PRESS DIGEST - Top stories in Hong Kong and mainland China newspapers on February 17
These are the leading stories in mainland China and Hong Kong newspapers and websites on Tuesday. The South China Morning Post has not verified these stories.
Mainland taxi-calling apps Didi and Kuaidi responded to rival car-rental company Yidao’s allegation that the merger of the two apps would violate antitrust laws. The two taxi apps said they were not required to declare their market shares and that they were in communication with the authorities. The Ministry of Commerce said it was aware of the merger but had not received their application in relation to antitrust provisions. (Caixin)
Land sales in first trier cities in China, including Beijing, Shanghai, Guangzhou and Shenzhen, in the first 50 days of the year had reached 69.3 billion yuan (HK$87.3 billion), which will provide support to property prices in these cities. (Caijing)
The vice-chairman and chief executive of Hang Seng Bank, Rose Lee Wai Mun, whose three-year term as an executive director ends this May, would continue to be in charge of the bank, sources said. The bank’s board was pleased with Lee’s performance and she was also willing to serve the bank, according to the source. The board would need to confirm her fresh term, which has to be approved by a shareholders’ meeting later. The bank plans to hold a board meeting on Tuesday. (Apple Daily)
The market price of Home Ownership Scheme flats exceeded HK$10,000 per square foot for the first time. A 576 square feet three-room, sea-view flat in Aberdeen changed hands for HK$6 million. The price per square foot came to HK$10,417, making it the most expensive HOS flat in the secondary market. (Hong Kong Economic Times)
Singaporean sovereign wealth Fund Temasek sold 7.3 million American depositary receipts of Alibaba for US$487.5 billion (HK$2.8 billion), according to filings with the Securities and Exchange Commission in the United States. This is Temasek’s largest sell-off of shares in a company listed in the United States. (Sing Tao Daily)
