Hong Kong economy grows 6.3%

HONG KONG’S gross domestic product in 2007 rose 6.3 percent year on year, marking a fourth year of rapid growth, the Census and Statistics Department of the Hong Kong Special Administrative Region Government said Tuesday.

The Census and Statistics Department said the growth was “in real terms,” adding that it adopted volume measures, which “enable analysis of the growth profiles of individual economic sectors in real terms, by removing the effect of price changes.” The GDP growth for the fourth quarter in 2007 was 6.7 percent, it added.

Nation to spend more on environment

THE government plans to spend 27 billion yuan (US$3.8 billion) this year on reducing pollution and saving energy, domestic media said Tuesday, a rise of 14.9 percent from a year ago.

In addition, the Central Government will earmark 14.8 billion yuan for environmentally friendly construction projects, the China Daily said, citing a statement by the finance ministry.

Airlines merger suggested

AIR China’s former chairman Li Jiaxiang has proposed the creation of a super-carrier via his company’s acquisition of smaller rivals.

He suggested that China should create a State holding company that would control the assets of its top three airlines to better compete with global rivals. Under this plan, the holding company would control the assets of China Southern Airlines, China Eastern Airlines and Air China.

First international seed expo

CHINA will hold its first international seed expo in Shengyang in Liaoning Province in September, according to the China Council for the Promotion of International Trade (CCPIT).

To be held Sept. 10 to 12, the expo will aim to ensure better international exchange in the seed industry, according to Wan Baorui, chief of the CCPIT-specialized sub-council of agriculture, the expo organizer.