15 July 2018


Hong Kong Economic Journal
  • Francis Leung Pak-to said Hong Kong may lose its status as a premier stock market if it fails to change with the times. Photo: HKEJ

    Finance veteran backs HKEx proposal on weighted voting rights

    - Jul 2, 2015 10:25am
    Financial guru Francis Leung Pak-to threw his support behind the stock exchange’s proposal to allow a weighted voting rights structure for listed companies, saying Hong Kong may lose its status as a premier stock market if it...
  • BOCHK Asset Management is seeking to sell two funds in the mainland under a new program, says the firm's chief executive Au King-lun. Photo: HKEJ

    Asset management firms line up for mutual fund recognition

    - Jul 2, 2015 9:55am
    Several asset management firms are preparing to lodge applications for planned fund sales in the mainland as a mutual fund recognition scheme between Hong Kong and China gets underway. BOCHK Asset Management, Schroder Investment Management (Hong Kong) and...
  • Jeremy Lin shares some lessons he learned from his career in a speech at the Chinese University of Hong Kong. Photo: HKEJ

    NBA star Jeremy Lin tells HK youth: Treasure what we have

    - Jun 30, 2015 9:26am
    It is natural for people to have ups and downs.  Jeremy Lin, an American basketball player and Christian, urges Hong Kong youth to “always treasure what we have, instead of what we don’t have”. In a...
  • RUSAL chief executive Vladislav Soloviev says China is encouraging its aluminum producers to switch to value-added exports. Photo: HKEJ

    RUSAL expects China to keep export tariff on raw aluminum

    - Jun 29, 2015 12:14pm
    China is unlikely to relax its tariff policy on the export of raw aluminum, according to United Company RUSAL Plc (00486.HK).  RUSAL chief executive Vladislav Soloviev said China wants to discourage the export of raw aluminum but has...
  • John Tsang will be exploring how Hong Kong can play a role in the 'one belt, one road' projects. Photo: HKEJ

    Cuts in interest rates, RRR will support Chinese economy: Tsang

    - Jun 29, 2015 12:00pm
    The People’s Bank of China’s cutting of interest rates and banks’ reserve requirement ratios on the weekend can help improve the Chinese economy, Financial Secretary John Tsang Chun-wah said. The two-prong move is aimed at combating the adverse effects that the country is...
  • It is easy enough for a shell company to list on GEM, says Eugene Ha, but Pamela Chung warns that a prevalence of such firms could make quality companies hesitant to list in Hong Kong. Photo: HKEJ

    Trade in shell companies boosts listing activity on GEM board

    - Jun 29, 2015 10:57am
    Robust demand and good valuations for shell companies have driven initial public offering activity on the Growth Enterprise Market, the Hong Kong Economic Journal reported Monday, citing market veterans.  However, this could develop into a potential threat to the reputation of...
  • Jetstar Hong Kong chief executive Edward Lau (left), with chairman Pansy Ho, voiced disappointment with the authority's decision. Photo: HKEJ

    Hong Kong rejects Jetstar application for local license

    - Jun 26, 2015 11:30am
    Hong Kong has rejected an application by Jetstar Hong Kong Ltd. for a license that would allow it to become a local airline. In its decision, the Air Transport Licensing Authority said the budget carrier does not comply...
  • Tsui Wah chairman Lee Yuen-hong (center) says a price increase is necessary to enable the restaurant chain to maintain food quality. Photo: HKEJ

    Tsui Wah seeks expansion despite rising rental costs

    - Jun 26, 2015 10:48am
    Hong Kong restaurant chain Tsui Wah Holdings Ltd. (01314.HK) is planning to expand to achieve economies of scale despite mounting rental costs. The group will speed up plans to open new restaurants in the next two...
  • Hong Kong's retailers have seen their earnings growth get dented due to weaker spending by mainland tourists. Photo: HKEJ

    Sa Sa, Luk Fook, King Fook hit by weaker tourist spending

    - Jun 26, 2015 9:27am
    Sa Sa International Holdings (00178.HK), Luk Fook Holdings International (00590.HK) and King Fook Holdings (00280.HK) are shutting underperforming stores as the retailers have suffered from weaker tourist consumption in Hong Kong. Sa Sa and Luk Fook, which had...
  • Sally Wong says the authorities will increase the quota for the fund mutual recognition program if necessary. Photo: HKEJ

    Less than 6-month wait seen for funds seeking mutual recognition

    - Jun 25, 2015 2:14pm
    Sally Wong Chi-ming, chief executive of the Hong Kong Investment Fund Association, expects funds registered in the city to have to wait less than six months for approval under the upcoming mutual recognition of funds program. The Hong Kong Economic...
  • Hui Ka-yan (left) is retaking control of his football club from joint ownership with Jack Ma (right). Photo:

