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  • September 2, 2014
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  1. News - Hong Kong - ECONOMY

    Hong Kong retail sales slump by 3.1pc in July as consumers scrimp on luxury

    Posted Aug 28th 2014, 05:54pm by Amy Nip

    ... with sales of cosmetics and medicine picking up 14.3 per cent year on year. Retail Management Association chairwoman Caroline Mak Sui-king said political uncertainty would rock the boat from now ...

    http://www.scmp.com/news/hong-kong/article/1581472/hong-kong-retail-sales-slump-31pc-july-consumers-scrimp-luxury
  2. News - China - ECONOMY

    Cut taxes to boost the economy, urges China's second richest man Zong Qinghou

    Posted Aug 25th 2014, 03:35pm by Kathy Gao

    ... on its administrative approval system for enterprises. Zong said the burdens on businesses today were heavier than before, according to the report. His Wahaha Group faced paying more than 400 ...

    http://www.scmp.com/news/china/article/1580537/chinas-second-richest-man-zong-qinghou-tells-government-tax-cuts-will
  3. Business - Economy - ECONOMY

    Changing tides could shift focus from China to Africa

    Posted Aug 25th 2014, 03:33am by JUNE SUN

    ... less time to adapt to its growth and demographic changes, it said, and the welfare system was therefore not as developed as it should be for a population ageing so fast- compounding fears ... care, as older people demand more services." The central government has started reforms in urbanisation, the hukou household registration system, and the one-child policy to deal ...

    http://www.scmp.com/business/economy/article/1580413/changing-tides-could-shift-focus-china-africa
  4. News - China - ECONOMY

    Top Communist Party official's inclusion on task force reflects China's economic concerns

    Posted Aug 21st 2014, 05:02am by Cary Huang

    ... and Securities Institute, said Liu's inclusion suggested the need for more cooperation and coordination in economic management among departments. Ma Guoxian, a political economist with the Shanghai ... Liu has long worked in Inner Mongolia and advanced his career through the China Youth League and the party's propaganda machine. Liu has little background in economic management ...

    http://www.scmp.com/news/china/article/1577934/top-communist-party-officials-inclusion-task-force-reflects-chinas
  5. News - Hong Kong - ECONOMY

    Beijing to consult Hong Kong on its 13th five-year plan

    Posted Aug 20th 2014, 04:14am by Denise Tsang

    ... "Under the 'one-country, two- systems' principle, the HKSAR government has commenced the groundwork to complement the drafting of the national 13th five-year plan," she said. ...

    http://www.scmp.com/news/hong-kong/article/1577268/beijing-consult-hong-kong-its-13th-five-year-plan
  6. Business - Economy - ECONOMY

    Yuan convertibility on back burner as Beijing focuses on other reforms

    Posted Aug 07th 2014, 11:58am by Reuters

    ... in November last year. Heading off a sharp slowdown in growth and domestic reforms- such as fixing the fiscal system to rein in debt, overhauling banks and state conglomerates- will be done first, ... and legal systems first," said a former central bank researcher who now works for the government. "That was the reason why other emerging markets [which removed capital controls ...

    http://www.scmp.com/business/banking-finance/article/1568188/yuan-convertibility-back-burner-beijing-focuses-other
  7. Business - Economy - ECONOMY

    Beijing's economic growth targets are too high, IMF says

    Posted Jul 31st 2014, 11:26am by Victoria Ruan

    ... inequality and environmental costs are threatening growth prospects", the IMF said. Andrew Colquhoun, head of Fitch Ratings' Asia-Pacific Sovereign Ratings, echoed the view ... creating a level playing field for the private and public sectors and revamping the fiscal and social security systems. Growth is forecast to gradually ease to 6.3 per cent by 2019, the bank said. ...

    http://www.scmp.com/business/economy/article/1563293/imf-recommends-lower-2015-gdp-growth-target-china
  8. News - Hong Kong - ECONOMY

    Hong Kong Monetary Authority chief Norman Chan adds to gloom on economy

    Posted Aug 11th 2014, 11:28pm by Patsy Moy

    ... Patsy Moy patsy.moy@scmp.com Norman Chan says higher rates in US may spur capital flight in region and hurt city HKMA chief adds to gloom on economy Hong Kong's de facto central bank chief Norman Chan Tak-lam warned that the city's financial system could come under pressure when the United States raises its interest rates- a day after Financial Secretary John Tsang ...

    http://www.scmp.com/news/hong-kong/article/1571643/hong-kong-monetary-authority-chief-norman-chan-adds-gloom-economy
  9. News - Hong Kong - ECONOMY

    John Tsang Chun-wah warns of 'perfect storm' from protests

    Posted Aug 11th 2014, 06:10am by NG KANG-CHUNG

    ... chances to international speculators". "We can't be too careful. On the one hand, we have to step up risk management; on the other hand, we should avoid creating risks ...

    http://www.scmp.com/news/hong-kong/article/1570817/john-tsang-chun-wah-warns-perfect-storm-protests
  10. Business - Economy - ECONOMY

    Property market cool-down drives HSBC China services PMI to lowest level ever

    Posted Aug 05th 2014, 10:09am by Reuters

    ... purchasing managers index compiled by HSBC/Markit fell to 50 from a 15-month high of 53.1 in June. The latest reading is the lowest since November 2005, when data collection began. The survey ...

    http://www.scmp.com/business/economy/article/1566785/property-market-cool-down-drives-hsbc-china-services-pmi-lowest

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