer’s auditing... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3353860/hong-kong-high-court-hear-evergrande-liquidators-lawsuit-against-pwc-monday?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3353860/hong-kong-high-court-hear-evergrande-liquidators-lawsuit-against-pwc-monday?utm_source=rss_feed Sun, 17 May 2026 11:00:05 +0000 Enoch Yiu Enoch Yiu On a warm Saturday in early May, the kind of day most would choose to spend on a hike or at the beach, hundreds of Hongkongers instead stood for hours in a queue at Edinburgh Tower in Central. But despite the loss of a pleasant weekend afternoon, none would be likely to consider it time wasted. They were there claim their fair share of HK$1.5 billion (US$191 million) owed to independent shareholders of Giordano International in the largest settlement on record by the city’s Securities and... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3353713/hong-kong-market-regulator-takes-collection-agent-role-wronged-investors?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3353713/hong-kong-market-regulator-takes-collection-agent-role-wronged-investors?utm_source=rss_feed Sat, 16 May 2026 02:00:11 +0000 Zhu Wenqian Zhu Wenqian China’s bond market is facing rising re-defaults, driven by continued stress in the housing market, where years of government loosening and stimulus have yet to bring relief, according to a report by S&P Global Ratings on Monday. Since 2020, amid the crisis triggered by the default of China Evergrande Group – the world’s most indebted property developer – about 40 per cent of restructured onshore bonds have suffered re-defaults, the report said. The turmoil was later compounded by Country... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353172/chinas-bond-market-faces-climbing-re-defaults-property-crisis-drags?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3353172/chinas-bond-market-faces-climbing-re-defaults-property-crisis-drags?utm_source=rss_feed Mon, 11 May 2026 12:30:15 +0000 Frank Chen Frank Chen The long-standing rivalry between China’s two largest economic heavyweights – with each boasting a gross domestic product comparable to Group of Seven members Italy and Canada – reflects the regional dynamism and shifting economic gravity within the world’s second-biggest economy. Jiangsu has been threatening to end Guangdong’s uninterrupted reign as China’s largest provincial economy since the late 1980s, and the latest economic data reveals the gap between the two narrowed further in the first... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3351572/guangdongs-rule-chinas-gdp-king-faces-unprecedented-threat-crown?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3351572/guangdongs-rule-chinas-gdp-king-faces-unprecedented-threat-crown?utm_source=rss_feed Mon, 27 Apr 2026 12:30:14 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Securities and Futures Commission (SFC) has reached an agreement with PricewaterhouseCoopers Hong Kong (PwC HK) to pay HK$1 billion (US$128 million) in compensation to minority shareholders of China Evergrande Group, following what the regulator described as serious breaches of auditors’ professional duties. Separately, the Accounting and Financial Reporting Council (AFRC) imposed a HK$300 million fine and a six-month practice restriction on PricewaterhouseCoopers, along with HK$10... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3351148/pwc-pay-hk1-billion-minority-shareholders-over-evergrande-audit-failures?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3351148/pwc-pay-hk1-billion-minority-shareholders-over-evergrande-audit-failures?utm_source=rss_feed Thu, 23 Apr 2026 09:01:42 +0000 Mia Nurmamat Mia Nurmamat Property tycoon Pan Shiyi issued a rare critique of China’s real estate sector, describing its development model as a “Ponzi scheme” and urging the industry to restore integrity and better protect homebuyers, just days after a fraud trial saw a guilty plea from the founder of China Evergrande – the US$300 billion debt juggernaut whose 2021 collapse triggered a systemic property meltdown. Writing from the United States on Thursday via his personal WeChat account, Pan reflected on the trajectory... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3350448/tycoon-pan-shiyi-slams-china-property-ponzi-evergrande-boss-pleads-guilty?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3350448/tycoon-pan-shiyi-slams-china-property-ponzi-evergrande-boss-pleads-guilty?utm_source=rss_feed Fri, 17 Apr 2026 09:00:22 +0000 Zhu Wenqian Zhu Wenqian China Evergrande Group’s founder and former chairman Hui Ka-yan pleaded guilty to charges including embezzlement of corporate assets and corporate bribery, according to a statement issued by the Shenzhen Intermediate People’s Court. The trial was held on Monday and Tuesday, and the court said it would issue its judgment at a later date. The charges against Hui and Evergrande also included illegally absorbing public deposits, fundraising fraud, illegal loan issuance, fraudulent issuance of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3349990/founder-chinas-evergrande-group-hui-ka-yan-pleads-guilty-fraud-trial?