PRESS DIGEST - Hong Kong - Aug 20

HONG KONG, Aug 20 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

HONG KONG ECONOMIC TIMES

-- The government is poised to resume hiring civil servants this year as the workforce has shown signs of ageing. The number of civil servants aged 45 or less has dropped 30 percent from five years ago and another 80,000 will retire from public office in the next 15 years.

APPLE DAILY

-- The Chinese authorities are seriously considering launching a market rescue package worth as much as 400 billion yuan ($58.26 billion), according to a report released on Tuesday by JPMorgan.

SING TAO DAILY

-- Gold medalists of the Chinese national Olympic team will visit Hong Kong next week. Diving, gymnastics, badminton and other athletes will demonstrate their skills in different shows for the public.

SOUTH CHINA MORNING POST

-- China Merchants Bank (3968.HK), the country's fifth-largest lender by market value, plans to set up representative offices in London and Taipei to speed up its overseas expansion.

THE STANDARD

-- Net interest margins will decline in the second half amid uncertain rate policies, along with a shift of capital from the stock market to fixed deposits, China Merchants Bank has said.

-- Credit market turmoil has driven the United States into a recession and may topple some of the nation's biggest banks, said Kenneth Rogoff, former chief economist at the International Monetary Fund.

SING PAO

-- Hong Kong's overall quality of life has improved over the past five years, according to a Chinese University study. The score however is expected to fall because of inflation.

TA KUNG PAO

-- HSBC (0005.HK) has maintained its GDP forecast for this year at five percent. At the same time it says Hong Kong lenders may have to increase their mortgage rates because interbank interest rates have increased.