Infobrief September 2004 - Asia Pacific Consult KG

Infobrief September 2004
♦♦♦ Aktuelle Information für die Mitglieder der Deutsche Hongkong Gesellschaft e.V. ♦♦♦
Presseschau
News.gov.hk, 29.9.2004
HK still a magnet for investors
Hong Kong has retained its position as
Asia’s second-largest destination for
foreign direct investment (FDI), behind the
Mainland according to the United Nations
Conference on Trade & Development’s
“World & Investment Report 2004”. Invest
Hong
Kong’s
Director-General
of
Investment Promotion Mike Rowse says
the report shows that Hong Kong is still an
attractive place for business and
investors. “Foreign companies continue to
find Hong Kong attractive for all the
traditional reasons.” (…) Despite the
devastating
SARS
outbreak
and
significant economic challenges, the FDI
flow to Hong Kong reached US$13.6
billion in 2003, up 40% over the US$9.7
billion recorded a year earlier.
SCMP, 20.9. 2004
Jiang’s departure sees the curtain rise
on a new era
A new era began on the mainland
yesterday, with Jiang Zemin giving up his
last post as Chairman of the Central
Military Commission to make way for
president Hu Jintao, completing the first
orderly transfer of power since 1949. Mr.
Jiang’s resignation was accepted by the
Central Committee, which praised him for
his 15-year service as the country’s top
leader. (…) President Hu Jintao was
elected the commission Chairman,
becoming the mainland’s undisputed
leader commanding the party, state and
armed forces.
Handelsblatt, 14.9.2004
Hongkongs Demokraten verfehlen ihr
Wahlziel
Das demokratische Lager in Hongkong
hat bei der mit Spannung erwarteten
Parlamentswahl am Sonntag seine hoch
gesteckten Ziele nicht erreicht. Nach dem
offiziellen Wahlergebnis entfielen 60
Prozent der 1,8 Mill. abgegebenen
Stimmen auf Politiker der Demokratiebewegung, die damit 18 von 30 in freier
und direkter Wahl vergebenen Sitzen
gewannen. Das ist nur ein Sitz mehr als
bei der letzten Wahl – trotz der
Rekordwahlbeteiligung von 56 Prozent. 30
weitere Sitze im Legislative Council
(Legco),
dem
Stadtparlament
der
Sonderverwaltungszone werden aber von
beruflich definierten Interessengruppen
vergeben, die der Zentralregierung in
Peking nahe stehen. Hier erhielten
demokratisch gesinnte Politiker nur sieben
Sitze, so dass im Legco 25 Vertreter des
demokratischen Lagers 34 pekingfreundlichen Parlamentariern gegenüber
stehen, bei einem unabhängigen Abgeordneten.
Börsenzeitung 14.8.2004
Finanzplatz Hongkong muss sich
gegen
Singapur
und
Shanghai
behaupten
Hongkong, lange das Tor nach China,
steht mit Singapur und Shanghai im
scharfen Wettbewerb um den Rang,
wichtigster regionaler Finanzplatz zu sein.
Zurzeit liegt die ehemalige britische
Kolonie dank seiner effizienten Börse,
seiner gesunden Banken sowie seiner
unabhängigen Justiz klar in Führung.
Singapur teilt zwar alle diese Vorteil, doch
liegt der Stadtstaat wegen seiner
geografischen Lage klar hinten und sucht
heute seine Rolle als Dienstleistungszentrum in Südostasien zu stärken.
Shanghai hingegen ist dabei, zu
Hongkong aufzuschließen und sollten die
Wachstumsraten auf dem Festland
nachhaltig sein, könnte die Stadt schon in
wenigen Jahren die Pole Position über
nehmen.
SCMP, 9.9.2004
Foreign firms struggling to get land
Foreign firms are finding it increasingly
difficult to obtain industrial land in China
as the central government has closed
thousands of industrial parks and frozen
land sales. (…) The government launched
a crackdown on illegal use of land for
construction projects in May. The
campaign, which aims to conserve
agricultural land and protect farmers from
forced and uncompensated eviction,
dovetails with broader government goals
to cool the over-heating economy.
Hong Kong Trader, 1.9.2004
Soaring GDP points to robust growth
for rest of the year
Hong Kong has entered into a fullyfledged recovery in the second quarter of
the year with double-digit gross domestic
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product (GDP) growth and a flurry of
positive economic indicators, pointing to a
strong growth momentum for the rest of
the year. The economy grew 12 per cent
year on year in the second quarter,
significantly up from 7 per cent in the first
quarter and was the fastest growth in four
years. The robust numbers prompted the
Government to revise its full year GDP
forecast to 7.5 per cent from 6 per cent.
Acting Government economist Elly Mao
said: “We believe 7.5 per cent growth is
achievable. At the same time, we should
see inflation coming back, although not by
too much.”
Unternehmen
Hong Kong Trader, 30.9.2004
Airport pledges to stay cheaper, faster, better
Hong Kong International Airport (HKIA) must increase market space and create critical mass
to maintain its competitive edge, according to the commercial director of the Airport Authority
Hans Bakker. With the recent opening of Baiyun International Airport in Guangzhou,
southern China – with handling capacity of 25 million passengers a year and 1 million tonnes
of cargo – Hong Kong inevitably faces many challenges to stay on top as a leading aviation
hub.
Scmp.com, 22.9.2004
HSBC sticks to its „long game”
HSBC, which is “building” rather than “buying” an expanded investment banking operation,
has the balance sheet and corporate relationships to make the organic strategy work –
especially in Asia, says John Studzinski, co-head of the group’s newly emerging investment
banking unit. But that did not mean, as some Wall Street rivals have complained, that it
would use cut-price loans to secure investment banking deals, he said. “We do not lend, and
we will not lend, as a calling card for other business,” he said. The target that Mr Studzinki’s
unit, Corporate Investment Banking & Markets (CIBM), has set for itself in Asia is to be
ranked among the top three investment banks in equity, mergers and acquisitions, and debt
within the next four years.
