A leading Financial Times journalist has been given seven days to leave Hong Kong as a backlash mounted Monday against an unprecedented challenge to freedom of the press in the city.

Victor Mallet, the FT's Asia news editor and a British national, angered authorities in Beijing and Hong Kong by hosting a speech at the city's press club by Andy Chan, the leader of a tiny pro-independence political party.

Chan's party has since been banned as Beijing cracks down on any pro-independence sentiment in the semi-autonomous city.&nbsp;

Last week it emerged Mallet's application for a renewal of his work visa had been rejected by Hong Kong immigration authorities.&nbsp;

On Monday the FT said Mallet had only been granted a seven-day visitor visa after returning to the city from a trip on Sunday.&nbsp;

Sources with direct knowledge of the situation told AFP that Mallet was questioned at immigration and was refused automatic entry.

British citizens are usually allowed into Hong Kong without a visa and are permitted to stay for 180 days under immigration rules.

The FT said immigration officials had provided no explanation for the shortened visitor visa.&nbsp;

"We continue to seek clarification from the Hong Kong authorities about the rejection of his work visa renewal," said the paper, which has its regional headquarters in Hong Kong.

The FT's editorial board had earlier described the decision to refuse Mallet a work visa as sending a "chilling message to everyone in Hong Kong" that highlighted the erosion of the basic rights and legal protections that had drawn international firms to base themselves in the city.

There are fears that a growing disregard for rights enshrined in the handover agreement will undermine the city's standing as a business hub.&nbsp;

The American Chamber of Commerce said any effort to curtail press freedom "could damage Hong Kong's competitiveness as a leading financial and trading center", describing a free press as a "core component" of the city's success.

Lawyers hit back&nbsp;

In a strident speech in August at the city's Foreign Correspondents' Club (FCC), where Mallet serves as vice president, independence activist Chan attacked China as an empire trying to "annex" and "destroy" Hong Kong.

China's foreign ministry had asked the club to pull the talk, but the FCC refused, arguing that all sides of a debate should be heard and that it hosted a variety of speakers, including Chinese officials. &nbsp;

Britain and the United States have expressed concern over the visa refusal and its impact on press freedom.&nbsp;

On Monday, a group of the city's most influential lawyers also hit back.

"Such rejection calls for an explanation in light of its unprecedented nature and its profound impact on Hong Kong's press freedom," 30 lawyers said in a statement.&nbsp;

The group makes up the legal subsector of the electoral committee that chooses the city's leader.

Another legal organisation, the Progressive Lawyers Group, said: "Any forced retreat of foreign media outlets would be a tragic loss for Hong Kong and must be vigilantly guarded against".

A journalists' alliance handed over petitions with more than 15,000 signatures to the government Monday calling for an explanation of its visa rejection.

Hong Kong immigration authorities said they had no immediate comment.

China's foreign ministry has said it supports Hong Kong "in handling the related matters in accordance with law", and warned other countries not to interfere.&nbsp;

"It is indisputable that the Hong Kong government exercises its legitimate rights in accordance with China's own laws, whether it be national laws, or basic laws of the HKSAR," Chinese foreign ministry spokesman Lu Kang said at a regular press briefing Monday.

A leading Financial Times journalist has been given seven days to leave Hong Kong as a backlash mounted Monday against an unprecedented challenge to freedom of the press in the city.

A leading Financial Times journalist has been given seven days to leave Hong Kong as a backlash mounted Monday against an unprecedented challenge to freedom of the press in the city. Victor Mallet, the FT's Asia news editor and a British national, angered authorities in Beijing and Hong Kong by hosting a speech at the city's press club by Andy Chan, the leader of a tiny pro-independence political party. Chan's party has since been banned as Beijing cracks down on any pro-independence sentiment in the semi-autonomous city. Last week it emerged Mallet's application for a renewal of his work visa had been rejected by Hong Kong immigration authorities. On Monday the FT said Mallet had only been granted a seven-day visitor visa after returning to the city from a trip on Sunday. Sources with direct knowledge of the situation told AFP that Mallet was questioned at immigration and was refused automatic entry. British citizens are usually allowed into Hong Kong without a visa and are permitted to stay for 180 days under immigration rules. The FT said immigration officials had provided no explanation for the shortened visitor visa. "We continue to seek clarification from the Hong Kong authorities about the rejection of his work visa renewal," said the paper, which has its regional headquarters in Hong Kong. The FT's editorial board had earlier described the decision to refuse Mallet a work visa as sending a "chilling message to everyone in Hong Kong" that highlighted the erosion of the basic rights and legal protections that had drawn international firms to base themselves in the city. There are fears that a growing disregard for rights enshrined in the handover agreement will undermine the city's standing as a business hub. The American Chamber of Commerce said any effort to curtail press freedom "could damage Hong Kong's competitiveness as a leading financial and trading center", describing a free press as a "core component" of the city's success. Lawyers hit back In a strident speech in August at the city's Foreign Correspondents' Club (FCC), where Mallet serves as vice president, independence activist Chan attacked China as an empire trying to "annex" and "destroy" Hong Kong. China's foreign ministry had asked the club to pull the talk, but the FCC refused, arguing that all sides of a debate should be heard and that it hosted a variety of speakers, including Chinese officials. Britain and the United States have expressed concern over the visa refusal and its impact on press freedom. On Monday, a group of the city's most influential lawyers also hit back. "Such rejection calls for an explanation in light of its unprecedented nature and its profound impact on Hong Kong's press freedom," 30 lawyers said in a statement. The group makes up the legal subsector of the electoral committee that chooses the city's leader. Another legal organisation, the Progressive Lawyers Group, said: "Any forced retreat of foreign media outlets would be a tragic loss for Hong Kong and must be vigilantly guarded against". A journalists' alliance handed over petitions with more than 15,000 signatures to the government Monday calling for an explanation of its visa rejection. Hong Kong immigration authorities said they had no immediate comment. China's foreign ministry has said it supports Hong Kong "in handling the related matters in accordance with law", and warned other countries not to interfere. "It is indisputable that the Hong Kong government exercises its legitimate rights in accordance with China's own laws, whether it be national laws, or basic laws of the HKSAR," Chinese foreign ministry spokesman Lu Kang said at a regular press briefing Monday.

FT journalist given seven days to leave Hong Kong

Hong Kong's decision to effectively blacklist a senior Financial Times journalist required an "urgent explanation", the UK said Saturday, as foreign governments sounded the alarm over eroding freedoms in the former British colony.

Victor Mallet, the FT's Asia news editor and a British national, earned the ire of authorities for hosting a speech by Andy Chan, the leader of a tiny pro-independence political party.

Chan attacked China as an empire trying to "annex" and "destroy" Hong Kong in a strident speech at the city's Foreign Correspondents' Club (FCC), where Mallet serves as vice president.

China's foreign ministry had asked the club to pull the talk, but the FCC refused, arguing that all sides of a debate should be heard. 
Rival protesters picketed the lunchtime event and the city's former leader Leung Chun-ying called for the club to be evicted from its government-owned premises.

The FT said Friday that immigration authorities in Hong Kong had declined to renew Mallet's visa, a decision rights groups and media organisations said was unprecedented.

"We have asked the Hong Kong government for an urgent explanation," the UK's Foreign and Commonwealth Office said in a statement.&nbsp;

"Hong Kong's high degree of autonomy and its press freedoms are central to its way of life, and must be fully respected."

'Disturbing'&nbsp;

Semi-autonomous Hong Kong enjoys rights unseen on the mainland, including freedom of expression, which are protected in the city's Basic Law and the handover agreement between China and Britain.

But the space for dissent is shrinking as Beijing flexes its muscles.

Hong Kong authorities last week banned Chan's Hong Kong National Party, calling it a threat to national security.

It was the first ban on a political party since the territory reverted to Chinese control in 1997.

The US consulate said Mallet's visa denial was "especially disturbing".

"It mirrors problems faced by international journalists in the Mainland and appears inconsistent with the principles enshrined in the Basic Law," US consulate general spokesman Harvey Sernovitz told AFP.

Hong Kong's last British governor Chris Patten said the move was a "serious blow against free speech" as well as defying the promise of a high degree of autonomy made to the city when it was handed back to China by Britain in 1997.&nbsp;

"The Hong Kong and Beijing authorities should think again and fast," Patten told AFP.

