|
China.Hawaii Chamber of Commerce ® "Hawaii-China Guan Xi, We Get Things Done™" - Trade Advocacy Organization
Biz
Opportunities:
China
Hong
Kong China
Leaders
Business
Survey by
|
|
|
Hong Kong, China & Hawaii Biz*
Do you know our dues paying members attend events sponsored by our collaboration partners worldwide at their membership rates - go to our event page to find out more! After attended a China/Hong Kong Business/Trade Seminar in Hawaii...still unsure what to do next, contact us, our Officers, Directors and Founding Members are actively engaged in China/Hong Kong/Asia trade - we can help!
Are you ready to export your product or
service? You will find out in 3 minutes with resources to help you -
enter
to give it a try
November 30, 2007
Macau property industry professionals received a pay rise this year that was double that of their Hong Kong counterparts, topping the list of a salary and benefits survey of seven Asia-Pacific regions. The green light for relaunching Lantau's problem-plagued cable car depends on a final reliability test scheduled within two weeks' time, Ngong Ping 360's deputy head of operations Raymond Leung Wai-man said yesterday.
Hong Kong stocks fell Wednesday in volatile trade, tracking a broad sell-off in global equity markets amid widening losses linked to the subprime mortgage market. But stocks bounced back in the afternoon recouping some of the early losses. Shares in HSBC (0005) fell as much as 3.1 percent yesterday, after the bank announced it would provide US$35 billion (HK$273 billion) in funding to save its two structured investment vehicles, and JPMorgan said Standard Chartered (2888) may "need to follow suit," and move US$13 billion of SIV assets onto its balance sheet.
Chinese toys export rebounds despite recalls - Customs authorities in Guangdong Province, a major base for the toy-making industry in southern China, said demand for exported toys has rebounded despite a spate of recall dramas earlier this year. Latest statistics obtained from the Huangpu Customs show the value of toys exported by Guangdong slipped by 5.4 percent in September compared to the same period last year, but it regained strength to register a year-on-year increase of 27.6 percent in October. Customs analysts said the rebound was spurred by rising demands in the Christmas retail season, and it also shows that toy recalls, staged by the US toy maker, Mattel Inc, since summer over lead-contaminated surface paint, proved to have had limited impact on the province's toy exports. Mattel apologized to China in September that 87 percent of the recalled toys were found to have loose magnets -- a design defect from Mattel itself -- and 13 percent of which contained excessive lead. In the first ten months, Guangdong exported toys with a total value of US$4.94 billion, up 22.9 percent over the same period last year. About US$3.92 billion, or 79 percent of the total were exported to the United States and the European Union. Exports to the US alone were US$2.31 billion, up 15.4 percent over the same period last year, while a 53.6 percent hike was seen in exports to Latin American countries. Guangdong alone manufactures about 70 percent of the total Chinese toys made for export and about half of the world's toys. In order to address the customer uproars over toy safety, the province launched a month-long safety inspection in September over its toy manufacturers. The provincial Quarantine and Inspection Bureau announced at the end of October it did discover problems like substandard paint and loose parts in toys. The bureau withdrew production licenses from 423 toy makers, suspended licenses of 341 toy companies, and ordered 690 others to improve their working practices.
China Post to auction hotels to shed non-core assets - China Post Group, operator of the country's postal system, will auction off 60 hotels, an asset exchange said, as the government urges state companies to shed non-core businesses. The China Beijing Equity Exchange, a site for trade in unlisted assets, said on its Web site that China Post would sell the hotels through an auction at the exchange. An exchange official said the hotels, located in 24 provinces across China, would be subject to further valuation but would be worth a total of at least four billion yuan (US$541 million). China Post put 30 hotels up for sale in June in an auction in Shanghai and aims to sell all 400 of its hotels by the end of 2008. China's state asset watchdog, the State-owned Assets Supervision and Administration Commission, has urged major state-run companies to focus on their main businesses and sell unrelated operations to improve efficiency and competitiveness. Sinopec Corp, Asia's top refiner, plans to sell its hotel businesses to China Travel Service Ltd. China Post Group was created in January in a restructuring aimed at improving efficiency in the country's postal system, which was previously operated by the government itself. Some hotel operators see the auction as an opportunity to expand. Home Inns & Hotel Management Inc, China's biggest budget hotel chain, said in July it was in talks with China Post on the purchase of some properties as it aims to quadruple the number of its hotels to 1,000 in the next few years.
November 29, 2007
HSBC (0005) will bring US$45 billion (HK$351 billion) of assets from two structured investment vehicles (SIVs) onto its balance sheet to mitigate the impact of funding shortages facing the credit market, the London-based lender said yesterday. Hong Kong's exports grew stronger than expected last month as robust growth in shipments to the mainland and other Asian markets helped offset slowing demand in the United States. But economists warned of a less supportive external environment in coming months as the US economy slows.
November 28, 2007
November 27, 2007
Hong Kong police and colleagues in six countries and regions have arrested 423 people in a crackdown on illegal soccer gambling networks thought to have taken bets worth US$680 million.
AC/InterActiveCorp, one of the world's largest internet conglomerates, plans to invest US$100 million to set up a company on the mainland.
China's State Council, or cabinet, has ordered all central organs to use "economic, energy-saving, environment-friendly and domestic-brand" automobiles. China bought from abroad US$3.14 billion worth of textile machinery in the first eight months of this year, a growth of 25.5 percent year on year.
French President Nicolas Sarkozy begins a three- day state visit to China on Sunday, with business deals and the environment at the top of his agenda. November 26, 2007
Hong Kong stocks extended their losses Friday in choppy trade after the mainland markets plunged 4.5 percent on renewed concerns the US subprime mortgage crisis could slow the Chinese economy's breakneck pace of growth.
The value of China's trade with Latin America was 63.97 billion U.S. dollars in the first nine months of this year, up 43.5 percent year-on-year, said Fu Ziying, assistant minister of the Ministry of Commerce of China (MOFCOM). China's consumer price index (CPI) will rise 4.5 percent to 4.6 percent for the whole of the current year, which will indicate a moderate and tolerable inflation, the country's top statistician Xie Fuzhan said Thursday at Tsinghua University. The first picture of the moon captured by China's first lunar orbiter is expected to be ready for publication within three days, the country's space administration said Friday.
November 25, 2007
Flats in Aberdeen sold for between
3 and 7 percent more after the better-than- expected land sales last Monday, but
transaction volume fell 40 to 50 percent. One week after the sales, the average
selling price of 12- to 15-year-old flats at South Horizons rose 3 percent to
HK$4,858 per square foot, while that of three-year-old Sham Wan Towers and
28-year-old Aberdeen Centre climbed to HK$5,128 and HK$3,603, respectively, both
up 7 percent. Real estate experts say Hong Kong's thriving luxury property
market is reminiscent of the situation around 1996 - only this time they expect
the boom to sustain.
