https://www.scmp.com/rss/326122/feed Shared economy en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Two hotels changed hands in deals worth more than HK$2.3 billion (US$295 million) in Hong Kong on Wednesday, as cash-rich investors swooped in to pick up assets from the city’s slumping hospitality industry, betting on the sector improving once Covid-19 has been contained and the city’s borders have been reopened. Shun Ho Construction (Holdings), the wholly-owned subsidiary of Hong Kong-listed Magnificent Hotel Investments, has agreed to buy Bay Bridge Lifestyle Retreat, a 435-room waterfront... https://www.scmp.com/business/article/3177380/two-hong-kong-hotels-sell-us295-million-cash-rich-investors-bet?utm_source=rss_feed https://www.scmp.com/business/article/3177380/two-hong-kong-hotels-sell-us295-million-cash-rich-investors-bet?utm_source=rss_feed Thu, 12 May 2022 00:30:16 +0000 Some Hong Kong property-related start-ups are on the hunt for fresh capital as they ramp up expansion plans, suggesting an imminent rebound in market confidence as the coronavirus pandemic comes under control. Dash Living has secured US$8.8 million in its second round of funding from new and existing institutional investors as the co-living operator looks to expand beyond its current focus on the Hong Kong and Singapore markets. Co-working space operator theDesk is seeking more capital as it... https://www.scmp.com/business/companies/article/3128354/hong-kong-property-start-ups-seek-capital-boost-anticipation?utm_source=rss_feed https://www.scmp.com/business/companies/article/3128354/hong-kong-property-start-ups-seek-capital-boost-anticipation?utm_source=rss_feed Mon, 05 Apr 2021 23:00:20 +0000 This article originally appeared on ABACUS When the coronavirus outbreak exploded in China in late January, restaurants and karaoke parlors were forced to abruptly shut down. For workers around the country, the halt to business meant that many suddenly found themselves trapped in an uncertain future: Will my company stay afloat? Will I keep my job? Not every business has been in the same predicament, though. As people who hunker down at home switched to buying groceries online, supermarkets with... https://www.scmp.com/abacus/culture/article/3076134/forget-bike-sharing-china-tries-employee-sharing-during-pandemic?utm_source=rss_feed https://www.scmp.com/abacus/culture/article/3076134/forget-bike-sharing-china-tries-employee-sharing-during-pandemic?utm_source=rss_feed Fri, 20 Mar 2020 09:00:16 +0000 When the coronavirus outbreak exploded in China in late January, restaurants and karaoke parlors were forced to abruptly shut down. For workers around the country, the halt to business meant that many suddenly found themselves trapped in an uncertain future: Will my company stay afloat? Will I keep my job? Not every business has been in the same predicament, though. As people who hunker down at home switched to buying groceries online, supermarkets with online stores have become an unlikely... https://www.scmp.com/culture/forget-bike-sharing-china-tries-employee-sharing-during-pandemic/article/3075923?utm_source=rss_feed https://www.scmp.com/culture/forget-bike-sharing-china-tries-employee-sharing-during-pandemic/article/3075923?utm_source=rss_feed Fri, 20 Mar 2020 09:00:13 +0000 This article originally appeared on ABACUS Walking along the streets of Beijing, it’s not uncommon to see sights like this: For a while, shared bikes were all the rage in China. At the height of the bike-sharing boom in 2016, there were believed to be some 60 startups all trying to fill up street corners with bikes. The idea is to make it as easy as possible for users to find a bike anywhere at any time, and allow them to quickly ride off after scanning a QR code using a smartphone app. The... https://www.scmp.com/abacus/tech/article/3029351/nearly-2-million-shared-bikes-are-now-clogging-chinas-capital?utm_source=rss_feed https://www.scmp.com/abacus/tech/article/3029351/nearly-2-million-shared-bikes-are-now-clogging-chinas-capital?utm_source=rss_feed Tue, 14 May 2019 14:41:14 +0000 Walking along the streets of Beijing, it’s not uncommon to see sights like this: For a while, shared bikes were all the rage in China. At the height of the bike-sharing boom in 2016, there were believed to be some 60 startups all trying to fill up street corners with bikes. The idea is to make it as easy as possible for users to find a bike anywhere at any time, and allow them to quickly ride off after scanning a QR code using a smartphone app. The reality is that bikes that can be found... https://www.scmp.com/big-guns/nearly-2-million-shared-bikes-are-now-clogging-chinas-capital/article/3010176?utm_source=rss_feed https://www.scmp.com/big-guns/nearly-2-million-shared-bikes-are-now-clogging-chinas-capital/article/3010176?utm_source=rss_feed Tue, 14 May 2019 14:41:14 +0000 Update: Includes reaction from Didi. Uber and Lyft were rocked this week by drivers protesting for better wages and working conditions in the build-up to Uber’s IPO. The protests spread through two dozen cities around the world until Friday, when Uber finally started trading and raised US$8.1 billion -- near the bottom of their predictions. The protest didn’t go unnoticed in China, where Didi has ruled over ride-hailing since buying out Uber’s China business in 2016. While US gig workers have... https://www.scmp.com/big-guns/uber-didi-drivers-had-their-own-strikes/article/3009646?utm_source=rss_feed https://www.scmp.com/big-guns/uber-didi-drivers-had-their-own-strikes/article/3009646?utm_source=rss_feed Fri, 10 May 2019 14:18:07 +0000 This article originally appeared on ABACUS Update: Includes reaction from Didi. Uber and Lyft were rocked this week by drivers protesting for better wages and working conditions in the build-up to Uber’s IPO. The protests spread through two dozen cities around the world until Friday, when Uber finally started trading and raised US$8.1 billion -- near the bottom of their predictions. The protest didn’t go unnoticed in China, where Didi has ruled over ride-hailing since buying out Uber’s China... https://www.scmp.com/abacus/tech/article/3029343/uber-didi-drivers-had-their-own-strikes?utm_source=rss_feed https://www.scmp.com/abacus/tech/article/3029343/uber-didi-drivers-had-their-own-strikes?utm_source=rss_feed Fri, 10 May 2019 14:18:07 +0000 China’s bike sharing bubble has burst, and some users have decided that they don’t want to wait to get their deposits back. Bike sharing in China is really more like bike rental -- users aren’t sharing their own bicycles, they’re borrowing bikes owned by a company. Each ride only costs a few cents, but users need to pay deposits that vary from about US$15 to US$50. Over 40 bike-sharing startups appeared in the past year, but only a handful still exist. According to Chinese media, shared bikes... https://www.scmp.com/start-ups/spurned-users-decide-sell-shared-bikes-make-their-lost-deposits/article/2132489?utm_source=rss_feed https://www.scmp.com/start-ups/spurned-users-decide-sell-shared-bikes-make-their-lost-deposits/article/2132489?utm_source=rss_feed Thu, 08 Feb 2018 07:45:30 +0000 This article originally appeared on ABACUS China’s bike sharing bubble has burst, and some users have decided that they don’t want to wait to get their deposits back. Bike sharing in China is really more like bike rental -- users aren’t sharing their own bicycles, they’re borrowing bikes owned by a company. Each ride only costs a few cents, but users need to pay deposits that vary from about US$15 to US$50. Over 40 bike-sharing startups appeared in the past year, but only a handful still... https://www.scmp.com/abacus/tech/article/3028318/spurned-users-decide-sell-shared-bikes-make-their-lost-deposits?utm_source=rss_feed https://www.scmp.com/abacus/tech/article/3028318/spurned-users-decide-sell-shared-bikes-make-their-lost-deposits?utm_source=rss_feed Thu, 08 Feb 2018 07:45:30 +0000