Bloomberg China approved its first large battery storage pilot project as it seeks to maximise clean energy output and improve grid stability. The initial phase of the venture in the northwestern prov-ince of Gansu will require 1.2 billion yuan ($174 million) of investment and have a capacity of 720 megawatt hours and storage duration of four hours, the Gansu Provincial …

Bloomberg One of Hong Kong’s biggest sales of residential land this year added to the picture of a worsening home market. China Overseas Land & Investment Ltd. won the site in Kai Tak with a bid of $1,726 per square foot of floor area. That’s 13 percent less than Goldin Group paid last month for a nearby parcel. “The number …

Bloomberg Contract signings to purchase previously owned US homes unexpectedly fell for a second month in November, offering yet another sign that the housing market is struggling. The index of pending home sales decreased 0.7 percent, according to data by the National Association of Realtors in Washington. The gauge slumped 7.7 percent from a year earlier on an unadjusted basis, …