HONG KONG Dec 6 These are some of the leading
stories in Hong Kong newspapers on Thursday. Reuters has not
verified these stories and does not vouch for their accuracy.
SOUTH CHINA MORNING POST
-- Cheung Kong (Holdings) Ltd, which offered 100
units of its Lai Chi Kok project, said it has collected around
HK$300 million ($38.71 million) selling 30 units in the first
hour of launch, a result that market watchers described as poor
sales performance. ()
-- China Mobile Ltd, the world's biggest mobile
operator by subscribers, is working on setting up an internet
company, Chief Executive Li Yue confirmed, ending months of
speculation. He did not give further details. ()
HONG KONG ECONOMIC JOURNAL
-- Chinese Estates Holdings Ltd said its
subsidiary, Billion Up Limited, agreed to sell all its shares in
Chi Cheung Investment Co Ltd, about 61.96 percent, for
HK$560.5 million. The net proceeds are intended to be used by
the group as general working capital.
HONG KONG ECONOMIC TIMES
-- Citigroup, which said it will cut 11,000 jobs
worldwide to save $1.1 billion a year, plans to close seven
branches in Hong Kong next year, accounting for 15 percent of
its total number of branches in the city.
-- Overseas enterprises using the yuan for trade settlement
are expected to account for 20 percent of China's overall trade
volume by 2015 to 2016 from the current 12 percent, said
Benjamin Hung, chief executive of Standard Chartered
Hong Kong. ()
SING TAO DAILY
-- China Aoyuan Property Group Ltd has acquired a
commercial land plot in Panyu district, Guangzhou city, for
about 3.4 billion yuan ($546.16 million), mainland media
reported. The site, which covers an area of 120,400 square
meters, is meant for developing a high-end shopping complex.
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