GBA Briefs: 5/5/2020

Beaches packed: Data from Baidu Maps shows Shenzhen’s Dameisha waterfont area as the country’s most densely packed tourist attraction on Day 4 of the five-day Labor Day holiday, while the city’s Coco Park shopping mall, in the Futian District, is the country’s most congested shopping area. Shenzhen, Dongguan and Guangzhou were also in the country’s top five for influx and outflux of people. SZN.

Hotels full: Shenzhen’s Yantian district, which includes the beaches of Dameisha and Xiaomeisha, saw hotels sell out quickly over the Labor Day long weekend, while restaurants were back to doing large-volume business, according to local media. SZN.

Bars to reopen: Most Hong Kong venues shut because of the Covid-19 pandemic will be allowed to reopen from Friday. These include fitness centers, gaming arcades, mahjong parlors and cinemas. Bars will also be able to get back to business, as long as they operate at half capacity, host no music shows and close dance floors, while seating no more than four people at each table. Nightclubs, saunas, party rooms and karaoke lounges will remain shut. SCMP.

Homes on Tik Tok: Foshan-based Country Garden Holdings is the latest company to jump on to the TikTok live-streaming platform. China’s largest developer by total gross floor area sold is offering 10,000 new homes across more than 60 cities on the video platform, from 8pm today. The company said discounts of up to 50% will be up for grabs during the two-hour variety show hosted by celebrities and pop singers. SCMP.

Macau slumps: Macau’s property market has been dealt a heavy blow by the coronavirus outbreak. Residential property transactions in Q1 were at the lowest levels since 2009, according to official data, as 1,016 homes were sold, down 22% YoY. The average price of a home was 93,133 patacas (US$11,647) per square meter in March, a 7.5% drop from 100,636 patacas in January. SCMP.

Sales plunge: Hong Kong retail sales in Q1 marked a historical low, plunging 36.9% by volume from the same period a year ago. SCMP.

NetEase likes HK: NetEase has followed other Chinese tech giants in planning a secondary listing in Hong Kong, and the share sale could happen as soon as the second half of this year, according to sources. The Hangzhou-based online gaming and entertainment company, which currently trades on the Nasdaq, has a market value of about US$43 billion. SCMP.

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