Hongkong Land pays a record 31 billion yuan for Shanghai land plot as it continues its search for growth in mainland China

Hongkong Land, 50 per cent owned by Jardine Matheson, plans to build office buildings, shopping malls and high-rise apartment buildings on the plot at West Bund. The parcel will yield 1.8 million square metres (1.94 billion square feet) of gross area. Hongkong Land Holdings Limited, a unit of one of the biggest British conglomerates of the colonial era, has paid a record price for a piece of … http://bit.ly/2TTUUY9

China’s dreams of world leadership are fading as its belt and road projects start to sour

The Belt and Road Initiative, hailed for promoting development, is coming under fire as debt burdens grow, reflecting a growing wariness of Beijing’s posturing as a global leader-in-waiting on an international stage that seeks to promote debate rather than censor it. President Xi Jinping has become accustomed to casting himself and China as natural heirs to the leadership of the global system. … http://bit.ly/2tASWTh

President Xi breathes new life into Shanghai FTZ as he hopes to replicate reforms across China

China’s President Xi Jinping on Monday breathed new life into Shanghai, announcing plans for an equity market for start-ups and expansion of the free-trade zone, hoping to revive the flagging fortunes of the economic testing ground seen as a rival to Hong Kong. Xi said in a speech during the China International Import Expo that Shanghai free trade zone will be encouraged … http://bit.ly/2PhSSSk

Last bull abandons Chinese stocks as global fund managers turn from net buyers to sellers

Foreign investors have bought US$40b of mainland equities in the first nine months of the year. Enough is enough and the last bull in China’s stock market has thrown in the towel. Foreign investors, who were net buyers of Chinese stocks every month except February since 2017, have been dumping the mainland’s yuan-denominated shares daily in October through the exchange li … http://bit.ly/2NzvVEd

Australia, the canary in Asia’s trade coal mine, may rue its slow escape from China’s sputtering economy

Did S&P just put a curse on Australia? The reference here is to the credit-rating equivalent of the magazine-cover jinx that companies and entire economies struggle to avoid. On Friday, S&P made headlines by upgrading the outlook Down Under, reckoning that Canberra’s budget surplus will reappear by the “early 2020s.” Great news for new Prime Minister Scott Morrison as he … http://bit.ly/2zrrrvC