Press Digest: Hong Kong - Oct 26

Viva Goods

26/10/2015 02:01

Oct 26 (Reuters) - These are some of the leading stories in 
Hong Kong newspapers on Monday. Reuters has not verified these 
stories and does not vouch for their accuracy.   
         
    SOUTH CHINA MORNING POST  
    - Financial Secretary John Tsang warned in his latest blog 
that "soaring" wages for low-skilled jobs need to be monitored 
because they are making it difficult for small business owners. 
Tsang said workers such as dish washers might be making a better 
living these days, earning up to HK$12,000 ($1,548) a month, but 
that was putting pressure on their employers running small to 
medium-sized enterprises. (http://bit.ly/206x2xo) 
    - University of Hong Kong alumni warn they will "take 
whatever action needed" to stop Professor Arthur Li Kwok-cheung 
becoming head of its governing body. The HKU Alumni Concern 
Group, headed by pan-democrat lawmaker Ip Kin-yuen, claims Li 
has a bad track record for respecting the autonomy of 
universities. (http://bit.ly/1NuP5GC) 
    - Chinese authorities are stepping up a crackdown on 
dirt-cheap tours, vowing to punish tourists who knowingly sign 
"fake contracts" with travel agencies for discount holidays. The 
National Tourism Administration said in an online notice that 
mainland tourists may be held legally liable. (http://bit.ly/1Xsu83S) 
     
    THE STANDARD 
    - Secretary for Development Paul Chan Mo-po says developing 
a vacant space in an urban area without considering its 
environment could be like reaching out in the dark. Chan's 
remark came amid a clamour for the government to consider using 
a few thousand hectares of vacant sites for housing as the 
search continues for land. (http://bit.ly/1GBJmPB) 
    - The performance of Hong Kong's Exchange Fund in the first 
three quarters, which will be announced early next month, can 
hardly be encouraging, warns Eddie Yue Wai-man, deputy chief 
executive of Hong Kong Monetary Authority. He said expectations 
of an U.S. interest rate hike, worries over the mainland 
slowdown and financial market turmoil had created a tough 
investment climate. (http://bit.ly/1PMRz6v) 
    - China Zhongwang Holdings  1333.HK , the world's 
second-largest industrial aluminum extrusion producer, expects 
output at a new Tianjin plant to top current capacity to meet 
domestic demand. Phase one of the aluminum flat-rolled product 
project in Tianjin has a designed annual capacity of 1.8 million 
tonnes and actual capacity of 1.2 million tonnes. (http://bit.ly/1S550gp) 
             
    HONG KONG ECONOMIC JOURNAL  
    - Li Ning Co Ltd  2331.HK  said it would sell a 10 percent 
stake in Double Happiness brand to its substantial shareholder 
Viva China Holdings  8032.HK  for 125 million yuan ($19.67 
million). The proceed will be used to fund development of Li 
Ning brand products, the company said. 
   - Beijing Enterprises Medical and Health Industry Group Ltd 
 2389.HK  said it would jointly set up a private equity fund 
with Jangho Group and Beijing Shunyi Technology Innovation with 
registered capital of 51 million yuan ($8 million), investing in 
medical and health industry, biotechnology, energy conservation 
and environmental protection. 
 
    For Chinese newspapers, see............... PRESS/CN  
  
($1 = 6.3550 Chinese yuan) 
($1 = 7.7499 Hong Kong dollar) 
 
 (Compiled by Donny Kwok in Hong Kong; Editing by Anand Basu) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: PRESS DIGEST HONGKONG/