Country Garden, once one of China’s largest property developers, on Tuesday received U.S. bankruptcy court recognition for its Hong Kong restructuring plan, WSJ Pro Bankruptcy reported. Judge Philip Bentley of the U.S. Bankruptcy Court for the Southern District of New York said he is satisfied that the company’s principal place of business is in Hong Kong, a key finding required for a foreign restructuring plan to seek U.S. recognition. The recognition of Country Garden’s Hong Kong restructuring plan under chapter 15 of U.S.
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Two of China’s private data agencies withheld monthly home sales figures at the government’s behest, people familiar with the matter said, stoking transparency concerns in a critical sector of the world’s second-largest economy, Bloomberg News reported. China Real Estate Information Corp. and China Index Academy, which are among the country’s biggest private property data providers, didn’t disclose the combined sales of the nation’s 100 largest developers for November on Sunday.
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China Vanke will seek bondholder approval to delay the repayment of a 2 billion yuan ($282.6 million) onshore bond, a filing late on Wednesday showed, a move that could trigger a new wave of anxiety in both financial and property markets, Reuters reported. A public bond extension would be the first for the state-backed property developer, a household name with many projects in China's biggest cities. A debt restructuring by Vanke, with 364.3 billion yuan of interest-bearing liabilities, could also potentially dwarf defaults by privately owned peers Evergrande and Country Garden this decade.
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The United States on Wednesday said it was extending into November 2026 tariff exclusions that had been due to expire later this month related to a probe of China's practices on technology transfer and intellectual property, Reuters reported. "The extension of the exclusions follows the historic trade and economic deal reached between President Trump and President Xi Jinping of China announced by the White House on November 1, 2025," the Office of the U.S.
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A coalition of thousands of French retailers has sued the Chinese fast fashion retailer Shein, accusing it of unfair competition, according to the French Retail Council, a move that escalated a backlash against the company in France this week, the New York Times reported. The class action suit, filed on Wednesday in a commercial court in southern France, was brought on by 12 federations and 100 large French brands.
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China's nascent private REIT market has emerged as a rare bright spot for cash-strapped developers, with a record fundraising pipeline of $12 billion for this year, driven by rising investor demand for higher yields, Reuters reported. Launched in 2023, the private REIT market, restricted to professional investors, has grown rapidly. Developers are drawn to its quicker and more relaxed approval process compared with public REITs and its prospects for revitalising income-generating assets amid the country's property sector slump.
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China Evergrande Group’s famous log-cabin hotel in Quebec, Canada, has been placed in receivership after the defaulted real estate developer failed to make payments on its debt, Bloomberg News reported. Fairmont Le Chateau Montebello, which has hosted luminaries including Grace Kelly and Margaret Thatcher, would be put up for sale by PricewaterhouseCoopers LLP, the court-appointed receiver, according to documents filed this week on the accounting firm’s website.
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The U.S. is the biggest recipient of China's lending activities globally, according to a study which tracked Beijing's credit activities and found it is increasingly lending to higher-income countries over developing countries, Reuters reported. The report, published on Tuesday by AidData, a research lab at U.S. university William & Mary, said China's lending and grant giving totalled $2.2 trillion across 200 countries in every region of the world from 2000 to 2023.
China escalated its retaliation against Japan, suspending imports of Japanese seafood and halting approvals for new films — the latest signs that their diplomatic spat is far from over, Bloomberg News reported. Chinese Foreign Ministry spokeswoman Mao Ning told reporters on Wednesday that Japan had not met the conditions for resuming seafood shipments, effectively confirming earlier Japanese media reports that imports would be suspended. The move comes just months after Beijing lifted a similar ban.
Focusing on the needs of technology-driven enterprises, Beijing bankruptcy tribunal has, since 2024, rescued 27 small and medium-sized high-tech businesses through the rule of law, helping them overcome operational difficulties and serving industrial development, Global.ChinaDaily.com reported. These rescued companies are involved in cutting-edge sectors, such as artificial intelligence, big data, intelligent healthcare, digital culture and tourism, and computing power infrastructure, according to a statement from the tribunal under the Beijing No 1 Intermediate People's Court.
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