    Mainland property tycoon regains command of Evergrande Taobao FC

    - Jun 25, 2015 10:43am
    Mainland property tycoon Hui Ka-yan has taken control of Guangzhou Evergrande Taobao Football Club after pumping 400 million yuan (US$64.42 million) cash into the Chinese Super League mainstay.  Hui, chairman of Evergrande Real Estate Group Ltd. (03333.HK), boosted his stake to...
  • Hong Kong is expected to attract many more new listings this year, becoming the top IPO fundraising venue. Photo: HKEJ

    HK may grab No.1 spot in IPO fundraising this year: Deloitte

    - Jun 25, 2015 10:07am
    Hong Kong may lead the world this year in funds raised from initial public offerings, according to Deloitte Touche Tohmatsu. The global accountancy and consulting firm estimates that up to HK$280 billion could be raised in IPOs in...
  • Cafe de Coral chief executive Lo Hoi-kwong (right) says the company will cut working hours for frontline workers by 30 minutes to 11 hours. Photo: HKEJ

    Cafe de Coral eyes automation, outsourcing amid staff shortage

    - Jun 24, 2015 10:47am
    Cafe de Coral Holdings Ltd. (00341.HK) is planning to automate take-away orders and outsource dish washing to reduce the workload on frontline staff. Hong Kong’s largest Chinese fast food restaurant group will cut working hours for frontline...
  • Huishan Dairy's chairman and CEO Yang Kai (L) raises a toast with Hong Kong tycoon Cheng Yu-tung at the Chinese firm's listing ceremony in 2013. Photo: HKEJ

    Huishan Dairy says Cheng Yu-tung cashed out upon CEO request

    - Jun 24, 2015 10:33am
    China Huishan Dairy Holdings Co. (06863.HK) has sought to put speculation at rest over the sale of stake in the company by Hong Kong billionaire Cheng Yu-tung. Cheng offloaded shares to Huishan Dairy’s chairman and chief...
  • Renminbi is tight in Hong Kong amid surging northbound capital outflow. The interbank rate for the Chinese currency hit a two-month high on Tuesday. Photo: CNSA

    Offshore yuan interbank rate surges amid tight liquidity

    - Jun 24, 2015 10:22am
    Tight liquidity has driven the Hong Kong interbank offered rate for offshore renminbi (CNH) to a two-month high, with money surging northbound through Shanghai-Hong Kong Stock Connect. On Tuesday, the rate was 4.7080 thanks to 7...
  • 361 Degrees president Ding Wuhao says the company will incorporate internet-linked functions into its shoes for children with the help of Baidu. Photo: HKEJ

    Sportswear makers partner with tech firms on smart gear

    - Jun 23, 2015 10:43am
    361 Degrees International Ltd. (01361.HK) and XTEP International Holdings Ltd. (01368.HK) are separately allying with technology firms to launch smart sports gear, the Hong Kong Economic Journal reported Tuesday. Leading sports apparel maker 361 Degrees is partnering with LeTV...
  • Skyworth chief executive Yang Dongwen is blaming cut-throat competition among TV makers for declining margins. Photo: HKEJ

    Skyworth eyes 80% sales growth for internet TV flagship Kukai

    - Jun 23, 2015 10:26am
    Skyworth Digital Holdings Ltd. (00751.HK) is seeking 80 percent sales growth for its internet television brand Kukai, muscling in on rivals LeTV and Xiaomi Technology Inc. The growth target works out to one million units of Skyworth’s...
  • HKEx will play a key part in helping Hong Kong become China's premier offshore wealth management center, says Charles Li. Photo: HKEJ

    HKEx to help foster robust offshore RMB ecosystem: Charles Li

    - Jun 23, 2015 10:20am
    Hong Kong Exchanges and Clearing Ltd. (HKEx, 00388.HK) aims to build a robust and sustainable offshore renminbi ecosystem as part of efforts to develop Hong Kong into China’s premier offshore wealth management center. The foremost task is to...
  • Derek Lai (right) listed five forms of mixed ownership SOEs can choose from. Photo: HKEJ

    More SOEs may choose dual listing amid ownership reform

    - Jun 22, 2015 10:55am
    More state-owned enterprises (SOEs) are expected to float their shares in both Hong Kong and mainland China amid their transition to mixed ownership, Deloitte Touche Tohmatsu Ltd. said. Five forms of hybrid ownership, including open restructuring of businesses, assets...
  • Hong Kong's trading link with the Shenzhen Stock Exchange could be launched as soon as September. Photo: HKEJ

    Shenzhen-Hong Kong stock link eyed in September

    - Jun 22, 2015 10:06am
    The long-awaited Shenzhen-Hong Kong Stock Connect will debut in September, likely on Sept. 14 or Sept. 21, the Hong Kong Economic Journal reported Monday, citing sources. Eligible stocks for the northbound link will include blue chips with a market...

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