April 3, 2012 / 1:45 AM / 6 years ago

PRESS DIGEST - Hong Kong - April 3

HONG KONG, April 3 (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.


- At least two global firms, including TPG capital, that had been in talks with the China’s Chongqing city government to set up yuan-denominated private equity funds there have decided to put negotiations on hold due to concerns about political uncertainties in the city, people familiar with the matter said.

- Hong Kong’s Financial Reporting Council is investigating several locally listed mainland firms for suspected financial irregularities. Investors are questioning the credibility of mainland firms after a number of auditing firms quit their mainland clients recently, including China Forestry.


- Starbucks Corp plans to have 1,500 stores in more than 70 Chinese cities by the end of 2015 and expects China to become its second-biggest retail market measured by the number of stores by 2014, said John Culver, president of Starbucks China and Asia-Pacific.


- Mainland property developer Greentown China Holdings Ltd expects gearing to ease to 100 percent this year from 149 percent at the end of last year, said chief executive Shou Bainian.


- Chinese property developer Kaisa Group Holdings Ltd said contract sales for the first quarter totalled 2.7 billion yuan ($429 million), up 124 percent from a year earlier.

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