A handful of demonstrators rallied outside Hong Kong's immigration department on Saturday morning to protest the decision.&nbsp;

"No political red line. We support free press," protesters chanted as they shredded a strip of red fabric to create a long ribbon.

The slogan was in response to comments by Hong Kong's former leader Leung Chun-ying -- whose administration faced down major youth-led democracy protests in 2014 -- that discussion of Hong Kong independence "is an absolute and clear red line".

The decision to deny Mallet a new visa was welcomed by pro-Beijing media in the city, however.

A commentary in the Ta Kung Pao newspaper said the veteran journalist had to "pay the price" for giving exposure to Hong Kong's fringe independence movement, and said authorities may still act to evict the FCC from the premises it has occupied since 1982.

Hong Kong's decision to effectively blacklist a senior Financial Times journalist required an "urgent explanation", the UK said Saturday, as foreign governments sounded the alarm over eroding freedoms in the former British colony.

Hong Kong's decision to effectively blacklist a senior Financial Times journalist required an "urgent explanation", the UK said Saturday, as foreign governments sounded the alarm over eroding freedoms in the former British colony. Victor Mallet, the FT's Asia news editor and a British national, earned the ire of authorities for hosting a speech by Andy Chan, the leader of a tiny pro-independence political party. Chan attacked China as an empire trying to "annex" and "destroy" Hong Kong in a strident speech at the city's Foreign Correspondents' Club (FCC), where Mallet serves as vice president. China's foreign ministry had asked the club to pull the talk, but the FCC refused, arguing that all sides of a debate should be heard. Rival protesters picketed the lunchtime event and the city's former leader Leung Chun-ying called for the club to be evicted from its government-owned premises. The FT said Friday that immigration authorities in Hong Kong had declined to renew Mallet's visa, a decision rights groups and media organisations said was unprecedented. "We have asked the Hong Kong government for an urgent explanation," the UK's Foreign and Commonwealth Office said in a statement. "Hong Kong's high degree of autonomy and its press freedoms are central to its way of life, and must be fully respected." 'Disturbing' Semi-autonomous Hong Kong enjoys rights unseen on the mainland, including freedom of expression, which are protected in the city's Basic Law and the handover agreement between China and Britain. But the space for dissent is shrinking as Beijing flexes its muscles. Hong Kong authorities last week banned Chan's Hong Kong National Party, calling it a threat to national security. It was the first ban on a political party since the territory reverted to Chinese control in 1997. The US consulate said Mallet's visa denial was "especially disturbing". "It mirrors problems faced by international journalists in the Mainland and appears inconsistent with the principles enshrined in the Basic Law," US consulate general spokesman Harvey Sernovitz told AFP. Hong Kong's last British governor Chris Patten said the move was a "serious blow against free speech" as well as defying the promise of a high degree of autonomy made to the city when it was handed back to China by Britain in 1997. "The Hong Kong and Beijing authorities should think again and fast," Patten told AFP. A handful of demonstrators rallied outside Hong Kong's immigration department on Saturday morning to protest the decision. "No political red line. We support free press," protesters chanted as they shredded a strip of red fabric to create a long ribbon. The slogan was in response to comments by Hong Kong's former leader Leung Chun-ying -- whose administration faced down major youth-led democracy protests in 2014 -- that discussion of Hong Kong independence "is an absolute and clear red line". The decision to deny Mallet a new visa was welcomed by pro-Beijing media in the city, however. A commentary in the Ta Kung Pao newspaper said the veteran journalist had to "pay the price" for giving exposure to Hong Kong's fringe independence movement, and said authorities may still act to evict the FCC from the premises it has occupied since 1982.

 UK seeks 'urgent explanation' as Hong Kong bans journalist

According to Hong Kong University, a man has developed the world's first case of the rat version of hepatitis E virus.

<a href="http://www.wionews.com/india-news/rat-fever-grips-flood-hit-kerala-leptospirosis-claims-28-lives-alert-sounded-163062">Also Read: Rat fever grips flood-hit Kerala;&nbsp;Leptospirosis claims 28 lives</a>

The man who is reportedly 56-years-old had undergone a liver transplant due to persistent abnormal liver function tests. The University of Hong Kong said there was no previous evidence the disease could transfer from rats to humans.

"This study conclusively proves for the first time in the world that rat HEV can infect humans to cause clinical infection," the university said in a statement.

He could have contracted the illness through food infected by rat droppings, researchers said.

The patient was treated with an oral medication known as ribavirin and is recovering, reports said. Symptoms of hepatitis E virus include&nbsp;fever, vomiting and jaundice, and in rare cases liver failure and death.

According to the World Health Organization(WHO), hepatitis E, a liver disease, which is normally spread through contaminated drinking water affects 20 million people globally each year.

WHO estimated that nearly 44, 000 people died of Hepatitis E in 2015, accounting for 3.3% of mortality due to viral hepatitis.

The World health body in its report said although the disease is found worldwide but it is highest in South and East Asia. A vaccine for the disease has been developed in China but it is not avaliable anywhere else, according to WHO.

It commonly occurs in countries with limited access to water sanitation and health services, according to a WHO report.

Rat hepatitis E virus is very distantly related to human hepatitis E virus variants, Hong Kong Unitersity said. The Hong Kong University will be releasing more information about the case on Friday.

In France, researches had said they had found traces of hepatitis E in pork.

In Kerala, during the recent floods, suspected cases of leptospirosis, a waterborne disease known locally as 'rat fever' had hit 800 patients. Transmitted via the urine of infected animals, its symptoms include muscle pain and fever. At least 12 people had died due to the disease.

Hong Kong has been facing persistent rodent problem in the past year because of hot and humid condictions. The country was hit by the deadly Severe acute respiratory syndrome (SARS) virus in 2003 which started from China caused severe respiratory problems in humans.

According to Hong Kong University, a man has developed the world's first case of the rat version of hepatitis E virus. Also Read: Rat fever grips flood-hit Kerala; Leptospirosis claims 28 lives The man who is reportedly 56-years-old had undergone a liver transplant due to persistent abnormal liver function tests.

According to Hong Kong University, a man has developed the world's first case of the rat version of hepatitis E virus. Also Read: Rat fever grips flood-hit Kerala; Leptospirosis claims 28 lives The man who is reportedly 56-years-old had undergone a liver transplant due to persistent abnormal liver function tests. The University of Hong Kong said there was no previous evidence the disease could transfer from rats to humans. "This study conclusively proves for the first time in the world that rat HEV can infect humans to cause clinical infection," the university said in a statement. He could have contracted the illness through food infected by rat droppings, researchers said. The patient was treated with an oral medication known as ribavirin and is recovering, reports said. Symptoms of hepatitis E virus include fever, vomiting and jaundice, and in rare cases liver failure and death. According to the World Health Organization(WHO), hepatitis E, a liver disease, which is normally spread through contaminated drinking water affects 20 million people globally each year. WHO estimated that nearly 44, 000 people died of Hepatitis E in 2015, accounting for 3.3% of mortality due to viral hepatitis. The World health body in its report said although the disease is found worldwide but it is highest in South and East Asia. A vaccine for the disease has been developed in China but it is not avaliable anywhere else, according to WHO. It commonly occurs in countries with limited access to water sanitation and health services, according to a WHO report. Rat hepatitis E virus is very distantly related to human hepatitis E virus variants, Hong Kong Unitersity said. The Hong Kong University will be releasing more information about the case on Friday. In France, researches had said they had found traces of hepatitis E in pork. In Kerala, during the recent floods, suspected cases of leptospirosis, a waterborne disease known locally as 'rat fever' had hit 800 patients. Transmitted via the urine of infected animals, its symptoms include muscle pain and fever. At least 12 people had died due to the disease. Hong Kong has been facing persistent rodent problem in the past year because of hot and humid condictions. The country was hit by the deadly Severe acute respiratory syndrome (SARS) virus in 2003 which started from China caused severe respiratory problems in humans.

World's first human case of rat disease detected in Hong Kong

Asian shares stumbled in holiday-thinned trading on Monday as China's decision to cancel talks with the United States reinforced fears of a protracted trade war with neither side willing to back down.