Tycoon Lee Shau-kee is donating HK$500 million (US$66 million) to the University of Hong Kong. The donation will be split into two, with half for scholarships and the rest for campus development. A ceremony attended by Mr Lee, chairman and managing director of Henderson Land Development (SEHK: 0012), and Tsui Lap-chee, vice-chancellor of the university, will be held today. In March, Mr Lee gave HK$400 million to the Hong Kong University of Science and Technology. At that time, he likened donations to investments, which he said should be made with regard to the potential for growth and their contribution to society. HKU started its endowment fund in 1996 but did not begin focusing on fund-raising until 1999. Significant inflows began in 2003 and 2004 when the government introduced a matching scheme. In May 2005, tycoon Li Ka-shing donated HK$1 billion to the university. This led to criticism when the university renamed its medical school after him.
Popularity ratings between Legco by-election candidate Anson Chan Fang On-sang and her main rival Regina Ip Lau Suk-yee have narrowed to a single-digit difference after the district council elections on Sunday, a survey has found. The central government in Beijing on Thursday gave approval to the USS Kitty Hawk and accompanying ships to enter the port of Hong Kong for the Thanksgiving holiday.
Laptop computer users will soon be able to enjoy full internet browsing mobility while commuting, as more laptops become compatible with the 3.5G mobile network, according to an industry association.
China has made considerable progress in taking actions to ensure safety of toys and other products exported to Europe, said the European Union consumer chief. The emergence of payment services through mobile phones has put a virtual withdrawal machine in consumers' hands, enabling 8 million mobile users in China to buy insurance or book tickets with a flick of their fingers. Promising consumers "safe and convenient payment at any place at any time," China UnionPay, a central bank arm that provides a nationwide electronic payment network, developed this service, which connects users' bank accounts with their mobile phone numbers. Nearly 8 billion yuan worth of payments was transacted in this way in the first 10 months of the year as the service gradually expanded to 21 provinces and cities across the country. Consumers found they could save the trouble of queuing impatiently at the banks. Instead, they can send instructions through text messages to pay for anything, from phone services to insurance. Although only 8 million customers use the service, a small number compared with the total number of mobile phone users in China, UnionPay is confident that the service will "run in the fast lane" as more Chinese who used to carry cash around embrace diversified payment methods. On Monday, commercial banks started to offer cross-bank services. Chinese customers can now make deposits and cash withdrawals at different banks, regardless of where they keep their accounts. At the same time, more services based on the ubiquity of mobile phones are being developed. China Mobile recently joined with leading securities firms and financial newspapers to launch a new service that provides key information on capital markets to subscribers. (One U.S. dollar equals to 7.41 yuan).
November 24, 2007
Hong Kong stocks tumbled Thursday, tracking other Asian markets, as investors grew cautious after the US Federal Reserve lowered its growth outlook for the nation's economy, while also displaying a hawkish stance in the minutes of its October policy meeting. China should not allow the "through train" to leave the station, as the government may not be able to stop huge amounts of domestic capital from flowing overseas once the direct investment scheme starts rolling full steam ahead, a former mainland central banker warns.
|
Skype - FREE
Voice Over IP
Hong Kong:
The frenzy for initial public offerings has likely faded as Sinotruk (3808), the
mainland's largest truck manufacturer, may follow Sinotrans Shipping (0368),
which fell below the offer price on its trading debut.
Kowloon Motor Bus yesterday announced a fare concession strategy which it says
is not aimed at the merger of Kowloon Canton Railway and the Mass Transit
Railway corporations. KMB's strategy comprises fare concession for seven
connecting trips covering 21 routes which are in areas served by KCRC and MTR
Corp. The bus company will introduce the scheme from Sunday - the same day the
merged railways will begin their fare concessions. KMB operations director Tim
Ip denied the company is trying to counter the fare reduction of the railways.
"We've been studying the implementation of the scheme and time is needed to take
steps and make preparation. So it is just a coincidence that we start our
interchange schemes on December 2. "It has no direct relationship between our
decision and the merger of the two railways," Ip said. He said the new schemes
are provided according to passengers' travel patterns and service demand. The
passengers will have to use Octopus cards for the specified bus routes and
interchange within two hours and 30 minutes. They will enjoy a discount of
HK$3.50 for airconditioned buses or HK$2.70 for non-airconditioned buses. There
will be discounts of 30 percent to 50 percent on 60 percent of the routes on the
second-leg journeys - a saving of 70 percent because of the free ride for the
rest of the routes. KMB's offer will cover West Kowloon, Tsuen Wan, Sha Tin,
Yuen Long, Tuen Mun, Tin Shui Wai and North District. In most cases, the fare
after the concession will be lower than the same route using the MTR. One of the
fare concessions is between Tsuen Wan West and Tsim Sha Tsui. Route 234A costs
HK$4.90 from Tsuen Wan to the Tai Chung Road bus stop, and if the passenger
takes a second- leg journey by using route 234X to Tsim Sha Tsui, they will save
HK$3.50 from the original fare of HK$7.50 for the second journey. The total cost
will be HK$8.90. For a journey by MTR on its single-journey fare rate, it will
be HK$9, or HK$8.20 with an Octopus card. Ip pointed out the concession will not
affect KMB's September decision to apply for a 9 percent fare rise, as the
company is still under pressure from surging operating costs such as fuel and
salary increases. He said KMB had taken into account the latest concession
scheme before making that application.
Tony Leung
(R) and Tang Wei are seen in this post of "Lust, Caution". They have been
nominated for best leading actor and actress in the 2008 Film Independent's
Spirit Awards.
Chinese star Gong Li
and John Cusack are set to feature in a new period drama set in Shanghai during
World War II, entertainment industry press reported on Tuesday. Gong, whose
recent movies include "Curse of the Golden Flower," "Miami Vice" and "Memoirs of
a Geisha," has already signed to star in the film, "Shanghai," Daily Variety
reported. Veteran actor Cusack, who has earned glowing reviews for his
performance in recent films "Grace is Gone" and thriller "1408," is still in
negotiations with studio bosses from The Weinstein Co., the report added. Cusack
is being lined up to play an American who returns to Japanese-occupied Shanghai
four months before Pearl Harbor to discover that a friend has been killed. The
film follows Cusack as he unravels the mystery of the death and gradually
uncovers a cover-up, Variety reported. The film is to be directed by Mikael
Hafstrom with filming scheduled to begin in 2008.
