Nomura says the macro economic risks in China remain high, and there is a one-in-three likelihood of a hard economic landing, according to the bank's latest research reports. In November 2011, Nomura predicted a hard landing, also a one-in-three chance…
2013-07-31
Overall crime fell 4% in the first half of the year.
Police Director of Crime & Security Lo Wai-chung said today 36,068 crime cases were recorded during the six-month period.
There were 6,074 violent crimes, down 5.9% year-on-year.
Decreases were seen in miscellaneous theft (-6.3%), burglary (-19.5%), criminal damage (-10.7%), and wounding and serious assault (-8.6%) cases.
Mr Lo said crimes recording increases included deception (+10 %), blackmail (+62.3%), and indecent assault (+7.2%).
There were 53 homicide cases, a 2.5-fold increase on last year’s figure, due to the Lamma Island ferry tragedy last October in which 39 died. The two captains involved have been charged with manslaughter. Excluding that incident, the figure was similar to last year.
Serious drug cases rose 2.4% year-on-year to 1,086. Cases involving 'ice', cocaine and cannabis were rising. However, those involving heroin and ketamine decreased.
Seizures of heroin, ice and cocaine rose.
A total of 2,866 juveniles were arrested, down 17.2% year-on-year. Most of them were arrested for assault, theft, and drug and gang offences.
Mr Lo said Police will monitor crime trends closely and combat those crimes on the rise.
2013-07-31
There were 7,649 traffic accidents in the first six months of the year, down by 191 compared to the same period last year.
Police Director of Operations Wong Chi-hung told reporters today traffic enforcement actions were stepped up by 9% during the period, totalling 792,926, while the number of fatal traffic accidents decreased by five to 50.
There were 106 arrests from drink driving related accidents, compared to 117 in the same period last year.
Pre-screening tests increased from 59,791 to 79,049, up 32%, and 17 drivers were arrested for drug-driving offences, down 41%.
There were 1,206 cycling-related accidents, up 3%. The number of fatalities involving cycling increased by two to five.
Mr Wong said Police will continue to enhance road safety through enforcement, education and publicity.
2013-07-31
The author is Standard Chartered Bank global research department – Liberalising loan rates will change the loan-pricing mechanism, not loan rates – SHIBOR (Shanghai Interbank Offered Rate)-based loans could gradually increase and lead to an increase in…
2013-07-30
Director of Immigration Chan Kwok-ki has signed a deal with South Korea on the use of automated clearance services, marking a new milestone in immigration co-operation between Hong Kong and the country.
He signed the Memorandum of Understanding with Commissioner of the Korea Immigration Service Jeong Dong-min today.
It is the first MOU Hong Kong has signed on the use of automated clearance service on a mutual basis with a foreign country.
The move will provide greater travel convenience for Hong Kong Special Administrative Region and South Korean passport holders, and enhance trade, business and tourism links between Hong Kong and Korea, the department said.
The service will be implemented by year's-end.
2013-07-30
Beijing-based Baifendian Information Technology Co. says it has secured $10 million series B financing from IDG Capital and East Sky Investment Co. Ltd. The company says it will also expand its business to big data management and application. Founded i…
2013-07-30
Guangzhou-based China Mobile Games and Entertainment Group Ltd. says it has signed an agreement with two private equity firms to receive a $25 million investment, according to a company announcement. The two private equity firms are Zennon Capital Part…
2013-07-30
Guangzhou-based China Mobile Games and Entertainment Group Ltd. says it has signed an agreement with two private equity firms to receive a $25 million investment, according to a company announcement. The two private equity firms are Zennon Capital Part…
2013-07-29
Centennial, Colorado-based Ciris Energy says it has completed $25 million series C financing with the backing from private equity firm Asia Pacific Capital, according to a company announcement. No further details of the investment are disclosed. Founde…
2013-07-29
The author is David Carbon, chief economist at DBS Bank • Relative to incomes, however, prices are falling steadily in most Asian countries. Housing is becoming more affordable, not more expensive • Hong Kong is the key exception to this rule. Property prices relative to income have risen by nearly 80% since 2000. This raises […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-07-29
A 56-year-old man was reportedly knocked down and killed by a van in Ma Tau Kok this afternoon.
The van, driven by a 43-year-old man, reportedly struck the victim as it entered a waste recycling yard on Sung Wong Toi Road at about 3.45pm.
The man, who worked in the yard, was sent to Kwong Wah Hospital and died at 4.24pm.