<a href="http://www.wionews.com/world/fresh-200-billion-us-tariffs-chinese-goods-take-effect-167350">Also</a><a href="http://www.wionews.com/world/fresh-200-billion-us-tariffs-chinese-goods-take-effect-167350"> Read:&nbsp;Fresh $200 billion US tariffs on Chinese goods take effect</a>

Oil prices jumped after top producers ruled out boosting crude output.

US stock futures were a touch weaker while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8 per cent. Hong Kong was the worst performer with its Hang Seng index down 1.3 per cent.

Most of Monday's limited action was in currencies, as share markets in major Asian centres Japan, China and South Korea were closed for a holiday. But with domestic trading in respective countries shut, even forex trading was light.

Investors were squarely focused on the China-US trade war as China added $60 billion of US products to its import tariff list, retaliating against US duties on $200 billion of Chinese goods that came into effect at 0401 GMT Monday.

China also cancelled mid-level trade talks with the United States, as well as a proposed visit to Washington by Vice Premier Liu He originally scheduled for this week, the Wall Street Journal reported.

The United States, meanwhile, does not have a date for further talks.

The intensifying dispute between the world's two biggest economies has spooked financial markets worried about the fallout on global growth.

The Japanese yen, which sees fund inflows during times of crisis, held above a recent two-month trough at 112.6 per dollar while the trade-sensitive Australian dollar slipped from a 3-1/2 week top to $0.7268.

"Both the US and China are digging in, and increasingly the subtext seems to be as much about advancing a trade ideology as it is about rescinding trade tariffs," said John Bilton, head of global multi-asset strategy at JPMorgan Asset Management.

"As a result, both the extent and depth of any economic impact are being recalibrated," Bilton said.

"So while we continue to be constructive on the global economy over the coming quarters, it is hard to see the current surge in US activity morphing into another period of coordinated global growth."

There was some optimism generally about Chinese growth as authorities in Beijing step up policy stimulus to offset the economic impact of the tariffs.

Chinese Premier Li Keqiang said over the weekend China will cut import and export costs for foreign firms as it looks to promote an image of being open for business.

Britain's negotiation with European Union will be another key issue for investors, with risks of a 'no deal' or 'hard Brexit' shooting up again.

Asian shares stumbled in holiday-thinned trading on Monday as China's decision to cancel talks with the United States reinforced fears of a protracted trade war with neither side willing to back down.

Asian shares stumbled in holiday-thinned trading on Monday as China's decision to cancel talks with the United States reinforced fears of a protracted trade war with neither side willing to back down. Also Read: Fresh $200 billion US tariffs on Chinese goods take effect Oil prices jumped after top producers ruled out boosting crude output. US stock futures were a touch weaker while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8 per cent. Hong Kong was the worst performer with its Hang Seng index down 1.3 per cent. Most of Monday's limited action was in currencies, as share markets in major Asian centres Japan, China and South Korea were closed for a holiday. But with domestic trading in respective countries shut, even forex trading was light. Investors were squarely focused on the China-US trade war as China added $60 billion of US products to its import tariff list, retaliating against US duties on $200 billion of Chinese goods that came into effect at 0401 GMT Monday. China also cancelled mid-level trade talks with the United States, as well as a proposed visit to Washington by Vice Premier Liu He originally scheduled for this week, the Wall Street Journal reported. The United States, meanwhile, does not have a date for further talks. The intensifying dispute between the world's two biggest economies has spooked financial markets worried about the fallout on global growth. The Japanese yen, which sees fund inflows during times of crisis, held above a recent two-month trough at 112.6 per dollar while the trade-sensitive Australian dollar slipped from a 3-1/2 week top to $0.7268. "Both the US and China are digging in, and increasingly the subtext seems to be as much about advancing a trade ideology as it is about rescinding trade tariffs," said John Bilton, head of global multi-asset strategy at JPMorgan Asset Management. "As a result, both the extent and depth of any economic impact are being recalibrated," Bilton said. "So while we continue to be constructive on the global economy over the coming quarters, it is hard to see the current surge in US activity morphing into another period of coordinated global growth." There was some optimism generally about Chinese growth as authorities in Beijing step up policy stimulus to offset the economic impact of the tariffs. Chinese Premier Li Keqiang said over the weekend China will cut import and export costs for foreign firms as it looks to promote an image of being open for business. Britain's negotiation with European Union will be another key issue for investors, with risks of a 'no deal' or 'hard Brexit' shooting up again.

Asian stocks stumble on China-US trade war

China administered-Hong Kong today banned a political party named Hong Kong National Party(HKNP) for "in the interest of national security, public safety, public order, and the protection of rights and freedom of others".

<a href="http://www.wionews.com/world/in-a-first-chinese-ruled-hong-kong-moves-to-ban-separatist-group-152373">Also Read:&nbsp;In a first, Chinese-ruled Hong Kong moves to ban </a><a href="http://www.wionews.com/world/in-a-first-chinese-ruled-hong-kong-moves-to-ban-separatist-group-152373">separatist</a><a href="http://www.wionews.com/world/in-a-first-chinese-ruled-hong-kong-moves-to-ban-separatist-group-152373"> group</a>

The party was founded by 28-year-old Hong Kong resident Andy Chan who is known to be an advocate of Hong Kong's independence from China.

Last month, Chan spoke at Hong Kong's Foreign Correspondent's Club asserting that he will never stop in his pursuit "for freedom&nbsp;human rights, equality and dignity", calling China our "colonial master". Chan has been blocked from standing for office since 2014 after he took part in the "umbrella revolution".

Chan said he would not immediately comment on the decision. &nbsp;

Hong Kong which was formally a colony of Britain till 1997 is governed under the "one country, two systems" principle by China. The principle allows Hong Kong a degree of autonomy in press and speech not normally enjoyed in mainland China.&nbsp;

Hong Kong's security minister John Lee said he had upheld a police request to ban the party.

Lee said the party had tried to infiltrate schools and had spread "hatred and discrimination" against mainland Chinese people in Hong Kong. "It has a clear agenda in making Hong Kong a republic," Lee added.

In July, Hong Kong police had requested HKNP to be banned under the Societies Ordinance.

Human Rights Watch called the ban "a milestone in the Beijing and Hong Kong governments' assault on Hong Kong's freedoms".

Last year President Xi Xinping during his visit to the city had said any attempt to endanger China's sovereignty would mean crossing the "red line".

China administered-Hong Kong today banned a political party named Hong Kong National Party(HKNP) for "in the interest of national security, public safety, public order, and the protection of rights and freedom of others".

China administered-Hong Kong today banned a political party named Hong Kong National Party(HKNP) for "in the interest of national security, public safety, public order, and the protection of rights and freedom of others". Also Read: In a first, Chinese-ruled Hong Kong moves to ban separatist group The party was founded by 28-year-old Hong Kong resident Andy Chan who is known to be an advocate of Hong Kong's independence from China. Last month, Chan spoke at Hong Kong's Foreign Correspondent's Club asserting that he will never stop in his pursuit "for freedom human rights, equality and dignity", calling China our "colonial master". Chan has been blocked from standing for office since 2014 after he took part in the "umbrella revolution". Chan said he would not immediately comment on the decision. Hong Kong which was formally a colony of Britain till 1997 is governed under the "one country, two systems" principle by China. The principle allows Hong Kong a degree of autonomy in press and speech not normally enjoyed in mainland China. Hong Kong's security minister John Lee said he had upheld a police request to ban the party. Lee said the party had tried to infiltrate schools and had spread "hatred and discrimination" against mainland Chinese people in Hong Kong. "It has a clear agenda in making Hong Kong a republic," Lee added. In July, Hong Kong police had requested HKNP to be banned under the Societies Ordinance. Human Rights Watch called the ban "a milestone in the Beijing and Hong Kong governments' assault on Hong Kong's freedoms". Last year President Xi Xinping during his visit to the city had said any attempt to endanger China's sovereignty would mean crossing the "red line".

China administered-Hong Kong bans political party

As housing prices spiral in Hong Kong, young professionals are living in ever-shrinking spaces, with box-like "nano-flats" and co-shares touted as fashionable solutions.

<p content="Blocks of sleek miniature apartments packed with mod cons are springing up around the densely packed city, pitched as an attractive and more affordable lifestyle choice, but still at an eye-watering cost." data-reactid="32" type="text">Blocks of sleek miniature apartments packed with mod cons are springing up around the densely packed city, pitched as an attractive and more affordable lifestyle choice, but still at an eye-watering cost.

