Ripped from the Headlines: Hong Kong News Today

We haven’t seen the sun in three weeks or more. It’s that time of year in Hong Kong. So while it’s dismal and grey we read newspapers. Here’s what they have to say today!

SCMP

l   HK: Martin Lee in U-turn over Chief Executive poll reform

-Apologizes to his supporters as he withdraws controversial proposal

 

l   HK: Contractors offer 7 percent pay rise

-Talks break down on day two after two employers fail to come close to strikers’ demands

 

l   HK: Operators call for review of 3G spectrum plan

-HK’s biggest network firm says government has not done its homework

 

l   China: Trial looms in Sichuan quake bribes scandal

 

l   China: Air quality in Beijing is second-worst of 31 cities

 

l   China: Mainland lenders pump up fund flow

-Boost to country’s money supply brightens outlook for economy but poses dilemma for Beijing as inflation threatens to rise

 

Sing Tao

 

l   Secret police documents leak out in what is suspected as an attempt to frame a rising star

-Documents thrown into an animal waste bin

 

l   New building completions expected to be 13,500 this year, highest in seven years

 

l   Contractors’ 5+2 plan is rejected in labor dispute

 

HKEJ

 

l   New building completions expected to be 15,000 next year, 13,500 this year

 

l   China Securities International Finance Holding Limited gets license for HK IPO

 

Caixin

 

l   Galaxy Securities completes IPO hearing in HK, plans to list before end of June

 

l   Three oil companies, and four other SOEs will soon undergo investigations for revenue collection purposes

 

l   Deutsche Bank thinks Japan’s looser policies will benefit China

 

l   HK’s SFC censures and fines Everbright Securities over lack of internal controls

 

Xinhua

 

l   For officials, parks become places to eat and drink on the public dime

 

l   Xi inspects the navy in Sanya, tells them to prepare for a struggle

 

l   Average Chinese household to hold 1.08 houses by 2015

 

l   Ministry of Industry and Information Technology: wireless internet cards to be brought into the real-name registration system

 

l   Beijing and Shanghai land plots sell at a high premium, potentially affecting house prices

 

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