GBA Briefs: 25/11/2019

Megvii IPO: Chinese AI startup Megvii Technology, which was blacklisted by the US government, is “fielding additional queries” from HKEx before its upcoming IPO in Hong Kong. Read more on Bloomberg.

Portuguese tie-up in GBA: Hong Kong conglomerate King Wai Group has acquired BNI Europa, a Portuguese-based digital bank, with an eye on cross-border digital financial services in the GBA. It plans to open a branch in Macau, Zhuhai, Shenzhen or Guangzhou and another in Southeast Asia. Read more on SCMP.

Nanshan boosts subsidies: Shenzhen’s Nanshan district, home to a number of China’s tech giants, could provide financial support for projects located in the district of up to 10 million yuan. Read more in Chinese.

Guangzhou eases home-buying curbs: Non-hukou holders in Guangzhou can provide proof of payment of either social security or income tax in order to secure permission to buy homes, in a move to better meet the housing demands from non-residents in the city. Read more in Chinese.

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