Witnesses should call Police on 2305 7500.
2013-07-29
Customs officers yesterday arrested two outgoing passengers at the airport for drug trafficking after they found 14.5kg of methamphetamine worth about $10.9 million in their three suitcases.
The two women, aged 27 and 31, were leaving for Clark, the Philippines. They claimed to be a logistics worker and an accounting clerk.
The drug was concealed in false compartments in the suitcases.
The maximum penalty for the offence is life imprisonment and a $5 million fine.
2013-07-29
Shanghai Greenland Group Co. says it has signed an agreement to acquire a stake in a downtown Los Angeles real estate project from California State Teachers’ Retirement System (CalSTRS). The Shanghai-based property developer is planning to invest $1 billion into the project, according to a company statement. It is the biggest acquisition in terms of […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-07-28
The Prosecutions Division will handle cases as a team and in accordance with the law and established prosecution policies, says Secretary for Justice Rimsky Yuen.
Speaking to the media today regarding complaints made to the ICAC against Secretary for Development Paul Chan, Mr Yuen said he has delegated authority for handling the matter to the Director of Public Prosecutions.
Prosecution work will not be affected by any personnel changes, he said, and all cases will be given fair and just treatment.
“I can ensure all of you that all these cases, whether involving government officials or people outside the government, irrespective of their status, they will be handled strictly in accordance with our established prosecution policies,” he said.
2013-07-28
About 1,600 applications were received today during Police Recruitment Day.
The event at Police Headquarters provided a one-stop service to applicants for the posts of Probationary Inspector and Recruit Police Constable, including initial screenings, scheduling for written examinations and group interviews.
Four experience-sharing sessions gave applicants general information on the selection process and helped them to understand the challenges of police work.
The recruitment target for next year is about 1,200 officers, including over 200 Probationary Inspectors and 990 Recruit Police Constables. So far, 45 Probationary Inspectors and 390 Recruit Police Constables have been recruited.
2013-07-28
Police today charged a 38-year-old man with three counts of murder.
The man was arrested in Chai Wan on July 26 in suspected connection with a case in which a 34-year-old woman and her two children aged 8 and 9 were killed in a unit in Oi Yuk House of Oi Tung Estate.
The man was found lying unconsciously on the bed at the scene.
The case will be heard at Eastern Magistrates' Courts in his absence tomorrow.
2013-07-27
Beijing-based China Investment Corp. says it has achieved annualized return of 10.6% for overseas investments in 2012. Through year-end 2012, its cumulative annualized return since inception in 2007 was 5.02%, according to its latest annual report. Las…
2013-07-27
Mark Cohen is looking for you! Mark is a Chinese IP law expert now (back) at the US PTO, and recently circulated the following message on the Chinalaw list. With his permission I'm re-posting it here. I hope all in…
2013-07-26
HSBC Global Asset Management says it has been granted RQFII status by the China Securities Regulatory Commission (CSRC). RQFII refers to RMB Qualified Foreign Institutional Investors, a program that allows qualified foreign institutions to invest offshore RMB back into Mainland China’s capital market. According to a list of RQFIIs published by the CSRC earlier this […]
Visit ChinaMoneyNetwork.com for more great China Money Podcast audio and video Internet episodes covering important investment news and financial events in China, as well as daily news updates on important China business news happenings. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
2013-07-26
Police arrested a 38-year-old man today in connection with a murder and attempted suicide case in Chai Wan in which a 34-year-old woman, an eight-year-old boy and a nine-year-old girl died.
Police received reports around noon of a gas leakage from a unit in Oi Tung Estate. Officers and firemen found the man lying unconscious on a bed with injuries to his wrist, and sent him to Pamela Youde Nethersole Eastern Hospital.
They also found the woman and children lying unconscious on the floor. She had cuts to the neck, and the children are believed to have been hit on their heads with a hard object. They were certified dead at the scene.
Post-mortem examinations will be conducted to ascertain the causes of death.
Police have seized a hammer and a chopper.
Initial investigations found that the man and woman were lovers. The two children were believed to be their offspring, born on the Mainland.
2013-07-26
Police have arrested a 28-year-old man after the truck he was driving reportedly struck and killed an 82-year-old woman in Kennedy Town.
She was knocked down on Shing Sai Road, near Sai Cheung Street, at about 6am today.
She was sent to Queen Mary Hospital and later died.
Witnesses should call Police on 3106 8848.