(Bloomberg) China Huarong Asset Management Co. returned almost $2 billion back to Citic Group, in a sign of closer ties after the financial conglomerate led a bailout of the bad debt manager two years ago. Most Read from BloombergBiden, Xi Declare Progress After Concluding Four-Hour SummitIsrael Latest: Biden Defends Hospital Raid, Says Hamas UnbowedTrudeau Faces Calls to Exit With His Party Trailing in PollsSpaceX Weighs Spinning Off Starlink Via IPO as Soon as 2024Rolex, Patek Prices Hit Fr
The net worth of Wang Wenyin cut in half after a Chinese court ordered a three-year freeze on all of the shares in his privately held metals giant Amer International Group.
The property sector is undergoing policy adjustments and the CSRC is loosening restrictions around the funding issue, according to Shen Meng, director at Beijing-based investment firm Chanson & Company.
Municipalities have been directed to drop a 15 per cent price premium on land sales, which fell 80 per cent in 2022 and 33 per cent this year. The impact on demand ‘might be quite limited’, an analyst says.