PRESS DIGEST-Hong Kong - Sept 4
HONG KONG, Sept 4
HONG KONG, Sept 4 (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
-- The Long-Term Housing Strategy Steering Committee, chaired by Secretary for Transport and Housing, Anthony Cheung, proposed to build 470,000 flats in the next 10 years, 60 percent of them public rental and subsidized flats, to address the housing shortage, but with warnings that meeting the targets depended on finding suitable land and resolving community conflicts. ()
-- Sinopec Shanghai Petrochemical Co Ltd, one of China's top five refiners, is considering investing as much as 20 billion yuan ($3.27 billion) on a one million tonne paraxylene project that could reduce the country's reliance on imports of the raw material for making polyester. ()
HONG KONG ECONOMIC JOURNAL
-- China Gas Holdings Ltd co-chairman and managing director Liu Minghui said PetroChina Co Ltd are merely their business partners, the anti-corruption investigation would not affect China Gas' business.
-- Hong Kong's home market turned dismal in August as transactions plunged to a nine-month low with only 3,407 new and old units changing hands. ()
-- Tenwow International Holdings Ltd, a mainland maker of packaged food and beverage products, is seeking to raise as much as HK$1.58 billion ($203.74 million) through an initial public offering in Hong Kong. The retail book for the float opens on Sept. 5.
WEN WEI PO
-- China's new economic zone Qianhai plans to put out six pieces of land for large financial institutions, according to sources. The region is also considering putting another four plots up for auction, which aims to attract Hong Kong enterprises.
-- China Railway Group is confident of meeting its target this year for new contracts worth 650 billion yuan, said group president Bai Zhongren, adding that he expects the debt ratio to drop in the second half.
TA KUNG PAO
-- TCL Multimedia Technology Holdings Ltd said it will start selling smart TVs with Baidu Inc. TCL's chairman Li Dongsheng said it expects sales target of related products to reach 1 million units.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.