10/12 GBA Briefs

HK property sluggish: Hong Kong’s property market has fallen further recently, with 57% of respondents to a survey showing no interest in buying a property, up sharply from 49% last year. Read more on SCMP. 

HKMA chief reassures: Despite the ongoing social unrest, which has affected the economy, Hong Kong’s financial system is still in stable condition judging from its high capital adequacy ratio, exchange rate and the stock market, said Eddie Yue Wai-man, head of the Hong Kong Monetary Authority. He also said the HKMA will focus on establishing a cross-border wealth management platform in the GBA. Read more in Chinese.

SenseTime bullish: AI startup SenseTime expects revenues to more than triple to US$750 million this year, despite being blacklisted by the US in October. The company is a leader in facial recognition software. Read more on Reuters.

New metro line in Nanshan: Shenzhen opened the phase 2 of its Metro Line 9 on Monday, which runs through the core area of Nanshan district with 10 stations along the way. Starting from Shenzhen Bay and ending at Qianhai-Shekou Free Trade Zone, it shortens the time to travel across the Nanshan Science and Technology Park to 20 minutes. Read more in Chinese.

Legal system in GBA: The first Global Lawyer Forum was held in Guangzhou from Monday to Tuesday, with the theme centred on science, technology and legal services. The government-backed event featured some 800 law practitioners from 57 countries. Read more in Chinese.

Macau LRT opens: Macau’s Light Rail Transit system has opened, with glitches and reports of frustration from passengers. Read more (In Chinese)

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