Sun. Jan 20th, 2019

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Xi calls for shared future in cyberspace

President Xi Jinping addresses the opening of the Second World Internet Conference in Wuzhen, Zhejiang province. wu yizhi / china daily The Wi-Fi icon appeared almost everywhere — in bars, on buses and buildings — in Wuzhen in Zhejiang province during Dec. 16 and 18. Nearly all the town’s 59,000 inhabitants can connect to the Internet simultaneously through 4G networks. It was in this Internet empowered environment that President Xi Jinping laid out his vision for the Internet on Dec.

China Property – London’s upcoming mansion tax plan spooks luxury home market

Foreign investors in London are waiting to see whether the Labour Party will take power next year and bring in the promised mansion tax on properties valued minimum GBP2 million (USD3.22 million). According to a report from Bloomberg, the Labour Party also plans to tax owners of overseas second homes more than those who only have a single property to live in the United Kingdom. The planned tax adds to the concerns of foreign buyers who already have to cope with a strong pound and some levies imposed by British Prime Minister David Cameron.

China Property – Market roundup: Asian real estate firms expand into retail sector

A number of Asian real estate firms are moving into the rapidly evolving retail sector in the region. Vietnam Hanoi-based developer VinGroup recently announced in a stock exchange filing that it would be acquiring at least a 70 percent interest in supermarket operator Ocean Retail Co, a unit of the Ocean Group, for an estimated USD9.9 million. Vingroup’s founder, Pham Nhat Vuong, who is known to be the country’s first-ever billionaire, is also taking on the Southeast Asian region’s growing e-commerce industry.