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    Hong Kong

    This Month

    ‘Dear friends’ Xi Jinping and Vladimir Putin at the Kremlin in 2019.

    Putin to meet ‘dear friend’ Xi in China, defying US

    The Russian president is set to arrive in Beijing, underlining the key relationship as China faces growing US pressure to curtail support for the war in Ukraine.

    • Greg Torode and Guy Faulconbridge
     Zeekr EVs were all the rage at the  China Auto Show in Beijing last month.

    This is how China’s car dealers are driving the EV revolution

    Chinese car dealers are ditching foreign brands slow to respond to the EV transition, while turning to homegrown makers that have been gobbling up market share.

    • Gloria Li
    Houses in Zhouzhuang old town. Home buyers are no longer focused on new builds.

    Why the Chinese are warming to ‘second-hand’ homes

    With tens of thousands of new developments yet to be completed, house hunters are looking again at older buildings. End buyers don’t trust developers any more.

    • Thomas Hale, Wang Xueqiao, Andy Lin and Chan Ho-him

    April

    A bubble tea café in the US. The scope for global expansion shows no limits at the moment.

    China’s bubble tea brands look to create a stir overseas

    Best known for the 1980s Taiwanese variety that includes tapioca balls or “bubbles”, flavoured milk tea beverages are a hit worldwide. Chinese companies are cashing in.

    • Thomas Hale, Wang Xueqiao, Chan Ho-him and Gloria Li
    Geely EVs bound for Europe at the Port of Taicang before departure.

    ‘It’s chaos’: Chinese EVs pile up at Europe’s ports

    Executives say Chinese carmakers are not selling EVs in Europe as fast as they expected, turning ports into car parks.

    • Arjun Neil Alim, Robert Wright and Peter Campbell
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    This six-bedroom Bellevue Hill home has hit the market with a $23m guide.

    Eastern suburbs’ elite sell their trophy mansions

    Investors Mutual CEO Damon Hambly and wife Philippa Haydon have listed their Bellevue Hill home for $23 million, while Sue Ingham is downsizing in Darling Point.

    • Bonnie Campbell
    In his last public appearance as CEO of National Australia Bank, Ross McEwan said the government needed to lift its building policies to counter the surge in immigration.

    We should be glad banks are speaking up

    Australia’s big banks are at the coalface of the economy. Governments should be listening when they highlight the need for change.

    • Nick Hossack

    March

    David Jones Amplify hopes to boost revenue by $35 million a year in its new retail media division.

    David Jones pens new tech deal to power $35m fresh revenue

    The Anchorage Capital-owned department store has signed up US advertising firm Criteo to help it boost revenue and profitability.

    • Carrie LaFrenz and Sam Buckingham-Jones
    Hong Kong appointment: Former chief justice of the Federal Court, James Allsop.

    Former top judge Allsop to Hong Kong court

    Democracy activists say Australian judges are taking China’s ‘dirty jobs’ after ex Federal Court chief Justice James Allsop joined Hong Kong’s Final Court of Appeal.

    • Michael Pelly and Michael Smith

    High-flying Hong Kong bankers become a lost generation

    Out of work or facing deep salary cuts, some fear that this is not even rock bottom as US-China geopolitical tensions fracture capital markets.

    • Lulu Yilun Chen and Denise Wee
    AMD chips are being phased out of government PCs and servers.

    Beijing blocks use of Intel and AMD chips in government computers

    The stricter government procurement guidance also seeks to sideline Microsoft’s Windows operating system and foreign-made database software in favour of domestic options.

    • Ryan McMorrow, Nian Liu and Qianer Liu
    China’s property crisis has crippled the economy.

    China scrutinises PwC role in $118b Evergrande fraud case

    Authorities are examining the role of PwC in China Evergrande Group’s accounting practices after the developer was accused of fraud.

    • Bloomberg News
    Anne-Marie Allgrove is in Hong Kong as the global firm looks to exert control over its Australian outpost.

    More partners exit Baker McKenzie amid integration talks

    Baker McKenzie’s Australian managing partner is in Hong Kong for discussions about greater integration with the global firm’s Asian division

    • Maxim Shanahan
    Police officers stand guard outside the Legislative Council in Hong Kong.

    ‘Raided, arrested’: Hong Kong security law threat to Western business

    The measures, which further tighten national security laws imposed by Beijing in 2020, fuelled concerns about Hong Kong’s future as Asia’s business hub.

    • Updated
    • James Warrington and Sarah Newey
    Unfinished apartment buildings at the construction site of a China Evergrande Group development in Beijing.

    China accuses Evergrande of ‘shocking’ $119b fraud

    The allegations mark the latest blow for founder Hui Ka Yan, once among Asia’s richest tycoons, who oversaw an empire that spanned real estate to electric vehicles.

    • Updated
    • Mengchen Lu
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    Hong Kong is becoming as risky for business as mainland China, and more expensive too.

    Why Australians should care about Hong Kong’s security crackdown

    Hong Kong has adopted China’s definitions of national security risks, calling into question its status as safe gateway to China for Australians.

    • Kevin Yam

    Hong Kong’s ugly duckling hotel has been transformed

    After a chic makeover, the 1980s Regent in Kowloon has been reborn as a flagship hotel that makes the most of its spectacular harbourside location.

    • Samantha Hutchinson
    A Tesla Cybertruck on display in Beijing.

    China shuns Tesla, Apple as US tensions rise

    Delegates at the annual Communist Party meeting spurned iPhones for homegrown handsets, saying US company Apple was “not safe”.

    • Ryan McMorrow, Nian Liu, Gloria Li and Michael Acton
    Uncompleted residential buildings on the outskirts of Shenyang, in Liaoning Province.

    China’s indebted provinces meet state bankers to discuss debt relief

    Many local governments are grappling with billions of dollars of off-balance sheet debt, stifling their ability to deploy new investments.

    • Cheng Leng
    Unfinished apartment buildings at the construction site of a China Evergrande Group development in Beijing. Liquidating mainland assets is complicated.

    The Lehman liquidators taking on China’s Evergrande

    The Alvarez & Marsal guns charged with liquidating the world’s most indebted property developer are finding it a lot harder than dealing with the former Wall St giant.

    • Kaye Wiggins and Chan Ho-him