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Financials

PRESS DIGEST - Hong Kong - July 14

HONG KONG, July 14 (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.

SOUTH CHINA MORNING POST

-- Secondary home deals in 50 major residential developments rose 5 percent to 637 transactions from July 5 to 11 as end-users and investors returned and prices were expected to rise substantially in the near future, according to property agent Ricacorp Properties.

-- Hong Kong's affluent people are among the oldest in the region, with an average age of 48 compared to 44 in Singapore and 36 on the mainland, according to a HSBC 0005.HK survey.

HONG KONG ECONOMIC JOURNAL

-- China Merchants Bank 3968.HK600036.SS, a mid-sized Chinese lender, will provide syndicated loans to Chinese companies in the United States from as early as this quarter.

-- Toy manufacturer Lung Cheong International Holdings 0348.HK said it had signed a letter of intent to acquire HNA Group, the fourth-largest aviation enterprise in China, for an estimated HK$6 billion ($772 million), in a bid to expand into the aircraft leasing market.

MING PAO

-- People's Bank of China has authorised BOC Hong Kong 2388.HK, the Hong Kong unit of Bank of China 601988.SS3988.HK, to provide yuan cash settlement services for Taiwanese lenders operating in Hong Kong.

WEN WEI PO

-- Hainan Province signed contracts on 22 projects with Hong Kong companies in a ceremony on Tuesday with total investment amounting to 30.51 billion yuan ($4.51 billion), focusing on the tourism, real estate and service sectors.

TA KUNG PAO

-- Chinese residential property developer Fantasia Holding 1777.HK said its contracted sales totalled 1.393 billion yuan ($205.7 million) for the first six months of 2010, up 29 percent from a year earlier.

For Chinese newspapers, see...............[PRESS/CN]

For Taiwan newspapers, see............[PRESS/TW] (Reporting by Twinnie Siu; Editing by Jonathan Hopfner)

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