Pan Sutong proudly displays the 4.5-liter jeroboam of 1900 Chateau Latour he uncorked on Dec. 8 after his two thoroughbreds placed first and second in their respective races at the Hong Kong Jockey Club.
Chinese developers are building more homes in cities across the nation away from the financial hub of Shanghai and the capital Beijing, which may be the hardest hit by government measures to curb property prices.
China’s stocks rose for the first time in three days, led by developers and steelmakers, as the nation’s slowing economy fuelled speculation the government will ease lending curbs and delay raising interest rates.
Real estate investors and developers are abandoning a two-year foray into China’s provincial cities and switching back to Shanghai and Beijing, where offices are fuller, rents are higher and home prices are stabilizing.
Austrian supervisors won’t impose a capital surcharge on the country’s biggest lenders such as Erste Group Bank AG and Raiffeisen Bank International AG before rules for “too-big-to-fail” banks are agreed internationally.