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China Huarong Asset Management, overseen by the country’s Finance Ministry, has unveiled a significant investment move by purchasing a 5.01% stake in Citic Ltd from Citic Polaris (NYSE:PII). This strategic acquisition, valued at HK$13.63 billion ($1.75 billion), is set to bolster Huarong’s asset quality and financial standing. The deal, internally funded by Huarong, involved buying […]

China Huarong Asset Management, overseen by the country’s Finance Ministry, has unveiled a significant investment move by purchasing a 5.01% stake in Citic Ltd from Citic Polaris (NYSE:PII). This strategic acquisition, valued at HK$13.63 billion ($1.75 billion), is set to bolster Huarong’s asset quality and financial standing. The deal, internally funded by Huarong, involved buying […]

China Huarong Asset Management, overseen by the country’s Finance Ministry, has unveiled a significant investment move by purchasing a 5.01% stake in Citic Ltd from Citic Polaris (NYSE:PII). This strategic acquisition, valued at HK$13.63 billion ($1.75 billion), is set to bolster Huarong’s asset quality and financial standing. The deal, internally funded by Huarong, involved buying […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]

HONG KONG (Reuters) – A court auction to sell vast commercial land plots owned by defaulted Shimao Group in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China’s property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked […]