Examining Hong Kong's Economic Recession and Transformation
In the first quarter of this year, Hong Kong's gross domestic product declined by 7.8% from a year ago, the second worst outcome on record since 3Q98's -8.1% plunge. Seasonally adjusted GDP contracted by 4.3% or annualized -18.0% from the previous quarter, which was worse than any quarters during the Asian Financial Crisis. The Government revised downward substantially the full year growth estimate from the original -2.0% to -3.0% to
-5.5% to -6.5%.
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Business Community Urged Determined Action against Climate Change
The Hong Kong Business Coalition on the Environment (BCE) has urged the HKSAR Government to set concrete targets to reduce carbon and other greenhouse gas emissions and benchmark against the best practices of other metropolitan cities in developed countries. A BCE Statement on Climate Action was released at a breakfast seminar today (28 January 2010) calling for determined actions by the HKSAR Government and close collaborations with businesses and the wider community.
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The Chinese have a saying that out of chaos comes opportunity, which might explain why Xia Ruifang set up a small printing company in Shanghai at a time when China was being torn apart by internal strife and external aggression.
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Diaward Moving with the Times
Diaward mixes centuries of tradition with the latest technology
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