PRESS DIGEST - Hong Kong - July 10

HONG KONG, July 10 Tue Jul 9, 2013 10:12pm EDT

HONG KONG, July 10 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Hong Kong would not be marginalised by a new free-trade zone being set up in Shanghai, said Anita Fung, chief executive of HSBC's Hong Kong office, adding that the interaction between the two cities would be positive to the overall development of the mainland. ()

-- Chow Tai Fook Jewellery Group Ltd expects gold products to account for 60 percent of group sales this year, and anticipates having positive same-store sales growth in the mainland this fiscal year, said the chain's managing director Kent Wong. ()

THE STANDARD

-- Alibaba Group is ready for an initial public offering but has yet to decide if it will be in Hong Kong or the United States, said chief executive Jonathan Lu, adding that profitable operations such as business and customer trading portals Taobao, Tmall and Alibaba.com and the cloud computing operation will be included in the listed Alibaba entity. ()

HONG KONG ECONOMIC JOURNAL

-- Integrated Digital Product Business Group, a subsidiary of FIH Mobile Ltd's parent company in Zhengzhou, Henan, is going on a large-scale recruitment, which the market believes is mainly for Apple's iPhone 6 production.

MING PAO DAILY NEWS

-- Property developer Fantasia Holdings Group said it is confident of listing its estate management unit, Colour Life Services Group, on the Hong Kong bourse this year.

APPLE DAILY

-- Sales of luxury Hong Kong homes priced at HK$12 million ($1.55 million) or more dropped to a four-year low in the first half of this year, with 1,868 transactions, according to Centaline Property Agency.

WEN WEI PO

-- Chinese property developer Sino-Ocean Land Holdings Ltd said contracted sales for the first six months totalled about 17.8 billion yuan ($2.90 billion), up 29.5 percent from a year earlier.

TA KUNG PAO

-- Evergrande Real Estate Group Ltd would invest about 30 billion yuan to develop a culture tour city in Baohe district, Anhui province, said a government official in the district.

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