3 d. ago CNBC's The China Connection newsletter: Battle for the recovering luxury market heats up

CNBC's The China Connection newsletter: Battle for the recovering luxury market heats up  CNBC

Events

9 d. ago Hong Kong politician Bunny Chan bets US$40 million on luxury market with Stanley purchase

A Hong Kong delegate to China’s National People’s Congress (NPC) bought a luxury residential project in the seaside enclave of Stanley for 44 per cent less than the seller paid six years ago, in the latest sign that deep discounts are drawing wealthy buyers back into the city’s high-end property market. Bunny Chan Chung-ban, also the chairman of the apparel firm Prospectful Holdings and a former district councillor, acquired Villa Mortini at 8 Stanley Beach Road for HK$310 million (US$39.8...

Economics

1 week ago CNBC's The China Connection newsletter: What's next after a 10

CNBC's The China Connection newsletter: What's next after a 10-year 'experiment' with U.S.-China competition  CNBC

Politics

2 w. ago Porsche CEO Says It ‘Got It Wrong’ in China as Luxury Car Market Collapses 80%

Porsche CEO Says It ‘Got It Wrong’ in China as Luxury Car Market Collapses 80%  Autoblog

Economics

3 w. ago Luxury EV built with Huawei outsells Porsche’s Panamera and BMW’s 7 Series in China

Chinese electric vehicles (EVs), already the envy of the global automotive industry, have raced to the top of the luxury segment after a new model co-developed by Huawei Technologies outsold Porsche’s Panamera and BMW’s 7 Series in the world’s largest car market. Maextro S800, a luxury sedan priced from 708,000 yuan (US$100,555) to 1 million yuan, recorded 2,145 deliveries in mainland China last month, more than the combined sales of the Panamera and the 7 Series, according to data provider ECC...

Politics

3 w. ago Swire Properties sells 2 Deep Water Bay homes for US$283 million in biggest deal in years

Activity in Hong Kong’s ultra-luxury residential market is picking up, with Swire Properties selling two homes in Deep Water Bay for a whopping HK$2.2 billion (US$283 million). The two three-storey units at 6 Deep Water Bay Road had saleable areas of about 9,600 sq ft and 5,300 sq ft, with the transactions set to be completed in the first quarter of 2026, the developer said. Both units were acquired by the same buyer. On a per square foot basis, the deal works out to HK$147,010, “one of the...

Economics