Ripped from the Headlines: Hong Kong News Today

Tai Po in New Territories

Residents in Tai Po are protesting approvals to build on undeveloped land. The sites had been used as illegal dumping grounds for construction waste. Residents say the rezoning from agriculture to apartments only encourages unscrupulous developers from “trashing” other sites int he hopes of claiming them for development. This and more are making headlines in Hong Kong today.

 

SCMP

 

l   HK: Meeting budget deadline impossible, Tsang warns

-Budget bill could not be passed by Wednesday even if the filibuster ended

 

l   HK: Advisers make U-turn on legal aid

-Council says there is no need for an independent authority

 

l   HK: Shadow banking extends to HK firms

Mainland bosses, unable to secure loans from banks at home, turn to Hong Kong brokers, agree to pay high rates of interest

 

l   China: Graft-busters investigate top planning official

-Deputy Director of the NDRC Liu Tienan investigated for fraud and impropriety

 

l   China: Bureau ordered to stop compiling list of petitioners

-Officials put an end to a system of ranking grievances that led to illegal detentions

 

Sing Tao

 

l   Environmental groups oppose plan by developer to build on Tai Po agricultural land

 

l   John Tsang criticizes those responsible for the filibuster

-Warns of funding shortfall starting from next month

 

l   LegCo to hear plan to abolish 68 appointed district council seats in 2016

-Number of democratically elected seats to only rise by 11, opposition expected among the districts

 

Caixin

 

l   Institutions predict that liquidity will be tighter in the second half

 

l   Prominent economist Wu Jinglian warns that economy may come off its rails without more reform

Warns of danger of two opposing systems [reforms and continued state direction]

 

l   NDRC’s Liu Tienan investigated for illegal behavior

 

 

 

Xinhua

 

l   NDRC’s Liu Tienan is under investigation for serious illegal behavior

 

l   Analysts believe that CSRC wished to send a strong signal by subjecting Ping An to a heavy fine

 

l   NDRC and Ministry of Industry and Information Technology will soon send written version of a plan to resolve overcapacity in Chinese industries to the State Council

 

l   IPOs may be restarted in the third quarter, later than expected

 

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