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Hong Kong to focus on poverty and income inequality, Mainland and ASEAN ties

January 15, 2014

HONG KONG – In his second Policy Address as Chief Executive of Hong Kong, C Y Leung has focussed on longer-term issues of tackling poverty and housing challenges. He announced plans to raise the supply of private housing units by 40% in the next five years. A low-income working family allowance has also been proposed.

Deutsche Bank economist says China GDP to grow 8.6% in 2014

January 15, 2014

BEIJING - Ma Jun, Deutsche Bank's chief China economist, says China GDP is likely to grow by 8.6% this year, in contrast to a number of financial institutions predicting a growth fall to around 7.5%.  He believes a pick-up in recovering US and European economies will drive exports dramatically, while excess capacities in China’s struggling industries like solar, cement and shipping are being eased.

China’s December exports up 4.3%, trade surplus at RMB 1.61 trillion

January 13, 2014

BEIJING – China’s exports grew 7.9% in 2013 while imports expanded 7.3% from a year ago, resulting in a trade surplus growth of 12.8%, according to data released by the Generl Administration of Customs. The trade surplus for the year hit RMB1.61 trillion, with exports at RMB 13.72 trillion and imports at RMB12.11 trillion. Total foreign trade including both exports and imports has for the first time exceeded US$4 trillion.

Meat pumped with pond water in Guangdong

January 8, 2014

GUANGZHOU – Chinese authorities have held seven people in southern Guangdong province on charges of injecting dirty pond water into lamb meat to swell its weight and raise its price. Those charged allegedly slaughtered up to 100 sheep per day at an illegal warehouse, pumping bacteria-ridden water into the meat before it was sold at markets, food stalls and restaurants in major cities such as Guangzhou and Foshan.

Positive changes in credit risk in North America and Asia - Coface

January 8, 2014

PARIS - In Asia and North America, dynamic private demand continues to improve sector risks, says credit risk insurer Coface in its Quarterly report.In North America, automobile and retail risks have eased from ‘medium' to ‘moderate’ on a positive trend in household consumption, Coface says, with the car industry seeing new car sales return to pre-crisis levels, boosted by renewal requirements. In parallel, carmakers' cash flows have increased 19% over the last year.

‘Building peace by making North Korea pay dearly for aggressive acts’

January 8, 2014

SEOUL – South Korea’s President, Park Geun-hye, in an English-language article, "Reinventing the Inter-Korean Relationship", says her Administration will maintain strong deterrence and will co-operate closely with the international community to pursue peace and unification on the Korean Peninsula. She said that her Administration's Korean Peninsula trust-building process is based on the strength of formidable deterrence.