News

The World Bank downgraded recently its growth forecast for developing countries in East Asia and the Pacific to 7.2%.

China's Huawei Technologies Co Ltd is considering an IPO in Hong Kong to boost its handsets business in major world markets.

The retail sales picture for August show markedly lower spending for luxury and non-essential items with buyers focusing spending on basic commodities such as food and clothing.

Hong Kong-based banks now hold over a third of all the profits and assets made by foreign banks in China.

An update of ADB’s Asian Development Outlook 2012 lowers PRC’s 2012 forecast to 7.7% from the projected 8.5%.

Mainlanders traveling in groups or singly are expected to increase by about 10% during China's National Day Golden Week holiday that began Sunday.

Credit Suisse Group AG predicts Hong Kong’s growth to fall to 1.4% this year from its previous forecast of 2% on weakening domestic demand.

Hong Kong saw a 21% year-on-year rise in visitors in August, reaching 4.9 million, said the Tourism Board.

Syndicated bank loans in Hong Kong plunged 41% in Q3 to HK$10.5 billion from the HK$17.7 billion in Q2.

More used homes transactions caused Hong Kong’s approved mortgage loans to rise 29% in August from July.

More business exchanges in services between Hong Kong and Taiwan will ultimately serve to boost the economies of both states.

Fitch Ratings has affirmed Hong Kong's Long-Term Foreign- and Local-Currency Issuer Default Ratings at AA+.

Hong Kong recorded a balance of payments deficit of $7.1 billion in 2Q12, as against a surplus of $63.8 billion in the first quarter.

LUKoil, Russia's second largest oil company, has postponed its Hong Kong listing to 2013.

The continuing economic slump reduced the ranks of the rich in Hong Kong by over 17% in 2011.

Hong Kong has again been cited as the economy that offers the highest level of economic freedom worldwide.