China drafted into global tax battle

G20 finance chiefs begin discussions in Moscow yesterday, with strategies against tax evasion high on the agenda. Photo: EPA

The mainland will take part in a multilateral action plan to fight tax evasion devised by the G20 and the Organisation for Economic Co-operation and Development (OECD), which is expected to have a significant impact on the mainland and Hong Kong.

Saturday, 20 July, 2013, 5:17am

An overly rosy glow?

The OECD says that between 1982 and 2011, China grew more than 9 per cent a year. Photo: Bloomberg

When the Organisation for Economic Co-operation and Development (OECD, the club of rich economic nations) produces a major economic report, the rest of the world usually listens with great respect.

27 Mar 2013 - 5:45am

OECD predicts 8.5pc growth in China this year

Secretary-General of the OECD Angel Gurria

The Organisation for Economic Co-operation and Development said yesterday that it expected growth on the mainland would reach 8.5 per cent this year and 8.9 per cent in 2014, though it urged Beijing to launch reforms in financial and land systems for a more sustainable and greener economy.

23 Mar 2013 - 5:12am

Making money count

Foreign currency tops the list as the favourite way local students would invest their money, according to a survey on secondary school students' attitudes and knowledge of financial management.

Citi Youth Investment Education surveyed 8,500 students in more than 200 schools.

18 Jul 2012 - 12:00am

Flaws in new SFC rules on financing

The Securities and Futures Commission (SFC) is set to enact new guidelines to counter money laundering and terrorist financing on April 1, but analysts say significant loopholes have yet to be plugged.

'Hong Kong is one of the easiest places to do business in the world and move money around,' said Chris Leahy, co-founder of Asian strategic advisory firm Blackpeak Group.

31 Jan 2012 - 12:00am

Time well spent

Anika is only four, but she has already grasped the concepts of saving for a rainy day and charity. She has told her mother Susanna Tsoi Lin-yung that the HK$2 and HK$5 coins she regularly drops into her piggy bank will one day pay for things for her mother - or help someone in need.

25 Sep 2011 - 12:00am

Many parents failing to think ahead on college fees

Saving from child's birth costs just HK$2,433 a month

A third of parents start making financial plans for their children's education only a year before they start college, an HSBC survey reveals.

16 Aug 2006 - 12:00am

Japan lags in fight against money-laundering

Inadequate staff and legal loopholes prevent the authorities from stamping out the scourge of modern banking

Recent headlines in Japan may have attracted the attention of anyone looking to launder ill-gotten gains, but whether they serve as a wake-up call to the agencies charged with enhancing Japan's defences against the cunning of the criminals remains to be seen.

11 May 2006 - 12:00am

Teenagers pick gambling over investing

What do you do with your pocket money? A recent survey has found that Hong Kong teenagers are more likely to gamble with their savings than invest them.

Last month, Citibank and ET Business College commissioned the Institute of Asia Pacific Studies at the Chinese University of Hong Kong to conduct a survey of teenagers' views on financial management and gambling.

10 Apr 2006 - 12:00am

Rush to complete money laundering, anti-terror laws

Beijing is speeding up the introduction of legislation designed to combat money laundering and the financing of terrorism, People's Bank of China vice-governor Xiang Junbo said yesterday.

23 Sep 2005 - 12:00am

OECD throws book on governance at mainland lenders

Ordinary investors wondering whether to buy shares in either the Bank of China or China Construction Bank when they float their stock on the Hong Kong market over the coming months might want to take a look at the Governance in China report published by the Organisation for Economic Co-operation and Development. It makes uncomfortable reading.

10 Sep 2005 - 12:00am

Mind the spending gap

The average total tax revenue of OECD countries was 36.9 per cent of GDP, more than double the average figure of 17 per cent for Hong Kong between 1990-91 and 2002-03.

22 Mar 2005 - 12:00am

China cracks down on dirty money

Mainland moves against laundering of illicit cash in bid to join global task force

China hopes to be accepted as a member of the Financial Action Task Force (FATF) by the summer, according to People's Bank of China deputy governor Li Ruogu.

17 Feb 2005 - 12:00am

China FATF bid to heat up war on dirty money

A bid by China to become a member of the global anti-money laundering body, the Financial Action Task Force (FATF), is likely to trigger a potent clampdown on illicit capital flows, observers warn.

The mainland is also currently drafting a new anti-money laundering law, a prerequisite for FATF membership, with stringent enforcement likely to be a key issue.

10 Jan 2005 - 12:00am

China FATF bid to heat up war on dirty money

Focus on enforcement puts mainland under pressure to crack down on laundering

A bid by China to become a member of the global anti-money laundering body, the Financial Action Task Force (FATF), is likely to trigger a potent clampdown on illicit capital flows, observers warn.

10 Jan 2005 - 12:00am