mainland growth to BOOST hk lifestyle firms
The emergence of a new mainland generation with high consumer power will provide business opportunities for Hong Kong companies specialising in lifestyle consumption, a survey reveals. The Trade Development Council poll found Hong Kong brands have high status among 1,230 residents surveyed in Beijing, Shanghai, Guangzhou, Chengdu, Dalian and Wuhan. While mortgage or rent accounts for 9 per cent of respondents' income, unlike 30 per cent for Hong Kong residents, the high-income group on the mainland has more disposable income. Spending on leisure activities, including golf and drinking red wine, were the priorities. Hong Kong clothing, jewellery and accessories were the most valued by mainland consumers because of the unique style and after-sales service.
hong kong's gnp rises 10.9pc and gdp by 6.6pc
Hong Kong's gross national product saw a year-on-year increase of 10.9 per cent in the third quarter to HK$379.6 billion, the government said yesterday. In the third quarter, gross domestic product recorded a 6.6 per cent year-on-year increase with HK$379.3 billion. GNP is the total value of goods and services produced in a year by the city's residents regardless of where the economic activities are undertaken, while GDP is the value of output of goods and services within Hong Kong.
no comment on arrest, says macau's chief
Macau Chief Executive Edmund Ho Hau-wah has told president of the Legislative Assembly, Susana Chou Kei-chen, he will not make public statements or comments on the case of Ao Man-long, former secretary for transport and public works who has been arrested and charged with corruption. Mr Ho also reiterated the government would soon review the land laws and land release policy. Documents would be given to the assembly on land released by the government and public projects since the handover in 1999.
