Shares in Hong Kong increase for the second consecutive day after a senior Chinese official promises policy backing. Vice-Premier He Lifeng lays out strategies to enhance listings, market entry and yuan transactions, amid heightened morale due to strong earnings from Trip.com.

The Hang Seng Index ended with a 0.4 per cent increase, finishing at 19,663.67, which adds to Monday's 0.8 per cent rise. The Hang Seng Technology Index also made progress, with a 1.2 per cent enhancement. On mainland China, both the CSI 300 Index and the Shanghai Composite Index saw a 0.7 per cent improvement.

Trip.com Group, a Chinese online travel company, saw a surge in its shares following the announcement of its quarterly results, which surpassed expectations. Zijin Mining Group, a gold production company, also saw progress after Goldman Sachs predicted that the price of gold would exceed US$3,000 per ounce in the upcoming year. However, shares of smartphone manufacturer Xiaomi took a hit as investors cashed in their profits following the release of positive earnings report on Monday. Despite this, the company's stock has still seen a significant increase of over 80

Over 300 attendees have convened in Hong Kong for the yearly conference facilitated by the Hong Kong Monetary Authority.

Previously, Deputy Premier He Lifeng committed to increasing aid for Hong Kong's financial sectors. During his main address at the conference, he stated that China intends to assist additional Chinese businesses in getting registered in the city, enhance reciprocal market entry, and release treasury bonds.

The "Golden Bauhinia Women Entrepreneur Awards" recognizes and applauds the remarkable successes of 27 influential female entrepreneurs. This yearly ceremony pays tribute to the substantial contributions made by extraordinary businesswomen and women professionals in various sectors. Furthermore, it serves as a stage for women entrepreneurs who embody ethical values and professional superiority to set an example for personal development and societal duty.

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The realm of entrepreneurship presents difficulties for all, but especially for women who encounter additional obstacles and challenges. The achievements of women entrepreneurs are particularly noteworthy and deserving of applause and recognition.

The Golden Bauhinia Women Entrepreneur Association (GBWEA) is committed to utilizing the knowledge and energy of local female entrepreneurs, while also advocating for the business community's emphasis on women in business and their substantial input. They hold the "Golden Bauhinia Women Entrepreneur Awards" every two years to achieve this aim.

In 2024, the event celebrated its 5th year with a stunning award distribution function held in the latter part of October.

This occasion is not merely a joyous gathering for businesswomen and professionals from various sectors to revel in each other's successes. The Awards identify women entrepreneurs who have accomplished remarkable feats and contributed significantly in their respective areas of expertise. By excelling in their unique pursuits and making meaningful contributions that affect us all, these women entrepreneurs radiate positivity in the community through their compassion and kindness.

The ceremony recognized 27 exceptional female leaders in seven different categories: "Business Excellence Award," "Arts & Cultural Achievement Award," "Power of Next Generation Award," "Philanthropy Award," "Leading Pioneer ESG Award," "Technology Innovation Award," and "Start Up Z35 Award." The GBWEA created these award categories to mirror the rapidly changing business environment and demands in Hong Kong, the Greater Bay Area (GBA), and worldwide.

Authorities endorse Hong Kong's position as the link between China and global markets

Chinese representatives, addressing from Hong Kong, express their backing for the city as the nexus between the mainland and the wider world.

Authorities from China who oversee three sections of the world's second biggest capital market made their way to the country's offshore financial hub, expressing their endorsement for Hong Kong's function as a bridge between the mainland and the global stage.

The Connect scheme, which currently includes stocks, bonds, options, and wealth management products, could potentially welcome commodities into its range of tradable assets, according to Wu Qing, the chairman of the China Securities Regulatory Commission (CSRC). The scheme allows international investors and mainland Chinese capital to access each other's markets through Hong Kong. Wu, who is the primary representative for equities, also mentioned that the scheme will likely incorporate more options and futures.