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3349990/founder-chinas-evergrande-group-hui-ka-yan-pleads-guilty-fraud-trial?utm_source=rss_feed Tue, 14 Apr 2026 04:26:24 +0000 Daniel Ren Daniel Ren China’s more than 100,000 home furnishing companies - most of which are micro businesses - have entered a tumultuous phase as a property slump and persistent deflationary pressure prevent them from making profits. With no property resurgence in sight, the industry, which employs millions of labourers across the country, was likely to see thousands of players expelled from the highly competitive market this year, according to company officials and analysts. “Involution is the name of the game in... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed Wed, 18 Feb 2026 02:00:09 +0000 He Huifeng He Huifeng China’s premier manufacturing hub is recalibrating its economic ambitions, with policymakers in the industrial heartland of Guangdong setting a cautious growth target for 2026, signalling a strategic shift amid intensifying external pressures and internal regional imbalances. The southern province, bordering Hong Kong, expects its gross domestic product to grow between 4.5 and 5 per cent this year, its governor, Meng Fanli, said on Monday while delivering the annual government work report at the... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3341259/chinas-manufacturing-powerhouse-cuts-2026-gdp-growth-target-after-missing-mark?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3341259/chinas-manufacturing-powerhouse-cuts-2026-gdp-growth-target-after-missing-mark?utm_source=rss_feed Tue, 27 Jan 2026 00:00:08 +0000 Cao Li Cao Li Home prices in mainland China continued to decline at a rapid pace in December, posing challenges for an economy that is struggling to find new growth drivers. New home prices fell 0.4 per cent month on month on average across 70 cities, according to data from the National Bureau of Statistics (NBS) on Monday. The fall matched November’s drop and was among the steepest in more than a year. Prices slipped 3 per cent year on year in December, accelerating from a 2.8 per cent drop in November. Only... https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3340369/mainland-chinas-home-prices-extend-slide-adding-strain-struggling-property-sector?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/property/article/3340369/mainland-chinas-home-prices-extend-slide-adding-strain-struggling-property-sector?utm_source=rss_feed Mon, 19 Jan 2026 04:14:19 +0000 Cao Li Cao Li China’s top real estate developers continue to shrink, according to industry data. The number of mainland property developers achieving annual contracted sales of at least 100 billion yuan (US$14 billion) dropped to just 10 in 2025 from a peak of 43 in 2020, research firm China Real Estate Information Corporation (CRIC) said in a report on Sunday. Among the top 10 developers, only one, China Jinmao Holdings, reported year-on-year growth in sales, according to CRIC. The ranks of developers in the... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3338893/chinas-developers-diminish-further-amid-unending-property-downturn?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3338893/chinas-developers-diminish-further-amid-unending-property-downturn?utm_source=rss_feed Tue, 06 Jan 2026 07:30:11 +0000 Enoch Yiu Enoch Yiu Mainland China will cut or waive value-added tax (VAT) on the resale of homes by individuals from Thursday, in its latest move to shore up a property market that has been stuck in a prolonged slump. Under the new rules, individuals who sell a residential property within two years of buying it will pay VAT at 3 per cent, down from 5 per cent, according to a joint statement released on Tuesday by the Ministry of Finance and the State Taxation Administration. The policy does not apply to corporate... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3338209/beijing-trims-property-resale-tax-fresh-push-stabilise-housing-market?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3338209/beijing-trims-property-resale-tax-fresh-push-stabilise-housing-market?utm_source=rss_feed Tue, 30 Dec 2025 16:25:51 +0000 Xinyi Wu Xinyi Wu China has pledged to empower local governments with city-specific measures to clear housing gluts and optimise supply next year, ramping up efforts to stabilise a real estate market that remains a persistent drag on the world’s second-largest economy. “Municipal governments should fully utilise their autonomy in regulating the property market, adjusting and optimising policies as appropriate,” said Ni Hong, the minister of housing and urban-rural development, at a two-day work conference that... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3337512/china-vows-city-specific-fixes-clear-housing-glut-stabilise-property-sector?