Residential buildings in Shanghai  on Friday, Sept. 29, 2017. Photo: Bloomberg
China drafts rules to give developers more access to escrow funds

The new rules would help developers meet debt obligations, pay suppliers and finance operations by letting them use the funds in escrow that are controlled by municipal governments with no central oversight.

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The Peninsula Hotel in Tsim Sha Tsui, Kowloon. Photo by: Dukas/Universal Images Group via Getty Images
Tycoon Kadoorie to pay US$337m to raise stake in Peninsula hotel owner

The Kadoorie family is seeking to raise its stake in the operator of the Peninsula hotel chain in a US$337 million transaction, or almost double the market price. The deal is subject to a waiver from the city’s takeover rules by March 31.

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