PRESS DIGEST - Hong Kong - April 3
HONG KONG, April 3
HONG KONG, April 3 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
- At least two global firms, including TPG capital, that had been in talks with the China's Chongqing city government to set up yuan-denominated private equity funds there have decided to put negotiations on hold due to concerns about political uncertainties in the city, people familiar with the matter said.
- Hong Kong's Financial Reporting Council is investigating several locally listed mainland firms for suspected financial irregularities. Investors are questioning the credibility of mainland firms after a number of auditing firms quit their mainland clients recently, including China Forestry.
HONG KONG ECONOMIC TIMES
- Starbucks Corp plans to have 1,500 stores in more than 70 Chinese cities by the end of 2015 and expects China to become its second-biggest retail market measured by the number of stores by 2014, said John Culver, president of Starbucks China and Asia-Pacific.
- Mainland property developer Greentown China Holdings Ltd expects gearing to ease to 100 percent this year from 149 percent at the end of last year, said chief executive Shou Bainian.
TA KUNG PAO
- Chinese property developer Kaisa Group Holdings Ltd said contract sales for the first quarter totalled 2.7 billion yuan ($429 million), up 124 percent from a year earlier.
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