Wu is part of a group of financial representatives from the mainland who are present at the HKMA's premier event in Hong Kong, under the leadership of Chinese Vice-Premier He Lifeng.

Beijing plans to aid additional domestic firms in securing listings in Hong Kong, enhance shared market entry, release treasury bonds and reinforce its status as a global offshore yuan hub. This move will assist the city in bolstering its reputation as a leading international financial hub and promote China's economic liberalization, according to He, the top-tier Chinese financial authority to visit the city in recent years. Last year, he communicated his views through a prerecorded speech broadcasted via satellite.

In his initial comments at the conference, he reiterated that Hong Kong's prominence as a global financial hub is further assured when backed by the robust 'one country, two systems' framework, the unwavering support of the nation, and the relentless efforts of its citizens.

Authorities reinforce backing for Hong Kong's function in linking China to global markets. Chinese representatives, addressing the issue in Hong Kong, express their endorsement for the city as the intermediary between the mainland and the global community. Chinese representatives, addressing the issue in Hong Kong, express their endorsement for the city as the intermediary between the mainland and the global community.

Officials from China overseeing three segments of the world's second biggest capital market made a visit to the country's offshore financial hub to endorse and encourage Hong Kong's function in bridging the gap between mainland China and the rest of the world.

Wu Qing, the chairman of the China Securities Regulatory Commission (CSRC) and the chief overseer of equities, has indicated that commodities might be included in the current portfolio of stocks, bonds, options, and wealth management products available for trade in the Connect scheme. This program provides a platform for global investors and mainland capital to access each other’s markets through Hong Kong. Furthermore, he stated that the scope of options and futures would be expanded.

Wu is part of a group of financial authorities from the mainland who are present at the HKMA's premier event in Hong Kong, under the leadership of Chinese Vice-Premier He Lifeng.

Beijing plans to assist an increased number of mainland businesses in securing listings in Hong Kong, enhance mutual market accessibility, release treasury bonds, and bolster its status as a global offshore yuan hub. This will aid Hong Kong in its ambition to be a more robust international financial hub and will support China's efforts to liberalize its economy. This was announced by He, who is the most senior Chinese financial official to visit Hong Kong in recent years. He gave a speech, which was recorded and broadcast via satellite last year.

He reiterated in his initial conference statement that Hong Kong's prominence as a global financial hub continues to be reinforced by the reliable 'one country, two systems' framework, the unwavering support of the nation, and the diligent efforts of its citizens.

World finance experts underline the importance of resilience and insight during unpredictable periods. Presenters at the Worldwide Finance Chiefs' Investment Summit suggest that cooperation and strategic planning are essential in managing a fragmented world.

"Everyone is acknowledging the need to enhance our resilience," stated Jane Fraser, chief executive officer of Citigroup. "Many might quickly claim that globalization has ended. However, that's not the case. It's simply undergoing massive transformations."

BNP Paribas head, Jean Lemierre, expressed that trade is subject to negotiation. He emphasized that a consensus must be reached, as the alternative would be disastrous for all parties involved.

Lemierre suggested that intelligence should guide resolutions for trade conflicts, which primarily revolve around "tariffs, quotas, mutual benefits, and timing."

"He stated that we are aware of the discussion's boundaries, thus prudence should guide us to this kind of strategy."

Citic boosts its presence in Saudi Arabia with the 3,500-house Tilal Khuzam scheme in Riyadh. The project, also known as Khuzam Hills, includes multiple phases, with the first one expected to be completed in 2026, as stated on the website of Citic's associate, Rafal.

A major Chinese state-controlled property developer is collaborating with Saudi Arabian firms to initiate a significant residential real estate venture in Riyadh. This move is aimed at increasing its presence in the Middle East due to a declining market domestically.

Steered by the Saudi Vision 2030 initiative, introduced in 2019 by Crown Prince Mohammed bin Salman, Saudi Arabia is enhancing its infrastructure with the aim of drawing international expertise to aid in the transition and diversification of its economy, which primarily relies on oil. The country initiated its housing programme in 2018, marking it as the first nation worldwide to establish national strategic objectives for home ownership.

