July 26, 2011 / 2:00 AM / 8 years ago

PRESS DIGEST - Hong Kong - July 26

HONG KONG, July 26 (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.


— Total advertising spending in Hong Kong reached HK$16.56 billion ($2.125 billion) in the first half of this year, a record high and up 16 percent from last year, according to media-monitoring firm admanGo.

— Outspoken activist priest Father Franco Mella was denied entry to the mainland on July 19 in what he believed to be a show of Beijing’s displeasure in the row over China’s ordination of bishops. Border staff did not provide any information.

— The China Securities and Regulatory Commission and the Shanghai exchange have drawn up tougher rules, which include asset and earnings requirements, for companies seeking to list on Shanghai’s planned international stock exchange, said market sources.


— New mortgage loans issued in Hong Kong totalled HK$26.6 billion ($3.41 billion) in June, falling 16 percent from the previous month, due mainly to the government tightening mortgage requirements in early June.


— Real estate developer Minmetals Land Ltd announced that the Hebei Xiangshan local government would buy land owned jointly by the company and China Vanke Co Ltd for 730 million yuan ($113.3 million). While this signifies the annulment of a residential project for which pre-sale orders had started being taken, the company claims it will not incur any losses.


— Fortune Real Estate Investment Trust has set aside HK$3 billion for mergers and acquisitions, eyeing mainly office buildings and malls in China and Hong Kong, said Chairman Justin Chiu.


— China Resources Land Ltd plans to invest 20 billion yuan ($3.1 billion) to build the Qingdao China Resources Center as its first project in Qingdao. The 1.2 million square meter development will include a shopping center, high-end apartments, an office building and a five-star hotel.

For Chinese newspapers, see...............

For Taiwan newspapers, see................ ($1 = 6.445 yuan) (Reporting by Justina Lee, Ingrid Tjendro, and Zoey Zhang; Editing by Jonathan Hopfner)

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