Hong Kong

Tsang said downgrade of US debt rating by itself would not spark crisis but by other economic factors.

RMB5 billion in five-year bonds, RMB3 billion in seven-year bonds and RMB1 billion in 10-year bonds will be made available for institutional investors.

Sufficiency of funds in Hong Kong banks maintains normal operation of the stock market and banking system in Hong Kong.

The cut is for yuan deposits without tenure.

The company aims to have its listing hearing by end August.

The Chinese phone maker has a sales target of 50 million handsets this year.

The department store operator foresees the Hong Kong retail market to outperform that of the mainland.

Hong Kong shares dropped to their lowest since July 2010 following the downgrade of US’ credit rating.

The total foreign currency reserve assets at the end of the month amounted to US$279bn.

Recorded turnover reached RMB105.6mn, 134.1% higher while profit attributable to owners of the Company amounted to RMB58.5mn.

Yeung previously managed the operations of both Dragonair and Cathay Pacific in China.

Accounts for 20% of total new orders of Chinese shipbuilders in 1H 2011 amid 42.5% slide in global new orders.

The Water Supplies Department is currently interviewing 1,000 households for the Domestic Water Consumption Study to ascertain how water is being consumed in Hong Kong households.

The Hong Kong government invited applications for funding support for research and development projects under the 2011 Guangdong-Hong Kong Technology Co-operation Funding Scheme.   There are 23 technology areas under the first category, for which Hong Kong institutions can submit funding applications. The governments of the two sides will also jointly provide funding support for projects in 10 technology areas under the third category. The technology areas supported under the scheme are relevant to the needs of industry and will enhance economic development in the Greater Pearl River Delta region. The Commission is also inviting proposals for forward-looking and innovative applied R&D projects under Tier 3 of the Innovation and Technology Support Programme of the ITF.

The meetings were supposed to promote its planned Hong Kong share offering.

Its Ministry of Finance will start selling to retail investors on 18 August.