Gold will continue to rise in the Year of the Ox albeit at a slower pace than the previous two years, aided by low-interest rates, inflationary concerns and the Covid-19 pandemic, according to analysts. The price of bullion in Hong Kong rose 18 per cent in the Year of the Rat to close at HK$17,050 (US$2,200) per tael (37.8 gram) on Thursday, the last trading day before the Lunar New Year holiday. "The Year of the Ox is likely to see gold prices rising between 15 and 20 per cent to break through HK$20,000 per tael," said Haywood Cheung Tak-hay, president of the Chinese Gold and Silver Exchange Society. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. He said that with the US likely to keep interest rates at near zero for some time and other central banks adopting monetary easing policies to boost the post-pandemic economic recovery, liquidity will inevitably find its way into gold, Cheung said. The Year of
Hong Kong offers fertile ground for robo-advisory firms to grow and tap wealth management market in mainland China, Aqumon says
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China coal: why is it so important to the economy?
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Revoking of lawyers’ licences creates a chilling effect SCMP Editorial
The differences between the Hong Kong and mainland legal systems tend to be highlighted in cross-border matters. Cases in point include the recent prosecution in Shenzhen of 12 Hong Kong activists arrested while trying to flee to Taiwan from a range of charges arising from anti-government protests, including rioting, wounding, arson and possessing offensive weapons. What gave these cases added point is the new national security law, which provides for cases to be moved from Hong Kong to mainland jurisdiction if they involve complicated situations such as foreign interference or serious threats to national security.
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Former Shanghai police chief Gong Daoan expelled from Chinese Communist Party, to stand trial China’s Communist Party has expelled former Shanghai police chief Gong Daoan from its ranks. Photo: qq.com
The Communist Party has expelled former Shanghai police chief Gong Daoan from its ranks setting the stage for him to stand trial, China s top anti-corruption agency announced on Wednesday.
Gong, who was also formerly a vice-mayor, was kicked out of the Communist Party and prosecutors have taken over his case to prepare for trial, said the Central Commission for Discipline Inspection. Gong, having abandoned his ideals and convictions, had attempted to build cliques within the Party, which caused serious harm to and had bad influences on the political environment, the commission said in an announcement without naming his accomplices.