20/12 GBA Briefs

Guangzhou welcomes: Hong Kong and Macau residents no longer need to provide any paperwork other than their IDs to purchase homes in all districts of Guangzhou, the city government announced this week. Previously, they had to show that they lived and worked in the city. They will not, however, be allowed to buy more than one home. Read more (in Chinese)

Nansha to upgrade: Guangzhou will upgrade the Nansha district in land area, current functions as well as its mission in Guangdong’s future reform, although no details are available for the moment as the government just began on Thursday calling for proposals. Read more (in Chinese)

Tight capital controls: The State Administration of Foreign Exchange said one of its most important jobs next year is to mitigate major financial risks by preventing “abnormal” cross-border capital flows and combating illegal trading activities. Read more on CNN.

Guangming district tops: Shenzhen’s Guangming district has recorded an increase of 28.3% YoY in fixed-asset investment from January to November in 2019, topping the list across the city. Read more (in Chinese)

HK police freeze funds: Hong Kong police have frozen some HK$80 million raised by activists to support anti-government protesters, prompting concerns of legality. Read more on SCMP.

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