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Interim Report Report Interim
CITICPacific interimreport CITIC Pacific Ltd 32/F CITIC Tower 2008 1 Tim Mei Avenue Central, Hong Kong Tel: +852 2820 2111 Fax: +852 2877 2771 www.citicpacific.com interim report 2008 Stock code: 0267 1 Financial Highlights 2 Major Businesses 3 Chairman’s Letter to Shareholders 5 Financial Review 19 Human Resources Financial Statements 20 Consolidated Profit and Loss Account 21 Consolidated Balance Sheet 22 Consolidated Cash Flow Statement 24 Consolidated Statement of Changes in Equity 25 Notes to the Accounts 30 Report on Review of Interim Financial Report Statutory Disclosure 31 Dividend and Closure of Register 31 Share Option Plan 34 Directors’ Interests in Securities 37 Substantial Shareholders 38 Share Capital 39 Continuing Disclosure Requirements under Rule 13.22 of the Listing Rules 40 Corporate Governance 41 Definition of Terms 42 Corporate Information financial highlights 2008 2007 in HK$ million six months ended 30 June Profit Attributable to Shareholders 4,377 4,968 Major Businesses’ Contribution Special Steel 1,839 1,123 Property 453 446 Infrastructure 689 844 Listed Subsidiaries CITIC 1616 83 2,020 Dah Chong Hong 151 187 Fair Value change of Investment Properties 490 416 Net Gain from Sale of Listed Shares 843 – Cash Contributed from all Businesses 5,295 4,316 as at as at 30 June 31 December Capital Employed 102,966 88,447 Shareholders’ Funds 61,060 59,793 Net Debt 31,211 20,609 Cash & Available Committed Loan Facilities 30,181 26,589 in HK$ six months ended 30 June Earnings per Share 1.99 2.25 Dividends per Share Regular 0.30 0.40 Special – 0.20 Staff 25,177 23,989 Please refer to Definition of Terms on page 41 CITIC Pacific Interim Report 2008 1 major businesses CITIC Pacific has unrivalled experience and expertise in operating businesses in China both on the mainland and in Hong Kong. -
Official Record of Proceedings
LEGISLATIVE COUNCIL ─ 3 November 2010 1399 OFFICIAL RECORD OF PROCEEDINGS Wednesday, 3 November 2010 The Council met at Eleven o'clock MEMBERS PRESENT: THE PRESIDENT THE HONOURABLE JASPER TSANG YOK-SING, G.B.S., J.P. THE HONOURABLE ALBERT HO CHUN-YAN IR DR THE HONOURABLE RAYMOND HO CHUNG-TAI, S.B.S., S.B.ST.J., J.P. THE HONOURABLE LEE CHEUK-YAN DR THE HONOURABLE DAVID LI KWOK-PO, G.B.M., G.B.S., J.P. THE HONOURABLE FRED LI WAH-MING, S.B.S., J.P. DR THE HONOURABLE MARGARET NG THE HONOURABLE JAMES TO KUN-SUN THE HONOURABLE CHEUNG MAN-KWONG THE HONOURABLE CHAN KAM-LAM, S.B.S., J.P. THE HONOURABLE MRS SOPHIE LEUNG LAU YAU-FUN, G.B.S., J.P. THE HONOURABLE LEUNG YIU-CHUNG DR THE HONOURABLE PHILIP WONG YU-HONG, G.B.S. 1400 LEGISLATIVE COUNCIL ─ 3 November 2010 THE HONOURABLE WONG YUNG-KAN, S.B.S., J.P. THE HONOURABLE LAU KONG-WAH, J.P. THE HONOURABLE LAU WONG-FAT, G.B.M., G.B.S., J.P. THE HONOURABLE MIRIAM LAU KIN-YEE, G.B.S., J.P. THE HONOURABLE EMILY LAU WAI-HING, J.P. THE HONOURABLE ANDREW CHENG KAR-FOO THE HONOURABLE TIMOTHY FOK TSUN-TING, G.B.S., J.P. THE HONOURABLE TAM YIU-CHUNG, G.B.S., J.P. THE HONOURABLE ABRAHAM SHEK LAI-HIM, S.B.S., J.P. THE HONOURABLE LI FUNG-YING, S.B.S., J.P. THE HONOURABLE TOMMY CHEUNG YU-YAN, S.B.S., J.P. THE HONOURABLE FREDERICK FUNG KIN-KEE, S.B.S., J.P. -
Bay to Bay: China's Greater Bay Area Plan and Its Synergies for US And