<p content="Finance worker Adrian Law, 25, paid more than HK$6 million ($765,000) two years ago for his tiny studio apartment in a new development in the gentrified Sai Ying Pun neighbourhood." data-reactid="33" type="text">Finance worker Adrian Law, 25, paid more than HK$6 million ($765,000) two years ago for his tiny studio apartment in a new development in the gentrified Sai Ying Pun neighbourhood.

The slim glass building squeezes four apartments onto each floor and includes "nano-flats", a new term for homes of under 215 square feet (20 square metres).

Law's studio is a fraction bigger at 292 square feet, with a price per square foot of nearly HK$20,000.

<p content="He has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath -- and he keeps most of his belongings at his parents' home." data-reactid="36" type="text">He has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath -- and he keeps most of his belongings at his parents' home.

But with a fingerprint-activated door lock, washing machine, TV, fridge and even curtains, Law says the flat came with everything he needed.

"Property developers are marketing the concept to buyers that they only need a place to sleep and can do anything else outside," he told AFP, admitting he eats mostly takeaway food as the kitchen is too small for cooking.

<p content="Law's parents helped him put down a 30 percent deposit when he bought the apartment and he sees it as an investment. He pays HK$24,000 per month for the mortgage, around 40 percent of his salary." data-reactid="39" type="text">Law's parents helped him put down a 30 per cent deposit when he bought the apartment and he sees it as an investment. He pays HK$24,000 per month for the mortgage, around 40 per cent of his salary.

"One can only get into a winning position by owning a place," he said.

"If you're renting, you are spending all your money without gaining anything at the end."

<img alt="309ac93e3369cebbe0e7865c50b79298d8391640.jpg" data-entity-type="" data-entity-uuid="" height="341" src="http://images.wionews.com/iniline-images/309ac93e3369cebbe0e7865c50b79298d8391640.jpg" width="512" />

&nbsp;Health threat&nbsp;

<p content="Hong Kong's real estate is the most expensive in the world, with median house prices at 19.4 times median incomes -- the worst ratio globally according to the Annual Demographia International Housing Affordability Survey 2018." data-reactid="43" type="text">Hong Kong's real estate is the most expensive in the world, with median house prices at 19.4 times median incomes -- the worst ratio globally according to the Annual Demographia International Housing Affordability Survey 2018.

<p content="Property prices have been fuelled by an influx of money from wealthy mainland Chinese investors and developers, and the city government stands accused of failing to control the red-hot property market." data-reactid="44" type="text">Property prices have been fuelled by an influx of money from wealthy mainland Chinese investors and developers, and the city government stands accused of failing to control the red-hot property market.

More than 60 per cent of new flats under 430 sq ft are taken up by investment buyers, according to government figures.

<p content="With the ability to buy a flat increasingly out of reach for the majority of Hong Kong's 7.4 million residents, developers are creating smaller spaces to reach a wider market." data-reactid="46" type="text">With the ability to buy a flat increasingly out of reach for the majority of Hong Kong's 7.4 million residents, developers are creating smaller spaces to reach a wider market.

Under Hong Kong law there is no limit to how small a flat can be.

Ryan Ip, senior researcher at public policy think tank Our Hong Kong Foundation, describes it as an "unhealthy" trend with developers putting profit above quality of life.

"If you count the per-square-foot price for smaller-size flats, it is even higher than larger flats," said Ip, who believes mental and physical health will suffer if properties continue to shrink.

Rental prices have also rocketed and the wait for government-subsidised public housing can be five years.

Ip says expanding land supply by any means, including reclamation from the sea, is the only way to solve the affordable housing shortage.

But other local land research groups argue Hong Kong should develop under-utilised brownfield sites and idle government land first.

The government is considering a host of options, from new artificial islands to developing the city's cherished country parks.

<p content="Designers are also putting forward their own new concepts, including converting concrete pipes into living spaces and transforming shipping containers into homes." data-reactid="54" type="text">Designers are also putting forward their own new concepts, including converting concrete pipes into living spaces and transforming shipping containers into homes.

<p content="Designers are also putting forward their own new concepts, including converting concrete pipes into living spaces and transforming shipping containers into homes." data-reactid="54" type="text"><img alt="1000231e0f32687e5be00008eba9e0ee69c668c0.jpg" data-entity-type="" data-entity-uuid="" height="341" src="http://images.wionews.com/iniline-images/1000231e0f32687e5be00008eba9e0ee69c668c0.jpg" width="512" />

Sharing space&nbsp;

Many poorer Hong Kong residents resort to renting dingy "subdivided" flats -- apartments carved up into multiple living spaces.

But even for those on a good salary, a decent home is often unaffordable.

<p content="Jezz Ng, 29, earns a monthly wage of HK$32,000 as a teacher and has chosen to live in a new co-share housing set-up, rather than shelling out for her own rent. At weekends she goes home to her parents." data-reactid="58" type="text">Jezz Ng, 29, earns a monthly wage of HK$32,000 as a teacher and has chosen to live in a new co-share housing set-up, rather than shelling out for her own rent. At weekends she goes home to her parents.

Ng shares a unit with seven other women where she has her own small room, which can fit a single bed and a desk.

<p content="Housed in a revitalised residential building in the working class neighbourhood of Yau Ma Tei, privately owned Bibliotheque offers 166 bed spaces across 15 units, with monthly rents ranging from HK$3,500 to HK$6,200." data-reactid="60" type="text">Housed in a revitalised residential building in the working class neighbourhood of Yau Ma Tei, privately owned Bibliotheque offers 166-bed spaces across 15 units, with monthly rents ranging from HK$3,500 to HK$6,200.

All tenants have access to communal facilities, from shower areas and a kitchen to activity rooms and study rooms.

"When I started to look for places to rent, my maximum budget was $8,000 including utilities, but a simple, decent studio room could easily go over this price," Ng told AFP.

<p content="She now pays $5,600 per month, which she says allows her to support her parents financially and pay her sister's tuition fees for a master's degree -- a common practice for young adults who are working." data-reactid="67" type="text">She now pays $5,600 per month, which she says allows her to support her parents financially and pay her sister's tuition fees for a master's degree -- a common practice for young adults who are working.

Ng adds she feels less cramped than when she lived at home.

Founder of the co-share, Keith Wong, says it is designed for young professionals who need time to "accumulate wealth" by limiting their outgoings.

For now it is an ideal solution, says Ng.

"I want to strive for an apartment, but at the moment, there's no way for me to achieve that goal," she explained.

"Even though I have a stable job and the salary goes up steadily, it will never catch up with the increase in property prices."

<p content="Michelle Chau sits on her bed in a co-sharing building in the Mong Kok district of Hong Kong, where spiralling housing prices have forced young professionals into ever-shrinking spaces" data-reactid="73" type="text">Michelle Chau sits on her bed in a co-sharing building in the Mong Kok district of Hong Kong, where spiralling housing prices have forced young professionals into ever-shrinking spaces

<p content="Jezz Ng in a small living space in a co-sharing building in Hong Kong, where box-like 'nano-flats' and co-shares have been touted as fashionable solutions to eye-wateringly high property prices" data-reactid="74" type="text">Jezz Ng in a small living space in a co-sharing building in Hong Kong, where box-like 'nano-flats' and co-shares have been touted as fashionable solutions to eye-wateringly high property prices

Finance worker Adrian Law, 25, paid more than US$765,000 for his 292 square foot (27 square metre) studio flat

<p content="Adrian Law, 25, has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath and he keeps most of his belongings at his parents' home" data-reactid="76" type="text">Adrian Law, 25, has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath and he keeps most of his belongings at his parents' home.

