20 August 2018


Hong Kong Economic Journal
  • Zhong Zhirong, the largest shareholder and former chairman of Glorious Property, has offered to privatize the company. Photo: HKEJ

    Sinochem unit seeks Glorious Property liquidation

    - Jul 22, 2015 10:57am
    China Foreign Economy and Trade Trust Co. Ltd., a subsidiary of Sinochem Group, has filed a lawsuit for the liquidation of Shanghai-based real estate developer Glorious Property Holdings Ltd. (00845.HK). The plaintiff filed the application with the High...
  • Hong Kong had 594 registered funds at the end of March, up from 469 in the same period last year. Ninety-one funds were approved in the five months to May. Photo: HKEJ

    Hong Kong fund assets surge to three-year high

    - Jul 22, 2015 10:53am
    Assets controlled by Hong Kong fund managers rose to a three-year high of HK$17.68 trillion (US$2.28 trillion) at the end of 2014. The figure is up 10.5 percent from a year earlier, according to the Hong Kong...
  • BOC Hong Kong's Gary Leung predicts fewer iBond investors will be willing to cash out this year. Photo: HKEJ

    Tame inflation likely to suppress iBond5 gains

    - Jul 22, 2015 10:30am
    The fifth batch of the government’s inflation-linked bonds, better known as iBond5 (04228.HK), is likely to see a weaker price growth than the previous edition because of Hong Kong’s tame inflation, estimated at only 3 percent...
  • Peter Wong says Hong Kong must enhance its competitive advantages in renminbi-related businesses. Photo: HKEJ

    HK told to boost RMB business to avoid marginalization

    - Jul 21, 2015 11:31am
    Hong Kong must step up its efforts in strengthening its advantages in the renminbi business to avoid being marginalized, Hongkong and Shanghai Banking Corp. Ltd. deputy chairman and chief executive Peter Wong said. The territory has to seek...
  • China is expected to keep the renminbi exchange rate stable as it pushes its inclusion in the SDR basket. Photo: Bloomberg

    Lenders see slightly weaker renminbi this year

    - Jul 21, 2015 10:37am
    Bankers are expecting the renminbi exchange rate to weaken slightly this year, according to a survey. Estimates put it at 6.2445 to US$1, down 0.62 percent from last year, a Hong Kong Economic Journal poll of 11...
  • The top leadership will report to chief executive Bill Winters (above) under the sweeping revamp. Photo: Bloomberg

    Standard Chartered halves business regions in steep cost-cutting

    - Jul 21, 2015 10:08am
    Standard Chartered Plc. (02888.HK) is consolidating its eight business regions into four to cut costs by US$1.8 billion by 2017. The top leadership, comprised of 13 senior executives, will directly report to Bill Winters, the bank’s new...
  • Yue Yi says all but four of 40 major capital account items have been opened up fully or partially, indicating a freely convertible Chinese currency is not far off. Photo: HKEJ

    Renminbi will be major world currency in two years, says BOCHK

    - Jul 20, 2015 10:32am
    China is expected to introduce further cross-border measures to ramp up the liberalization of the capital account and the renminbi exchange rate, according to a senior bank executive. Yue Yi, vice chairman and chief executive of...
  • China will continue to reform its exchange rate regime after significant achievements in the past decade, says Joseph Yam. Photo: HKEJ

    RMB reform to continue despite stock market volatility: Yam

    - Jul 20, 2015 10:28am
    China will continue its currency exchange rate reform, with the moves likely to be more closely aligned to market forces, according to Joseph Yam Chi-kong, former chief executive of the Hong Kong Monetary Authority. Many capital account...
  • Macau Legend, led by chairman and chief executive David Chow Kam-fai, said it will post a loss for the first half of the year. Photo: HKEJ

    Macau Legend to invest in US$200 mln Cape Verde gaming complex

    - Jul 20, 2015 10:28am
    Macau Legend Development Ltd. (01680.HK) is reportedly building an integrated resort on Cape Verde islands, an archipelagic nation off the northwest coast of Africa. The gaming and entertainment complex, which is expected to need US$200 million...
  • Albert Kan is denying claims China LNG Group fraudulently obtained contracts from the Chinese government and is incapable of generating decent revenue. Photo: HKEJ

    China LNG Group lashes back at fraud claim by short-seller

    - Jul 17, 2015 1:14pm
    China LNG Group Ltd. (00931.HK) is pushing back against accusations by a short-seller that it is engaged in fraud. Chairman Billy Albert Kan called the claims by Glaucus Research “illegitimate”, according to the Hong Kong Economic...
  • Shen Minggao says Beijing's intervention in the stock market has shaken the confidence of foreign investors but it is unlikely to dampen an ongoing financial reform. Photo: HKEJ