In order to advance their efforts, the country is enhancing its relationship with mainland China. Saudi Arabia has formed the NHC and the REGA, which fall under the Ministry of Housing and Urban-Rural Affairs, to assist in carrying out their housing project. The goal is to have a total of about 300,000 homes available by the year 2030 and achieve a home ownership rate of 70 percent.

Rafal, founded in 2007, holds approximately 10 property developments consisting of residential buildings, houses, and office-villas.

Foxconn, the company that manufactures iPhones, is collaborating with Nvidia to create AI-based factories. The partnership aims to produce "digital twins" to aid in the construction of high-tech facilities globally.

Foxconn disclosed in a statement on Monday that they are partnering with Nvidia to create digital twins with the goal of revolutionizing manufacturing procedures and supply chain administration. This alliance is anticipated to aid in the worldwide launch of cutting-edge facilities, improving business robustness and creating new possibilities for innovation in these areas.

The partnership was initially revealed at the Hon Hai Tech Day 2023 event, where Foxconn demonstrated its application of Nvidia's Omniverse platform to generate a 3D digital replica for the purpose of simulating automated production lines at its factory in Hsinchu, Taiwan. There are ongoing plans to broaden the use of Omniverse across other Foxconn factories globally.

At the same time, advancements in the firm's Mexico site underscore the incorporation of Nvidia Omniverse, Nvidia Isaac for robotics, Nvidia Modulus for AI-based simulations, and OpenUSD for smooth data exchange.

The utilization of digital twin technology allows Foxconn to swiftly expand its operations by virtually modeling procedures prior to actual execution. This functionality aids the firm's global expansion plans, enabling it to duplicate and homogenize production lines across different areas with remarkable effectiveness. Foxconn enhances its competitive edge in key global markets by guaranteeing uniform quality and accuracy.

Summary | Indications of Stability in China's Real Estate Market, Economists Advocate for Changes, Tax Relief in Beijing: 5 Notable Stories on Chinese Property

The decelerating drop in new home prices, combined with policy backing, is leading to increased sales, while tax incentives in major cities aim to stimulate the market. Check out our most recent reports on the Chinese real estate sector.

1. China's fresh housing market prices indicate a trend towards steadiness; Beijing, Shanghai, Guangzhou, Shenzhen spearhead the upturn

Prices experienced a downturn for the 17th consecutive month in October, however, the rate of decline was less rapid, suggesting that the latest remedial actions might be effective. Prices in 70 cities saw a 0.5 per cent decrease on a monthly basis, marking the most sluggish rate in seven months, with first-tier cities witnessing a less steep drop.

2. Surge in home sales by Chinese developers as market mood shifts; 20 per cent decrease in supply witnessed in Shanghai, Shenzhen

The month of October saw a boom in sales and a wave of new projects due to governmental policy backing and tax adjustments. There was a 73 per cent rise in sales for the leading 100 developers compared to the preceding month.

3. Financial experts at Renmin University conference encourage Beijing to address China's real estate issues

The conference echoed demands for changes to avert debt crises, reestablish market trust, and achieve Beijing's GDP growth goals of 5 per cent. Increased sales in key cities provide optimism, but worries about declining real estate values remain.

David Solomon of Goldman Sachs claims that extracting capital from China is extremely challenging. He suggests that the recent slump in venture capital deals by US investors, the worst in almost four years, requires some form of confidence boost for these investors.

Solomon noted that global investors have expressed ongoing worries about their significant financial investments not yielding returns over the past five years. He emphasized the importance of a system that not only draws in investments but also allows for easy withdrawal of these funds, as this is a critical requirement for international investors.

Solomon gave a speech at the Investment Summit for Global Financial Leaders, an event put together by the Hong Kong Monetary Authority (HKMA). The summit began on Monday.