<p content="Adrian Law, 25, has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath and he keeps most of his belongings at his parents' home" data-reactid="76" type="text"><img alt="7647c931c0fc7fd0977cb24c4bd2e044bc2f8d61.jpg" data-entity-type="" data-entity-uuid="" height="341" src="http://images.wionews.com/iniline-images/7647c931c0fc7fd0977cb24c4bd2e044bc2f8d61.jpg" width="512" />

Blocks of sleek miniature apartments packed with mod cons are springing up around the densely packed city, pitched as an attractive and more affordable lifestyle choice, but still at an eye-watering cost

As housing prices spiral in Hong Kong, young professionals are living in ever-shrinking spaces, with box-like "nano-flats" and co-shares touted as fashionable solutions. Blocks of sleek miniature apartments packed with mod cons are springing up around the densely packed city, pitched as an attractive and more affordable lifestyle choice, but still at an eye-watering cost. Finance worker Adrian Law, 25, paid more than HK$6 million ($765,000) two years ago for his tiny studio apartment in a new development in the gentrified Sai Ying Pun neighbourhood. The slim glass building squeezes four apartments onto each floor and includes "nano-flats", a new term for homes of under 215 square feet (20 square metres). Law's studio is a fraction bigger at 292 square feet, with a price per square foot of nearly HK$20,000. He has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath -- and he keeps most of his belongings at his parents' home. But with a fingerprint-activated door lock, washing machine, TV, fridge and even curtains, Law says the flat came with everything he needed. "Property developers are marketing the concept to buyers that they only need a place to sleep and can do anything else outside," he told AFP, admitting he eats mostly takeaway food as the kitchen is too small for cooking. Law's parents helped him put down a 30 per cent deposit when he bought the apartment and he sees it as an investment. He pays HK$24,000 per month for the mortgage, around 40 per cent of his salary. "One can only get into a winning position by owning a place," he said. "If you're renting, you are spending all your money without gaining anything at the end." Health threat Hong Kong's real estate is the most expensive in the world, with median house prices at 19.4 times median incomes -- the worst ratio globally according to the Annual Demographia International Housing Affordability Survey 2018. Property prices have been fuelled by an influx of money from wealthy mainland Chinese investors and developers, and the city government stands accused of failing to control the red-hot property market. More than 60 per cent of new flats under 430 sq ft are taken up by investment buyers, according to government figures. With the ability to buy a flat increasingly out of reach for the majority of Hong Kong's 7.4 million residents, developers are creating smaller spaces to reach a wider market. Under Hong Kong law there is no limit to how small a flat can be. Ryan Ip, senior researcher at public policy think tank Our Hong Kong Foundation, describes it as an "unhealthy" trend with developers putting profit above quality of life. "If you count the per-square-foot price for smaller-size flats, it is even higher than larger flats," said Ip, who believes mental and physical health will suffer if properties continue to shrink. Rental prices have also rocketed and the wait for government-subsidised public housing can be five years. Ip says expanding land supply by any means, including reclamation from the sea, is the only way to solve the affordable housing shortage. But other local land research groups argue Hong Kong should develop under-utilised brownfield sites and idle government land first. The government is considering a host of options, from new artificial islands to developing the city's cherished country parks. Designers are also putting forward their own new concepts, including converting concrete pipes into living spaces and transforming shipping containers into homes. Sharing space Many poorer Hong Kong residents resort to renting dingy "subdivided" flats -- apartments carved up into multiple living spaces. But even for those on a good salary, a decent home is often unaffordable. Jezz Ng, 29, earns a monthly wage of HK$32,000 as a teacher and has chosen to live in a new co-share housing set-up, rather than shelling out for her own rent. At weekends she goes home to her parents. Ng shares a unit with seven other women where she has her own small room, which can fit a single bed and a desk. Housed in a revitalised residential building in the working class neighbourhood of Yau Ma Tei, privately owned Bibliotheque offers 166-bed spaces across 15 units, with monthly rents ranging from HK$3,500 to HK$6,200. All tenants have access to communal facilities, from shower areas and a kitchen to activity rooms and study rooms. "When I started to look for places to rent, my maximum budget was $8,000 including utilities, but a simple, decent studio room could easily go over this price," Ng told AFP. She now pays $5,600 per month, which she says allows her to support her parents financially and pay her sister's tuition fees for a master's degree -- a common practice for young adults who are working. Ng adds she feels less cramped than when she lived at home. Founder of the co-share, Keith Wong, says it is designed for young professionals who need time to "accumulate wealth" by limiting their outgoings. For now it is an ideal solution, says Ng. "I want to strive for an apartment, but at the moment, there's no way for me to achieve that goal," she explained. "Even though I have a stable job and the salary goes up steadily, it will never catch up with the increase in property prices." Michelle Chau sits on her bed in a co-sharing building in the Mong Kok district of Hong Kong, where spiralling housing prices have forced young professionals into ever-shrinking spaces Jezz Ng in a small living space in a co-sharing building in Hong Kong, where box-like 'nano-flats' and co-shares have been touted as fashionable solutions to eye-wateringly high property prices Finance worker Adrian Law, 25, paid more than US$765,000 for his 292 square foot (27 square metre) studio flat Adrian Law, 25, has adapted to the limited space by buying transformable furniture -- his bed folds away against the wall to reveal a desk tucked underneath and he keeps most of his belongings at his parents' home.

In pictures: As property prices rise, Hong Kong sees rise of 'nano-flats'

&nbsp;A portrait of Pablo Picasso's 'Golden Muse' Marie-Therese debuted in Hong Kong on Friday (May 25) ahead of the Sotheby's Summer Season in London.

The painting, unveiled in public for the first time in 20 years, is estimated to be worth as much as $45 million.

It was painted in 1932, known as Picasso's "Year of Wonder", when he is said to have been inspired by women including Marie-Therese and Dora Maar, according to August Uribe, Sotheby's Vice Chairman of Americas.

The painting was exhibited alongside a selection of Dutch and Flemish masterpieces in Hong Kong, before heading to London for the sale on June 19.

Classic masterpiece paintings are popular in the Asian market especially with mainland Chinese and Taiwan buyers, according to Sotheby's Head of Auction Sales for Old Masters Andrew Fletcher.

The depiction of Marie-Thérèse has matured from the voluptuous curves and sleepy, passive suggestiveness to the woman who gave birth to Picasso’s child.

The portrait suggests that she continued to be of central importance to the artist.

The painting, unveiled in public for the first time in 20 years, is estimated to be worth as much as $45 million

A portrait of Pablo Picasso's 'Golden Muse' Marie-Therese debuted in Hong Kong on Friday (May 25) ahead of the Sotheby's Summer Season in London. The painting, unveiled in public for the first time in 20 years, is estimated to be worth as much as $45 million. It was painted in 1932, known as Picasso's "Year of Wonder", when he is said to have been inspired by women including Marie-Therese and Dora Maar, according to August Uribe, Sotheby's Vice Chairman of Americas. The painting was exhibited alongside a selection of Dutch and Flemish masterpieces in Hong Kong, before heading to London for the sale on June 19. Classic masterpiece paintings are popular in the Asian market especially with mainland Chinese and Taiwan buyers, according to Sotheby's Head of Auction Sales for Old Masters Andrew Fletcher. The depiction of Marie-Thérèse has matured from the voluptuous curves and sleepy, passive suggestiveness to the woman who gave birth to Picasso’s child. The portrait suggests that she continued to be of central importance to the artist.

Picasso's 'Golden muse' painting, estimated worth up to US$45 million, unveiled in Hong Kong

Smartphone and connected device maker Xiaomi filed for a Hong Kong initial public offering on Thursday that could raise $10 billion and become the largest listing by a Chinese technology firm in almost four years.

Xiaomi`s IPO, which will be one of the first in Hong Kong under new rules to attract tech firm listings, is a major win for the bourse as competition heats up between Hong Kong, New York and the Chinese mainland.

The listing is expected to raise about $10 billion via the public offering, giving Beijing-based Xiaomi a market value of between $80 billion and $100 billion, people familiar with the plans told Reuters.

Those targets, if achieved, will make it the biggest Chinese tech IPO since Chinese internet giant Alibaba Group Holding Ltd raised $21.8 billion in 2014.

Xiaomi`s prospectus gave investors the first detailed look at its financial health ahead of the much-hyped IPO, which could be launched as soon as end-June, according to the people close to the process who requested anonymity as the details were not yet public.&nbsp

The numbers underscore how Xiaomi has remained resilient even as the global smartphone market has slowed, helped in part by a push overseas into markets like India.

The company said its revenue was 114.62 billion yuan ($18 billion) in 2017, up 67.5 per cent against 2016. Operating profit for 2017 was 12.22 billion yuan, up from 3.79 billion yuan a year ago.

It made a net loss of 43.89 billion yuan versus a profit of 491.6 million yuan in 2016, though this was impacted by the fair value changes of convertible redeemable preference shares.

