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.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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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.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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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.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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