Pork lovers will have to dig deeper into their pockets
following another price rise - the third in six months. They will have to pay
HK$38 for a catty of fresh pork, up HK$2, after Ng Fung Hong - one of the
territory's three suppliers of live pigs from the mainland - raised the
wholesale price of pork by a hefty 8 percent yesterday. The company said the
adjustment is aimed at stabilizing local supply amid continued price increases
in fresh pork in the mainland. The latest increase represents a 25 percent jump
in the wholesale price to more than HK$1,300 per 100 catties and a rise of HK$8
per catty in the retail price since May. The Fresh Meat Alliance - a union of
live-pig buyers and truck drivers - has warned that high pork prices are here to
stay for some time. Alliance spokesman Ling Wai-yip said he is not optimistic
about any price cuts in the near future as prices of live pigs in the mainland
have continued to soar for the seventh week.
China:
China on Tuesday got its first judge on the World Trade Organization (WTO)'s
highest court, six years after the country joined the Geneva-based body. Chinese
lawyer Zhang Yuejiao was formally appointed by the WTO Dispute Settlement Body (DSB)
as a member of the seven-person Appellate Body, which issues final rulings in
trade disputes, WTO sources said. Jennifer Hillman of the United States, Lilia
Bautista of the Philippines and Shotaro Oshima of Japan were also appointed as
new members of the top court at a DSB meeting on Tuesday. The appointments were
made according to the Dispute Settlement Understanding which stipulates that the
Appellate Body shall "comprise persons of recognized authority, with
demonstrated expertise in law, international trade and the subject matter of the
WTO agreements generally," a WTO statement said. The WTO said Hillman and
Bautista would formally join the top court next month, while Zhang and Oshima
would join in June. They can serve up to two four-year terms. Zhang, 63, is
professor of law at Shantou University in China. She is also an arbitrator on
China's International Trade and Economic Arbitration Commission and practises
law as a private attorney. Zhang once held positions at the Chinese Ministry of
Commerce as well as at the Asian Development Bank. 
The
Chinese People's Liberation Army(PLA) Naval missile destroyer "Shenzhen" arrived
in Tokyo on Wednesday morning for a four-day visit. "Shenzhen," with 345
officials and soldiers onboard headed by Rear Admiral Xiao Xinnian, vice chief
of staff of the South China Sea Fleet of the PLA Navy, entered into the Tokyo
Bay earlier in the morning and was led to the port by the Japanese Maritime
Self-Defense Force (MSDF)'s frigate "Thunder". The 9:55 a.m. port call at Harumi
wharf, which is close to central Tokyo, is the first of its kind in the history
of PLA's navy. 
Rear
Admiral Xiao Xinnian(R), vice chief of staff of the South China Sea Fleet of the
Chinese PLA (People's Liberation Army) Navy, shakes hands with Eiji Yoshikawa,
chief of staff of the Japanese Maritime Self-Defense Force (MSDF), after
arriving in Tokyo on Nov. 28, 2007. The Chinese People's Liberation Army (PLA)'s
navy missile destroyer "Shenzhen" arrives in Tokyo Wednesday morning for a 4-day
goodwill visit to Japan, Nov. 28, 2007. It's the first time for PLA vessels to
visit Japan.
French
President Nicolas Sarkozy (R Front) visits the Bund Area in Shanghai, east
China, on Nov. 27, 2007. Sarkozy left here Tuesday, concluding his three-day
state visit to China. 
A signing ceremony
between Shanghai Shentong Metro. Co., Ltd and French Alstom company was held on
purchasing signal equipment for Shanghai metro line 10 in Shanghai, east China,
on Nov. 27, 2007.
China Football
Association Vice President Nan Yong poses after China won the Asian Football
Federation (AFC) Association of the Year at the AFC Annual Awards in Sydney
November 28, 2007.
Disgraced
Shanghai property tycoon Chau Ching-ngai could face the death penalty or be
sentenced to life imprisonment if he is convicted on charges of bribery,
embezzlement and tax fraud. The Shanghai No 2 Intermediate People's Court posted
a notice yesterday saying it will hand down its verdict on Friday. Chau, 46,
also known as Zhou Zhengyi, has been on trial on three charges related to his
Shanghai-based property company, Nongkai Development Group. The counts include
offering bribes and forging value-added tax invoices. Chau has also been charged
with two other counts of bribery and embezzlement.
HK official calls for e-certificate food system - Hong Kong Secretary for Food
and Health York Chow said in Beijing on Tuesday that a common international
platform for an electronic health-certificate system should be developed to
enable food tracing with laser precision. According to a press release from the
Information Services Department of Hong Kong Special Administrative Region
(HKSAR) government, Chow said at the international food safety forum that with
the platform authorities can predict food issues before they occur and food
incidents can be resolved within hours rather than days. Hong Kong is heading
towards this direction and devising a set of food standards and making the best
use of an electronic food-tracing system, he added. Chow said a common format
and platform for electronic health and food safety certification could greatly
minimize economic, political and health damage caused by food-safety incidents.
He said the HKSAR government is drawing up a new law to manage food safety, is
learning from the best international practice and is more than willing to
contribute to the strengthening of international co-operation on the issue,
according to the press release. Chow said the goal is to ensure a comprehensive
and up-to-date set of food-safety standards complying with international
standards, yet suited to Hong Kong's circumstances. The HKSAR government is
planning a central poultry abattoir to avoid a human avian-influenza outbreak.
Although the proposal has been hotly debated, Chow said he is confident the
public will support it. 
New
Year's Eve will herald Hong Kong's two free television stations entering the
digital age. From 7pm on December 31, half the territory will witness a new era
of broadcasting. Viewers with an analogue TV set will have to purchase a digital
set-top box or buy a set with built-in decoder to access the channels. Asia
Television and Television Broadcasts announced their decision at a joint press
conference yesterday with the Commerce and Economic Development Bureau. The
government said preparations for introducing free digital television are
proceeding as planned. These will initially cover Kowloon Peninsula, north Hong
Kong Island, part of Sha Tin and the east of Lantau Island. Secretary for
Commerce and Economic Development Frederick Ma Si- hang said the two stations
will accelerate construction on transmission stations to target 75 percent
population coverage between the end of this year and early August. In an initial
phase of digital development, ATV will roll out seven channels and TVB five.
