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Sunday, April 06, 2025
Sunday, April 06, 2025

China's Property Troubles Worsen as State-Backed Sino-Ocean Suspends Debt PaymentsChina’s real estate woes deepened on Friday as state-backed developer Sino-Ocean Group Holding suspended debt payments for all offshore debt until a restructuring was finalized. It also said it has halted trading its U.S. dollar securities in Hong Kong. According to the Beijing-based property developer, “holistic restructuring” of its offshore debt is the only way forward as it confronts rising liquidity challenges due to a sales slowdown throughout the wider sector since 2021. “Starting from the second half of 2021, the real estate sector in China has experienced significant changes and real estate developers have been confronted with unprecedented challenges with regard to liquidity and funding,” the company said in a Hong Kong stock exchange filing (pdf)....

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Competition Watchdog Could Sever Qantas-China Eastern Airlines PartnershipThe Australian Competition and Consumer Commission (ACCC) could refuse to authorise Qantas and China Eastern Airlines to continue an ongoing codeshare agreement over fears it could impact fares. The two airlines are seeking to extend their joint coordination agreement to coordinate cargo and passenger transport operations between Australia and China until the end of March 2024. “We are concerned that the authorisation would provide Qantas and China Eastern with the opportunity and incentive to increase prices, compared to what they would charge absent the alliance, by limiting or delaying the introduction of additional capacity on the Sydney-Shanghai route as passenger demand continues to grow,” ACCC Commissioner Anna Brakey said on Sept. 15....

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US Eyeing Access to Additional Military Bases in PhilippinesThe United States is considering gaining access to more military bases in the Philippines under the countries’ Enhanced Defense Cooperation Agreement (EDCA), a U.S. commander said on Thursday. Adm. John Aquilino, commander of U.S. Indo-Pacific Command, said that he and Philippine military chief Romeo Brawner have “made recommendations” to their senior leaders about expanding EDCA sites. “We are in discussions, but everyone has a boss, and we both have bosses. We’ll have those conversations I think in private and give our bosses some decision space on how they’d like to go forward,” he said, according to the Philippine News Agency....

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Mainland Student Charged With Sedition for Planning to Display Pillar of Shame in Hong KongA doctoral law student from mainland China has been charged with planning to display publicly a large “Pillar of Shame” banner in Hong Kong, and she has pleaded guilty to a charge of “attempting to commit or prepare to commit an act with seditious intent.” She appeared at the West Kowloon Magistrates’ Court on Sept. 11 and will be sentenced by Judge Peter Law Tak-chuen the following day. The defendant remains in custody. According to the case, the defendant, Zeng Yuxuan (23 years old), received a 9-meter (29.52 feet) by 3-meter (9.84 feet) banner showing the “Pillar of Shame” with the words “The Tiananmen Massacre June 4th, 1989; The old cannot kill the young forever” on its base, from mainland Chinese pro-democracy activist Zhou Fengsuo in May. On June 1, when the police searched her residence, they found a 1.5-meter (4.92 feet) by 0.6-meter (1.96 feet) “Pillar of Shame” banner hanging in her apartment....

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