17/12 Briefs

LRT suspended for Xi: Macau will suspend the Light Rapid Transit service, which was just opened last Tuesday, during President Xi’s visit from Wednesday to Friday, citing it’s “in coordination with the special security measures of the Government of Macau”. Read more on Macau Daily Times.

Macau credit ratings: Fitch Ratings maintained Macau’s credit ratings at AA, based on “the assumption that the territory’s governance, rule of law, economic policy framework, and business and regulatory environments remain distinct from that of the mainland”, but downgraded the rating outlook from stable to negative, citing the SAR’s increasing economic integration with mainland China as well as sluggish tourism and gaming industry. Read more on Macau Daily Times.

Huawei in Norway: Huawei has been approved to supply 5G network equipment along with Sweden’s Ericsson for Norwegian mobile operator Telenor over the next 4 to 5 years. Read more on Caixin.

OneConnect expands IPO: OneConnect, the cloud fintech platform owned by Ping An Insurance Group, scaled up its US IPO to raise US$312 million last Thursday, after cutting it almost by half just a day before. Read more on Bloomberg.

Nansha eases housing policy: Following the lead of Foshan, Guangzhou’s Nansha district has eased its home-buying policy to attract university graduates, as well as residents of Hong Kong and Macau. Henceforth, they will be given the same status as local registered residents. Read more in Chinese.

Guangzhou IP protection: Guangzhou Intellectual Property court marked the 5th anniversary of its establishment on Monday, with 16,872 copyright infringement cases settled over the period. Its quick-judging team, set up to focus on patent-related cases, has shortened the settling period by more than 4 months to 52 days, according to the court. Read more in Chinese.

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