SCMP, 18.9.2004
Hutchison unit beats rivals for $4.7b expansion of Thai port
A consortium led by Hutchison Port Holdings yesterday won the backing of Thai port officials
to build and manage a $4,7 billion expansion of the country’s only deepwater port. The 30year concession at the port Laem Chabang – which must be approved by the Thai cabinet –
calls for Hutchison’s international port investment arm to spend $3.2 billion developing six
berths
SCMP, 11.9.2004
PCCW eyes mass residential market
PCCW chairman Richard Li appears poised to follow his father Li Ka-shing, into the
competitive fray of Hong Kong’s mass residential property market. PCCW’s Pacific Century
Premium Developments (PCPD), which earlier signalled its intention to re-develop some of
its parent’s telephone exchange buildings into mass and upmarket residential developments,
is now toying with the idea of bidding for two residential lots that are due for government
auction next month.
9.9.2004
HK-Beijing deal opens mainland to Cathay
Hong Kong and Beijing signed a landmark deal yesterday that will raise the number of
airlines allowed to serve the mainland and ultimatively add 400 flights a week to meet the
growing demand for leisure and business travel. The deal allow Cathay Pacific to apply
immediately for more flights to Beijing and for Cargo services to Shanghai. It will be allowed
to fly passengers between Hong Kong and Shanghai in 2006.
FAZ, 31.8.2004
AEG Elektrowerkzeuge gehen nach Hongkong
Der schwedische Maschinenbaukonzern verkauft seinen Geschäftszweig Elektrowerkzeuge
mit den Marken AEG und Milwaukee an die in Hongkong ansässige Techtronic Industries
Co. Ltd.. Der Kaufpreis liegt den Angaben zufolge bei 713 Millionen amerikanischen Dollar.
Hang Seng Index am 30. September 2004
13,120.03 Punkte
Tel. 069/ 95772 311 e-mail: [email protected]
www.hongkong-gesellschaft.de
Feature:
Global Oil Prices – Implications for Hong Kong
Recently, crude oil futures smashed the US$50 benchmark to make a new record, amid
worries over production interruptions in Nigeria, Iraq and Saudi Arabia, exacerbated by a
supply squeeze due to hurricanes in the US. Soaring oil prices, which have grown by over
50% since the beginning of 2004, will undoubtedly have a negative influence on the world
economy, which has shown signs of easing already. In turn, this is expected to have an
impact, albeit limited, on Hong Kong.
Given the dominant role of the service sector, the direct impact of higher crude prices on the
Hong Kong economy should be relatively moderate. While domestic consumption will soften
somewhat amid increasing energy and transportation costs, the impact on the economy as a
whole will be less than that of two decades ago. In 1980, Hong Kong's retained imports of
petroleum and petroleum products accounted for about 5% of Hong Kong's GDP. Last year,
the share dropped to only 2%. With the relocation of most manufacturing plants to the
mainland, the reliance of Hong Kong's domestic economy on petroleum and related energy
products has reduced dramatically.
More importantly, surging oil prices feed through to the Hong Kong economy amid their
negative impact on world growth. While overseas demand has remained strong so far, if
stubbornly high oil prices trigger a contraction of consumption in major markets, Hong Kong
exports will be affected.
Meanwhile, high oil prices will create more cost pressure on Hong Kong exporters and
manufacturers, who have already seen increasing prices on plastic raw materials and other
petrochemical products. Higher input prices certainly jack up production cost, and bite into
the profit margins of exporters, as most of them are unable to transfer the entire rise to their
customers for fear of losing business. The extent of impact from oil price increase differs
from one product sector to another. One determining factor is the material components of
the whole product itself. For instance, as plastic is the essential material for making many
types of toys, production cost is very much affected by the fluctuation of petrochemical
products. Not surprisingly, it is reported that commonly used plastic raw materials used in
toy manufacturing have registered a 50% price rise since January this year.
High crude prices are exerting a negative impact on the world economy, and will continue to
do so in the medium term. Nonetheless, the effect is unlikely to be substantial. According to
the latest assessment made by the International Monetary Fund (IMF), rising oil prices are
expected to slow the global economy, but not enough to derail continued modest world
growth. Taking into account the oil factor, it forecasts the global economy to grow by 5% in
2004, and 4.3% in 2005. The spillover effect on Hong Kong should thus be rather contained.
etc.
•
City life sends mainland elite to early grave
Big–city life is proving deadly for mainlanders. Up to 75 per cent of urban Chinese
suffer from ill health, and well educated city dwellers are living 14 years less than the
national average. In a survey of 16 Chinese cities with populations greater than 1
million, the Red Cross Society of China found that 75 per cent of Beijing residents
were in poor health, along with 73 per cent of those in Shanghai and Guangzhou.
(SCMP, 21.9.2004)
•
Fire-and-hire attitude costs HK $39b a year
When it comes to hiring the right people and training them for the job, Hong Kong
bosses come off worst in a survey of seven economies. Their poor hiring practices
cost them $39 billion a year – or 3 per cent of the city’s output. The alarm was raised
yesterday by British-based SHL, a manpower assessment company, which
commissioned the survey found that Hong Kong managers spent a fifth of their time
correcting mistakes made by their staff and that one in four employees left their job
before they became competent at it. The vicious cycle caused by high staff turnover
and the constant hiring of unsuitable people translated into staggering economic
losses. (SCMP, 23.9.2004)
Redaktion: Daniela Konrad
Tel. 069/ 95772 311 e-mail: [email protected]
www.hongkong-gesellschaft.de