Standard Chartered and Chong Hing Bank are not accepting mortgage requests from potential homebuyers at the Le Mont residential project in Tai Po, according to property agents. While Standard Chartered declined to comment, Chong Hing Bank stated that they evaluate mortgage loan applications based on the property’s value, quality, and the applicant’s repayment ability. This decision by the banks is a setback for China Vanke, the developer of the project, as they face significant debt maturities this year and are expected to post a record net loss for 2024 amidst a prolonged property downturn in China.
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Dalai Lama says his successor will be born in ‘free world,’ outside China
The Dalai Lama declared that his successor would be born in the "free world" outside China, prompting Beijing to assert control over the selection process in Tibetan Buddhism. China's occupation of Tibet since 1950 has led to tension and resistance, with the Dalai Lama fleeing to India in 1959. Despite China's claims, the Dalai Lama vows that any successor chosen by China will not be respected and continues to advocate for Tibetan rights amid accusations...
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