Two medical firms start bookbuilding
Two medical companies kicked off share sale for their initial public offerings in Hong Kong today. Photo by REUTERS
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Xi urges Communist Party to learn from pioneer of China's economic planning
Chinese President Xi Jinping urged the ruling Communist Party to learn from the legacy of early party figure Chen Yun – a pioneer of China's economic planning – in remarks on Friday to commemorate the 120th anniversary of the late statesman's birth. Advertisement Xi called on the party to have unwavering confidence when facing 'chaotic and complex turbulence', and to strengthen its ability to cut a path for China's economy with 'objective and thorough' research, according to state news agency Xinhua. The party is preparing for an annual conclave, to be held later this year, focusing on the next five-year plan covering 2026–2030 . The national economic development plan will serve as a blueprint to sharpen China's competitive edge and address weak links exposed in its rivalry with the United States. Xi made the remarks at a meeting in Beijing to mark the anniversary of Chen's birth in 1905. China's ruling party typically commemorates the birthdays of revolutionary elders every 10 years. Modern leaders often weave their policy priorities into their commemoration speeches as a way to rally the party and draw inspiration from the elder statesman's political legacy. Advertisement
South China Morning Post
an hour ago
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Hong Kong to explore need for new law covering building repairs by landlords
Hong Kong's Urban Renewal Authority will examine whether legislation should be introduced requiring landlords to create periodic maintenance plans for their blocks and ensure sufficient funds for the work. The study would also cover the possibility of creating a new statutory body to supervise building restoration and maintenance, according to the authority's retiring head, Wai Chi-sing. Wai stressed the importance of 'preventive maintenance' by homeowners while also pledging the authority would play a 'facilitator's' role to study ways to extend the lifespan of buildings. He outlined the ideas in a blog entry published on the authority's website on his final day as the authority's managing director on Saturday. Wai said the authority would embark on a study for the New Strategy for Building Rehabilitation 2.0 this year, following the completion of the previous one in 2020. 'Specifically, we will explore whether to require landlords to formulate periodic maintenance and repair plans for their buildings, and to formulate arrangements for budgeting and contributions to maintenance funds through making laws or amending relevant regulations related to building maintenance,' Wai wrote.
South China Morning Post
an hour ago
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Activist investor David Webb awarded MBE for contributions to Hong Kong
Hong Kong corporate governance activist David Webb has been appointed a Member of the Order of the British Empire for his nearly three decades of contributions to the city, with the Briton saying he felt touched by the many tributes during his 'final battle'. The former investment banker posted on his Webb-site platform on Saturday that he was delighted the United Kingdom government, 'with its keen interest in Hong Kong affairs', had recognised his efforts in the city over the past 27 years by appointing him as a member of the Order of the British Empire (MBE). Webb's name can be found on this year's King's birthday honours list of overseas and international recipients, published late Friday night in the UK, 'for services to raising standards of corporate economic governance, particularly in Hong Kong', according to the list. 'I am of course delighted … What matters to me most though is how my work is perceived by the people of Hong Kong and beyond, and I've been deeply touched by their many tributes over the last few months as I began to withdraw from public life and prepare for my final battle,' Webb said. 'The honour also means a lot to my family, who have supported me so well along this journey.' He ended his message by signing off with 'carpe diem' and ga yau – encouragements in Latin and Cantonese, urging people to put in their all and live life to the fullest.
