HKD

One country, one system. From the middle of next week, mainland Chinese companies listed in Hong Kong will be allowed to prepare financial statements according to Chinese accounting and auditing standards, rather than local or global norms.

It could save the rainforests of Borneo, slow climate change and the international community backs it. But a plan to pay tropical countries not to chop down trees risks being discredited by opportunists even before it starts.

A forest carbon market is emerging in anticipation of a UN climate deal in December in Copenhagen, expected to allow rich countries to pay to protect rainforests as a cheap alternative to cutting their own greenhouse gases.

Deposit rates in Hong Kong have fallen to a remarkable 0.01 per cent, and one bank has even brought it down to 0.001 per cent. This is really as close to zero as you can get. Frustrating, right?

http://www.info.gov.hk/gia/general/200903/24/P200903240266.htm

CE's speech at luncheon of Credit Suisse "Asian Investment Conference" (English only) (1) (with photos/video)
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