HONG KONG

Property Disclosures Required: Hong Kong companies with property investments in China must disclose detailed information about their value when seeking a stock exchange listing, according to a ruling by Hong Kong’s stock exchange and its securities regulator, the Securities and Futures Commission. New listing applicants must, among other things, assess what their land investments would be worth if they were developed, according to the commission. Valuing Chinese property is difficult, the regulators said, because information about comparable properties is hard to get and market conditions vary widely from city to city. The commission said it issued the guidelines because property in China “accounts for an increasing percentage of the assets of companies seeking to register prospectuses in Hong Kong.”