InterContinental Hotels Group Plc, the world’s largest provider of hotel accommodation, plans to open “at least the same” number of hotels in China next year as 2013, even as growth in room revenue slows.
Hong Kong stocks will extend a rally after touching a 2 1/2-year high on optimism for China’s biggest package of policy changes since the 1990s and a stronger global economy, according to investors from JPMorgan Asset Management to Pictet Asset Management (HK) Ltd.
Global banks and asset managers are opening hedge funds in Asia for the first time since the 2008 financial crisis, putting pressure on smaller firms that are already struggling to hold onto investors.
The Dalton Greater China Fund, run by James Rosenwald III, a former adviser to funds linked to billionaire George Soros, beat peers with a 25 percent return this year, an investor newsletter seen by Bloomberg News showed.
The world appeared to change on Nov. 15, the day bold and epochal reforms were unveiled that promised to overhaul one of the world’s biggest economies. Analysts, investors and historians alike rejoiced at the audacity of the plan.
China’s planned economic reforms are poised to reshape the competitive landscape, allowing private companies such as Alibaba Group Holding Ltd. to compete with state-owned banks and easing the one-child policy to bolster demand for products from Nestle SA to General Motors Co.
In the biggest expansion of economic freedoms since at least the 1990s, China’s leaders vowed to expand farmers’ land rights, loosen the one-child policy and encourage private investment in state businesses.