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PRESS DIGEST - Hong Kong - June 20

Source: Reuters - Fri, 20 Jun 2014 01:56 GMT
Author: Reuters
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HONG KONG, June 20 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Three mainland activists fighting for officials to disclose their assets have been given the toughest jail sentences yet in the authorities' crackdown on the New Citizen movement. A court in Jiangxi province jailed Liu Ping and Wei Zhongping for six-and-a-half years and handed Li Sihua a three-year sentence, according to Li's lawyer. (http://bit.ly/1nRPXZq)

-- Mainland China is the third-fastest at producing millionaires after Japan and Kuwait and ahead of Hong Kong and the United States. China experienced a 17.8 per cent growth in the number of people with more than $1 million to invest, taking the total to 758,000, according to the World Wealth Report 2014 released by Capgemini and RBC Wealth Management. (http://bit.ly/1iMXDrA)

-- The Law Society is set to vote on a motion of no confidence in president Ambrose Lam San-keung after critics of his support for Beijing's white paper on Hong Kong mustered at least double the number of signatures needed. (http://bit.ly/1qwUqnD)

THE STANDARD

-- Defending himself against allegations that he held secret talks with former U.S. deputy defense secretary Paul Wolfowitz last month, Next Media boss Jimmy Lai Chee-ying said he had never even considered asking Washington for help. The allegations were made as Beijing began stepping up its warning that overseas forces are meddling in the Hong Kong affairs.(http://bit.ly/1srT9A8)

-- Hong Kong Secretary for Financial Services and the Treasury Ceajer Chan Ka-keung says he agrees with the Financial Services Development Council's report that the local bourse should be more open to include firms with special shareholding structures. (http://bit.ly/1ipDCMG)

HONG KONG ECONOMIC JOURNAL

-- Henderson Land has offered for sale an additional 24 units at a luxury residential development in Hong Kong's mid level. Of these, a duplex unit at the top floor has an asking price of HK$646.48 million, or HK$112,800 ($14,600) per sq ft, which is set to be the highest in Asia.

MING PAO DAILY NEWS

-- Chinese herbal drinks and tortoise herbal jelly producer and retailer Hung Fook Tong Group plans to raise HK$203 million ($26.19 million) in an initial public offering in Hong Kong. It plans to add 90 stores in the city over the next three years, and aims to open 25 stores in Guangdong province and in Shanghai.

For Chinese newspapers, see............... ($1 = 7.7515 Hong Kong Dollars) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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