Each will have several standard (SDTV) channels and a high definition channel
(HDTV). ATV senior vice president of program Kwong Hoi-ying said news and
finance broadcasts will have trial runs as early as 7am on December 2. The
government will assist the Housing Department in upgrading cable systems for
public estates and liaise with property management companies to provide
technical assistance on communal aerial systems. Receivers costing several
hundred dollars eliminate common reception problems, while expensive and
sophisticated receivers costing thousands of dollars offer access to HDTV.
"Digital terrestrial television will enable both standard and high definition
formats," said Citi analyst Jason Brueschke. HDTV offers a clearer image and
uses a wider, 16:9 aspect, ratio. "The main benefits of digital TV are
significantly clearer and sharper images and enhanced sound quality," Brueschke
explained. ATV vice president of engineering Choi Chung-hong said no set-top
boxes currently available have yet been approved under the Office of the
Telecommunications Authority's voluntary labeling scheme. TVB spokeswoman
Stephanie Wong Hoi-ki said it has no detailed information on which set-top boxes
people should buy and does not recommend any particular models. "At this point,
the quality is not assured," said Wong, referring to the set- top boxes being
sold. 
Race for new hot spots as cruise
industry grows - Tourists made a total of 450,000 visits to Hong Kong aboard
cruise liners in the first nine months of this year - an increase of 150 percent
over the same period last year. The boom has led tourism bodies to explore new
cruise destinations in the Greater China region and Asia Pacific, helped by the
expected opening of the territory's second cruise terminal at Kai Tak in 2012.
Speaking at a ceremony yesterday to mark the arrival of Star Cruises' redeployed
vessel, SuperStar Libra, Hong Kong Tourism Board executive director Anthony Lau
Chun-hon said the cruise industry is now the fastest- growing tourism sector
worldwide, and the Asia Pacific region will be the hot spot for growth. Among
the 450,000 cruise visits, more than half were made by tourists who flew here
first and toured Hong Kong before boarding cruise liners. Lau said Hong Kong
needs to step up the game amid stiff competition from neighbors to become a
regional cruise hub. Star Cruises - the world's third- largest cruise operator
owned by Malaysia's Genting Group - is one of the leading bidders for the Kai
Tak cruise terminal project announced on November 9. William Ng Ko-yin,
executive director of Star Cruises, said the company is interested in bidding
for the project with partners, and hopes to submit its proposals soon. Tenders
will close on March 7 next year. Tourism commissioner Au King-chi recently met
with representatives from Guangdong, Guangxi, Fujian and Hainan provinces in
Kunming to discuss the possibility of opening up more destinations for cruise
tourists. Cruise operators are also positioning themselves as Hong Kong steps up
efforts to become the region's cruise hub. The 42,000-tonne SuperStar Libra,
which can carry 1,480 passengers, will operate out of Hong Kong until March next
year. At present, Star Cruises is the only cruise operator to have three vessels
based in Hong Kong. The other two are SuperStar Aquarius and Star Pisces, while
another liner, Virgo, will join the fleet next year. SuperStar Libra will soon
begin cruises to Zhanjiang, Haikou and Sanya in the mainland, Halong Bay in
Vietnam and Kaohsiung in Taiwan. Ng said exploring new destinations in the Asia
Pacific and the Greater China region will help the group meet its future
targets. "The cruise business must have good connections with nearby countries -
having a terminal is not enough," he said. The Tourism Commission said having
more cruise vessels based in Hong Kong will strengthen the territory's position
as a regional cruise hub. 
Wu Yi slams EU trade chief over
product safety - China' top trade official, Vice Premier Wu Yi, has strongly
rejected European Union Trade Commissioner Peter Mandelson's speech in Beijing
on the mainland's food safety, saying she was "extremely dissatisfied" that he
had politicized the issue. 
Chinese President Hu Jintao
(R) welcomes his French counterpart Nicolas Sarkozy in Beijing on November 26,
2007.Sarkozy arrived in Beijing on Sunday for his first state visit to China
since taking office in May. 
China attaches importance to food safety - Chinese Foreign Ministry Spokesman
Qin Gang said in Beijing on Tuesday that China attached great importance to food
safety and had taken effective measures in legislation, administration and media
supervision. Chinese Foreign Ministry Spokesman Qin Gang said in Beijing on
Tuesday that China attached great importance to food safety and had taken
effective measures in legislation, administration and media supervision. Qin
said obvious achievements have been made since China recently tightened
supervising on food safety. The rate of unqualified products in the export of
food from the European Union (EU) to China stood at 0.84 percent in the first
nine months of this year, while that from China to EU stood only at 0.2 percent,
Qin said. "We would make 100 percent efforts to resolve the 0.2 percent problem
(unqualified food)," Qin added. Citing Japanese official statistics released
last July, Qin said, 99.42 percent of the food exported from China to Japan were
qualified, which was higher than the United States' rate of 98.69 percent in its
exported food to Japan and the EU's rate of 99.38 percent. Qin admitted that
there is certain problems in Chinese food production, but such problems were
very few, and China has taken responsible attitude in dealing with the problems
so as to continuously raise the qualification rate of food and other products.
Noting that food safety was a challenge for the international community, Qin
said all countries should join hands to maintain people's health. Qin also
called on media to make objective, true, just and responsible reports about
Chinese food safety, saying China would not only enhance product quality, but
also protect legitimate rights and interests of Chinese manufacturers and
consumers. 
Chinese Vice Premier Wu Yi delivers a speech at the High Level International
Food Safety Forum in Beijing Nov. 26, 2007. The forum opened in Beijing on
Monday. Chinese Vice Premier Wu Yi said here on Monday that international food
safety issues should be settled through friendly consultation, instead of finger
pointing and groundless blames. 
China has signed an
agreement worth 17.4 billion U.S. dollars to buy 160 planes from French company
Airbus. The deal, inked in Beijing, is composed of 110 A320 planes and 50 A330
planes, according to Airbus China.
