China

HONG KONG: PwC is making "tangible investments" to ensure the Big Four firm has high quality and sustainable business in China, it said in a memo to staff after Chinese regulators on Friday hit the company's mainland unit with a record penalty.PwC Zhong Tian LLP was hit with a six-month suspension and a record fine of 441...

HONG KONG: China’s residential real estate slump deepened again in July despite the country’s most forceful efforts yet to support the property market.The value of new-home sales from the 100 biggest real estate companies slumped 19.7% from a year earlier to about 279 billion yuan (US$38.6bil), faster than the 17%...