NASDAQ-listed mobile game company China Mobile Games and Entertainment Group (CMGE) says the National Council for Social Security Fund (NSSF) will acquire 1.04 million American Depositary Shares (ADSs) of the company at $14.50 apiece with an total investment of $15 million. According to a company regulatory filing, CMGE plans to sell 1.13 million ADSs. In […]

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Beijing-based mobile app analytical platform Umeng says the company has been acquired by Alibaba Group. Umeng will continue to operate as an independent entity after the acquisition. The price of the acquisition was not disclosed. Umeng received angel funding from Innovation Works in 2010 and "tens of millions of U.S. dollars" series A funding led […]

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The author is Standard Chartered's head of macroeconomics, John Calverley Three years ago we argued that the world may be in the midst of a third economic "super-cycle", comparable with the periods 1870-1913 and 1946-73, which also saw unusually rapid world economic development. In this report, we review our long-term forecasts to see if the […]

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The author is Nomura economist Zhiwei Zhang According to the Chinese media, Chinese central bank governor Zhou Xiaochuan highlighted the following financial reforms in an article on the Guidance Book for the Third Plenum. 1, RMB exchange rate reform. The People's Bank of China (PBoC) will enlarge the RMB exchange rate daily trading band in […]

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The author is Nomura economist Zhiwei Zhang According to the Chinese media, Chinese central bank governor Zhou Xiaochuan highlighted the following financial reforms in an article on the Guidance Book for the Third Plenum. 1, RMB exchange rate reform. The People's Bank of China (PBoC) will enlarge the RMB exchange rate daily trading band in […]

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.

The Treasury has issued an alert on fraudulent emails. 

The messages were sent from the email account [email protected], and have a document attached containing computer viruses.

The Treasury said it has no connection with the emails, and has reported the case to Police.

The Immigration Department will work to shorten passenger clearance times and alleviate pressure on frontline staff, says Secretary for Security TK Lai.

Mr Lai told lawmakers today the Administration will consider the need for additional staffing under existing procedures, as new control points will start operating in the coming years.

To cope with passenger increases, he said, the department will improve existing control point facilities, deploy manpower flexibly, streamline workflows, and take advantage of information technology to reduce clearance time.

The Frequent Visitor e-Channel service and non-stamping arrangement for visitors have shown positive results, he said, and the Government will monitor these measures’ effectiveness and consider the need for manpower and other resources.

Mr Lai said the department values staff leave, and will arrange for it provided public service operational needs are met.

Secretary for Security TK Lai said he hoped to achieve further progress in the Manila hostage incident talks, after a positive discussion with the Philippine Government's Cabinet Secretary yesterday.

Speaking to the media today, Mr Lai said the donation given to Yik Siu-ling was to meet her urgent medical needs, and was made without prejudice to the victims' and their family members' four demands.

Both sides will continue to work towards a satisfactory solution, he added, which he believes is also Hong Kong society's common wish.

Customs officers and the Marine Police have seized 350 live monitor lizards and a lorry worth $420,000 in Tuen Mun.

The officers found six suspicious men loading goods from a lorry onto a speedboat near Wu Shan Road, Tuen Mun at about 1.30am today.

The suspects fled on the speedboat, and officers seized the lorry and 48 wooden boxes containing the lizards.

Complaints against illicit cigarettes dropped 34% compared to last year due to the Customs & Excise Department's stepped-up efforts, says Secretary for Financial Services & the Treasury Prof KC Chan.

In response to a legislator’s question today, he said the department aims to combat illicit cigarettes at source, to reduce their inflow into the city and safeguard Government revenue.

Customs seized $110 million worth of illicit cigarettes in 2012, up from $57 million in 2010, he noted, and said such activities appear to have become less rampant.

Illicit cigarette trading black spots have been largely suppressed, he said, as the department continues to combat storage, distribution and selling. 

Customs has established a 26-officer unit to conduct intelligence analysis and enforcement action against illicit cigarettes' telephone and online sales, he said, and the department also conducts random checks at control points.

He added the department will continue to conduct publicity programmes and campaigns against illicit cigarette trading.

The author is ANZ head of global markets research Richard Yetsenga China's third plenum meeting brought out reform measures that are unprecedented and well above market expectations. On financial sector reforms, we think that interest rate reforms could include liberalization of deposit rates, which need to be higher given that real interest rates are now […]

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.

The author is ANZ head of global markets research Richard Yetsenga China's third plenum meeting brought out reform measures that are unprecedented and well above market expectations. On financial sector reforms, we think that interest rate reforms could include liberalization of deposit rates, which need to be higher given that real interest rates are now […]

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.

During the third quarter, Beijing’s average retail rent remained stable, while the vacancy rate slightly dropped. In Shanghai, the vacancy rate of prime shopping malls showed little change. Due to notable amount of new supply, the occupancy rate slightly dipped to 91.2%, according to the latest Greater China property market report released by Knight Frank. […]

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.

During the third quarter, Beijing’s average retail rent remained stable, while the vacancy rate slightly dropped. In Shanghai, the vacancy rate of prime shopping malls showed little change. Due to notable amount of new supply, the occupancy rate slightly dipped to 91.2%, according to the latest Greater China property market report released by Knight Frank. […]

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.

Hong Kong-based conglomerate Nan Fung Group says that Anthony Leung, chairman for Greater China for the Blackstone Group, will become its chief executive officer, effective in February 2014. Leung will remain a senior adviser to Blackstone and also a member on its international advisory board. "I am delighted that (Anthony) will continue as an advisor […]

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.

Hong Kong-based conglomerate Nan Fung Group says that Anthony Leung, chairman for Greater China for the Blackstone Group, will become its chief executive officer, effective in February 2014. Leung will remain a senior adviser to Blackstone and also a member on its international advisory board. "I am delighted that (Anthony) will continue as an advisor […]

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.