One of Hong Kong’s most famous and
distinguished citizens – Sir Run Run Shaw – turned 100 on November 26 2007. Born
Rein Sha in Ningbo, Zhejiang on the mainland, Sir Run Run is famous as a
businessman, philanthropist, and film-maker. He was one of six sons born to a
Shanghai textile merchant in 1907 and received his education in American-run
schools. His impact on the film industry in Asia has been extraordinary. As Time
magazine said: “Shaw is the name that dominates the movie business of Southeast
Asia. Shaw Brothers’ films, produced at Shaw’s Movietown, shot in Shawscope
colour and shown in 143 Shaw-owned theatres, attract 250,000 people a day from
Hong Kong to Jakarta, plus thousands more in Chinatowns around the world.” Sir
Run Run one explained his success this way: “A small screen can never compare
with a big screen. Movie houses will carry on. People like to go out, they like
to be in a crowd. I am very fortunate. Our organisation owns so many theatres in
this part of the world that there’s no competition.” Sir Run Run travelled to
Singapore with his brother Dr Run Me Shaw at 19 to establish a film market. It
was then that he developed an interest in the film business. Their trip to
Singapore saw the brothers establishing a film company in 1930 called South Seas
Film Studio which later on became Shaw Studios. It went on to produce famous
Chinese films such as The Five Deadly Venoms and made many virtual unknowns into
household names. By 1967, Sir Run Run came to Hong Kong and eventually launched
TVB (SEHK: 0511) – one of Hong Kong’s biggest broadcasters. The broadcasting
channel is now a million dollar enterprise and hosts the annual pageant Miss
Hong Kong which has produced many stars such as Anita Yuen and Bernice Liu. He
received his knighthood in 1977 for his contributions to Hong Kong. Shaw
Studios, on the other hand, stopped productions in 1987. After his wife died, he
remarried in 1997 to Mona Fong Yat-wah, the current deputy chairwoman of TVB. In
May Ms Fong told reporters after the annual shareholders’ meeting that Sir Run
Run “is considering to retire” this year. Sir Run Run also delved into other
businesses such as real estate. He owns the 23-story Shaw Tower at Cathedral
Place located in Vancouver, Canada and few other prime estates around the world.
He is also well known for his philanthropy. Over the years, Sir Run Run has
donated billions of dollars to schools, charities and hospitals. In 2004, he
created the international Shaw Prize or the Nobel Prize of the east – awarded to
scientists in three areas of research such as astronomy, mathematics and life
and medical science – with a prize value of HK$1 million. 
Chinese action star Jet Li could get
100 million yuan (about 13.3 million U.S. dollars) for starring in the battle
epic "The Warlords," breaking the record for an actor in a Chinese-language
film, according to the movie's director. Nearly half the budget for the 40
million U.S.-dollar Chinese epic went to the cast, with 100 million yuan to Jet
Li, 16 million yuan to Hong Kong star Andy Lau, 12 million yuan to Takeshi
Kaneshiro, and 2 million yuan to mainland actress Xu Jinglei. "Without Jet Li,
we would not dare to invest 40 million U.S. dollars in a Chinese-language film,"
said director Peter Chan. Chan stressed that Li was the "guarantee" for global
sales. According to Chan, Li can command the equivalent of 120 million yuan in
contemporary Hollywood blockbusters, but he agreed to accept less because of his
friendship with Chan. But the 100-million-yuan payday still broke the record for
a star in a Chinese film -- one that was held by Li himself, Chan said. Li
previously got 70 million yuan for starring in Chinese director Zhang Yimou's
"Hero." Chan earlier spoke highly of Li's ability to handle dramatic scenes when
he was promoting "The Warlords," calling him "the biggest surprise." "I haven't
seen Li handle so much drama in a movie. You can see from clips of the movie
that he portrays many emotional scenes very seriously, very effectively," Chan
was quoted in media reports as saying. Li, 44, a former national kung fu
champion on the Chinese mainland, made his name in Hong Kong films in the 1990s
with movies such as "The Legend of Fong Sai-Yuk" series before moving on to
Hollywood. He recently shot the third installment of the successful "Mummy"
films, titled "The Mummy: Tomb of the Dragon Emperor," and played a resurrected
ancient Chinese emperor. "The Warlords" is an epic about three blood brothers
and their struggle amid war and political upheaval. It is based on "The
Assassination of Ma," a Qing Dynasty (1644-1911) story about the killing of
General Ma Xinyi. The story was previously filmed under the title of "The Blood
Brothers" by Zhang Che in 1973. A release of the new film on Dec. 13, 2007 is
listed for the Chinese mainland, Hong Kong and southeast Asia. It is scheduled
to be released from next March in North America.
Hong Kong is likely to face a cut in the supply of water from the mainland,
which plans to limit the amount of water that cities, including Hong Kong, can
draw from the Dongjiang River. 
Hong Kong's export traders may turn out to
be the losers from weak holiday sales in the United States this season, with
fourth-quarter numbers worsening, analysts say.
Former chief secretary for administration Anson Chan Fang On-sang and former
security chief Regina Ip Lau Suk-yee yesterday clashed over their respective
proposals for introducing universal suffrage in 2012, questioning each other if
they are sincere in pushing for democracy.
French President Nicolas Sarkozy (4L,
Front) and his entourage pose for a group photo with local people at the Museum
of Terracotta Horses and Armored Warriors of the First Emperor of the Qin
Dynasty in Xi’an, capital of Northwest China’s Shaanxi Province, Nov. 25, 2007.
According to the nuclear energy cooperation deal signed on Monday, Areva of
France will help build two reactors in Guangdong Province.
France's President Nicolas Sarkozy
delivers a speech to businessmen at the Franco-Chinese Chamber of Commerce in
Beijing, November 25, 2007, on the first day of a three-day official visit in
China. Airbus said it signed contracts Monday to sell 160 commercial passenger
jets to China in a deal worth around US$14.8 billion. The order includes 110 of
the European company's A320 jets and 50 of the slightly larger A330 planes,
Airbus officials said in Beijing, where they were accompanying French President
Nicolas Sarkozy on his first state visit to China. Airbus and Chinese partners
this summer signed an agreement to produce A320s in China in anticipation of
large Chinese orders for the popular single aisle jet that seats 150 or more
passengers. Size-wise, the plane is well suited for Chinese domestic routes
expected to show strong growth in the years ahead as the economy continues to
expand. Airbus and its American archrival Boeing Co. predict China will become
the world's second-biggest aircraft market after the United States, with
airlines buying 1,900 to 2,600 planes over the next two decades. The order
stands to push Airbus past Chicago-based Boeing in total orders for commercial
aircraft this year. Boeing said last week it had received 1,047 commercial
airplane orders this year, already beating its 2006 record-setting total of
1,044 orders with more than a month to go. Airbus had logged 1,021 commercial
jet orders as of the end of October, the most recent data available on the
company's website. The exact price tag for the purchase was not immediately
clear. Louis Gallois, chief executive of European Aeronautic Defence & Space Co.
