PRESS DIGEST -Hong Kong - March 25
HONG KONG, March 25
HONG KONG, March 25 (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
-- Occupy Central activists may block roads in Hong Kong's financial district this summer if authorities make decisions that rule out any hope for "genuine" universal suffrage. Campaign organiser Chan Kin-man said supporters became impatient since protests against a cross-strait trade pact began in Taiwan. (link.reuters.com/fuj87v)
-- Bets on yuan appreciation have long been deemed the key reason for accumulation of yuan deposits in offshore banking systems, but Hong Kong regulators say growth in yuan deposits in the city had instead been driven by the interest rate difference between yuan and Hong Kong dollar. (link.reuters.com/huj87v)
-- Sinopharm, China's largest drug distributor, plans to boost retail sales to more than 10 billion yuan ($1.62 billion) in 2016, said president Li Zhiming. Last year, the state-owned firm's drug retail sales rose 17.5 percent to 4.83 billion yuan. (link.reuters.com/kuj87v)
-- The Housing Authority will put up 85 Home Ownership Scheme flats in Tai O on Lantau Island for sale in June, all costing below HK$1 million ($128,900) each. The prices are based on a 30 percent discount to market value and reflect the remote location of the flats. (link.reuters.com/puj87v)
-- Chongqing Bank plans to boost micro loans to comprise 40 percent of its total business by 2015 from 33 percent now. (link.reuters.com/suj87v)
HONG KONG ECONOMIC JOURNAL
-- Tongda Group Holdings Ltd is seen to sell 420 million new shares at up to HK$1.19 apiece in a share placement, raising up to HK$500 million ($64.45 million), according to a term sheet.
HONG KONG ECONOMIC TIMES
-- Yanzhou Coal Mining Co Ltd had trimmed its work force by 5,400 in 2013 in a move to reduce cost and the firm is set to cut up to another 5,000 this year, according to senior management.
For Chinese newspapers, see............... ($1 = 6.1888 Chinese Yuan) ($1 = 7.7579 Hong Kong Dollars) (Reporting by Donny Kwok; Editing by Anupama Dwivedi)
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