Tuesday, September 30, 2014
China’s factory sector shows signs of steadying
China’s vast factory sector showed signs of steadying in September as export orders climbed, a private survey showed on Tuesday, easing fears of a hard landing but pointing to a still-sluggish economy facing considerable risks.
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37 bank branches closed in Hong Kong
Bank customers were this morning reminded by Hong Kong’s monetary authorities that many bank branches in protest zones remained closed while ATM machines in these areas will likely run out of cash ahead of a two-day public holiday.
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Korea factory output falls most since 2008 financial crisis
South Korea’s factory output in August marked its worst fall since the 2008 global financial crisis, raising concerns about the pace of recovery in Asia’s fourth-largest economy even though the government said temporary factors were to blame.
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Monday, September 29, 2014
HKMA activates emergency action plan as Occupy protests extend
The Hong Kong Monetary Authority said it had launched its emergency contingency plan to ensure the smooth running of financial markets on Monday morning as mass protests by the pro-democracy Occupy Central movement spilled over from the weekend.
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Beijing's closed door meeting with Hong Kong tycoons erodes trust
We all know how busy Chinese president Xi Jinping can be, so when he calls for a meeting, it must be top priority. For the richest Hong Kong tycoons, it is unusual to meet Xi in a group meeting, particularly to discuss politics rather than business.
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Four Russian banks plan to issue dim sum bonds in Hong Kong
At least four Russian banks will issue up to 2.5 billion yuan in dim sum bonds in Hong Kong by early next year, as Western sanctions against Russia accelerate a switch by the country's lenders from US dollars to the mainland and Russian currencies.
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Core fund proposal for Hong Kong pension scheme wins wide support
A proposal by the Mandatory Provident Fund Schemes Authority to require all pension providers to establish a "core fund" as a cheap and simple investment option has received support from the majority of respondents to a consultation.
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Pimco reassures investors after CIO departure
Pacific Investment Management Co, seeking to calm investors after the surprise departure of co-founder and former chief investment officer Bill Gross, said there will be no major changes in investment strategy at the manager of the world's biggest bond fund.
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P2P lenders await new regulations from Beijing
Peer-to-peer lending operators on the mainland are well aware their industry is set for major change at the end of the year, when the CBRC is due to issue an initial set of rules with the hopes of reining in explosive growth in the informal sector.
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Sunday, September 28, 2014
Saturday, September 27, 2014
Friday, September 26, 2014
Nan Fung eyes expansion of property portfolio on mainland
Nan Fung Development will continue to look for good partners and opportunities to enlarge its property portfolio in mainland China, where the group expects a strong growth in the medium to long term, says the group’s chief executive Antony Leung.
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Mainland steel demand drops for first time in 14 years due to slowing economy
Mainland China’s steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 per cent plunge in prices of the steelmaking raw material.
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Shanghai Industrial joins Nan Fung to buy trade mart
Shanghai Industrial Urban Development Group (SIUD), a subsidiary of Shanghai Industrial Holdings, the municipal government’s listed investment arm in Hong Kong, has agreed to form a joint venture with Hong Kong’s Nan Fung Group to buy the majority owner of trade exhibitio
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Thursday, September 25, 2014
AVIC International considers non-aviation acquisition
AVIC International Holding (HK) said it is mulling a possible acquisition of some unspecified non-aviation business on the mainland from its parent AVIC International Holding Corp, after its share price surged 21.8 per cent on Thursday.
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Comac's C919 jet to complete assembly by September 2015
Assembly work on China's homegrown narrow body jet, the C919, will take another year and it should make its maiden flight by the end of 2015, Tian Min, chief financial officer of the Commercial Aircraft Corp of China (Comac) said.
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Web financing gives hope to cash-starved small firms
Internet financing portals such as Alibaba could provide Beijing with a stealthy means to create a brand new stream of credit to support the flagging mainland economy by getting capital to companies currently cut off from official bank lending channels.
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New awards signal SMEs' role in keeping Hong Kong competitive
Entrepreneurs are the life blood of Hong Kong's economy and their contribution to keeping the city globally competitive must be properly recognised, according to the sponsor of a major new awards programme organised by the South China Morning Post.
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