NV, the owner of Airbus, said he "had not calculated it." French officials
speaking on condition of anonymity said the deal totaled about 10 billion euros,
or US$14.8 billion. Other Airbus officials said the list price of the planes
came to about US$17 billion. The deal is welcome news to Airbus, which has
struggled with a decline in the US dollar and delays with its A400M military
transport aircraft and the A380 superjumbo that has wiped billions of euros off
EADS' profit. Earlier this month, Gallois said the company needed to find an
extra 1 billion euros (US$1.46 billion) in cost savings after the planemaker and
its parent company announced third-quarter losses. The dollar's drop to record
lows against the euro also makes it harder for Airbus to compete against Boeing
Co., because while it sells its planes in dollars, many of its costs are in
euros. Airbus' agreement to assemble planes in China was seen as part of a
long-term strategy to win a greater share of the Chinese market. Its final
assembly line in the Chinese city of Tianjian is due to deliver its first
aircraft in early 2009. The plant is expected to be able to produce four A320s a
month by 2011 and a total of about 300 A320 planes by 2016.
Miss China Zhang Zilin performs during the
57th Miss World Competition in Sanya of south China’s Hainan Province, Nov. 24,
2007. Zhang is honored the title of best model.
China drives the
global digital TV growth and will account for a quarter of all digital TV
households by 2012, according to Informa Telecoms and Media's Global Digital TV
report.
China has urged local governments
to set up an early-warning system to ensure sufficient oil supplies at filling
stations, which face shortages across the nation.
Kevin Rudd won the election as new Australian Prime Minister amongst the
long-heard voices for the change of government, when voters complained on
Howard's reforms in industrial relations and rising interest rates.
Hong Kong banks are
facing pressure to raise salaries or lose employees. Hongkong Bank says salaries
need to be adjusted and the Hong Kong Association of Banks agrees that salaries
should be raised. Hang Seng Bank (0011) vice chairman and chief executive
Raymond Or Ching-fai said on Friday the staff turnover rate of the bank is
predicted to be 12 percent this year - a decrease from 13 percent to 14 percent
last year, but an increase over the past average of 8-9 percent. "The turnover
rate pressure is likely to continue next year and salaries have to be adjusted
to retain talent," said Or, though he was unable to say by what percentage
salaries were likely to increase. Salaries at HSBC and Hang Seng Bank have
already been adjusted twice this year. They have also lifted the upper limit of
bonuses from the equivalent of four months' salary to five months. Hong Kong
Association of Banks chairman Peter Sullivan said there is "upside room" for
salaries. Hongkong and Shanghai Banking Corp chief executive Sandy Flockhart
said there is inflationary pressure, and that salary adjustments would be
necessary. The pressure to recruit and retain the right staff in the financial
services industry is more acute in Hong Kong than anywhere else in the world,
except for Japan, according to a survey by Robert Half International, a
recruitment agency specializing in financial services. The survey showed that 74
percent are worried about losing their top performers to other job opportunities
in the coming year. "There has been a bit of a war for financial talent," said
Andrew Brushfield, director of the Hong Kong office of Robert Half. 
Financial Secretary
John Tsang Chun- wah said the government is concerned about accelerating
inflation and will take measures to ease problems faced by people who are not
well off. The consumer price index hit a nine- year high at 3.2 percent last
month compared to September's 1.6 percent. "The economy is exposed to many
external factors," Tsang said. "With a weakening US dollar, stronger yuan,
rising global food prices and surging international crude prices, the city's
inflation rate will ... rise." Tsang's views were echoed by Hang Seng Bank
(0011) chief executive Raymond Or Ching- fai. But Or added, "I don't think
people have to worry that much as wages will increase at the same time." With
the currency peg system, he said, it is inevitable banks will follow US rate
cuts. But SAR decisions also depend on capital inflows - especially from the
mainland through the QDII and through-train schemes. Asked whether Hong Kong is
already experiencing negative real interest rates and an asset bubble, Or said
most investors have bought bonds and opened fixed deposit accounts, which offer
higher rates. Still, he added, there is the risk of an asset bubble forming.
Merrill Lynch expects inflation pressure to continue. "The Hong Kong dollar will
depreciate further against the yuan," economist Ting Lu wrote in a report on
Thursday. "This, together with a rapid rise in food prices in China, will
continue to pose an upside risk to the city's inflation in the near term." He
said the low interest rate in Hong Kong will boost asset markets, adding to the
inflation problem. Because higher inflation affects the low-income group more,
especially when buying food, Tsang said the government has been working on
measures to help those affected. On that, Baptist University finance professor
Billy Mak Sui-choi said the fastest way to lower the CPI is by extending
property rates concessions next year. "As rentals account for the largest
weighting in the CPI, waiving rates can result in a more obvious decrease," he
said. But Mak said public housing tenants will not benefit unless rents are cut.
He believes regulating food prices will be more effective. "I don't mean the
government should intervene," Mak said. "Instead, it can discuss with mainland
authorities the possibility of introducing more food suppliers. With more
competition, food prices are likely to fall."
Teenagers now
know more about sex, and they are having more sex, according to the Family
Planning Association's latest findings. The number of Secondary 3 to Secondary 7
students who were reported to have had sex more than doubled - from 5.6 percent
in 1996 to 13.2 percent last year. The number of girls in the group who had sex
nearly doubled during the period - from 4.5 percent to 8.2 percent. And the
number of schoolboys who were reported to have had sex for the first time at 15
or younger reached 6.8 percent last year, compared with 3.2 percent 10 years
before that. For teenage girls it was 4.7 percent against 2.3 percent in 1996.
The survey took in 4,400 respondents aged between 12 and 27 from last November
to this February. The poll has been carried out every five years since 1981. The
survey showed that the young are becoming more knowledgeable about safe sex and
pregnancy. More than 70 percent said they knew about pregnancy risks and that
having more sexual partners would increase the risk of contracting venereal
disease. But Professor Lam Tai-hing of Hong Kong University, who chairs the
Family Planning Association's research subcommittee, said students today appear
to know less about AIDS than those questioned in 1991. Fewer than 80 percent of
secondary students were aware that AIDS could be transmitted through sharing
needles, compared with more than 90 percent in 1991. Lam attributed the drop to
the community shifting its focus from disease transmission 20 years ago to
anti-discrimination and caring for AIDS patients. The poll also showed the young
have become more liberal towards sex. About 70 percent of the Secondary 3 to
Secondary 7 students said they found the idea of cohabitation acceptable while
about half found pre-marital sex acceptable. They were also more open to
homosexuality: 54 percent of the girls and 35 percent of the boys said they
accepted lesbians, compared with 10 percent in 1991; while about one-third said
they would accept gays, against less than 10 percent previously. For young
adults between 18 and 27, 33 percent of men and 23 percent of women opted for
cohabitation before they got married, compared with only 13 percent among men
and 3 percent among women in 1991. However, 40 percent of men and 35 percent of
women said that they did not follow any family-planning methods. Dating has also
become more common among teenagers - with 46 percent of Secondary 1 and
Secondary 2 students saying they have dated before, compared with only 30
percent in 1996. The rate among students in Secondary 3 and Secondary 7 was 60
percent - up by six to eight percentage points from 1991. More teenagers
reported having intimate behavior while dating, like hugging and having sex.
