Will Li Huidi take over as China Mobile vice-president? Will he or won't he? The internet is swirling with conflicting rumours about Li Huidi, the son of Li Changchun, the propaganda chief of the Chinese government and a member of the Politburo Standing Committee. Some unverified reports claim he will take over as the vice-president of China Mobile Communications Corp from Zhang Chunjiang, who was dismissed from this post last month after becoming involved in a corruption probe. Zhang was also dismissed as vice-chairman and executive director of the Hong Kong-listed subsidiary China Mobile last week 'due to alleged serious financial irregularities'. Li Huidi currently holds the post of assistant to the president at the parent company. However, other reports have denied that he will become vice-chairman. China Mobile declined to comment. While waiting for the truth to emerge, we present excerpts from a speech given by Li in October 2008 describing his three years pursuing a doctorate at Hong Kong Polytechnic University. 'After eight years in the United States, I returned to school to pursue my doctorate. Through three years of persistent effort, now it is the time to harvest the rewards. 'For me, a man who is close to his 40s, it is really not easy to spare the time on study undertaking the major responsibilities and great pressure from both work and life. During the class term sessions, it was usually about 2am or 3am before I finished my homework, a few times it was even at dawn.' With that kind of work ethic, we wonder what China Mobile is waiting for. I'm paid too much: RBS chief Stephen Hester (below), the chief executive of the Royal Bank of Scotland (RBS), has admitted that even his parents believe he is paid too much, but stressed that his bonus package was worthless because the bank's shares had failed to rise, according to reports in Britain. Hester also revealed that a 'handful' of highly paid bankers would avoid restrictions placed by the British government on RBS not to pay cash bonuses to employees earning more than GBP39,000 (HK$488,000) per year because of legal commitments made to them. He said his biggest single problem was recruiting people who were concerned about the criticism they might encounter if they work for RBS. If (and this is a big if) RBS is recruiting in Hong Kong and China, will it face similar perception problems? CIC ponders US railway move China Investment Corp (CIC), the country's sovereign wealth fund, is considering investing in a high-speed rail line in the US, which would be the country's first there. Last year, US President Barack Obama announced his country would develop a national high-speed rail network, and noted: 'China, where the service began just two years ago, may have more miles of high-speed rail service than any other country just five years from now. There's no reason why we can't do this.' Desert Xpress, which will be the first US commercial high-speed passenger train service when it begins operation in four years, is in talks with China's Ministry of Railways and various mainland firms about the possibility of their participation in the project. A CIC spokeswoman declined to comment. Malaysian exodus of money Malaysia, a country previously with a reputation of religious harmony, has suffered a spate of attacks on at least eight Christian churches recently, and on Tuesday a Sikh temple was stoned. Meanwhile, there has been an exodus of money from Malaysia on a scale that surpasses that which occurred during the Asian financial crisis of the late 1990s, according to a UBS report. 'Question: which Asian country had the biggest foreign exchange losses in 2009? The answer is Malaysia and by a very large margin; we estimate that official reserves fell by well more than one quarter on a valuation-adjusted basis,' said the UBS report. In contrast, other Asian countries with large current account surpluses - Thailand, the mainland, Taiwan, Singapore, and Hong Kong - have seen their reserves increase.