GBA News: 8/11/2021

HK youth believe rule of law eroded

About seven in 10 young people have less confidence in the rule of law in Hong Kong than they did before the 2019 social unrest, a survey by an influential youth group has found. Some 45 per cent also said they believed the government could exert influence on the courts, and close to three in 10 indicated they would not follow laws they deemed unreasonable. A total of 529 residents aged from 15 to 34 were interviewed, about half of whom had a university qualification or above. SCMP

HK justice chief unfazed by landmark court ruling

Hong Kong’s Secretary for Justice, Teresa Cheng Yeuk-wah, has weighed in on rulings concerning illegal assembly and riots by the city’s top court, warning those who were not present at a disturbance could still be dealt with through other means. The landmark decision, delivered by the Court of Final Appeal last Thursday, prompted Cheng to say she would “assist the general public in learning the legal principles set out in the judgment”. SCMP

HK finance chief sees no reason for more spending

Hong Kong will run a smaller deficit than expected this financial year because of increased income from land sales, but it will not translate into major spending increases, Financial Secretary Paul Chan Mo-po said. Revenue from land sales hit HK$40 billion (US$5.1 billion) as of last month – a record high – following the sale of several prime urban sites. Those sales fuelled confidence in the property markets which, in turn, prompted developers to pay a premium for development projects, he said. SCMP

Shenzhen to add 1m more parking spaces

Shenzhen’s city government has set a target of adding 1 million more parking spaces in the current Five-Year Plan, which would close the gap with the 3.5 million registered cars in the city. SZNews

Macau govt budget for next year called ‘cut and paste’

Analysts have poured cold water on the Macau government’s budget forecast for next year, saying neither its revenue forecasts nor its expense assumptions are realistic. One even described the budget as a “cut and paste” job from the current year. The government has set a target of 130 billion patacas for revenues in 2022, which is the same as it set this year. However, most analysts think this year’s revenues, heavily affected by the Covid-19 situation, will more likely come in around 90 billion patacas. MDT

Macau revenues rise, as Shenzhen promotions continue

Macau’s post-Covid recovery continued last week, with estimates for gaming revenues rising 12% week-on-week, as the government continued to promote the tourism industry in Shenzhen. Macau-related gaming stocks listed in Hong Kong rose on general optimism for travel and tourism-related industries. MDT

Dongguan cross-border e-commerce jumps

From January to September this year, Dongguan’s cross-border e-commerce import and export volume exceeded 50 billion yuan, a year-on-year increase of over 150%. This compares to 38.056 billion yuan for the whole of 2020, of which 36.218 billion yuan was exported and 1.838 billion yuan was imported. DGT

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