The volume of transactions has seen a decrease over the past few years, a result of the strain in US-China relations and strict measures against technology firms and providers of after-school education. Worldwide funding for China's private equity and venture capital markets is dwindling, with numerous businesses grappling with restrictions on capital extraction from the nation. In 2023, the count of venture capital deals executed by American investors in China hit a nearly four-year low, as per data gathered by Crunchbase.

Moreover, overseas direct investment into China has plummeted to its lowest ever level, and capital flight has been rapidly increasing since the outbreak of the pandemic, as per official statistics and research analysis.

Guangzhou plans to modify the 'hukou' residency structure in a significant effort to boost housing sales. The city, which is the capital of the Guangdong province in the south, is burdened with 13.2 million square meters of unsold residences, a situation that would take nearly two years to rectify.

Guangzhou is set to implement fresh initiatives that will allow prospective homeowners to acquire local residency, outpacing competing major Chinese cities in adjusting the household registration process to boost property sales. This comes in the wake of the central government's efforts to salvage the real estate market.

Individuals who have purchased properties in any of the seven city divisions – Baiyun, Huangpu, Huadu, Panyu, Nansha, Conghua, and Zengcheng – and have made social insurance payments for a year, can qualify to request for hukou or formal residency, as per the city's local authorities.

People who have contributed a minimum of 200,000 yuan (US$27,650) in income tax in Guangzhou for the last three straight years are now eligible to apply for a hukou, as per the latest proposals released late on Monday.

"Chen Xueqiang, an analyst at China Index Academy, suggests that these incentives will stimulate demand to a certain degree. He also notes that easing hukou regulations could entice and keep skilled individuals in the city, which could eventually lead to a surge in demand for housing."

The leading 30 property developers in Guangzhou experienced a 13% reduction in new home sales in the first ten months compared to the same period last year, as reported by China Real Estate Information Corp. This decline reflects the nationwide decrease in housing sales. Based on data from the China Index Academy, the city holds 13.2 million square meters of unsold properties, which, considering the current demand, could take around 22 months to sell.

Asia is set to fuel worldwide expansion as the 'China plus one' strategy gains traction in the wake of Trump's comeback. Shifting investments from China to surrounding markets to safeguard against tariffs and geopolitical threats is projected to enhance Asia's economic growth, according to HSBC's Elhedery.

Business leaders at a summit in Hong Kong on Tuesday suggested that Asia is likely to be the major contributor to global growth this year, despite the potential risks associated with geopolitical instability and extra tariffs, particularly with Donald Trump coming back to the White House.

The approach known as "China plus one," which involves shifting investments from China to nearby economies as protection against tariffs and geopolitical uncertainties, will stimulate overall growth in Asia, according to Georges Elhedery, the chief executive officer of HSBC Holdings. He made this statement at the Global Financial Leaders' Investment Summit.

Approximately half of the foreign direct investment (FDI) in the Association of Southeast Asian Nations (ASEAN) originates from China, making it the dominant investor in the region, as stated in a panel discussion titled "Investing in Asia: outlook and opportunities". As per data from the business consultancy firm Dezan Shira & Associates, China's FDI in this 10-country alliance was recorded at US$25.12 billion last year, witnessing a surge of over one-third from 2022.

"China now considers ASEAN as its biggest trade ally, surpassing both Europe and the United States," stated Elhedery. "This has resulted in a substantial advantage, creating a beneficial cycle in Asia with this 'China plus one' opportunity," he added.

Asia is forecasted to continue being the global powerhouse for economic growth. It's predicted that the region will report an economic expansion of approximately 4.6 per cent this year, making up around 60 per cent of the world's growth, as stated by the International Monetary Fund. The growth for the upcoming year is anticipated to be around 4.4 per cent.

Google has listed Keeta, owned by Meituan, and the video game AFK Journey, as some of the 'Best of 2024' Android applications. This recent acknowledgement of Keeta and AFK Journey highlights the growing refinement of app developers in China.