    No sign foreign investors are heading for the exits, says banker

    - Jul 17, 2015 11:46am
    Foreign investors are not cashing out of the Chinese stock market despite concerns over Beijing’s intervention, according to an economist. On the contrary, the proportion of A shares held by foreigners is expected to increase in...
  • China is likely to take a fresh look at OTC funding systems following the recent stock market crash, says Charles Li. Photo: HKEJ

    HKEx chief expects China to regulate over-the-counter funding

    - Jul 17, 2015 10:40am
    Hong Kong’s stock exchange chief expects China to take some steps to regulate over-the-counter funding systems in the mainland following the recent troubles in the nation’s stock markets. Charles Li, chief executive of Hong Kong Exchanges and...
  • MTR Corp CEO Lincoln Leong has testified before a Legco panel that is looking into the problems related to a cross-border high-speed rail link. Photo: HKEJ

    MTR chief responds to questions over high-speed link delay

    - Jul 16, 2015 11:47am
    Construction delays and cost overruns on the Hong Kong link of a national high-speed railway project do not mean that MTR Corporation (00066.HK) has failed to act diligently on the venture, the local rail operator’s chief executive said...
  • Wan Li was a close ally of Zhao Ziyang but switched sides to Deng Xiaoping after being intercepted in Shanghai by Jiang Zemin. Photo:

    Economic reformer Wan Li backed Deng during Tiananmen protests

    - Jul 16, 2015 11:46am
    Wan Li, a Chinese politician known for his economic reforms, publicly chose the side of the hardliners in the 1989 Tiananmen Square crackdown. Wan died Wednesday at the age of 98 in Beijing. He was a...
  • Kerry Logistics plans to turn some of its general warehouses into cold storage facilities. Photo: HKEJ

    Kerry Logistics bets on cold storage amid slowing retail market

    - Jul 16, 2015 11:00am
    Slowing retail sales, especially in the luxury sector, are having a negative impact on one of Hong Kong’s top logistics providers. Kerry Logistics Network Ltd. (00636.HK) said it is shifting to the mass market as some of...
  • BOC Hong Kong is seeking premium valuation for Nanyang Commercial Bank as it offloads the unit. Photo: HKEJ

    BOC Hong Kong seeks to sell Nanyang Bank for minimum HK$68 bln

    - Jul 16, 2015 10:26am
    BOC Hong Kong (Holdings) (02388.HK) is seeking to sell its unit Nanyang Commercial Bank for a minimum of HK$68 billion through the Beijing Financial Assets Exchange, the Hong Kong Economic Journal reported. The minimum price represents a...
  • BCT managing director and CEO Lau Ka-shi (L) and investment director Michael Ha share their views on the prospects of China's A-share markets. Photo: HKEJ

    Shanghai index to recover but unlikely to regain 5,100 soon: BCT

    - Jul 15, 2015 10:51am
    The Shanghai Composite Index could bounce back and reach the 4,500-points level this year on the back of corporate earnings and the Chinese government’s “one belt, one road” initiatives, according to an executive at one of Hong Kong’s...
  • The owner of a flat in Cheerful Garden in Siu Sai Wan went bankrupt last year after entering loan agreements that did not comply with regulations. Photo:

    More home foreclosure auctions predicted

    - Jul 15, 2015 10:17am
    A rise in sales of foreclosed homes in subsidized housing estates is likely, the Hong Kong Economic Journal reported Wednesday. Some speculators illegally pledged their residential properties, without paying the land premium to the Housing Authority, for mortgages to...
  • Nathan Lin says the fund managers will have flexibility to decide on the stocks in which they invest. Photo: HKEJ

    Firm plans to launch two pure A-share funds in Hong Kong

    - Jul 15, 2015 10:16am
    GF International Investment Management Ltd. chief executive Nathan Lin said his firm plans to launch two pure A-share funds in Hong Kong under the mutual recognition scheme despite a slump in the mainland stock market. The wholly owned subsidiary...
  • Cheung Kai-cheong says recent one-way measures that only favor the upside have shaken investor confidence. Photo: RTHK

    Analysts warn of state-driven bubble in ‘twisted’ market

    - Jul 14, 2015 10:13am
    Foreign investors may take a year to regain confidence in Chinese stocks after government intervention to stop a rout twisted market fundamentals. Recent one-way measures by the government that only favor the upside have shaken investor...

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