GBA Briefs: 6/3/2020

Property market slumps: Although current reports suggest the province’s property markets are coming back to life, data shows how badly transactions fell in February. Zhuhai was the worst-hit, collapsing to almost zero, while Guangzhou and Shenzhen saw declines of 61% and 35% respectively, according to data from local property agents.

More scientific installations in Shenzhen: Shenzhen has been designated as the fourth “comprehensive national science centre”, following Beijing, Shanghai and Hefei. This signals further deployment of national-level scientific research facilities in the city, including laboratories, special devices and high-level universities. Southern Metropolis Daily.

Shenzhen eases schooling challenges: The city plans to open or rebuild 30 primary and secondary schools this year, which would lead to over 40,000 new places for incoming students. Two new high schools are also set to be built, to take a total of 6,150 high school students.

Huawei in Russia: Huawei is working with Russia’s state-owned bank Sberbank Group on a cloud service platform serving enterprises of all sizes, in a move to tap into Russia’s digital market. Caixin.

WeChat dethroned? Technode has an interesting take on how Bytedance’s Douyin short-video platform (Tik Tok) has grabbed eyeballs away from Shenzhen-based Tencent’s ubiquitous all-in-one app. Technode

Hong Kong plunges: Stocks in the city fell more than 1,000 points today, the biggest one-day loss in more than two years. SCMP.

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