PRESS DIGEST - Hong Kong - April 7

HONG KONG, April 7 Sun Apr 6, 2014 9:55pm EDT

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HONG KONG, April 7 (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

-- Mainland academics have suggested that Hong Kong temporarily implement the nation's security laws until it legislates its own version. Legislative Council president Jasper Tsang was "shocked" by the proposal and said he did not believe it represented the views of the central government. (link.reuters.com/nyj38v)

-- While its online finance, e-commerce and mobile messaging initiatives are closely watched by investors, Tencent has kept its focus on making large bets in its interactive games business to bolster revenue growth. (link.reuters.com/ryj38v)

-- At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility, Standard Chartered said. (link.reuters.com/syj38v)

THE STANDARD

-- Hong Kong's development secretary Paul Chan Mo-po denied the government will slow down the pace of launching new sites despite a lackluster residential property market. (link.reuters.com/vyj38v)

-- A permanent museum dedicated to the June 4 incident in Tiananmen Square in 1989 will open on April 20 despite an attempt to block it by the building owners' corporation, its organizer said. The June Fourth Memorial Museum has been set up at Foo Hoo Centre, a commercial building in Tsim Sha Tsui. (link.reuters.com/wyj38v)

-- PetroChina was the most subsidised firm among all listed mainland enterprises in the past two years, bagging over 20 billion yuan ($3.22 billion). (link.reuters.com/bak38v)

HONG KONG ECONOMIC JOURNAL

-- Shanghai Fosun Pharmaceutical Group Co Ltd , which operates five hospitals in China, will grow through acquiring existing hospitals in lower tier cities, as it speeds up expansion of its high-end hospital service on the mainland, according to chairman Chen Qiyu.

MING PAO DAILY NEWS

-- Property valuation by banks of the city's 10 major residential developments has come down substantially in the past 12 months, of which valuation for flats in Tai Koo Shing on Hong Kong island has fallen by about 20 percent.

APPLE DAILY

-- China Huishan Dairy said it has reached an agreement with Australian Rural Exports Pty Ltd to buy 30,000 head of dairy cattle for HK$594 million ($76.6 million), which is expected to be delivered to China in separate shipments before end-March 2015.

For Chinese newspapers, see............... ($1 = 6.2123 Chinese Yuan) ($1 = 7.7568 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Sunil Nair)

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