PRESS DIGEST -Hong Kong - Sept 9
HONG KONG, Sept 9
HONG KONG, Sept 9 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Bank of America Merrill Lynch, the global banking and markets arm of Bank of America, is looking to build up its suite of mainland trade and supply chain finance products. (link.reuters.com/zuv82v)
-- Eric Fok, the third-generation Fok scion and vice-president of Fok Ying Tung Group, said it has lined up more investments in Nansha, one of three new pilot economic zones in Guangdong province. (link.reuters.com/byv82v)
-- Up to 300 billion yuan in asset-backed securities will be issued by mainland banks in the near future, bankers said, as the central government encourages lenders to finance new projects with funds from sales of loan-backed securities. (link.reuters.com/dyv82v)
HONG KONG ECONOMIC JOURNAL
-- China top footwear retailer Belle International Holdings Ltd said it will acquire a mainland leather products retailer for 700 million yuan in a bid to expand its network.
HONG KONG ECONOMIC TIMES
-- Chinese dairy company Liaoning Huishan Dairy Group will kick off its roadshow for its initial public offering in Hong Kong on Tuesday, sources said. It has also confirmed three cornerstone investors.
-- New World Development Co Ltd sold 100 flats at its new residential project in Yuen Long, offering a 3 percent discount and an additional 7 percent reduction to buyers who can start paying their mortgage immediately. The developer has cashed in around HK$1.67 billion ($215.31 million) since launching the scheme at the start of this month. (link.reuters.com/fyv82v)
WEN WEI PO
-- Powerlong Real Estate Holdings Ltd's subsidiary has acquired land for building a hotel in Xiamen, Fujian province, for 68.5 million yuan.
For Chinese newspapers, see............... ($1 = 6.1205 Chinese yuan) ($1 = 7.7562 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Sunil Nair)
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