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The upward trend in China's HSBC purchasing managers' index (PMI) number is likely to continue in the coming months. It may gradually move to the range of 49 to 50 in the next few months, says Bank of America Merrill Lynch in a research report. The China HSBC flash PMI recovered slightly to 48.3 in […]

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Global property consultancy firm Knight Frank says it has established a long-term strategic partnership with Taiwan's real estate brokerage firm REPro International, according to a Knight Frank announcement. The two parties will work together on serving Taiwan real estate clients locally, as well as serving Taiwan clients who are making outbound investments. "Establishing our footprint […]

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The author is Nomura economist Zhang Zhiwei The HSBC flash PMI rose to 48.3 in April from a final reading of 48.0 in March. It is inline with consensus of 48.3, and higher than our forecast of 47.8. The number came in contrast with the China MNI business sentiment index, which fell to 51.1 from […]

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CITIC Capital Holdings Limited and international shopping center operator Sonae Sierra says they have launched a joint venture to provide management and leasing services to shopping centers in China, according to a company announcement. The specific investment of the joint venture was not disclosed. Headquartered in Shanghai, the joint venture will focus on adding long-term […]

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The author is Standard & Poor's Ratings Services Revenue prospects will be increasingly gloomy for China's department stores over the next 12 to 24 months. Slower sales growth and intensifying competition have already tightened the profitability of major retailers, which include Parkson Retail Group Ltd., Golden Eagle Retail Group Ltd., Intime Retail (Group) Co. Ltd., […]

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The network security safeguard team of the Beijing Municipal Public Security Bureau and the Chinese Internet security company Qihoo 360 jointly announced they will establish a network security anti-fraud initiative. The initiative's official website at Fanzhapian.360.cn has officially started operation. Meanwhile, Ye Manqing, director of the network security safeguard team, announced that with the approval […]

The Security Bureau today lowered the black Outbound Travel Alert for the Philippines to amber.

 

It reminded Hong Kong residents planning to visit the country, or already there, to monitor the situation, exercise caution and watch their personal safety.

 

The bureau will closely monitor the situation in the country and issue updates through the media and the travel alert website.

 

Hong Kong people travelling abroad can call the Immigration Department's hotline, (852) 1868.

The HSBC Flash China Manufacturing Purchasing Managers’ Index (PMI) came in at 48.3 in April, up from 48.0 in March. This is a Two-month high. "Domestic demand showed mild improvement and deflationary pressures eased, but downside risks to growth are still evident as both new export orders and employment contracted," says Hongbin Qu, chief China […]

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Beijing-based Chinese security software maker Cheetah Mobile Inc. has filed with the U.S. securities regulator to raise as much as US$300 million in an initial public offering on the New York Stock Exchange. Specific pricing terms have not been determined. Cheetah Mobile, formerly known as Kingsoft Internet Software Holdings Limited, initially filed its F-1 form […]

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Beijing-based Chinese security software maker Cheetah Mobile Inc. has filed with the U.S. securities regulator to raise as much as US$300 million in an initial public offering on the New York Stock Exchange. Specific pricing terms have not been determined. Cheetah Mobile, formerly known as Kingsoft Internet Software Holdings Limited, initially filed its F-1 form […]

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The author is China International Capital Corporation (CICC) Research Department After the cooperation with Alibaba and huge capital injections, Intime is expected to have more action in the O2O (online-to-offline) arena, which could bring new triggers for the stock price. Intime's Yintaibao is just the beginning, more mobile internet applications based on O2O will be […]

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The author is China International Capital Corporation (CICC) Research Department After the cooperation with Alibaba and huge capital injections, Intime is expected to have more action in the O2O (online-to-offline) arena, which could bring new triggers for the stock price. Intime's Yintaibao is just the beginning, more mobile internet applications based on O2O will be […]

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The author is Tian X. Hou, founder and CEO of Chinese equity research firm T.H. Capital Baidu, Inc. will report first quarter results on April 24th after the market close. We believe its results are highly likely to come in better than consensus expectations, mainly driven by its mobile business and other non-traditional search businesses […]

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Beijing-based Chinese mobile game developer Chukong Technologies has filed on April 18 with the U.S. securities regulator to raise up to US$150 million in an IPO on the NASDAQ. Specific pricing terms were not disclosed. According to its F-1 form, Northern Light Venture Capital owns 23.7% of the company. Steamboat Ventures owns 12.6%. GGV Capital […]

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Beijing-based Chinese IT services provider iSoftStone Holdings Limited says it has entered into a definitive agreement, in which its chairman and CEO Liu Tianwen, together with China Everbright Investment Management Limited, will take the company private, according to a company announcement. The buyer consortium will acquire New York Stock Exchange-listed iSoftStone for US$5.70 per American […]

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The author is ANZ greater China chief economist Liu Li-Gang China's central bank announced this afternoon that it will reduce the reserve requirement ratio (RRR) for some rural commercial banks, effective from this Friday. The reserve requirement ratio for rural commercial banks at county levels will be cut by 2 percentage points while the rate […]

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The author is Fitch Ratings Inc. The financial product to be issued by China's CITIC Securities, backed by rental income from two office buildings, is more similar to asset-backed securities (ABS) than a real estate investment trust (REIT). Media reports recently say that CITIC Securities is ready to issue the first REIT in China. But […]

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The Schwarzman Scholars program says it has raised US$275 million one year after the announcement of the program, and it is increasing its fundraising target to US$350 million from its previous goal of US$300 million, according to an announcement. The program is a US$300 million scholarship program inspired by the Rhodes Scholarship, an international graduate […]

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China Orient Asset Management Corporation, one of the four bad debt banks in China, plans to launch a US$1 billion joint venture fund to invest in distressed real estate assets in China. The joint venture fund, named China Orient Summit Capital, is 80% owned by China Orient Asset Management (International) Holding Limited (COAMCI), a wholly-owned […]

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Hong Kong-based property firm Great Eagle Holdings Limited says it has signed an agreement with China Orient Asset Management Corporation to establish a close-end fund targeting at investment in office properties in the U.S., according to a company announcement. China Orient Asset Management, through its wholly owned subsidiary China Orient Asset Management (International) Holding Limited […]

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The Monetary Authority has issued an alert on fraudulent website www.iwinghbhk.com, which purports to be Wing Hang Bank's official site.

 

The bank has clarified it has no connection with the fraudulent website.

 

Anyone who has provided personal information to the site or conducted financial transactions through it should contact the bank on 3199 9188, or Police at 2860 5012.