June 2021 Bay to Bay China’s Greater Bay Area Plan and Its Synergies for US and San Francisco Bay Area Business Acknowledgments Contents This report was prepared by the Bay Area Council Economic Institute for the Hong Kong Trade Executive Summary ...................................................1 Development Council (HKTDC). Sean Randolph, Senior Director at the Institute, led the analysis with support from Overview ...................................................................5 Niels Erich, a consultant to the Institute who co-authored Historic Significance ................................................... 6 the paper. The Economic Institute is grateful for the valuable information and insights provided by a number Cooperative Goals ..................................................... 7 of subject matter experts who shared their views: Louis CHAPTER 1 Chan (Assistant Principal Economist, Global Research, China’s Trade Portal and Laboratory for Innovation ...9 Hong Kong Trade Development Council); Gary Reischel GBA Core Cities ....................................................... 10 (Founding Managing Partner, Qiming Venture Partners); Peter Fuhrman (CEO, China First Capital); Robbie Tian GBA Key Node Cities............................................... 12 (Director, International Cooperation Group, Shanghai Regional Development Strategy .............................. 13 Institute of Science and Technology Policy); Peijun Duan (Visiting Scholar, Fairbank Center for Chinese Studies Connecting the Dots .............................................. -
Hong Kong: Key Issues in 2021
December 23, 2020 Hong Kong: Key Issues in 2021 The Hong Kong Special Administrative Region (HKSAR, country or with external elements to endanger national or Hong Kong) is a city located off the southern coast of security.” The NPCSC and the HKSAR government have Guangdong Province, People’s Republic of China (PRC or stated that the NSL was necessary to restore order China). More than 90% of Hong Kong’s population is following the large-scale protests of 2019. For more about ethnically Chinese. The first language of the vast majority the 2019 protests, see CRS In Focus IF11295, Hong Kong’s is Cantonese, a variety of Chinese different from what is Protests of 2019. spoken in most of the PRC. Hong Kong at a Glance Under the provisions of a 1984 international treaty known Population (2020): 7.5 million as the “Joint Declaration,” sovereignty over Hong Kong Area: 1,082 square kilometers (418 square miles) transferred from the United Kingdom to the PRC on July 1, Per Capita GDP (2019): HK$381,714 (US$48,938) 1997. In the Joint Declaration, China pledged the former British colony “will enjoy a high degree of autonomy, Life Expectancy (at birth, 2018): Men: 82.2 years; except in foreign and defence affairs,” and “will be vested Women: 88.1 years with executive, legislative and independent judicial power, Leadership: Chief Executive Carrie Lam Cheng Yuet-ngor including that of final adjudication.” China also promised Source: Hong Kong Census and Statistics Department that the “[r]ights and freedoms, including those of the person, of speech, of the press, of assembly, of association, The Hong Kong Police Force (HKPF) has arrested dozens of travel, of movement, of correspondence, of strike, of of people for alleged NSL violations. -
