Business
China Real Estate: Sunac’s Luxury Apartments in Shanghai Sell Out in Just 3 Hours
China’s property market is recovering, with all 158 luxury units at Sunac China’s One Sino Park in Shanghai sold in three hours, generating 5.88 billion yuan, amid new government stimulus measures.
Signs of Recovery in China’s Property Market
China’s property market shows signs of recovery as Beijing implements measures to revitalize the sector. Recently, buyers flocked to a luxury residential project in Shanghai, indicating renewed interest in real estate.
Successful Sale of One Sino Park Units
The third batch of Sunac China Holdings’ One Sino Park sold all 158 units within three hours, generating ¥5.88 billion (US$825.8 million). This follows the successful sales of the project’s previous phases, totaling ¥21.5 billion. The luxurious flats in the Huangpu district were priced at ¥172,000 (US$24,150) per square meter, attracting double the number of interested buyers compared to available units.
Investor Perspectives on Real Estate
Shanghai resident Sun, who purchased a sizable apartment, expressed satisfaction in securing an asset that can “maintain its value.” He noted that current market conditions make home buying a more sensible investment compared to other options like the stock market.
Source : China property: Sunac’s Shanghai luxury flats sell out in 3 hours
Business
China’s Tennis Surge Creates New Business Prospects
China’s tennis boom creates significant business opportunities, with growing participation and popularity of the sport, leading to increased investment in facilities, coaching, and events across the country.
China’s Tennis Boom
China’s growing enthusiasm for tennis has created a surge in business opportunities across the nation. As the sport gains popularity, especially among the youth, various sectors are recognizing its potential to engage fans and attract investment. The increasing presence of international tennis events in China has also contributed to this trend, fueling interest and participation at all levels.
Economic Impact
The tennis boom is influencing economic development significantly. Local businesses, ranging from sportswear manufacturers to training academies, are experiencing growth due to heightened interest in the sport. Additionally, the influx of sponsorship and advertising revenue from global brands showcases the commercial potential of tennis in China.
Future Prospects
Looking ahead, the momentum of tennis in China is expected to continue, expanding opportunities for entrepreneurs and investors. With increased infrastructure development and grassroots programs, the sport’s popularity is likely to rise. This evolution signifies a promising future for tennis, paving the way for further integration into China’s cultural and economic landscape.
Business
Reckitt CEO Reports ‘Thriving’ China Business, Anticipates Double-Digit Growth – Reuters
Reckitt’s CEO reports strong performance in China, expecting double-digit growth for the business, highlighting its success and positive outlook in the market.
Reckitt’s Success in China
Reckitt’s CEO has reported that the company’s operations in China are flourishing, demonstrating strong resilience amid market fluctuations. The company’s strategic initiatives and adaptation to local consumer preferences have significantly contributed to its success in this vital market.
Impressive Growth Projections
The CEO mentioned that Reckitt anticipates double-digit growth in China. This optimistic forecast is driven by the increasing demand for Reckitt’s products, ranging from health and hygiene to wellness items, highlighting the effective marketing strategies employed in the region.
Future Outlook
As Reckitt continues to expand its footprint in China, the CEO emphasized a commitment to innovation and product development. This approach aims to capture evolving consumer trends, ensuring Reckitt remains a top choice for customers in the competitive Chinese market.
Source : Reckitt CEO says China business is 'thriving', sees double-digit growth there – Reuters
Business
CITIC to Divest Stake in McDonald’s Operations in China and Hong Kong for $430.3 Million
CITIC Ltd is selling its 19.23% stake in Fast Food Holdings, which manages McDonald’s in China and Hong Kong, to Trustar Fast Food for $430.3 million.
CITIC Ltd Sells Stake in Fast Food Holdings
China’s CITIC Ltd, a prominent state-owned enterprise, has made a significant business decision. The company has agreed to divest its 19.23% stake in Fast Food Holdings, which oversees McDonald’s operations in China and Hong Kong.
Deal Details and Financial Implications
The transaction is valued at approximately $430.3 million. This move indicates a strategic shift for CITIC, as it steps back from its involvement in one of the leading fast-food chains in the region.
Reporting and Editing Notes
The deal has garnered attention in the financial community, emphasizing the ongoing changes within the fast-food industry in China. The information was reported by Roshan Thomas from Bengaluru, with editing provided by Arun Koyyur.
Source : CITIC to sell stake in McDonald’s China, Hong Kong business for $430.3 million
- China Real Estate: Sunac’s Luxury Apartments in Shanghai Sell Out in Just 3 Hours
- Cuba Becomes a Focal Point in US–China Rivalry
- China’s interests in Africa are being shaped by the race for renewable energy
- Harnessing Chinese Social Media to Drive E-Commerce Success on Shopify
- China’s Tennis Surge Creates New Business Prospects
- Reckitt CEO Reports ‘Thriving’ China Business, Anticipates Double-Digit Growth – Reuters