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3337512/china-vows-city-specific-fixes-clear-housing-glut-stabilise-property-sector?utm_source=rss_feed Tue, 23 Dec 2025 12:00:08 +0000 Bloomberg Bloomberg China Vanke, once the mainland’s biggest developer before it succumbed to an unprecedented property crisis, won last-minute support from creditors to extend a bond grace period in a reprieve that helps it avoid default, at least for now. Holders of Vanke’s 2 billion yuan (US$284 million) note voted in favour of a proposal to extend the grace period to January 28, according to a filing to Chinamoney.com on Monday. The company did not pay the security by its December 15 maturity, which left it in... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3337405/china-vanke-wins-bondholders-reprieve-averts-default-now?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3337405/china-vanke-wins-bondholders-reprieve-averts-default-now?utm_source=rss_feed Tue, 23 Dec 2025 01:28:24 +0000 Yulu Ao Yulu Ao China Vanke’s senior executives have no plans to reduce their personal shareholdings, according to the distressed mainland developer, which is seeking to extend the repayment of its onshore debt to avoid a default. The Shenzhen-listed developer on Thursday was responding to queries from investors on the exchange’s interactive platform, saying it had not received any notification from the executives regarding stake sale plans. Under the exchange’s rules, senior management were required to... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3337081/china-vanke-says-top-managers-have-no-plans-sell-shares-it-fights-survival?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3337081/china-vanke-says-top-managers-have-no-plans-sell-shares-it-fights-survival?utm_source=rss_feed Fri, 19 Dec 2025 11:15:10 +0000 Reuters Reuters China Vanke failed to secure bondholder approval to extend by one year a bond payment due on Monday, a filing showed, increasing the risk of default for the developer and renewing concerns about the crisis-hit property sector. The setback for state-backed Vanke, one of China’s highest-profile developers with projects in major cities, renews concerns about the property sector, where some of the country’s best-known developers have defaulted in recent years. The rejection in a three-day vote that... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3336379/vankes-bondholders-reject-extension-plan-2-billion-yuan-bonds-raising-default-risk?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3336379/vankes-bondholders-reject-extension-plan-2-billion-yuan-bonds-raising-default-risk?utm_source=rss_feed Sun, 14 Dec 2025 09:00:12 +0000 Julie Zhang Julie Zhang Hong Kong Exchanges and Clearing (HKEX) has launched its first equity index tracking Hong Kong-listed technology companies, underscoring the city’s ongoing shift from a market long dominated by property and finance towards innovation-driven growth. Unveiled on Tuesday, the HKEX Tech 100 Index tracks 100 large-cap and mid-cap companies spanning artificial intelligence, biotech and pharmaceuticals, electric vehicles and smart driving, information technology, internet, and robotics. Biotech... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3335684/hong-kong-launches-hkex-tech-100-index-pivot-towards-innovation-driven-growth?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3335684/hong-kong-launches-hkex-tech-100-index-pivot-towards-innovation-driven-growth?utm_source=rss_feed Tue, 09 Dec 2025 03:33:10 +0000 Cao Li Cao Li Mainland China’s falling property prices and a weak economy could lead to rising loan defaults, adding to a surfeit of foreclosed homes and further extending the years-long slump, according to UBS. The number of apartments seized by banks from small businesses could reach more than 2.4 million by 2027, said John Lam, head of China property research at the Swiss bank, on Tuesday. Most small businesses on the mainland pledge property as collateral for loans. The sale of these foreclosed properties... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3334940/china-property-crisis-ubs-predicts-24-million-foreclosures-2027-loan-defaults-rise?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3334940/china-property-crisis-ubs-predicts-24-million-foreclosures-2027-loan-defaults-rise?utm_source=rss_feed Wed, 03 Dec 2025 01:30:16 +0000 Alex Lo Alex Lo History does not repeat itself, as the saying goes, but it often rhymes. That very much depends on the kind of history being considered. If you are talking about real estate and the stock market, history absolutely repeats itself, almost like an eternal recurrence. Maybe it’s because greed and fear are ingrained in human nature. The claim that “this time is different” has been called the four most dangerous words in investment. Many people have been so frustrated and hurt by the prolonged slump... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3334330/chinas-extended-property-slump-was-always-expected?