Is Poverty Eradication Impossible? a Critique on the Misconceptions of the Hong Kong Government • Hung Wong
STARTING3 ISSUES FROM PER YEAR2016 The China Review An Interdisciplinary Journal on Greater China Volume 15 Number 2 Fall 2015 Special Issue Introduction: Poverty in a Rich Society—The Case of Hong Kong • Maggie Lau (Guest Editor) My Experience Researching Poverty over the Past 35 Years • Nelson W. S. Chow Poverty in Hong Kong • Maggie Lau, Christina Pantazis, David Gordon, Lea Lai, and Eileen Sutton Setting the Poverty Line: Policy Implications for Squaring the Welfare Circle in Volume 15 Number 2 Fall 2015 Hong Kong • Florence Meng-soi Fong and Chack-kie Wong Health Inequality in Hong Kong • Roger Y. Chung and Samuel Y. S. Wong An Interdisciplinary Enhancing Global Competitiveness and Human Capital Management: Does Journal on Education Help Reduce Inequality and Poverty in Hong Kong? • Ka Ho Mok Greater China Is Poverty Eradication Impossible? A Critique on the Misconceptions of the Hong Kong Government • Hung Wong Book Reviews Special Issue Poverty in a Rich Society Vol. 15, No. 2, Fall 2015 2, Fall 15, No. Vol. —The Case of Hong Kong Available online via ProQuest Asia Business & Reference Project MUSE at http://muse.jhu.edu/journals/china_review/ JSTOR at http://www.jstor.org/journal/chinareview STARTING3 ISSUES FROM PER YEAR2016 The China Review An Interdisciplinary Journal on Greater China Volume 15 Number 2 Fall 2015 Special Issue Introduction: Poverty in a Rich Society—The Case of Hong Kong • Maggie Lau (Guest Editor) My Experience Researching Poverty over the Past 35 Years • Nelson W. S. Chow Poverty in Hong Kong • Maggie Lau, Christina Pantazis, David Gordon, Lea Lai, and Eileen Sutton Setting the Poverty Line: Policy Implications for Squaring the Welfare Circle in Volume 15 Number 2 Fall 2015 Hong Kong • Florence Meng-soi Fong and Chack-kie Wong Health Inequality in Hong Kong • Roger Y. -
OFFICIAL RECORD of PROCEEDINGS Thursday, 12 July
LEGISLATIVE COUNCIL ─ 12 July 2007 10569 OFFICIAL RECORD OF PROCEEDINGS Thursday, 12 July 2007 The Council continued to meet at Nine o'clock MEMBERS PRESENT: THE PRESIDENT THE HONOURABLE MRS RITA FAN HSU LAI-TAI, G.B.M., G.B.S., J.P. THE HONOURABLE JAMES TIEN PEI-CHUN, G.B.S., J.P. THE HONOURABLE ALBERT HO CHUN-YAN IR DR THE HONOURABLE RAYMOND HO CHUNG-TAI, S.B.S., S.B.ST.J., J.P. THE HONOURABLE LEE CHEUK-YAN THE HONOURABLE FRED LI WAH-MING, J.P. DR THE HONOURABLE LUI MING-WAH, S.B.S., J.P. THE HONOURABLE MARGARET NG THE HONOURABLE MRS SELINA CHOW LIANG SHUK-YEE, G.B.S., J.P. THE HONOURABLE JAMES TO KUN-SUN THE HONOURABLE CHEUNG MAN-KWONG THE HONOURABLE CHAN YUEN-HAN, S.B.S., J.P. THE HONOURABLE BERNARD CHAN, G.B.S., J.P. 10570 LEGISLATIVE COUNCIL ─ 12 July 2007 THE HONOURABLE CHAN KAM-LAM, S.B.S., J.P. THE HONOURABLE MRS SOPHIE LEUNG LAU YAU-FUN, G.B.S., J.P. THE HONOURABLE LEUNG YIU-CHUNG THE HONOURABLE SIN CHUNG-KAI, S.B.S., J.P. DR THE HONOURABLE PHILIP WONG YU-HONG, G.B.S. THE HONOURABLE WONG YUNG-KAN, S.B.S., J.P. THE HONOURABLE JASPER TSANG YOK-SING, G.B.S., J.P. THE HONOURABLE HOWARD YOUNG, S.B.S., J.P. DR THE HONOURABLE YEUNG SUM, J.P. THE HONOURABLE LAU CHIN-SHEK, J.P. THE HONOURABLE LAU KONG-WAH, J.P. THE HONOURABLE LAU WONG-FAT, G.B.M., G.B.S., J.P. -
Socioterritorial Fractures in China: the Unachievable “Harmonious Society”?