Alongside smartphones, Xiaomi makes dozens of internet-connected home appliances and gadgets, including scooters, air purifiers and rice cookers, although it derives most of its profits from internet services.&nbsp

Its relatively cheap handsets pose a rising challenge to market leaders Samsung Electronics Co Ltd and Apple Inc.

Xiaomi doubled its shipments in 2017 to become the world`s fourth-largest smartphone maker, according to Counterpoint Research, defying a global slowdown in smartphone sales.

It is also making a big push outside China`s borders, with 28 per cent of its sales derived from overseas markets last year, up from 6.1 per cent in 2015.

Yet margins on its smartphones are razor-thin. Xiaomi posted a gross profit margin of just 8.8 per cent for its smartphone business in 2017 compared to 60 per cent for its internet services business.

According to some analyst estimates, Apple`s flagship iPhone X and iPhone 8 have gross margins of around 60 per cent.

The company makes the lion`s share of its profit - 60 per cent - from internet services, including gaming and advertising linked to its homegrown user interface, MIUI, which had 190 million monthly active users as of March 2018.

Dual-Class Shares

Xiaomi`s listing plans come as the company and its investors look to capitalise on a bull run for the Hong Kong market, which has seen the benchmark Hang Seng Index rise about 27 per cent over the past year.

Armed with the new rules allowing the listing of companies with dual-class structures, Hong Kong is eyeing several tech listings that are expected in the coming two years from Chinese firms with a combined market cap of $500 billion.

Xiaomi said in its IPO application the company would have a weighted voting rights (WVR) structure, or dual-class shares. The WVR give greater power to founding shareholders even with minority shareholding.

The structure would allow the company to benefit from the "continuing vision and leadership" of the dual-class share beneficiaries, who would control the company for its "long-term prospects and strategy", it said.

Dual-class shares have been a contentious topic in Hong Kong since the city`s strict adherence to a one-share-one-vote principle cost it the float of Alibaba, which instead listed in New York.

Xiaomi is also likely to be among the first Chinese tech firms seeking a secondary listing in its home market, using the planned China depositary receipts route, two people with knowledge of the matter said.

CLSA, Morgan Stanley and Goldman Sachs Group Inc are sponsoring Xiaomi`s IPO. 
&nbsp

Xiaomi`s IPO, which will be one of the first in Hong Kong under new rules to attract tech firm listings, is a major win for the bourse as competition heats up between Hong Kong, New York and the Chinese mainland

Smartphone and connected device maker Xiaomi filed for a Hong Kong initial public offering on Thursday that could raise $10 billion and become the largest listing by a Chinese technology firm in almost four years. Xiaomi`s IPO, which will be one of the first in Hong Kong under new rules to attract tech firm listings, is a major win for the bourse as competition heats up between Hong Kong, New York and the Chinese mainland. The listing is expected to raise about $10 billion via the public offering, giving Beijing-based Xiaomi a market value of between $80 billion and $100 billion, people familiar with the plans told Reuters. Those targets, if achieved, will make it the biggest Chinese tech IPO since Chinese internet giant Alibaba Group Holding Ltd raised $21.8 billion in 2014. Xiaomi`s prospectus gave investors the first detailed look at its financial health ahead of the much-hyped IPO, which could be launched as soon as end-June, according to the people close to the process who requested anonymity as the details were not yet public. The numbers underscore how Xiaomi has remained resilient even as the global smartphone market has slowed, helped in part by a push overseas into markets like India. The company said its revenue was 114.62 billion yuan ($18 billion) in 2017, up 67.5 per cent against 2016. Operating profit for 2017 was 12.22 billion yuan, up from 3.79 billion yuan a year ago. It made a net loss of 43.89 billion yuan versus a profit of 491.6 million yuan in 2016, though this was impacted by the fair value changes of convertible redeemable preference shares. Alongside smartphones, Xiaomi makes dozens of internet-connected home appliances and gadgets, including scooters, air purifiers and rice cookers, although it derives most of its profits from internet services. Its relatively cheap handsets pose a rising challenge to market leaders Samsung Electronics Co Ltd and Apple Inc. Xiaomi doubled its shipments in 2017 to become the world`s fourth-largest smartphone maker, according to Counterpoint Research, defying a global slowdown in smartphone sales. It is also making a big push outside China`s borders, with 28 per cent of its sales derived from overseas markets last year, up from 6.1 per cent in 2015. Yet margins on its smartphones are razor-thin. Xiaomi posted a gross profit margin of just 8.8 per cent for its smartphone business in 2017 compared to 60 per cent for its internet services business. According to some analyst estimates, Apple`s flagship iPhone X and iPhone 8 have gross margins of around 60 per cent. The company makes the lion`s share of its profit - 60 per cent - from internet services, including gaming and advertising linked to its homegrown user interface, MIUI, which had 190 million monthly active users as of March 2018. Dual-Class Shares Xiaomi`s listing plans come as the company and its investors look to capitalise on a bull run for the Hong Kong market, which has seen the benchmark Hang Seng Index rise about 27 per cent over the past year. Armed with the new rules allowing the listing of companies with dual-class structures, Hong Kong is eyeing several tech listings that are expected in the coming two years from Chinese firms with a combined market cap of $500 billion. Xiaomi said in its IPO application the company would have a weighted voting rights (WVR) structure, or dual-class shares. The WVR give greater power to founding shareholders even with minority shareholding. The structure would allow the company to benefit from the "continuing vision and leadership" of the dual-class share beneficiaries, who would control the company for its "long-term prospects and strategy", it said. Dual-class shares have been a contentious topic in Hong Kong since the city`s strict adherence to a one-share-one-vote principle cost it the float of Alibaba, which instead listed in New York. Xiaomi is also likely to be among the first Chinese tech firms seeking a secondary listing in its home market, using the planned China depositary receipts route, two people with knowledge of the matter said. CLSA, Morgan Stanley and Goldman Sachs Group Inc are sponsoring Xiaomi`s IPO.

China's Xiaomi files for mega Hong Kong tech IPO, lifts lid on financials

The International Cricket Council (ICC) on Thursday announced that all its 104 member nations - both men and women's team - will be granted T20I status.

The news was confirmed by ICC CEO David Richardson in a press conference in Kolkata.

He also said that a global ranking system will be launched for the format.

At present, there are 18 members with T20I status - 12 full members plus Scotland, Netherlands, Hong Kong, UAE, Oman and Nepal.

"All Women's team matches will be awarded T20 International status on July 1st 2018. All the men's team matches will be given T20 International status on January 1st 2019," Richardson said.

ICC said the move is a part of the wider strategic aim of using the T20 format to globalise the game.&nbsp;

It said that the new minimum standards will be introduced making it as easy as possible for members to play international cricket in a sustainable and affordable way.

Earlier this year, there were reports doing the rounds that from the year 2020, there won’t be any international cricket played during the IPL – paving the way for a separate window for the T20 league.

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All ICC member nations are to receive T20I status and the 2021 Champions Trophy is to be replaced with a World T20 in the approved 2019-23 Future Tours Programme. 
 
Details ➡️ <a href="https://t.co/Z9sOtqEVVA">https://t.co/Z9sOtqEVVA</a> <a href="https://t.co/DUbpqtQ0ds">pic.twitter.com/DUbpqtQ0ds</a>
— ICC (@ICC) <a href="https://twitter.com/ICC/status/989465649998192643?ref_src=twsrc%5Etfw">April 26, 2018</a></blockquote>
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Talking about the cricketing ties between India and Pakistan, Richardson said that it will take more than both the boards to agree.

“There is a common desire that it will be great if India and Pakistan can play each other, specifically in bilateral series. The issue is quite complicated I am afraid, it is going to take a lot more than just two boards agreeing,” he added.

