Business Digest, September 25, 2012

Bank of China predicted mainland economic growth will reach about 8 per cent this year, higher than the government's target of 7.5 per cent. BOC forecast the central bank will cut banks' reserve requirement ratios once or twice more this year but said interest rate cuts will be less likely. Kwong Man-ki

New World Development won the right to develop the Urban Renewal Authority's "Sneaker Street" commercial and residential project in Mong Kok. Surveyors say the 26,673 square foot site near the Macpherson Playground is worth HK$2.5 billion to HK$3 billion. Yvonne Liu