China Perspectives 2007/3 | 2007 Creating a Harmonious Society Socioterritorial Fractures in China: The Unachievable “Harmonious Society”? Guillaume Giroir Édition électronique URL : http://journals.openedition.org/chinaperspectives/2073 DOI : 10.4000/chinaperspectives.2073 ISSN : 1996-4617 Éditeur Centre d'étude français sur la Chine contemporaine Édition imprimée Date de publication : 15 septembre 2007 ISSN : 2070-3449 Référence électronique Guillaume Giroir, « Socioterritorial Fractures in China: The Unachievable “Harmonious Society”? », China Perspectives [En ligne], 2007/3 | 2007, mis en ligne le 01 septembre 2010, consulté le 28 octobre 2019. URL : http://journals.openedition.org/chinaperspectives/2073 ; DOI : 10.4000/ chinaperspectives.2073 © All rights reserved Special feature s e Socioterritorial Fractures v i a t c n i in China: The Unachievable e h p s c “Harmonious Society”? r e p GUILLAUME GIROIR This article offers an inventory of the social and territorial fractures in Hu Jintao’s China. It shows the unarguable but ambiguous emergence of a middle class, the successes and failures in the battle against poverty and the spectacular enrichment of a wealthy few. It asks whether the Confucian ideal of a “harmonious society,” which the authorities have been promoting since the early 2000s, is compatible with a market economy. With an eye to the future, it outlines two possible scenarios on how socioterritorial fractures in China may evolve. he need for a “more harmonious society” was raised 1978, Chinese society has effectively ceased to be founded for the first time in 2002 at the Sixteenth Congress on egalitarianism; spatial disparities are to be seen on the T of the Communist Party of China (CPC). -
Reddening Or Reckoning?
Reddening or Reckoning? An Essay on China’s Shadow on Hong Kong Media 22 Years after Handover from British Rule Stuart Lau Journalist Fellow 2018 Reuters Institute for the Study of Journalism University of Oxford August 2019 CONTENTS 1. Preface 2 2. From top to bottom: the downfall of a TV station 4 3. Money, Power, Media 10 4. “Political correctness”: New normal for media 20 5. From the Big Brother: “We are watching you” 23 6. Way forward - Is objective journalism still what Hong Kong needs? 27 1 Preface Hong Kong journalists have always stood on the front line of reporting China, a country that exercises an authoritarian system of government but is nonetheless on track to global economic prominence. The often-overlooked role of Hong Kong journalists, though, has gained international attention in summer 2019, when weeks of citywide protests has viralled into the largest-scale public opposition movement ever in the city’s 22-year history as a postcolonial political entity under Chinese sovereignty, forcing the Hong Kong government into accepting defeat over the hugely controversial extradition bill. While much can be said about the admirable professionalism of Hong Kong’s frontline journalists including reporters, photojournalists and video journalists, most of whom not having received the level of warzone-like training required amid the police’s unprecedentedly massive use of potentially lethal weapons, this essay seeks to examine something less visible and less discussed by international media and academia: the extent to which China influences Hong Kong’s media organisations, either directly or indirectly. The issue is important on three levels. -
Shenzhen-Hong Kong Borderland
FORUM Transformation of Shen Kong Borderlands Edited by Mary Ann O’DONNELL Jonathan BACH Denise Y. HO Hong Kong view from Ma Tso Lung. PC: Johnsl. Transformation of Shen Kong Borderlands Mary Ann O’DONNELL Jonathan BACH Denise Y. HO n August 1980, the Shenzhen Special and transform everyday life. In political Economic Zone (SEZ) was formally documents, newspaper articles, and the Iestablished, along with SEZs in Zhuhai, names of businesses, Shenzhen–Hong Kong is Shantou, and Xiamen. China’s fifth SEZ, Hainan shortened to ‘Shen Kong’ (深港), suturing the Island, was designated in 1988. Yet, in 2020, cities together as specific, yet diverse, socio- the only SEZ to receive national attention on technical formations built on complex legacies its fortieth anniversary was Shenzhen. Indeed, of colonial occupation and Cold War flare-ups, General Secretary Xi Jinping attended the checkpoints and boundaries, quasi-legal business celebration, reminding the city, the country, opportunities, and cross-border peregrinations. and the world not only of Shenzhen’s pioneering The following essays show how, set against its contributions to building Socialism with Chinese changing cultural meanings and sifting of social Characteristics, but also that the ‘construction orders, the border is continuously redeployed of the Guangdong–Hong Kong–Macau Greater and exported as a mobile imaginary while it is Bay Area is a major national development experienced as an everyday materiality. Taken strategy, and Shenzhen is an important engine together, the articles compel us to consider how for the construction of the Greater Bay Area’ (Xi borders and border protocols have been critical 2020). Against this larger background, many to Shenzhen’s success over the past four decades. -