Association executive director Susan Fan Yun-sun appealed to schools and parents
to offer more guidance for their children as more and more teenagers start
dating. "These young people may not be mature enough in handling a breakup in
relationships or unexpected pregnancies," she warned. 
The central
government in Beijing on Thursday gave approval to the USS Kitty Hawk and
accompanying ships to enter the port of Hong Kong for the Thanksgiving holiday.
A spokesman for the mainland’s Foreign Ministry told a news conference on
Thursday the visit would be allowed to go ahead, but he didn’t explain why it
had been blocked in the first place, local radio reported. This comes after the
US asked the central government to reconsider its initial decision. Beijing had
earlier on Wednesday denied the aircraft carrier entry into the territory’s port
for undisclosed reasons – leading the 8,000 strong crew to believe they would
spend the holiday on board the vessel. Thanksgiving – which is on Thursday – is
an important celebration for Americans, who give thanks at the end of the
harvest season. In recent years, relations between the US and the mainland have
soured due to disagreements over Iran’s nuclear enrichment programme and over
the growing US trade deficit. But ties between the two powers were thought to
have improved after a visit from US Defence Secretary Robert Gates to the
mainland in an effort to calm tensions, Agence-France Presse reported. The USS
Kitty Hawk is a super-carrier and the second naval ship named after the site if
the Wright brothers’ first powered flight. She became the last active ship in
her class after the decommissioning of the USS Constellation in 2003 – making
her the oldest vessel in her class. At present, the USS Kitty Hawk is the only
permanently forward-deployed US naval ship in with the Yokosuka naval base in
Japan as her home port. She is scheduled to return to the US to be
decommissioned next year, and will be replaced by the USS George Washington.
The KCRC is scrapping
subsidies for bus passengers introduced two years ago to boost patronage of its
West Rail line. As a result, Citybus will raise fares on three routes from next
month. The announcement came a day after the MTR Corporation (SEHK: 0066)
revealed the fare discounts most passengers will enjoy when the two rail
companies' operations merge next month. A spokesman for the Kowloon-Canton
Railway Corporation would not say whether the scrapping of subsidies was linked
to the merger. Passengers on the 701, 702, and 971 routes enjoy a HK$1.50
discount when they take a West Rail train to or from Nam Cheong station in West
Kowloon. The 701, 702, and 971 routes run between Nam Cheong and Mong Kok, Sham
Shui Po and Aberdeen, respectively. The discount will cease to apply from next
Saturday. A Citybus spokeswoman said the fare concession was being scrapped
because it had largely been funded by the KCRC's subsidy. KMB offers similar
discounts on some routes to passengers who interchange with KCR services. A
Kowloon Motor Bus spokesman said it had no plans to cancel these concessions. A
KCRC spokesman said it had taken many factors into account in deciding whether
or not to continue the promotional fare, including the benefits to passengers
and the company. With the KCRC days away from ending its role as a train
operator, it yesterday launched a book, A Century of Commitment - the KCRC
Story. Speaking at its launch, KCRC chief executive officer James Blake said:
"The book gives a fascinating account of the history of the KCR over nearly a
century, detailing the successes it has achieved, the network it has expanded
and the historic moments it has participated in." A selection of pictures from
the book is on display at East Tsim Sha Tsui station. The government-owned
corporation has also donated more than 70 items of historical interest to the
Railway Museum at Tai Po. They include a sketch of the steel bridge at Lo Wu
drawn in 1909; a plaque from the KCR British Section head office, which hung in
the old Tsim Sha Tsui terminus from 1916 to 1975; and staff rule books from 1946
and 1977. It is also selling souvenirs, with proceeds to go to the Community
Chest charity. The sale will take place at East Tsim Sha Tsui station today and
tomorrow from midday to 6pm.
"These ratings actions reflect the
Standard & Poor's assessment that the banks' efforts to build up their financial
positions, corporate risk cultures, risk management capabilities, and business
profiles are starting to pay off, albeit to slightly different degrees," said
Liao Qiang, a Standard & Poor's credit analyst.
The 2007 MTV Style
Gala hit the Shanghai Grand Stage on Friday, gathering together some of the
biggest names in entertainment, including American socialite Paris Hilton, Vicky
Zhao, Li Bingbing and Nicholas Tse.
Casinos in Taiwan may generate US$3
billion (HK$23.4 billion) in total annual revenue should the island legislate to
legalize the industry, according to Las Vegas-based industry magnate Larry
Woolf, who manages 13 casinos in North America. 
Chinese President Hu Jintao (R) meets with Chief Executive Donald Tsang of Hong
Kong Special Administrative Region (HKSAR) in Beijing, Nov. 23, 2007. The
central government will continue to unswervingly uphold the principles of "one
country, two systems" and the Basic Law of the HKSAR, and "give all-out support"
for the HKSAR Chief Executive and the HKSAR government in governance according
to law.
Chinese Premier Wen Jiabao (R) meets with Edmund Ho Hau Wah, chief executive of
the Macao Special Administrative Region (MSAR), in Beijing, Nov. 23, 2007. "The
central government will fully support the Macao SAR government and its chief
executive to administer the region in line with the law and to realize the
greater development of Macao," said Wen at the meeting. 
Disney
characters Mickey and Minnie Mouses wave during a parade at HK Disneyland, Nov.
22, 2007. The Disney's Sparkling Christmas kicked off on Thursday.
A section of
a covered road that crosses over the Beijing Zoo is illuminated at night in
Beijing, November 21, 2007. One thousand meters long, it is the first enclosed
stretch of road in the capital, and was built with insulating materials to
minimize traffic noise to the zoo animals.
Photo
taken on Nov. 21, 2007, shows the exterior of the main building of the third
terminal of Beijing Capital International Airport. The building, which covers a
building area of around 580,000 square meters and passed a four-party acceptance
check on Wednesday, is aimed at meeting rapidly increasing air demands for the
coming Olympics in 2008.
Beijing's hutongs are
known for their winding narrow paths and houses. With their delicately carved
tiles, big red doors and stone lions, these unique buildings contain stories of
many generations. But there's also some wonderful smells emanating from these
hutongs. You can find some cozy eateries that may not be luxurious, but the food
is irresistible. Some of them offer tasty vegetarian dishes, others feature
delicious household dishes.