The news was confirmed by ICC CEO David Richardson

The International Cricket Council (ICC) on Thursday announced that all its 104 member nations - both men and women's team - will be granted T20I status. The news was confirmed by ICC CEO David Richardson in a press conference in Kolkata. He also said that a global ranking system will be launched for the format. At present, there are 18 members with T20I status - 12 full members plus Scotland, Netherlands, Hong Kong, UAE, Oman and Nepal. "All Women's team matches will be awarded T20 International status on July 1st 2018. All the men's team matches will be given T20 International status on January 1st 2019," Richardson said. ICC said the move is a part of the wider strategic aim of using the T20 format to globalise the game. It said that the new minimum standards will be introduced making it as easy as possible for members to play international cricket in a sustainable and affordable way. Earlier this year, there were reports doing the rounds that from the year 2020, there won’t be any international cricket played during the IPL – paving the way for a separate window for the T20 league. All ICC member nations are to receive T20I status and the 2021 Champions Trophy is to be replaced with a World T20 in the approved 2019-23 Future Tours Programme. Details ➡️ https://t.co/Z9sOtqEVVA pic.twitter.com/DUbpqtQ0ds — ICC (@ICC) April 26, 2018 × Talking about the cricketing ties between India and Pakistan, Richardson said that it will take more than both the boards to agree. “There is a common desire that it will be great if India and Pakistan can play each other, specifically in bilateral series. The issue is quite complicated I am afraid, it is going to take a lot more than just two boards agreeing,” he added.

ICC grants T20 International status to all 104 member countries

In response to WION's query on Nirav Modi's whereabouts, Hong Kong's Department of Justice said, 'the Department of Justice does not comment on individual cases.'

WION had raised a query to Hong Kong's justice department regarding Nirav Modi's extradition which was met with a reply that no comments will be made on individual cases.&nbsp;

China, earlier this month, said Hong Kong was free to accept India's request to arrest Modi on the basis of the local laws of the region and judicial agreements between the two.&nbsp;

While Hong Kong is part of the People's Republic of China, it is an autonomous region with its own laws.&nbsp;

A provisional arrest has to be made before a formal extradition can be requested.&nbsp;

Meanwhile, Nirav Modi's presence in Hong Kong has been confirmed. In a written reply to the Parliament, it was stated that India had approached the Hong Kong authorities on March 23 regarding Nirav Modi's provisional arrest.

Besides this, the Punjab National Bank has approached Hong Kong Court against Nirav Modi after moving the insolvency authority in the US.&nbsp;

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Hong Kong's Department of Justice in a response to ANI about Nirav Modi's whereabouts said, 'the Department of Justice does not comment on individual cases.'
— ANI (@ANI) <a href="https://twitter.com/ANI/status/988406892539142144?ref_src=twsrc%5Etfw">April 23, 2018</a></blockquote>
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The bank plans to approach other jurisdictions where Nirav Modi and his associates have assets and properties as part of recovery process, a senior PNB official said.&nbsp;

Hong Kong authorities have been approached and a recovery writ has been filed against companies of Nirav Modi, the official said without disclosing other details.&nbsp;

Billionaire jeweller Nirav Modi figures at the centre of an Rs 13,000-crore fraud.&nbsp;

Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of over Rs13,000 crore through fraudulent Letters of Undertaking (LoUs).&nbsp;

(With inputs from PTI)&nbsp;

China, earlier this month, said Hong Kong was free to accept India's request to arrest Modi on the basis of the local laws of the region

In response to WION's query on Nirav Modi's whereabouts, Hong Kong's Department of Justice said, 'the Department of Justice does not comment on individual cases.' WION had raised a query to Hong Kong's justice department regarding Nirav Modi's extradition which was met with a reply that no comments will be made on individual cases. China, earlier this month, said Hong Kong was free to accept India's request to arrest Modi on the basis of the local laws of the region and judicial agreements between the two. While Hong Kong is part of the People's Republic of China, it is an autonomous region with its own laws. A provisional arrest has to be made before a formal extradition can be requested. Meanwhile, Nirav Modi's presence in Hong Kong has been confirmed. In a written reply to the Parliament, it was stated that India had approached the Hong Kong authorities on March 23 regarding Nirav Modi's provisional arrest. Besides this, the Punjab National Bank has approached Hong Kong Court against Nirav Modi after moving the insolvency authority in the US. Hong Kong's Department of Justice in a response to ANI about Nirav Modi's whereabouts said, 'the Department of Justice does not comment on individual cases.' — ANI (@ANI) April 23, 2018 × The bank plans to approach other jurisdictions where Nirav Modi and his associates have assets and properties as part of recovery process, a senior PNB official said. Hong Kong authorities have been approached and a recovery writ has been filed against companies of Nirav Modi, the official said without disclosing other details. Billionaire jeweller Nirav Modi figures at the centre of an Rs 13,000-crore fraud. Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated PNB of over Rs13,000 crore through fraudulent Letters of Undertaking (LoUs). (With inputs from PTI)

Watch: Hong Kong refuses to comment on Nirav Modi's whereabouts

China today said that Hong Kong can accede to India's request to arrest fugitive Indian diamond merchant Nirav Modi based on local laws and mutual judicial assistance agreements.

India's Minister of State for External Affairs V K Singh told parliament last week that "the ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region (HKSAR), the People's Republic of China."

Asked about India's request, Chinese Foreign Ministry spokesman Geng Shuang told a media briefing here that "according to the one country two systems and basic law of the HKSAR, under the assistance and authorisation of the central government, the HKSAR can make proper arrangement on judicial mutual assistance with other countries," he said.

"If India makes relevant request to the HKSAR, we believe the HKSAR will follow the basic law and relevant laws and under relevant judicial agreements with India with the relevant issue," he said.

Modi, who is wanted in connection with the 12,700-crore scam at the Punjab National Bank, is reportedly in Hong Kong which is a specially-administered region of China.

Modi has his shop in Hong Kong besides in Beijing.&nbsp;

Modi, wanted in connection with the 12,700-crore Punjab National Bank scam, is reportedly in Hong Kong

China today said that Hong Kong can accede to India's request to arrest fugitive Indian diamond merchant Nirav Modi based on local laws and mutual judicial assistance agreements. India's Minister of State for External Affairs V K Singh told parliament last week that "the ministry has sought the provisional arrest of Nirav Deepak Modi by the government of the Hong Kong Special Administrative Region (HKSAR), the People's Republic of China." Asked about India's request, Chinese Foreign Ministry spokesman Geng Shuang told a media briefing here that "according to the one country two systems and basic law of the HKSAR, under the assistance and authorisation of the central government, the HKSAR can make proper arrangement on judicial mutual assistance with other countries," he said. "If India makes relevant request to the HKSAR, we believe the HKSAR will follow the basic law and relevant laws and under relevant judicial agreements with India with the relevant issue," he said. Modi, who is wanted in connection with the 12,700-crore scam at the Punjab National Bank, is reportedly in Hong Kong which is a specially-administered region of China. Modi has his shop in Hong Kong besides in Beijing.

Hong Kong can take a decision on Nirav Modi's arrest, says China

Hong Kong&#39;s richest man Li Ka-shing announced Friday he was stepping down as chairman of his flagship company CK Hutchison, marking the end of an era for one of the world&#39;s most storied tycoons.

Li, a wartime refugee, got his start in 1950 making plastic flowers and over the years built a sprawling conglomerate that has become part of the fabric of Hong Kong life, ranging from internet services to supermarket chains.

Smiling occasionally as he spoke with reporters on Friday, Li said he was &quot;happy and honoured&quot; for the opportunities he has had, bowing as he thanked others for their support.

&quot;Looking back all these years, it&#39;s my honour to have founded Cheung Kong and to have served society,&quot; he told the packed room, referring to his company&#39;s original name.

Nicknamed &quot;Superman&quot;, Li&#39;s decisions set market trends, with the potential to affect property and utility prices for the city&#39;s seven million residents.

The billionaire, who turns 90 in July, said he would step down on May 10 at the company&#39;s annual general meeting, ending mounting speculation about his retirement.

He added he would serve as the company&#39;s &quot;senior advisor&quot; and will hand over the reins to his eldest son Victor.

Li never gave a straight answer when asked about retirement at previous press conferences, but a sweeping revamp of his vast empire in 2015 was seen as a sign that he was paving the way for Victor to take over.

&#39;Vote for Xi&#39; 
Li did not shy away from controversial topics at Friday&#39;s press conference, taking questions on China&#39;s historic constitutional amendment earlier this month to give President Xi Jinping a mandate to rule for life.

&quot;If I had the right to vote, I would vote for him,&quot; Li said, adding China&#39;s anti-graft campaign has been effective in recent years.

He also voiced concern over housing conditions in Hong Kong, where property prices are among the world&#39;s most expensive, forcing some small businesses to close due to sky-high costs while many residents cannot afford to buy or rent decent homes.

