Hang Lung on Confidence in China Property

[@MasterLeong888]

love listening to ronnie speak hope he will be around for a long long time thank you sir

[@leanlifer]

His son is also very brilliant.

[@greaterbayareahero1401]

Hong Kong property will go down since overpriced. It will be going down in line with the China properties especially around the Greater Bay Area. Residential will look for value. HK is now considered old in their infrastructure in comparison to China. China is just brimming with new talent and that will shine thru in time. China property will go up in the next 2 years as people see value in the Greater Bay Area with good locations. China has an advantage since all areas around the new development is a clean slate to work from and they get the best designers to build the next generation of clean, technologically advance smart cities. Watch this space.

[@qazwsxedc964]

Not only will it go down, it will HALF from the peak.

[@LuckyJojo-yb9vt]

Excellent guests. Great insights.

[@louistan7560]

Very enlightening. Pragmatism and facing reality are the correct philosophy. There is no logic in politics. Many muss that. Economics is the way forward. Great minds behind great companies can only bring success

[@godzillamothra5983]

Ronnie must be a fun person to hang out with

[@antediluvianclockwork9769]

not as fun as your mom

[@wul51]

Ronnie Chan, always has the best speeches, the best shareholder letters, and the worst company performance.

[@maximme]

words of wisdom

[@paulgao7269]

One has to love Ronnie for his plain talk with facts, especially the part about “yellow ribbon” people who are a bunch of violent thugs

[@Lau18967]

very insightful honor chair

[@brucewane6282]

Ronnie 🎉❤

[@beowulf1312]

What money was being repatriated by the British government? When Crown Land was sold in Hong Kong, the sale proceeds went to the Hong Kong government and was used as their income and put into their capital account. I am not aware of any being "repatriated." Perhaps Ronnie could supply some evidence.

[@kristyhu1099]

Remember British tried to start mega project like the new airport before handing over Hong Kong? China had to curb that too

[@DTOYWRLD]

Brits sacked their summer palace and bled HK dry.. Congrats to HK, good to finally be free from your former colonial master.

[@beowulf1312]

@kristyhu1099 The PRC had this fear, quite unjustified, and obstructed the new airport until poor old Kai Tak was bursting at the seams. Eventually, through many negotiations, Chek Lap Kok was built and completed, late, one year after the handover, and has been a huge success and since expanded. The third runway is nearly completed. So the British were right.

[@beowulf1312]

@user-tz1pr1ps2o This is not a rational or sensible reply. The French sacked the Summer Palace first. They didn't bleed Hong Kong dry, as was evident in the Hong Kong of 1997. They helped create Hong Kong since 1841.

[@beowulf1312]

The share prices have been hopeless for years since before covid.

[@quietiger1288]

"everybody is in hell "🤣

[@beowulf1312]

They omitted why money flows have been out. In the property sector, the issue is the huge debt overhang on the mainland, causing bad activity levels and sentiment not only in property but also in banking. In tech and other areas not affected by property, it's Pooh Bear's interference with Ant and Alibaba etc.

[@DW-op7ly]

In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers. Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate. Even then, It took them almost 14 years to get their overheated real estate under control Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018 Why is their Central Government doing this? Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen. Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need In China Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married Thus the common prosperity push and the crackdown on the overt displays of wealth in China Although there is now attempts to shore up real estate Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest The solution is simple allow the folks who are owed a home to take one by these Property Developers And allow the few hundred billion less well off rural folks to buy this real estate at a discount

[@rajahua6268]

@@DW-op7ly Let's hope when the less well off move into those properties, it is still able to make it to a livable standard. Many are just a fake shell.

[@DW-op7ly]

