Hong Kong should build a free-trade zone with the neighboring Chinese province of Guangdong to make it a more competitive commercial and financial center for the world’s second-biggest economy, a former top city official said.
Blackstone Group LP, the world’s biggest manager of alternative assets including private equity and real estate, agreed to buy a 40 percent stake in Chinese shopping mall developer and operator SCP Co.
Luxury-home rents in Hong Kong and Singapore, two of Asia’s most expensive cities for apartment leases, are declining for a third year as banks squeezed by slowing growth cut budgets for expatriate workers.
When Li Yu wanted to take a gambling trip, she looked into Macau but found the hotels too expensive. So she booked a room on an overnight casino boat that sailed about an hour from Hong Kong into international waters before opening up its baccarat tables.