Other Briefings
Hong Kong Nightlife Hub to Expand to Chengdu
Sept. 15 – Hong Kong’s famous nightlife hub, Lan Kwai Fong, is set to expand to Chengdu by March 2010. The Hong Kong-based billionaire property developer, Allan Zeman, has announced plans to open another version of his Lan Kwai Fong branded leisure area in Chengdu. Lan Kwai Fong is a popular destination in Hong Kong […]
China to Gradually Reduce Equity Limits for Stock Listing
Sept. 9 – Limits on corporate equity stake proportion in investment will gradually be reduced to allow more foreign-invested enterprises to list in the country’s stock market, reports China Daily. China’s Minister of Commerce, Chen Deming, spoke with China Daily during the 13th China International Fair for Investment and Trade held in Xiamen. He said […]
New Bank Department To Handle RMB Global Development
Sept. 8 – China’s central bank, the People’s Bank of China (PBOC), will establish a Second Monetary Policy Unit to deal with a wide range of commercial issues concerning the use of the renminbi in international trade, investment, swaps and foreign aid. The unit is will be led by current PBOC Vice-Governor, Hu Xiaolian. The […]
Eurocham Paper Critical of China’s Protectionist Measures
Sept. 4 – The European Chamber of Commerce in China (EUCCC) has released their yearly position paper, this time taking a fairly critical stance on China’s progress on World Trade Organization reforms, citing the raising of trade barriers and the squeezing out foreign competitors from domestic markets. The paper detailed several areas of concern: Market […]
Customs Department Clarifies Outsourced Processing Trade Procedures
Sept. 1 – China’s General Administration of Customs has issued a circular clarifying the administration procedures for trade companies outsourcing their processing businesses and relevant H2000 administrative systems. Circular 51 confirms that processing trade companies with limited production capacity and technical capabilities can outsource their processing operations; pending approval of the local customs office. The […]
Hong Kong Proposes Acceptance of Mainland Auditors
Aug. 31 – The Hong Kong Stock Exchange has proposed allowing mainland companies listed in Hong Kong to submit their accounts using mainland China’s accounting standards and auditors. Currently, Hong Kong uses a different set of accounting standards from the mainland. If the proposal pushes through, it may be possible that Hong Kong companies listing […]
Hong Kong to Host Louis Vuitton America’s Cup World Series
Aug. 27 – The Royal Hong Kong Yacht Club has asked the Hong Kong government for a grant to help it host the Louis Vuitton World Series, an America’s cup standard yachting competition that is the sport’s equivalent to the Formula One. If approved, the event will be held on November 2010 with the regatta […]
Air China Deal a Learning Step for Mainland Aviation
By Chris Devonshire-Ellis Aug. 20 – The deal of the week has been Air China buying an additional 12.5 percent stake in Cathay Pacific held by CITIC Pacific and bringing its total stake in the Hong Kong-based airline to 29.9 percent. Cathay Pacific is the city’s leading airline and also owns a majority stake in […]