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/china-opinion/article/3334330/chinas-extended-property-slump-was-always-expected?utm_source=rss_feed Fri, 28 Nov 2025 21:30:08 +0000 Yulu Ao Yulu Ao Global ratings agency S&P has downgraded China Vanke, as the troubled developer grapples with mounting debt and fragile cash flow, raising concerns about a renewed liquidity crisis across the country’s real estate industry. S&P on Friday cut Vanke’s long-term issuer rating to CCC- from CCC and likewise lowered the long-term issue rating on senior unsecured notes of its Hong Kong subsidiary, marking the second downgrade for the developer in less than a month. All ratings were placed on... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3334541/china-vanke-hit-fresh-sp-downgrade-amid-mounting-default-concerns?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3334541/china-vanke-hit-fresh-sp-downgrade-amid-mounting-default-concerns?utm_source=rss_feed Fri, 28 Nov 2025 10:44:26 +0000 Cao Li Cao Li When the Hong Kong stock market closes at 4pm on Thursday, Joy City Property, the company behind the shopping malls bearing the same name across China, will quietly end its 12-year run as a listed company in the city. The company – the commercial property arm of one of China’s largest state-owned conglomerates, Cofco – will join more than 30 Chinese property firms that have exited Hong Kong and mainland exchanges since 2022, as a prolonged market downturn has strained their liquidity and pushed... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3334246/joy-citys-hong-kong-farewell-throws-chinas-property-strains-sharp-relief?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3334246/joy-citys-hong-kong-farewell-throws-chinas-property-strains-sharp-relief?utm_source=rss_feed Wed, 26 Nov 2025 23:30:09 +0000 Bloomberg Bloomberg John Lam, UBS’ head of China property research and a long-time contrarian, is retreating from his earlier bullish calls and joining his Wall Street peers in predicting that the country’s four-year real estate downturn is far from over. Lam said he expected home prices to fall for at least another two years before a recovery in mainland China’s beleaguered residential property market could take hold. One reason was that potential buyers were increasingly opting to rent properties while prices... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3333929/ubs-china-property-optimist-retreats-bullish-calls-foresees-deeper-slump?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3333929/ubs-china-property-optimist-retreats-bullish-calls-foresees-deeper-slump?utm_source=rss_feed Mon, 24 Nov 2025 08:34:04 +0000 Bloomberg Bloomberg China Evergrande Group’s famous log-cabin hotel in Quebec, Canada, has been placed in receivership after the defaulted real estate developer failed to make payments on its debt. Fairmont Le Chateau Montebello, which has hosted luminaries including Grace Kelly and Margaret Thatcher, would be put up for sale by PricewaterhouseCoopers LLP, the court-appointed receiver, according to documents filed this week on the accounting firm’s website. Evergrande’s collapse was by far the biggest in a property... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3333499/evergrandes-iconic-canadian-hotel-be-sold-after-default?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3333499/evergrandes-iconic-canadian-hotel-be-sold-after-default?utm_source=rss_feed Thu, 20 Nov 2025 05:16:44 +0000 Cheryl Arcibal Cheryl Arcibal Liquidators for the delisted China Evergrande Group have asked “selected bidders” to submit their offers by the end of the month for a property management unit they have been seeking to sell, according to a filing to the Hong Kong stock exchange on Friday. The deadline for the offer, as well as identifying bidders for China Evergrande’s stake in Evergrande Property Services (EPS), comes as creditors seek to recover assets from the Guangzhou-based developer, which collapsed under the weight of... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3332753/evergrande-liquidators-set-november-end-deadline-bids-property-services-unit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3332753/evergrande-liquidators-set-november-end-deadline-bids-property-services-unit?utm_source=rss_feed Fri, 14 Nov 2025 05:01:24 +0000 Cao Li Cao Li The property management arm of indebted mainland Chinese real estate developer Redsun Properties Group said on Friday that more than 72 per cent of its shares had been seized by receivers, after its controlling shareholder defaulted on a pledge. The holding company of Redsun Services Group had pledged about 302 million shares of the Hong Kong-listed firm as collateral for notes issued by Hong Seng Limited, an affiliated company, as part of the developer’s 2024 debt restructuring plan, according... