China

Deal Street Asia | English | News | Dec. 12, 2025 | UndeterminedMergers & Acquisitions

Hong Kong developer Lai Sun Development has agreed to sell its 50% stake in an office tower in the city’s central financial district to JD.com for HK$3.5 billion ($450 million). The sale involves 12 floors and parking spaces in the tower, with the other half owned by CCB Properties (Hong Kong). The transaction is set to close in January and marks one of the largest office asset deals in Hong Kong this year.

Lai Sun will receive net proceeds of HK$2.4 billion, which will improve its cash flow and help address mounting financial difficulties, including refinancing bank loans and selling assets. The sale price reflects a 6.7% discount from a July valuation due to current macroeconomic challenges and market sentiment. Lai Sun anticipates a non-cash loss of HK$261 million from the disposal but expects its financial position to improve significantly, shifting from net current liabilities to net current assets after completing the sale and refinancing a syndicated loan in September.

The developer has faced substantial financial stress, reporting a HK$2.9 billion net loss for the year ending in July and current liabilities exceeding current assets by HK$4.5 billion. It also has HK$524 million in bond repayments due next year, the largest among Hong Kong’s indebted issuers. JD.com plans to use the acquired office space for its own operations and expressed optimism about its growth prospects in Hong Kong, intending to continue investing in retail, logistics, and technology R&D within the city.

This transaction follows a similar recent deal where Alibaba and its affiliate Ant Group purchased the top floors of another Hong Kong office tower for $925 million, highlighting increased interest from e-commerce companies in the city's commercial real estate market.

Xinhua | English | News | Dec. 12, 2025 | UndeterminedTech Development/Adoption

On December 10, 2025, China successfully launched the Lijian-1 (Kinetica-1 Y11) carrier rocket from the Dongfeng commercial space innovation pilot zone near the Jiuquan Satellite Launch Center in northwest China. The rocket lifted off at 12:03 p.m. Beijing Time and deployed nine satellites into their planned orbits.

Among the payloads was a satellite from the United Arab Emirates named 813, designed for observing soil, climate, and the environment. Another significant satellite launched was China's first remote-sensing satellite for the power industry, Jixing High-Resolution 07D01, which features a spatial resolution better than 0.5 meters. It enables detailed monitoring of power grid infrastructure, including transmission lines and pylons, with a coverage area over 200 kilometers per pass.

Additional satellites included two remote-sensing units dedicated to water resource monitoring, urban management, and supporting the digital transformation of Hefei city in Anhui Province. The new satellites are expected to enhance surveying precision and offer various applications such as managing ultra-high voltage projects, assessing environmental impacts, disaster warning, and post-disaster damage evaluation.

回望2025，看见中国经济高质量发展的确定性

China Daily | Local Language | News | Dec. 12, 2025 | UndeterminedEconomic Growth

In 2025, China faced significant economic challenges stemming from uncertainties in the global environment and the transition between old and new growth drivers. Despite concerns about global trade disruptions, such as tariff increases and reduced shipping frequency on China-U.S. routes, the Chinese economy demonstrated remarkable resilience, maintaining steady progress and achieving its key economic and social development goals as the 14th Five-Year Plan concludes.

China’s response involved coordinated domestic and international efforts led by the Party Central Committee, with policy adjustments including a more proactive fiscal stance, issuance of 1.3 trillion yuan in ultra-long special treasury bonds, and a shift to moderately accommodative monetary policies. These measures helped stabilize the economy, maintain social stability, and support domestic demand, contributing to a 6.2% year-on-year increase in exports by November 2025 and securing China’s position as the world’s largest goods trader.

Key drivers of this resilience include China’s vast market of over 1.4 billion people, technological innovation, and industrial upgrading. Breakthroughs in AI, robotics, pharmaceuticals, and energy technologies characterized 2025, with domestic large language models and robot production reaching new heights. Innovation-led sectors outperformed in capital markets, reflecting a transition toward technological rather than factor-driven growth, while China earned significant recognition as a global innovation hub.

Institutional openness and stable macroeconomic governance further bolstered confidence in China’s economic prospects. With the OECD and IMF raising growth forecasts to 5% for 2025, global observers expressed optimism regarding China’s ability to weather external shocks. The Central Political Bureau’s December 8 meeting emphasized maintaining stable, quality growth in 2026 through proactive fiscal and monetary policies, continued structural reforms, and prudent macroeconomic management to sustain recovery and improvement.

Looking toward the 15th Five-Year Plan period, China acknowledges a complex and uncertain environment with intertwined opportunities and risks. However, the country remains committed to facing challenges directly, enhancing reforms, and maintaining confidence to achieve sustained high-quality development and advance toward long-term strategic goals.