Hong Kong
Hong Kong Boosts Land Sale Transparency to tame the city’s land prices
Under the city’s previous land tender system, only the winning bid is revealed while the amounts of other bids submitted were not disclosed
Hong Kong is learning from its all-time rival Singapore as it seeks to tame the city’s land prices.
In addition to the tender amount of the successful bidder in land sales, the Hong Kong government will now publish the amounts of all failing tender submissions, announced Secretary for Development Michael Wong in a media briefing for land sale programme in the new year.
Under the city’s previous land tender system, only the winning bid is revealed while the amounts of other bids submitted were not disclosed. Starting from April, after all transaction procedures for the successful bid are completed, the government will publish the amounts of the other tender submissions, though without identifying who made which offers.
“In view of the uniqueness of the property market, we think it may be a good time to increase the transparency of the market.”
Michael Wong, Secretary for Development,
The rule change is designed to enhance transparency, similar to Singapore’s practice of publishing an anonymous list of all tender amounts submitted.
2018 Land Sale Programme Tries to Tame Property Bidding
“In the past, there are quite, several sites, where the winning bid far exceeds the upper estimate of the market. In those situations people wonder whether the winning bid is representative of the overall bids received or is an outlier representing only itself, whereas the second or third highest bid falls far behind,” said Michael Wong, Secretary for Development in the media briefing. Source link“
China
Hong Kong’s US-Bound Exports to be Labeled ‘Made in China’
Goods produced in Hong Kong and exported to the US must be “marked to indicate that their origin is China”, according to a notice put out by US Customs and Border Protection (CBP) on August 11, 2020.
China
Hong Kong : no journalist in the world is free from China’s violent retribution
The new national security legislation China is imposing on Hong Kong could be used not only against journalists operating in Asia’s main financial hub, but against every journalist in the world says RSF

Reporters Without Borders (RSF) urges democracies to do everything in their power to compel Beijing to withdraw the law that allows it to charge any journalist writing on Hong Kong of endangering national security, an accusation that could result in life imprisonment or even the death penalty if tried in China.
(more…)Hong Kong
National security law for Hong Kong risks turning city into police state
China’s national security law for Hong Kong will put everybody in the city at risk of arbitrary detention and unfair trial unless underpinned by measures to guarantee protection of human rights, Amnesty International said today

China’s national security law for Hong Kong will put everybody in the city at risk of arbitrary detention and unfair trial unless underpinned by measures to guarantee protection of human rights, Amnesty International said today as Beijing lawmakers prepare to adopt the dangerous legislation.
(more…)-
Forex5 days ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
-
National2 days ago
Human trafficking cases in Thailand hit decade low due to COVID-19
-
Economics2 days ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
-
Banking4 days ago
Can Fintech drive a strong post-COVID-19 recovery in Asia?