“The Historical Roots of Shanghai's Modern Miracle”
“The Historical Roots of Shanghai’s Modern Miracle” By Parks M. Coble, University of Nebraska A visit to Shanghai today reveals a sleek, modern, world-class city with a new international airport connected to the center city by a high-speed maglev train. A new financial district (Pudong) with three of the world’s ten tallest buildings sits on the east side of the Huangpu River, across from the famous waterfront (the Bund) of earlier times. Eleven modern subway lines connect all parts of the city including a new train station which provides high-speed train service to all of China. World famous designer name shops line Shanghai’s major shopping streets. But it was not always thus. On my first trip to Shanghai not long after the death of Chairman Mao in 1976, I encountered a grim, shabby city where little had been built since 1937. Bicycles and decrepit buses (always jammed) were the major modes of transportation. To one who saw the old Shanghai the new Shanghai is a modern miracle. Yet viewed from a historical perspective, today’s Shanghai is what one might have expected. After the opening of Shanghai to Western commerce in 1842, the city soon became a major center of international 1 trade and banking. The powerful Hong Kong and Shanghai Banking Corporation (now just HBSC) dominated the foreign banking community, but by the 1920s numerous Chinese run modern banks were headquartered in the city. When modern factories began to appear in China at the close of the 19th century, over half would be concentrated in Shanghai. -
China (Includes Tibet, Hong Kong, and Macau) 2017 Human Rights Report
CHINA (INCLUDES TIBET, HONG KONG, AND MACAU) 2017 HUMAN RIGHTS REPORT EXECUTIVE SUMMARY The People’s Republic of China (PRC) is an authoritarian state in which the Chinese Communist Party (CCP) is the paramount authority. CCP members hold almost all top government and security apparatus positions. Ultimate authority rests with the CCP Central Committee’s 25-member Political Bureau (Politburo) and its seven-member Standing Committee. Xi Jinping continued to hold the three most powerful positions as CCP general secretary, state president, and chairman of the Central Military Commission. At the 19th Communist Party Congress in October, the CCP reaffirmed Xi as the leader of China and the CCP for another five years. Civilian authorities maintained control of the military and internal security forces. The most significant human rights issues for which the government was responsible included: arbitrary or unlawful deprivation of life and executions without due process; extralegal measures such as forced disappearances, including extraterritorial ones; torture and coerced confessions of prisoners; arbitrary detention, including strict house arrest and administrative detention, and illegal detentions at unofficial holding facilities known as “black jails”; significant restrictions on freedom of speech, press, assembly, association, religion, and movement (for travel within the country and overseas), including detention and harassment of journalists, lawyers, writers, bloggers, dissidents, petitioners, and others as well as their family members; -
Carrie Lam Becomes Fifth Hong Kong Chief Executive
REVIEW September 2017 Hong Kong Economic HONG and Trade Office, London KONG Carrie Lam becomes fifth Hong Kong Chief Executive arrie Lam was sworn in as Chief Executive of Hong Kong on Right: President Xi (first right) swears in July 1 at a special ceremony attended by China’s President Mrs Carrie Lam as CXi Jinping, who was in Hong Kong to mark the 20th Hong Kong’s fifth anniversary of the establishment of the Hong Kong Special Chief Executive. Administrative Region (HKSAR). Speaking after her inauguration, Mrs Lam promised to repay the trust and support of the people and central government. “My vision is for a Hong Kong of hope and happiness – a city that we are all proud to call our home. I see a vibrant international metropolis that is just, civilised, safe, affluent, blessed with the rule of law,” she said. Mr Xi also swore in the other officials of Mrs Lam’s new government and members of the executive council during the Left: A flag raising ceremony at ceremony held at the Hong Kong Convention and Exhibition Centre. Golden Bauhinia Mrs Lam, whose term of office runs until 2022, becomes Hong Square marks the Kong’s fifth Chief Executive and the first woman to hold the post. In 20th anniversary of the return of Hong her first full day as Chief Executive she visited people in the North Kong to Chinese District, Kowloon City District and Central and Western District sovereignty. (more on page 2). President Xi visits Hong Kong President Xi Jinping arrived in Hong Kong on world-class museums, theatres, concert halls June 30 to attend celebrations to mark the 20th and performance venues – signing an anniversary of the establishment of the HKSAR.