@@rajahua6268 most Chinese homes are sold as a shell If you are going to talk about China then learn a little about China This has been the case for a long time now 👇 Do China's ghost cities offer a solution to Europe's migrant crisis? Even though there are between 20 and 45 million unoccupied homes across China, which account for roughly 600 million square meters of uninhabited floor space - enough to completely cover Madrid - these places are not the urban wastelands they are often posited to be. While many of China's new cities and urban districts are deficient in people they are not deficient in owners. Nearly every apartment that goes on the market in China is quickly purchased, often at exorbitant prices that commonly range into the hundreds of thousands of dollars. Far from being unwanted infrastructure that could seamlessly be doled out to refugees, those arrays of vacant high-rises are actually the proud possessions of people who paid a lot of money for them. A huge portion of the homes that are purchased in China function very much like stocks or a trade-able commodity. As an incredible number of new apartments are sold as unfinished concrete cavities without any interior fit out or even windows, they are in no way immediately livable. Strange as it may seem, they are very actively bought and sold in this bare-bones form. In fact, investors often prefer them that way. In many ways they are purely economic entities, quantifiable placeholders of value that are traded on the open market akin to precious metals. Just as one doesn't need to mold a piece of gold into something usable, like a piece of jewelry, for it to have value and an economic function, an apartment in China doesn't need to have people living in it for it to be economically viable. "Empty units leave flexibility for quick sales in a changing market or need to cash in quickly," said Barry Wilson, the founding director of Barry Wilson Project Initiatives, a Hong Kong-based urban design firm. Another reason for the sheer number of unused apartments in China is the fact that there is often little financial incentive for owners to do anything with them after purchase. There is no yearly property tax in China, so vacant properties are not a financial drain on their owners. While the potential returns that could be had from renting them out (1 percent or so) is often not worth the hassle - especially because it costs tens of thousands of dollars to construct the interiors of new apartments in preparation for tenants. This is combined with the fact that Chinese homeowners, especially investors who have multiple properties, are remarkably un-leveraged. According to Mark Tanner, over 80 percent of homes in China are owned outright. This means that most homeowners, especially the big investors with multiple properties, generally don't have any mortgages to pay off or any other leans, so there isn't as much financial pressure to make a profit from these homes in the short term. Reuters

[@beowulf1312]

I think this was a few weeks ago. Little Ronnie sounds quite worried. His Hopewell site in WCH is large and expensively built. He worries about how he can let it out adequately in the short term.

[@agoodchow]

The Interview Might be two months ago. Ronnie Chan related to and worried about Hopewell site ? Is Gordon Wu family in control of Hopewell ? Sounds like your comment was NOT based on Facts, instead you --- @beowulf1312 had hidden agenda in writing your comment. .

[@sushievan3378]

Tricky trades 🎉

[@EleanoreCheung-uy6zo]

AI translation isn't accurate “raise nice one" 😊

[@thomasrogers9146]

THEIR WILL BE NO MORE SPECULATION IN ANY SECTOR OF THE CHINESE ECONOMY. THE CHINESE HAVE LEARNED THEIR LESSONS AND ARE NOT GOING TO ALLOW WESTERN OR LOCAL INVESTMENTS THAT CREATES BOBBLES AND CASINO MENTALITY. THIS A GOOD THING.

[@leanlifer]

Sometimes bubbles are great. Economy of China now really needs speculations for growth. The consumer confidences are so low right now, people need to feel the money is easy to make before they are willing to spend.

[@user-co5dy9ed5z]

If you listen carefully to Ronnie, it's all jibberish. Nothing based in fact, just a bunch of cherry-picked ideas to support his pro-PRC political views. But what more would you expect from a rich kid who inherited all of his position and wealth. Where would he be if he wasn't born into this family?

[@wowokingxoxo]

death spiral

[@beowulf1312]

Ronnie's comments about "yellow" people during the protests of 2019 are unfair and not factually based. But naturally, a property landlord feels that😅 the China trade is great because his money is made that way.

[@kristyhu1099]

Which part of it is untrue

[@jackjhmc820]

U forgot the Rejection of even 1% of development of country park from pro democracy politicians? Israel Labelled their army asthenia most peaceful in the world too, so Labelling themselves pro-democracy while supporting rioters and openly undermine the rule of law like supporting the 5 demands including demanding all rioters arrested for rioting must be released unconditionally. How can anyone be qualified to fight for democracy when they support the notion that freedom fighters must be above the law? Everyone is equal before the law, which is the foundation of Liberal democracy, and you want to destroy that and claim you are democratic?

[@dannywong5611]

its factual..."yellow-ribbon" people just have an automatic disdain for anything mainland China. They think of themselves as being better than Mainland Chinese people, but in fact they rested on their laurels during the 2000's and let Mainland China surpass them. This yellow ribbon thinking is a way of making themselves feel important and different..but at the end of the day, western people look at HK chinese, Mainland Chinese, Taiwan Chinese, Filipinos, Thai, Viet, Korean, Japanese all the same. Just look at the asian hate crimes in the US...most are against non-chinese asian ethinicties despite the attackers saying they hate chinese people. If asians are smart, stop the Western kow-towing and unite together.