New World Development and China Merchants Land broke ground recently on a joint residential project in Pak Shing Kok, Tseung Kwan O, with presales expected to begin as early as 2028, when surveyors say pricing pressure may have eased. James KT Cheung, executive director of the valuation department at Centaline Surveyors, said property prices remain lower than they were in 2022, when the consortium won the project. “If property prices can recover to 2022 levels by the time the Pak Shing Kok...

China’s tax authorities have issued a final call for high-net-worth individuals to disclose their overseas trust gains, a move analysts believe will further raise concerns in Hong Kong and other overseas tax havens used by wealthy Chinese. “We remind relevant taxpayers to promptly review their offshore trust arrangements,” the State Taxation Administration said on its website on Monday, three days ahead of the 90-day grace period set to expire on October 22. “To avoid late payment penalties and...

China’s tax authorities have issued a final call for high-net-worth individuals to disclose their overseas trust gains, a move analysts believe will further raise concerns in Hong Kong and other overseas tax havens used by wealthy Chinese. “We remind relevant taxpayers to promptly review their offshore trust arrangements,” the State Taxation Administration said on its website on Monday, three days ahead of the 90-day grace period set to expire on October 22. “To avoid late payment penalties and...