Chief Executive submits political development report
On December 12, Hong Kong Chief Executive Donald Tsang submitted to the National People’s Congress Standing Committee (NPCSC) a report that summarizes the views received during the three-month public consultation exercise on the models, roadmap and timetable for implementing universal suffrage for the Chief Executive and the Legislative Council.

With regard to the public’s views on Hong Kong’s political development and in accordance with the Basic Law, Mr. Tsang requested the Standing Committee to confirm that the methods for selecting the Chief Executive and for forming the Legislative Council in 2012 may be amended.

Hong Kong has many strengths as Asia’s hedge-fund hub
A decade ago, it would have been rather controversial to talk about hedge funds, given the Asian economies were hard hit by a severe financial crisis widely believed to be triggered by a group of aggressive hedge funds at that time.

Today, the hedge-fund industry has become an important driving force in the global financial markets. At present, there are about 10,000 hedge funds around the world with assets under management amounting to US$2.5 trillion.

Government to install
more free Wi-Fi
Hong Kong took a great step forward in providing the public with convenient and free access to wireless Internet facilities when it signed a contract December 7 with PCCW-HKT Network Services.

Hong Kong Special Administrative Region Government's Chief Information Officer Howard Dickson said the government envisions making broadband Internet services available to all residents, whether at home or on the move.

“The GovWiFi program is one of the many initiatives to be taken forward in leading towards the vision,” he said.