Mandatory Provident Fund (MPF)

Business Digest, November 6, 2012

PUBLISHED : Tuesday, 06 November, 2012, 12:00am
UPDATED : Tuesday, 06 November, 2012, 4:24am

Funds under MPF return 0.67pc in Oct

The 453 investment funds under the Mandatory Provident Fund returned an average of 0.67 per cent last month, according to data provider Lipper. That is slower than September's 3.09 per cent and the July-September quarter's 4.66 per cent return. The stock funds were the best performers, returning an average of 1.23 per cent. Enoch Yiu

Beijing to subsidise shale gas developers

China will offer subsidies to shale gas developers as the government looks to replicate the production boom seen in the United States. The government will offer 0.40 yuan (49 HK cents) for each cubic metre of shale gas produced, the Ministry of Finance said yesterday, twice the subsidy offered to coal-bed methane. Reuters

China brings WTO case on EU solar subsidies

China lodged a complaint with the World Trade Organisation yesterday to challenge the European Union's support for its solar power components industry. The Ministry of Commerce said some EU countries' laws provided subsidies for solar power generation if components were produced in Europe. Reuters

Two residential sites to go for tender

Two residential sites in Sha Tin and Sai Kung will be up for tender from November 30. The 8,590 sq m Sha Tin site can generate up to 13,228 sq m of residential space while the 15,430 sq m Sai Kung site is stipulated to yield no less than 240 units. Charlotte So