China-US Ties Hold Up Property Deal With Hong Kong Consulate, Developer Says

China-US Ties Hold Up Property Deal With Hong Kong Consulate, Developer Says
A worker cleans the front wall of the United States Consulate General in Hong Kong on Dec. 17, 2005. Claro Cortes IV/File Photo/Reuters
Reuters
Updated:

HONG KONG—Hong Kong developer Hang Lung Properties said it was unable to complete the purchase of a property owned by the U.S. consulate as scheduled on Wednesday because it involved foreign affairs between China and the United States.

The latest twist in the $331.5 million deal in an upscale location in the financial hub comes amid growing tension between the world’s two biggest economies over a host of issues.