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3330174/chinese-developer-redsuns-property-management-arm-hit-share-seizure-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3330174/chinese-developer-redsuns-property-management-arm-hit-share-seizure-hong-kong?utm_source=rss_feed Fri, 24 Oct 2025 05:41:22 +0000 He Huifeng He Huifeng In Xingyang, Henan province, a long-stalled project by Evergrande – the world’s most indebted real estate developer – lays bare two sharply contrasting realities. On social media, frustrated buyers who paid for their long-promised flats years ago plead for updates on their unfinished homes. Meanwhile, the project’s lavish sales hall has found a new lease of life: under its glittering chandeliers, production crews shoot family feuds and love triangles for China’s booming micro-drama industry. The... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3326163/chinas-micro-drama-boom-turns-stalled-real-estate-projects-lavish-film-sets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3326163/chinas-micro-drama-boom-turns-stalled-real-estate-projects-lavish-film-sets?utm_source=rss_feed Sun, 21 Sep 2025 07:00:09 +0000 Cao Li Cao Li US consulting firm Alvarez & Marsal (A&M) is set to further expand its presence in China, after tripling the number of its employees in Hong Kong and the mainland over the past five years to more than 400, while quadrupling its revenue. The New York-based firm planned to increase its staff in China fivefold in the next four to five years, said James Dubow, managing director and co-head of North Asia, on Tuesday. A&M has more than 12,000 employees globally. “China has become an increasingly... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3325756/us-firm-alvarez-marsal-plans-major-china-expansion-evergrande-saga-raises-its-profile?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/3325756/us-firm-alvarez-marsal-plans-major-china-expansion-evergrande-saga-raises-its-profile?utm_source=rss_feed Tue, 16 Sep 2025 11:42:30 +0000 Cao Li Cao Li A Hong Kong judge on Tuesday appointed China Evergrande Group’s liquidators as receivers of the assets of company founder Hui Ka Yan, following his failure to comply with a previous order requiring him to reveal all his worldwide assets valued at more than HK$50,000 (US$6,426). “There is a total failure on the part of Hui to comply with the disclosure order,” wrote Justice Herbert Au-yeung Ho-wing in a judgment from the Court of First Instance. “There is therefore a breach of the court... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3325738/hong-kong-court-names-china-evergrandes-liquidators-receivers-founders-assets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3325738/hong-kong-court-names-china-evergrandes-liquidators-receivers-founders-assets?utm_source=rss_feed Tue, 16 Sep 2025 10:01:32 +0000 Salina Li Salina Li China’s new home prices extended a weak trend in August – falling 0.3 per cent month-over-month in 70 major cities – but showed a marginal improvement from a year earlier as state-led policies stabilised a persistently weak sector. New home prices have been sliding since April, 2022, on a year-on-year basis but the decline is showing signs of narrowing, according to data published by the National Bureau of Statistics on Monday. Prices fell 3 per cent year-on-year in August, compared with a... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3325552/chinas-property-market-shows-signs-stabilisation-despite-monthly-fall?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3325552/chinas-property-market-shows-signs-stabilisation-despite-monthly-fall?utm_source=rss_feed Mon, 15 Sep 2025 05:11:07 +0000 Salina Li Salina Li Liquidators for the delisted mainland property group China Evergrande Group have received non-binding offers for a property management unit they have been seeking to offload, according to a Hong Kong Stock Exchange filing on Thursday night. Evergrande Property Services Group (EPS) said in the filing it had received an approach letter from Evergrande’s liquidators and entered into confidentiality agreements for a potential transaction that could see the developer sell its stake in the property... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3325268/evergrande-eyes-sale-stake-us13-billion-property-services-unit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3325268/evergrande-eyes-sale-stake-us13-billion-property-services-unit?utm_source=rss_feed Fri, 12 Sep 2025 02:19:15 +0000 Yulu Ao Yulu Ao Hong Kong stocks rose on Monday after US Federal Reserve chair Jerome Powell signalled the possibility of a rate cut next month and Shanghai relaxed its home-purchase policies. The Hang Seng Index closed nearly 2 per cent higher at 25,829.91, the biggest gain in two weeks. The Hang Seng Tech Index rose 3.1 per cent. On the mainland, the CSI 300 Index gained 2.1 per cent, the most since 2022. The Shanghai Composite Index strengthened 1.5 per cent to hit a fresh 10-year high. The combined turnover... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3323009/hong-kong-stocks-gain-most-2-weeks-after-feds-powell-signals-rate-cut-next-month?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3323009/hong-kong-stocks-gain-most-2-weeks-after-feds-powell-signals-rate-cut-next-month?utm_source=rss_feed Mon, 25 Aug 2025 02:24:43 +0000