PRESS DIGEST - Top stories in Hong Kong and mainland China newspapers on February 11
These are the leading stories in Hong Kong and mainland newspapers and websites on Wednesday. The South China Morning Post has not verified these stories.
The market capitalisation of US technology giant Apple reached US$700 billion on Tuesday, when the Apple stock hit a record high of US$122.15. It closed at HK$122.02, up 1.92 per cent, taking the company’s market value to US$710.7 billion. Apple chief executive Tim Cook, meanwhile, said the company has invested US$850 million in a solar power plant in Monterey, San Francisco. (Tencent Finance)
A central bank official for the first time said the development of online finance should be supported. Lu Lei, chief of the research department of the People’s Bank of China, said online finance will channel capital into micro and small enterprises, and bring in a greater variety of financial services. (Shanghai Securities News)
As the Lunar New Year draws closer, the “red envelope war” between Alibaba and Tencent is heating up. Alipay, e-commerce giant Alibaba’s online payment affiliate, announced that it will offer 600 million yuan as lai see subsidy for users. Shenzhen-based Tencent, meanwhile, said it will offer 500 million yuan. (The Beijing News)
Mainland brokerage Founder Securities announced on the Shanghai Stock Exchange website that its board will host a general meeting in Changsha on February 27. Its second-largest shareholder, Beijing Zenith Holdings, meanwhile, will cancel a general meetings scheduled on February 16. Founder Securities and property developer Zenith have been fighting a bitter war for the control of the board. (Caixin)
A research by FedEx shows 96 per cent of Hongkongers have made purchases on the internet, compared with 72 per cent in the Asia-Pacific region and 69 per cent globally. FedEx conducted the survey in 17 countries and regions, and interviewed 500 people in Hong Kong. The survey also shows 74 per cent of Hong Kong buyers want their goods within a week of placing their orders. (Hong Kong Economic Journal)
