China prods state firms to boost investment in crisis-hit HK

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 72%

Malaysia News News

Malaysia Latest News,Malaysia Headlines

State-owned enterprises are pledging to invest in more Hong Kong to create jobs for local citizens and stabilise financial markets. FMTNews

Beijing has been willing to put pressure on Hong Kong businesses to be more patriotic.

At the meeting, the SOEs pledged to invest more in key Hong Kong industries including real estate and tourism in a bid to create jobs for local citizens and stabilise financial markets, two of the executives said, speaking on condition of anonymity to discuss internal deliberations.The state-owned enterprises in attendance included oil giant Sinopec and conglomerate China Merchants Group, one of the sources said.

Instead of simply holding stakes in Hong Kong companies, the Chinese SOEs were also urged to look to control companies and have decision-making power in them, one of the people familiar with the meeting said. Hao, who was accompanied by a group of SOE executives, also met with Carrie Lam, the city’s chief executive.While China’s big state firms are for-profit enterprises and many are publicly traded, they have long been expected to do national service, including maintaining high levels of employment and helping Beijing execute initiatives such as its big Belt & Road infrastructure plan.

Widening mainland influence in Hong Kong has included the purchase of corporate assets and real estate.Local tycoons started to take over many of the businesses in the latter part of the 20th century, creating huge conglomerates such as Li Ka-shing’s CK Hutchison Holdings

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Minister wants to take Home Ownership Campaign to China, HKHousing and Local Government Minister says she is considering a campaign to get people in China and Hong Kong to buy unsold higher-end properties in Malaysia. FMTNews zuraida_my is unbelievable!
Source: fmtoday - 🏆 5. / 72 Read more »

Minister: Unsold high-end properties here to be offered to HK, China buyers | Malay MailKUALA LUMPUR, Sept 11 — Housing and Local Government Minister Zuraida Kamaruddin plans on taking Malaysia’s Home Ownership Campaign (HOC) to Hong Kong and China. Speaking to a press conference at the outskirts of the 2019 Smart Cities Asia Annual Conference and Exhibition, she explained that...
Source: malaymail - 🏆 1. / 86 Read more »

Putrajaya targeting China, HK buyers for RM100b in unsold high-end propertiesMinister Zuraida Kamaruddin says initiative aims to encourage China buyers to invest in local property market. 
Source: malaysiakini - 🏆 20. / 51 Read more »

Cadang jual rumah kepada warga China, HK, Zuraida digesa letak jawatanMenurut Zuraida, Kempen Pemilikan Rumah kepada pembeli dari China dan Hong Kong adalah bagi menyelesaikan isu lambakan rumah tidak terjual dan masih di peringkat cadangan. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »

Zuraida clarifies ‘confusion’ over selling properties to China, HKMinister says properties would be sold under Malaysia My Second Home scheme, not Home Ownership Campaign.
Source: malaysiakini - 🏆 20. / 51 Read more »

HOC bukan hanya untuk warganegara China, Hong KongPUTRAJAYA 12 Sept. - Cadangan penganjuran Kempen Pemilikan Rumah (HOC) terbuka kepada rakyat negara lain dan tidak terhad kepada warganegara China dan Hong Kong sahaja.
Source: UMonline - 🏆 27. / 51 Read more »