Rolling towards 1997

Article Abstract:

Hong Kong should see a revival in economic growth according to government data. The government had forecast 5% economic growth for 1996 and has revised this downwards to 4.7%, while NatWest Securities' Charles Li forecasts 4.1%. This still represents an improvement on 3.5% for 1st half 1996. Unemployment rose to 3% in early 1995 with weaker demand than expected from the US and some manufacturing being relocated to China. The real estate market is recovering as is the construction industry, while consumer spending is starting to revive.

Economic aspects, Economic forecasting

---

Slippery slope: Beijing detains Chinese manager for Shell

Article Abstract:

Beijing police have detained two senior managers working on a $6 billion joint-venture refinery, apparently charging Shell China's government liaison with obtaining state secrets regarding financing and environmental approvals. Her counterpart at China National Offshore Oil is accused of having illegal income, likely meaning acceptance of bribes. The two were detained after a Feb 1996 meeting with the State Planning Commission head. The project, considered a showpiece for the industry, is still expected to go ahead.

Planning, Officials and employees, Investigations, Bribery, Petroleum refineries, China National Offshore Oil Corp., Shell China Petroleum Development BV

---

Give them an inch...

Article Abstract:

Hong Kong interest groups and political parties point to huge govt reserves and a stumbling economy in calling for further cuts in already generous income-tax rates. In 1993 the Financial Secretary cut the corporate tax rate from 17.5% to 16.5% and introduced broad personal exemptions. The govt has seemed receptive to calls for more exemptions and a 15% corporate rate, matching the top individual rate. The colony is likely to deliver HK$300 billion to China on takeover in 1997, so Beijing should not oppose cuts.

Income tax, Tax policy

Similar abstracts:

• Abstracts: Accommodating change: Beijing's Friendship Hotel trades character for cash. Boom and busted: Shanghai construction takes off, but profits may fizzle
• Abstracts: Accommodating change: Beijing's Friendship Hotel trades character for cash. part 2 Jaded: new record set at spring auction
• Abstracts: Witness to horror: Shanghai orphanage doctor tells what she saw. A dying art: China's new economic plan raises questions
• Abstracts: Bulgaria sells MDK copper smelter. High summer of activity in Bulgaria. Bulgaria outlines rules
• Abstracts: Staying in the game: tobacco firms in China live with sponsorship limits. Honour thy chaebol: South Korea's in-house ad firms feel owners' wrath

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.