Month: January 2024

The Magnificent 7 value trade

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This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. Armstrong here, back after a week in California. I can report that Los Angeles in January is a lot more pleasant than New York in January, and that the best song to blast out of your rental car window on Rodeo Drive is the Decemberists’ “Los Angeles, I’m Yours”. I’m not sure of the market relevance of either point, but there you go. Email…

Evergrande liquidation to test Hong Kong’s legal reach in mainland China

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When Hong Kong judge Linda Chan ordered China Evergrande into liquidation on Monday, she opened a critical new phase in the slow-motion collapse of the world’s most indebted property developer — and set up a high-profile test of the reach of the former British colony’s courts. How the winding up of the company’s Hong Kong entity proceeds, and how much international investors can recover of the tens of billions of dollars they invested in Evergrande, will depend mainly on the attitude of authorities and courts across the border in mainland…

China Evergrande liquidation to test Hong Kong’s legal reach

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When Hong Kong judge Linda Chan ordered China Evergrande into liquidation on Monday, she opened a critical new phase in the slow-motion collapse of the world’s most indebted property developer — and set up a high-profile test of the reach of the former British colony’s courts. How the winding up of the company’s Hong Kong entity proceeds, and how much international investors can recover of the tens of billions of dollars they invested in Evergrande, will depend mainly on the attitude of authorities and courts across the border in mainland…

Hong Kong’s article 23: what is the new national security law and what will it mean for human rights?

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Hong Kong’s government has announced a public consultation period for a new national security law, telling residents it has a constitutional duty to strengthen legal mechanisms in response to “foreign agents and Hong Kong independence advocates … still lurking in our society”. The city’s chief executive, John Lee, said the law which is known as Article 23, would be added to Hong Kong’s mini constitution and work in concert with the existing national security law (NSL) – imposed by China’s central government in 2020 – but the latter would prevail.…

China to expel prominent rocket scientist from top body as corruption probe keeps sights on defence-aerospace sector

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Wang Xiaojun, who led the China Academy of Launch Vehicle Technology, would be removed as a representative on the Chinese People’s Political Consultative Conference (CPPCC), state broadcaster CCTV said without detailing any reason for Wang’s removal. The decision came after Wang Huning, the CPPCC chairman and Politburo Standing Committee member, chaired a regular meeting with his deputies. The meeting did not have the power to dismiss Wang outright; the decision is likely to be made final in March, before the “two sessions” annual meetings. 07:00 China airs 4-part anti-corruption series…

After China Evergrande, Real Estate Crisis ‘Has Not Touched Bottom’

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The unwavering belief of Chinese home buyers that real estate was a can’t-lose investment propelled the country’s property sector to become the backbone of its economy. But over the last two years, as firms crumbled under the weight of massive debts and sales of new homes plunged, Chinese consumers have demonstrated an equally unshakable belief: Real estate has become a losing investment. This sharp loss of faith in property, the main store of wealth for many Chinese families, is a growing problem for Chinese policymakers who are pulling out all…

Hong Kong in 2024: FT Globetrotter’s month-by-month guide to what’s on

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This article is part of FT Globetrotter’s guide to Hong Kong One of the globe’s critical commerce hubs has a culture and sports scene to match its financial clout. With religious celebrations, arts festivals and a flight of opera productions, 2024 in Hong Kong is chock-full of must-dos. Below are a selection of our highlights on the city’s cultural calendar. This is not an exhaustive list, so do share yours in the comments. January Art ‘Neo Rauch: Field Signs’, David Zwirner An exhibition of new paintings by the German artist.…

The Hong Kong 2024 calendar

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This article is part of FT Globetrotter’s guide to Hong Kong One of the globe’s critical commerce hubs has a culture and sports scene to match its financial clout. With religious celebrations, arts festivals and a flight of opera productions, 2024 in Hong Kong is chock-full of must-dos. Below are a selection of our highlights on the city’s cultural calendar. This is not an exhaustive list, so do share yours in the comments. January Art ‘Neo Rauch: Field Signs’, David Zwirner An exhibition of new paintings by the German artist.…

Goodbye to the days of ambient cultural liberalism

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Stay informed with free updates Simply sign up to the Chinese politics & policy myFT Digest — delivered directly to your inbox. The ambient sound of most modern western art is liberalism. Or at least, liberalism after a fashion: while very few mass-market blockbusters that come out of America — whether in print, or on computer or television screens — have well-defined or coherent politics, they do tend to have a sort of background Muzak of liberal, democratic values. Like the elevator music itself, Muzak-liberalism lacks much of the thought…

Hong Kong in 2024

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This article is part of FT Globetrotter’s guide to Hong Kong One of the globe’s critical commerce hubs has a culture and sports scene to match its financial clout. With religious celebrations, arts festivals and a flight of opera productions, 2024 in Hong Kong is chock-full of must-dos. Below are a selection of our highlights on the city’s cultural calendar. This is not an exhaustive list, so do share yours in the comments. January Art ‘Neo Rauch: Field Signs’, David Zwirner An exhibition of new paintings by the German artist.…