Please click on each headline for the latest news on Hong Kong and China:
Hong Kong-Guangdong pact brings co-operation to new heights
A Framework Agreement on Hong Kong-Guangdong co-operation was signed earlier in April in Beijing. The Framework Agreement, which builds on years of close co-operation between Hong Kong and Guangdong Province, is a significant embodiment of the principle of "One Country, Two Systems". It represents a deepening of the co-operation between the two places. It sets clear targets and development positioning for Hong Kong/Guangdong co-operation, and outlines specific polices and measures, including:
- to promote joint socio-economic development in Hong Kong and Guangdong;
- to enhance Hong Kong's position as an international financial centre and expedite the development of financial-services industries in Guangdong;
- to capitalize on the competitiveness of Hong Kong's service industries and Guangdong's manufacturing industries to build an advanced global manufacturing and modern services base;
- to facilitate the flow of key factors such as people, goods, information and capital across the boundary, with a view to building an international aviation, shipping and logistics hub and a world-class modern economic circulation sphere;
- to implement a regional ecology and environment protection regime operating at a leading level by the national standards; and
- to promote collaborative development among Hong Kong and the Pearl River Delta cities to form a world-class metropolis cluster.
To achieve the objectives, Hong Kong and Guangdong have put forward specific policies and measures, and set out major initiatives for 2010.
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Hong Kong Stock Exchange sets sight of listings from South America and Africa
Following the listing of the worldˇ¦s biggest aluminum firm, Rusal, and Mongolian coal miner SouthGobi Energy Resources in Hong Kong earlier this year, the Hong Kong Stock Exchange (HKEx) is looking to attract South American and African companies to list on the Hong Kong bourse.
According to the HKEx Chairman Ronald Arculli, it is part of HKEx's three-year strategic plan to have more international companies to list in Hong Kong and establish the city as an international financial centre. He said mining and resource companies from South America and Africa like Brazil and Nigeria could benefit from proposed improvements in the HKEx rules to make it easier for them to list in Hong Kong. Meanwhile, companies come to list in Hong Kong can tap funds from Asian investors through HKEx, and get closer to the Mainland China and Asian markets, which are the fastest-growing in the world. Since 1993, more than 300 Mainland China firms have listed in Hong Kong, representing 58 per cent of the bourse's market capitalization.
Geoffrey Ma named Hong Kong Chief Justice
Justice Geoffrey Ma will succeed Andrew Li as Chief Justice of the Hong Kong Special Administrative Region Government from September 1. Hong Kong's Chief Executive described Justice Ma as an outstanding lawyer with exceptional judicial, professional and personal qualities, a man of high integrity commanding strong respect within and outside the Judiciary, including the legal profession. Having served with distinction as High Court Chief Judge for nearly seven years, Justice Ma also has proven administrative and leadership qualities.
Mr Justice Ma stated that he is fully conscious of the community's high expectations of the Judiciary and he will do his utmost to ensure that the rule of law and judicial independence are maintained and that the rights and freedoms of the individual are safeguarded.
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