〈The Standard, Dec 30, 2023〉New World Development Co. is partnering with Chinese state-owned developer China Resources Land Ltd. to build a residential project in Hong Kong’s Northern Metropolis, underscoring the increasingly active role that mainland firms play in the city’s property sector.
The two will provide about 1,800 homes on sites held by New World, one of the few developers owning vast agricultural land in the area, according to a joint statement on Wednesday.
The Northern Metropolis plan, introduced by the city’s previous chief executive Carrie Lam Cheng Yuet-ngor in 2021, aims to turn the majority of the New Territories bordering Shenzhen into a tech hub with science parks and homes.
New World could reduce its investment by joining forces with the state developer, easing the burden on the company at a time when it’s trying to trim debt. The move aligns with Beijing’s push to integrate Hong Kong into the Greater Bay Area.
〈Hong Kong Business, Dec 29, 2023〉2024 will be a year of "evolution and innovation" for the retail segment, and Hong Kong Land plans to capitalize on these trends by refreshing the composition of retail and F&B outlets in LANDMARK, amongst others.
Hong Kong Land also unveiled plans to include a new concept atop Prince’s Building and reconfigure a retail space in LANDMARK. Luxury retail will also be one of next year’s marketing agenda.
"We will continue to focus on integrating lifestyle, arts and culture in the customer experience. We look forward to sharing more on Sotheby’s new state-of-the-art immersive exhibition and retail space, which will open in Chater House in the first quarter of 2024," the developer added.
〈Asian Post, Dec 28, 2023〉Hong Kong’s budget for the next fiscal year will likely remain expansionary to boost the recovery next year, UOB said.
Stephen Li, head of Global Markets, Greater China, at UOB, said the budget will also include measures on housing, low fertility, and talent to revitalise the economy.
Once the budget for 2024-2025 is tabled in February, UOB expects official forecasts for 2024 to be released.
UOB, for its part, retained a growth outlook of 2.5% for 2024.
On the inflation front, UOB expects domestic prices to start to accelerate as improving domestic demand and wage growth translate into higher costs for businesses.
〈Asian Post, Dec 27, 2023〉Exports will likely grow by 4% to 6% in 2024, following the 11% decline from January to October 2023, according to the HKTDC Export Index.
Exporters draw a more positive outlook from the increasing demand for electronic components driven by demand for AI-enabled devices and other finished products.
The electronics sector accounts for 70% of all Hong Kong exports.
Export growth is set to come after continuously softened export sentiment this year.
In 4Q23, exporter sentiment declined in major sectors, including electronics (34.8; down 6.0 points).
〈CNN, Dec 26, 2023〉While 2023 has been the best year for global stockssince before the pandemic, with markets in the United States, Europe, Japan and India enjoying strong rallies, investors have soured on China. Astring of problems — including a real estate crisis, weak consumer spending and high youth unemployment — have put the world’s second biggest economy on the back foot.
China’s blue-chip CSI 300 index fell more than 11% this year, while Hong Kong’s Hang Seng is down almost 14%. Meanwhile, the MSCI World index is on track to close the year 22% higher, its biggest annual jump since 2019.
The US benchmark S&P 500 index, and Europe’s Stoxx 600, are on course to finish the year up almost 25% and 13% respectively. Japan’s Nikkei 225 has soared 30% since the start of the year. India’s benchmark Sensex, which tracks 30 large companies, has climbed nearly 19% this year.
App下载