Commuters will save up to HK$8.20 a trip
from Sunday week when the MTRC and KCRC officially merge. Under the
fare-reduction scheme announced yesterday, some commuters will enjoy half fare
travel due to the removal of second-charge gates at the interchange stations in
Tsim Sha Tsui and Kowloon Tong. MTR marketing and station business general
manager Jeny Yeung Mei- chun said an estimated 2.8 million passengers will pay
less every day, with half of these enjoying fare cuts of at least 5 percent.
About 130,000 passengers will enjoy fare cuts of 10 percent or more.
(AmCham Shanghai) Manufacturers Learn
How to Stay Competitive - With concerns looming that China is increasingly
becoming a less competitive manufacturing environment, nearly 200 participants
gathered to understand manufacturing competitiveness issues and solutions at the
2007 Manufacturers' Business Council Conference. China manufacturers need to
take steps to ensure their competitiveness against competition from countries
like Vietnam, India, Brazil and Thailand, said T.T. Chen, chair of the AmCham
Shanghai Manufacturers' Business Council, to open the conference. More than 20
speakers and panelists provided the audience with ideas and insights on
maintaining competitiveness, covering issues such as cost pressures, quality,
productivity, profitability, lean manufacturing, taxes, investment and 6-Sigma.
In the keynote speech, Christopher Bliss, principal at management consulting
firm Booz Allen Hamilton (BAH), reiterated the theme of the conference, noting
that many countries are ready to compete with China. ¡°We are seeing the end of
easy manufacturing in China,¡± he said. Citing the key results and findings from
a soon-to-be-released study jointly conducted by AmCham Shanghai and BAH, Bliss
encouraged manufacturers to first focus on understanding the role of China in a
company's global supply chain, then focusing on achieving operational excellence
in the areas of procurement, shop-floor operations, inbound and outbound
logistics, and systems and information flows. 
U.S. celebrity
Paris Hilton holds toy pandas while visiting Yu Yuan Garden in Shanghai November
21, 2007. Hilton is in Shanghai to attend 2007 MTV Awards on Friday
European businesses are still performing quite well in China despite
increasingly stiff competition and Beijing's failure to improve the regulatory
environment, a business group said yesterday. The European Chamber of Commerce
in China, releasing its annual business confidence survey, said 72 percent of
respondents were either making a profit or breaking even. But European firms
continue to face hurdles including a lack of government transparency,
insufficient protection of intellectual property rights and excessive red tape,
the organization said, reflecting some of the issues likely to be on the agenda
at a European Union-China summit in Beijing next week. "The investment climate
is unfortunately not changing much, not getting better. We see exactly the same
obstacles as in the last survey," said Joerg Wuttke, president of the chamber. A
host of EU officials will visit Beijing next week to discuss economic and trade
issues with their mainland counterparts, including the value of the yuan, which
they say is artificially weak against the euro. The EU, faced with a growing
trade deficit with China, has become increasingly tough in its stance. European
businesses want Beijing to improve its legal system, Wuttke said, for instance
by creating more professional courts to handle IPR cases. Firms had also
expressed concern that Beijing was actively trying to avoid some of its World
Trade Organization commitments and that it could use its recently adopted
anti-monopoly law to extend protection to state-owned monopolies, Wuttke said.
He singled out oil refining and distribution as sectors that were benefiting
from preferential treatment.
Chief
Executive Donald Tsang Yam- kuen yesterday sought more details on the investment
"through train" during a closed-door meeting with People's Bank of China deputy
governor Wu Xiaoling. According to a close aide to Tsang, Wu reiterated what
Premier Wen Jiabao had said in Singapore, about prudence and timing, without
elaborating. Tsang's meeting with Wu came only hours after the Hong Kong leader
had arrived in Beijing on a three-day visit, during which he is to make the
first report of his new term to central government leaders. According to the
aide, Tsang told Wu, that Hong Kong would fully comply with national policy with
regard to cross-border investment. Tsang also called on the China Insurance
Regulatory Commission chairman Wu Dingfu yesterday, during which he invited
mainland insurers to set up branches as Ping An Insurance had done. Tsang also
told the insurance regulator more talent nurturing exchange programs should be
initiated to groom young mainland and Hong Kong insurance professionals. The
newly appointed head of the Hong Kong and Macau Affairs Working Committee, and
sixth-ranked Politburo member, Xi Jinping will hold his first working meeting
and dinner with Tsang today. Tsang is scheduled to meet President Hu Jintao and
Premier Wen tomorrow. Accompanied by his wife Selina and Chief Executive Office
director Norman Chan Tak-lam, Tsang arrived in Beijing in the morning yesterday,
and was was received by Hong Kong and Macau Affairs Office deputy director Chen
Zuo'er at Beijing airport. In the afternoon, Tsang visited a warehouse which has
been turned into the "789 Creative Zone" in Beijing, to understand whether such
a concept is feasible in Hong Kong. Tsang also called on incumbent Beijing mayor
Wang Qishan, who is set to be named a vice premier in March. Wang said
Beijing-Hong Kong ties and cooperation could be further improved as Shanghai,
Beijing and, hopefully Guangzhou and Qingdao, could soon follow Hong Kong in
becoming international metropolitan cities. Wang praised the successful three-
day equestrian trials in Hong Kong in August, and said he was confident Hong
Kong was the right choice for the Olympic equestrian events. Tsang also asked
Wang to consider sending a second batch of national treasures to Hong Kong as
the first exhibition in the city proved a tremendous success. Tsang will today,
meet representatives of the National Development and Reform Commission, the
General Administration of Press and Publication and China Investment
Corporation, the sovereign wealth fund. Tomorrow, he will call on Minister for
Foreign Affairs Yang Jiechi in addition to the top leaders. After winding up his
trip to Beijing, Tsang will fly to Guangzhou on Friday night to meet with
Guangdong provincial party Secretary Zhang Dejiang and Guangdong provincial
governor Huang Huahua. 
The main Chinese Antarctic support vessel, "Xue Long," enters the genesis region
of cyclones, in the northwestern Pacific, to the east of the Philippines, on
November 18. The vessel is expected to reach the Equator on November 18; and
then the Port of Fremantle, in Australia, on November 21.
Crowds of job hunters flock to a job
fair in Nanjing, East China’s Jiangsu Province, November 20, 2007. Nearly 50,000
college graduates participated in the event. The job fair was the first of a
series of recruitment events for the 427,000 students who would graduate next
year in the province. Nearly 50,000 graduates participated in the event.
A Chinese naval ship left
Zhanjiang Wednesday for a port call to Japan, the first such visit in the
history of the naval forces of the Chinese People's Liberation Army.