Tourism Booming in China and Hong Kong(0)
That will come as good news for the city, whose tourism industry is powered by the millions of visitors who cross the border each year.
Source : Konaxis
Chinese accounting standard(0)
The proposal is designed to reduce costs and keep Hong Kong competitive with Shanghai, reported Reuters.
The unification of standards would let Chinese companies whose shares trade in Hong Kong, known in the city as H-shares, post a single set of results for each reporting period identical to the reports they put out for their China-listed shares.
The Hong Kong proposal testifies to the growing importance of China for international investors.
Mainland accounting firms that prepare reports under Chinese standards charge about one-third what their Hong Kong counterparts do, making them more attractive in terms of price.
But any cost gains could easily be offset by an industry where book-cooking scandals were very common.
To help minimize that risk, under the proposal it is now considering, Hong Kong would allow in only Chinese auditors who have passed muster with China?s Finance Ministry and the securities regulator, the China Securities Regulatory Commission. Other checks and balances are also being discussed.
Hong Kong?s move is also seen as an acknowledgement that Chinese accounting standards are rapidly converging with international standards.
One major difference that remains between Chinese and international standards is accounting for asset impairment, which is responsible for some of the big differences in results for investment-oriented firms like insurers.
China?s standards do not allow for the reversal of asset impairment if initial provisions later turn out to have been overstated. But international accounting does allow for such reversal.
Source : Konaxis
Hong Kong next year will launch .Hong Kong Chinese domain names(0)
Hong Kong Internet Registration Management Corporation pointed out after the introduction of “.Hong Kong” domain name, users can register the “. Hk” and “.Hong Kong” domain names at the same time, and users will receive Simplified Chinese domain name automatically when registering a Traditional Chinese domain name, which can be described as double benefit.
The company added that due to HK’s proximity to mainland China, neighboring Taiwan, Southeast Asia and other places “.Hong Kong” domain name will be launched to cater for the increasingly frequent economic and trade exchanges in this region, promoting the development of Chinese language web site.
Daimler meet rising demand in China(0)
With the rising demand in the first four months of 2009, the German auto maker is adding equipment to increase the manufacturing capacity at its plant in Beijing.
Hale however, declined to give the actual current or planned capacity at the plant, citing company policy.
“The plant was designed to be flexible enough to increase capacity based on demand,” he said. “As always, we build to demand, and we hope demand will continue to increase.”
The company can add capacity by altering work schedules or adding more equipment, he said.
Hale also declined to confirm the figures reported by Caijing Magazine that Daimler? annual manufacturing capacity China will increase from 25,000 units to 80,000 units.
Daimler operates the plant through a joint venture, BeijingBenz- DaimlerChrysler Automotive Ltd.
The plant produces C-Class Mercedes-Benz autos as well as Chrysler Sebrings and 300C luxury sedans. Retooling is ongoing in part of the manufacturing facility dedicated to the extended version of Mercedes-Benz E-Class vehicles.
Source : Konaxis
Hong Kong is No.1 in the proliferation of junk emails(0)
MessageLabs released the Intelligence Report in May saying that Hong Kong’s spams increased by 2.4 percent reaching 92.3 percent and HK becomes the world’s most rampant spam areas, compared to the world’s spam emails which account for 90.4% of the whole email system(there is one spam every 1.11 emails).
In Asia-Pacific region, China was in the second place with 91.1 percent, Malaysia ranked third with 89 percent.
The report also showed that geographical location has also decided the time when people receiving spams. According to a 7 days’ study, people living in the Asia-Pacific regions are easy to receive spams for a whole day. Spams U.S. residents receive reach the peak between local 9 o’clock to 10 o’clock and the volume of spams is greatly reduced at night. European users will receive spams for a whole day, and the volumes in various time periods are relatively stable.
Worldwidely, the junk emails are less active on weekends. Generally speaking, Sunday has the lowest level of spams. For Asia-Pacific region, the number on the weekends will drop by about 18% than on the weekdays.
Spams will be gradually active on Mondays. Because of the time differences Mondays do not have much spams.
More content of this report : http://www.messagelabs.com/mlireport/MLIReport_2009_05_May_FINAL.pdf
Hong Kong Plans To Spend HK$100 Million On Free Internet Service(0)
PCCW will be responsible for installing and operating Wi-Fi facilities in such public areas as libraries employment centers parks and government buildings. The whole project will be completed in two phases and the first 120 venues are expected to be put into use in June next year and the remainder done by 2009. OGCIO says that the agreement is a milestone in Hong Kong’s construction of a wireless city.
In order to make Hong Kong a wireless city the Hong Kong SAR government already spends money to provide free Wi-Fi service in public areas like airports parks residential areas and gyms. It is estimated that about 20.000 people are using this service each day.
Wi-Fi has become an infrastructure concern for cities across the world. Last year about 300 cities planned to make themselves wireless and this number has doubled this year. Companies like Google have said they wish to make cities like San Francisco offer free or low-cost wireless.
Source : Chinatechnews
Hong Kong Wi-Fi Service Continues To Grow(0)
“We are pleased to see such a rapid and massive rollout of public Wi-Fi service. Unlike other cities, where the public Wi-Fi service involves either public funding or coordination by governments, such service in Hong Kong is entirely funded by the commercial sector. This testifies once again the success of our market-driven policy. We look forward to this as one of the many initiatives to be taken forward by the commercial operators to further drive the development of Hong Kong as a wireless city” a spokesperson from OFTA said.
In order that the public may have updated information about the development and coverage of the public Wi-Fi service in Hong Kong, OFTA will regularly publish the statistics on the number of Wi-Fi hotspots and also their locations on its official website.
“Due to the expansion of public Wi-Fi service throughout the territory provided by the service operators and the Government’s commitments to provide Wi-Fi service in some 350 government premises in the coming two years, there is growing concern about the radiofrequency (RF) radiation safety to the general public. Even though Wi-Fi devices emit very low level of RF radiation, OFTA has taken the initiative to conduct the first territory-wide measurement of the RF radiation emitted by Wi-Fi hotspots during the period from July to September this year”, continued the spokesperson.
OFTA adopts the International Commission on Non-Ionising Radiation Protection Guidelines published in 1998 on the safety limits of exposure to RF radiation for the protection of workers and the public against non-ionizing radiation hazards, which were set out in a Code of Practice for compliance by the industry. According to OFTA’s measurement results, the RF radiation levels of Wi-Fi hotspots installed at various public locations, including convenience shops, cafes, shopping malls, the airport, MTRC and KCRC stations, are far below the recommended RF exposure limits laid down in the ICNIRP Guidelines. According to the World Health Organization, until now, there is not yet any convincing scientific evidence to prove that the weak RF signals emitted by wireless networks will cause adverse health effects.
Source : Chinatechnews