PRESS DIGEST-Hong Kong - Oct 2

Reuters

HONG KONG, Oct 2 (Reuters) - These are some of the leadingstories in Hong Kong newspapers on Wednesday. Reuters has notverified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Nearly half of urban residents in China own smartphonesand 60 percent of them would give up their television setsrather than their phones, says a report. "Our Mobile Planet:China," conducted by Google and research firm IPSOS, said 69percent of respondents said they accessed the Internet everydayon their smartphones. ()

-- Ctrip.com International, the mainland's largest onlinetravel agency, may be an unintended beneficiary of the proposedUS$125 million initial public offering by Qunar.com, the leadingChinese travel search engine controlled by Baidu. Abigger Qunar platform after the stock listing is likely to driveeven more business to Shanghai-based Ctrip. ()

THE STANDARD

-- Hong Kong jewellers are expected to benefit fromBeijing's possible easing of limits on gold imports that wouldallow mainlanders to bring more of the precious metal across theborder without paying levy. Only those carrying more than 200grams of gold each time will be taxed after clearingimmigration, according to a People's Bank of China draft rulewhich is under consultation. The current import limit is 50grams. ()

HONG KONG ECONOMIC JOURNAL

-- Electricity supplier Power Assets Holdings Ltd is bidding for a 50 percent stake in Marchwood Power, a jointventure between Scottish and Southern Energy and ESBInternational, in the United Kingdom as the Hong Kong-listedcompany further expands its overseas investment, according tosources.

-- Chinese ship builder Guangzhou Shipyard International CoLtd said it planned to issue 387 million Hshares, raising HK$2.82 billion to fund acquisitions and forworking capital.

MING PAO DAILY NEWS

-- New World Development is set to raiseUS$700-800 million from a spinoff of its hotel business in HongKong, with trading in shares expected to begin by end-October,while Kerry Properties Ltd's logistics spinoff isaimed to list before Christmas, according to sources.

For Chinese newspapers, see...............

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