Hang Seng lowers HK export growth forecastHang Seng Bank lowered its forecast for Hong Kong’s export growth to 4 per cent from 6 per cent this year, citing the slowdown in the mainland’s economic expansion.新蒲崗迷你倉 It expected growth in the city’s gross domestic product to have accelerated to 3.3 per cent in the second quarter from 2.8 per cent in the first, benefiting from improving consumer spending and business investment. The bank maintained its forecast for full-year GDP growth at 3 per cent. Kanis LiState Council to allow more private banksThe State Council unveiled plans to set up more private banks to boost financial support for cash-starved smaller firms, in the latest bid to bolster the slowing economy. “We will actively develop small-sized financial institutions and open up the channel for private capital to enter the financial sector,” the cabinet said in guidelines on the government’s website. ReutersAnother mini storagean held in China Metal caseThe police commercial crime bureau made another arrest yesterday in its investigation of China Metal Recycling, which the Securities and Futures Commission has put into provisional liquidation. Police said they arrested a 47-year-old man named Chun, without giving his full name, and were keeping him overnight for interrogation. Three other people were arrested late last month, including the wife of Jacky Chun Chi-wai, the firm’s chairman. Charlotte SoShanghai jewellers fined for price fixingThe Shanghai Gold & Jewellery Trade Association and five jewellery retailers in the city were fined a total of 10.6 million yuan for manipulating gold prices in violation of antitrust law, a National Development and Reform Commission official said on state television. Hong Kong retailers Chow Tai Fook and Chow Sang Sang’s Shanghai shops had reportedly been investigated, but neither was fined. Celine Sunself storage
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