PRESS DIGEST - Hong Kong - July 7

HONG KONG, July 7 Sun Jul 6, 2014 10:12pm EDT

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HONG KONG, July 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 loan guarantors have found themselves ensnared in the woes of the underground banking sector following a fresh wave of bankruptcies. (bit.ly/1j7kjIC)

-- Employee protection will be a key consideration for lawmakers deciding whether to support the introduction of U.S. style Chapter 11 bankruptcy legislation in Hong Kong, the South China Morning Post has been told. (bit.ly/1r1GY9b)

-- Beijing has announced a new regulation designed to improve the central government's tax collection from overseas mainland companies, including those controlled in Hong Kong. (bit.ly/1pTh4rk)

THE STANDARD

-- Financial Secretary John Tsang Chun-wah has voiced concern that the Legislative Council will not be able to complete vetting of the more than 50 funding requests and government bills with just a week left before the summer recess. (bit.ly/1qCiwMv)

-- The Hong Kong Journalists Association has set up a self-censorship monitoring committee, after saying press freedom is facing its darkest period in decades. (bit.ly/1qCiDHU)

HONG KONG ECONOMIC JOURNAL

-- Hong Kong Airlines is preparing to raise a combined US$500 million, which could be Hong Kong's first initial public offering to raise funds in yuan and Hong Kong dollars, according to a source.

-- Two second-hand apartments were sold for a record sum on Sunday for an estate in New Territories as demand for secondary units keeps rising due to limited supply.

HONG KONG ECONOMIC TIMES

-- Ka-keung Chan, Secretary for Financial Services and the Treasury, said risks for the city's real estate market have not subsided from two years ago and the government would not loosen property tightening measures after global hot money started flowing into Hong Kong recently.

MING PAO

-- Financial Secretary John Tsang Chun-wah said in his blog Hong Kong may record a "significant increase" for home prices in May.

For Chinese newspapers, see............... ($1 = 7.7506 Hong Kong dollars) (Reporting by Yimou Lee; Editing by Subhranshu Sahu)

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