Bloomberg Originals
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How a Hong Kong Dynasty Was Hit by China's Property Crisis
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June 27, 2025
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9:55Now PlayingA Hong Kong family dynasty in turmoil, with no known succession plan and billions in debt as China’s property crisis continues. How will one of Asia’s richest families navigate these uncertain waters?
UPDATEOn June 30, Adrian Cheng announced he was leaving New World less than a year after stepping down as its chief executive. Cheng tendered his resignation as a nonexecutive director and nonexecutive vicechairman of New World effective July 1. He said he wished to devote more time to “public services and other personal commitments." Read more about it here
For more about New World’s debt refinancing New World Gets 100% Lender Approval for $11 Billion Financing
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