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-- Over 250 senior financiers gathered to hear from Professor Chan, Ashley Alder, the Chief Executive Officer of the Securities and Futures Commission of Hong Kong and Peter Pang, Deputy Chief Executive of the Hong Kong Monetary Authority

-- Senior representatives from Allianz Global Investors, BlackRock Asset Management, HSBC Hong Kong, PingAn of China Asset Management and Harvest Global Investments as well as the financial regulators of Hong Kong also spoke about the benefits of doing business in Hong Kong

NEW YORK, March 15,2012 /PRNewswire/ -- Speaking to an audience of over 250 senior financial services executives at the opening of the New York conference, Professor Chan said, "As the world searches for growth, Hong Kong continues to offer unrivalled advantages and opportunities to businesses wanting to seize the Eastern advantage. Hong Kong with its prime location and international connectivity has long been serving as a gateway for businesses into and out of Mainland China.

"As China's premier city for global finance and a tried and trusted testing ground for new ideas throughout China's economic reform, Hong Kong is the natural choice for piloting the liberalisation of the RMB. The three key areas of offshore RMB business that Hong Kong is developing are banking, capital-raising and trade settlement. Our RMB offshore platform is not just for the benefit and convenience of Hong Kong and China. It is designed to benefit everyone who wishes to embrace China's latest development miracle."

Professor K.C. Chan, Secretary for Financial Services and the Treasury of the HKSAR Government, was the keynote speaker at today's conference in New York. His speech was followed by two panel discussions among senior business representatives:

Peter Pang, Deputy Chief Executive of the Hong Kong Monetary Authority, who led the panel discussion on the deepening of Hong Kong's renminbi market, said: "Since the launch of RMB banking in Hong Kong in 2004, RMB deposits in Hong Kong have grown to around RMB 576 billion as at the end of January 2012. That is about 1.6 times the amount a year earlier and is testament to the attractiveness of Hong Kong's unique advantages to businesses the world over."

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Professor K.C. Chan, Secretary for Financial Services and the Treasury, Invites New York's Financiers to Sample the ...

Halul Offshore secures QR220mn, 8-year ship financing from SMBC Halul Offshore Services Company, a wholly-owned subsidiary of Milaha (Qatar Navigation), has secured an eight-year $60mn (QR220mn) ship financing from Sumitomo Mitsui Banking Corporation (SMBC). The financing was arranged by Milaha Capital, another wholly-owned Milaha subsidiary which provides corporate finance advisory services to the group as part of its mandate. SMBC is acting as mandated lead arranger, facility agent, security agent and hedging bank. The financing agreement was signed by Sheikh Ali bin Jassim bin Mohamed al-Thani, chairman and managing director of Milaha; and Phillippe Devos, CEO of SMBC Dohas QFC Office. The company will continue to expand its fleet capacity and with this facility, we will be in a stronger position to compete with other industry majors, Sheikh Ali said. Highlighting the commitment of SMBC group to supporting the Qatari shipping and offshore industries, Stanislas Roger, global head of shipping at SMBC, said, We look forward to continue working closely with Milaha on the financing of key investment projects. Ismail al-Emadi, executive vice president for offshore at Milaha said, Over the coming years, we intend to expand our offshore services segment in the region and beyond and this facility significantly enhances the ability to execute our strategy. Halul, which has strong capital expenditure plans for the coming years, is planning to acquire several new vessels including diving support vessels, anchor handling tugs, construction vessels and well-head maintenance/wireline support vessels.Halul acquired two vessels in 2010 and three in 2011 and early 2012. It is looking to add two more vessels to its fleet in 2012, a spokesman said.

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Halul Offshore secures QR220mn, 8-year ship financing from SMBC

Overseas investors are snapping up properties in Canada's largest cities, driving up prices and pushing ordinary Canadians out of the housing market, observers say.

Real estate experts call it the "new reality," and the high price paid for a north Toronto bungalow is the latest evidence.

This month, the three-bedroom bungalow, circa the 1960s and without much updating, sold for $421,800 over the asking price, creating a buzz among agents and other buyers.

Located in Willowdale, where similar detached houses typically sell for just short of $900,000, the bungalow at 300 Dudley Ave. was listed at $759,000.

The winning bid of $1,180,800 came from a university student whose parents live in China and own a business in San Francisco. There were four other bids of more than $1 million.

"The initial response was quite vociferous," said Michael Adelson, a Re/Max agent who represented the seller and received several phone calls about the deal after it was done.

"There's a lot of anger among Canadians who earn money here that they've been priced out of the market. There is some degree of anxiety about how people are going to compete with these hyper-inflated prices."

Adelson declined to discuss the specifics of the Willowdale deal, citing client confidentiality.

But CBC business commentator Michael Hlinka called the deal "outrageous and borderline bizarre."

The strong reaction to the price likely stems from how it changes the vision of affordability for average Canadians, he said.

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Offshore bids price Canadians out of housing market

By Chris Moore - March 15, 2012 | Tickers: AAPL, BIDU, GOOG, INTC, SINA, SOHU, TUDO, VZ, YOKU | 0 Comments

Chris is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.

China is a huge country by almost any metric you choose. Theyre the second largest economy, have the largest total population, the greatest number of cell phone users, internet users, and rank in the top 5 in terms of total landmass. What makes investing in China particularly interesting is the fact that its people are achieving greater and greater wealth across the board and the middle class is growing rapidly and so is demand for the internet and web services of all sorts. Given my personal preference for tech stocks, I've been spurred to take a look at what China has to offer, weighing the pros and cons of investment.

First the pros:

The math is pretty enticing, a large number of people in China have yet to obtain access to the internet, and when they do, companies like Baidu (NASDAQ: BIDU), Renren, Sohu.com, and Sina (NASDAQ: SINA) are likely to be the places they frequent. This is particularly appealing given the fact that each of these companies already boasts millions of users on top of being poised to gain more.

Total Number of Internet Users in China and the US

Even though the chart above ends at 2010, it is clear Chinas current population with internet access is on pace to more than double that of the U.S. and likely already has. According to Analysys International the number of Chinese mobile internet users was 400 million in the third quarter of 2011, where the global total for mobile internet users is somewhere around 1.2 billion for 2011, according to the International Telecommunication Union. The Chinese market is already very large, but even more importantly; the major Chinese internet companies have control of the market, thanks in part to their restrictive government. Companies like Baidu and Sina benefit enormously from the absence of their U.S. counterparts. For instance, in the global search market, Google (NASDAQ: GOOG) is the leader by a wide margin, with Baidu in second place with just 11% of the market.

In China, however, the tables are turned, due to Googles smaller presence within the borders.

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Investing in China’s Internet Boom

14-03-2012 08:45 How agents can intelligently position themselves to develop new business listings and sales on autopilot.

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Real Estate Agents Internet Marketing101 - Video