GBA Briefs: 25/7/2019

Huizhou Talent:Huizhou is providing new housing benefits aimed at attracting top talent. Individuals will qualify for personal mortgages of up to RMB1 million, and RMB1.5 million for a couple. This is up from RMB400,000/RMB600,000. Read more in Chinese. 

Shenzhen Wealth:Shenzhen residents’ disposable income rose by a nominal 8.5% in the first half of this year, at an average of RMB32,337. Actual expenditure grew more slowly, up 6.5% to RMB21,849 . Read more.  

Guangzhou Tax:Guangzhou’s domestic tax revenue rose 1.2% in the first half, to RMB258.24 billion. This was 8.1 percentage points lower than the same period last year. Personal taxes were cut by RMB12.27 billion, accounting for nearly 40% of the total cut. Read more.  

Macau-Pyongyang Flights:Direct flights between Macau and Pyongyang by North Korea’s flag carrier Air Koryo will be resumed on August 2. There will be two return flights per day.Read more.

New World:NWS Holdings, the infrastructure arm of New World Development, is considering selling its public transport business in Hong Kong for about US$300 million. Read more. 

Transsion Rises:Shenzhen Transsion Holdings, Africa’s No.1 handset vendor, has joined the wave of IPOs on Shanghai’s high-tech board, as the company seeks funds to fuel its international expansion. Read more. 

Renrenle Relief:Shares of Shenzhen-based supermarket chain China Renrenle rose after its takeover announcement by a state-run conglomerate. Renrenle has lost RMB1.83 billion over the past five years due to the impact of e-commerce on the bricks-and-mortar retail sector and cut-throat competition. Read more.

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