Hong Kong working to boost global banks’ use of yuan trading tools
Hong Kong has vowed to engage more international banks in a debt securities clearing system, as part of a wider push to develop the city into a leading global yuan trading hub. “Hong Kong is actively promoting a number of measures to advance the city’s offshore yuan market to higher and deeper levels,” said Michael Wong Wai-lun, the city’s deputy financial secretary, during a Hong Kong event…
Homebuyers in Hong Kong are set to witness a surge in residential launches this week, following a sell-out weekend for over 360 flats across two major projects. Sun Hung Kai Properties, a leading developer and landlord in the city, announced a second round of sales for Sierra Sea Phase 2C(2) in Shap Sze Heung, offering 152 flats at discounted rates or via tender.
The new flats range in size from 418 to 679 square feet and include two and three-bedroom layouts. Yuexiu Property also experienced a sell-out of all 220 flats in The Atlas Phase 1 project in Yau Tong, with prices starting at HK$13,038 to HK$16,769 per square foot. Experts believe the primary launches are outperforming the secondary market due to aggressive pricing, flexible payment schemes, and attractive rebates.
Meanwhile, Hong Kong's office property sector is also set to benefit from a redevelopment project in Taikoo Place, which will include a new premium harbourfront office tower, a retail podium, and parking facilities.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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