Business Digest, September 25, 2012

BOC forecasts growth will beat official target

Bank of China predicted mainland economic growth will reach about 8 per cent this year, higher than the government's target of 7.5 per cent. BOC forecast the central bank will cut banks' reserve requirement ratios once or twice more this year but said interest rate cuts will be less likely. Kwong Man-ki

New World wins URA Sneaker Street project

New World Development won the right to develop the Urban Renewal Authority's "Sneaker Street" commercial and residential project in Mong Kok. Surveyors say the 26,673 square foot site near the Macpherson Playground is worth HK$2.5 billion to HK$3 billion. Yvonne Liu

Li & Fung expects 50pc jump in Walmart sales

Li & Fung chief executive Bruce Rockowitz said yesterday sales to Walmart Stores would grow 50 per cent in the second half from the first, because the world's biggest retailer sought more categories of products from the Hong Kong-based supplier. Ray Chan

Purchases of green PCs to be subsidised

Beijing will provide subsidies to buyers of some desktop personal computers as part of a larger government programme backing sales of energy-saving products. The central government will give 260 yuan (HK$319) for each purchase of a computer that meets energy-saving and efficiency benchmarks, the Ministry of Finance said on its website. The programme, which starts on October 1, will last for a year. Bloomberg