The wealth gap last year was at its widest for nearly 50 years, fuelling discontent as the former British colony marked two decades under Chinese rule.

&quot;Our property prices have broken off with ordinary people&#39;s incomes. We especially need more public housing so that, for the general public, their living situation won&#39;t become their biggest difficulty,&quot; the mogul said.

The Center, a landmark Hong Kong skyscraper owned by Li&#39;s CK Asset, sold for a record price of more than $5 billion last year, indicating the city&#39;s booming property sector was not cooling down.

Li&#39;s flagship CK Hutchison controls diverse assets in over 50 countries, and has recently counted Europe as a significant income source.

His Cheung Kong Infrastructure company operates development, investment and infrastructure businesses in mainland China, Britain, Canada and other countries.

Local legend has it that Li can even control the weather -- ensuring typhoons do not hit Hong Kong during the working day.

Practically speaking, Li&#39;s career concluded on a high note as his companies including CK Hutchison and CK Asset reported higher full-year profits in results released Friday.

The billionaire earned the nickname 'Superman' for his business acumen and was so influential in Hong Kong that islanders joked he could prevent typhoons from hitting on working days

Hong Kong's richest man Li Ka-shing announced Friday he was stepping down as chairman of his flagship company CK Hutchison, marking the end of an era for one of the world's most storied tycoons. Li, a wartime refugee, got his start in 1950 making plastic flowers and over the years built a sprawling conglomerate that has become part of the fabric of Hong Kong life, ranging from internet services to supermarket chains. Smiling occasionally as he spoke with reporters on Friday, Li said he was "happy and honoured" for the opportunities he has had, bowing as he thanked others for their support. "Looking back all these years, it's my honour to have founded Cheung Kong and to have served society," he told the packed room, referring to his company's original name. Nicknamed "Superman", Li's decisions set market trends, with the potential to affect property and utility prices for the city's seven million residents. The billionaire, who turns 90 in July, said he would step down on May 10 at the company's annual general meeting, ending mounting speculation about his retirement. He added he would serve as the company's "senior advisor" and will hand over the reins to his eldest son Victor. Li never gave a straight answer when asked about retirement at previous press conferences, but a sweeping revamp of his vast empire in 2015 was seen as a sign that he was paving the way for Victor to take over. 'Vote for Xi' Li did not shy away from controversial topics at Friday's press conference, taking questions on China's historic constitutional amendment earlier this month to give President Xi Jinping a mandate to rule for life. "If I had the right to vote, I would vote for him," Li said, adding China's anti-graft campaign has been effective in recent years. He also voiced concern over housing conditions in Hong Kong, where property prices are among the world's most expensive, forcing some small businesses to close due to sky-high costs while many residents cannot afford to buy or rent decent homes. The wealth gap last year was at its widest for nearly 50 years, fuelling discontent as the former British colony marked two decades under Chinese rule. "Our property prices have broken off with ordinary people's incomes. We especially need more public housing so that, for the general public, their living situation won't become their biggest difficulty," the mogul said. The Center, a landmark Hong Kong skyscraper owned by Li's CK Asset, sold for a record price of more than $5 billion last year, indicating the city's booming property sector was not cooling down. Li's flagship CK Hutchison controls diverse assets in over 50 countries, and has recently counted Europe as a significant income source. His Cheung Kong Infrastructure company operates development, investment and infrastructure businesses in mainland China, Britain, Canada and other countries. Local legend has it that Li can even control the weather -- ensuring typhoons do not hit Hong Kong during the working day. Practically speaking, Li's career concluded on a high note as his companies including CK Hutchison and CK Asset reported higher full-year profits in results released Friday.

Hong Kong's richest man Li Ka-shing to retire

China signalled today it was hardening its stance on dissent in Taiwan and Hong Kong, where it faces growing frustration with the increasingly authoritarian government of President Xi Jinping.

In a report to the opening session of the annual National People&#39;s Congress in Beijing, Premier Li Keqiang warned China &quot;will never tolerate any separatist schemes&quot; in Taiwan, amid growing tensions between the mainland and the self-ruled island.

The warning to the almost 3,000 members of the mostly ceremonial legislature followed the omission of language supporting the political autonomy of Hong Kong and Macau that had featured prominently in previous years.

The report said Beijing would continue to uphold its &quot;one China&quot; principle and promote &quot;peaceful growth&quot; relations with Taiwan under the 1992 consensus, which agrees that there is only one China without specifying whether Beijing or Taipei is its rightful representative.

Beijing will also &quot;advance China&#39;s peaceful reunification&quot;, Li said.

But, he added, it &quot;will never tolerate any separatist schemes or activities for &#39;Taiwan independence&#39;.&quot;

China still sees Taiwan as part of its territory awaiting reunification and has cut off official communications with Taipei because President Tsai Ing-wen refuses to acknowledge the democratic island as part of &quot;one China&quot;.

China voiced anger last week after the US Senate passed a Taiwan travel bill to encourage visits between Washington and Taipei &quot;at all levels&quot;.

Washington cut formal diplomatic ties with Taiwan in 1979 in favour of Beijing. But it maintains trade relations with the island and sells it weapons, angering China.

The report also hinted at a hardening stance towards dissent in the semi-autonomous cities of Hong Kong and Macau, which Beijing rules under the principle of &quot;One country, two systems&quot;.

Last year the section of the report on governing the former European colonies said they would be allowed &quot;a high degree of autonomy&quot;, a statement in keeping with past years, but this year&#39;s report omitted the phrase.

While this year&#39;s report referred to the &quot;One country, two systems&quot; concept, it no longer said it would &quot;steadfastly&quot; apply the principle.

The change may seem minor but silence speaks volumes in a system where government documents are edited down to the last comma.

Hong Kong has been governed under a &quot;one country, two systems&quot; deal since 1997, when Britain handed the territory back to China.

This allows residents rights unseen on the mainland, including freedom of speech and a partially directly elected legislature, as well as an independent judiciary.

But there are fears these freedoms are under threat from Beijing.

Tanya Chan, a pro-democracy lawmaker in the city, said the omission of the mention of Hong Kong people governing themselves was no mistake.

&quot;I don&#39;t think any omission is without purpose, especially when Hong Kong people are concerned about autonomy and the whole system,&quot; she said.

&quot;I worry about whether the Chinese government still respects these very important promises,&quot; Chan added, predicting more &quot;serious and overt&quot; intervention by Beijing.

Claudia Mo, also a pro-democracy legislator, said the &quot;one country, two systems&quot; deal was already dead. &quot;They are just confirming it,&quot; she added.

In a report to the opening session of the annual National People's Congress in Beijing, Premier Li Keqiang warned China 'will never tolerate any separatist schemes' in Taiwan

China signalled today it was hardening its stance on dissent in Taiwan and Hong Kong, where it faces growing frustration with the increasingly authoritarian government of President Xi Jinping. In a report to the opening session of the annual National People's Congress in Beijing, Premier Li Keqiang warned China "will never tolerate any separatist schemes" in Taiwan, amid growing tensions between the mainland and the self-ruled island. The warning to the almost 3,000 members of the mostly ceremonial legislature followed the omission of language supporting the political autonomy of Hong Kong and Macau that had featured prominently in previous years. The report said Beijing would continue to uphold its "one China" principle and promote "peaceful growth" relations with Taiwan under the 1992 consensus, which agrees that there is only one China without specifying whether Beijing or Taipei is its rightful representative. Beijing will also "advance China's peaceful reunification", Li said. But, he added, it "will never tolerate any separatist schemes or activities for 'Taiwan independence'." China still sees Taiwan as part of its territory awaiting reunification and has cut off official communications with Taipei because President Tsai Ing-wen refuses to acknowledge the democratic island as part of "one China". China voiced anger last week after the US Senate passed a Taiwan travel bill to encourage visits between Washington and Taipei "at all levels". Washington cut formal diplomatic ties with Taiwan in 1979 in favour of Beijing. But it maintains trade relations with the island and sells it weapons, angering China. The report also hinted at a hardening stance towards dissent in the semi-autonomous cities of Hong Kong and Macau, which Beijing rules under the principle of "One country, two systems". Last year the section of the report on governing the former European colonies said they would be allowed "a high degree of autonomy", a statement in keeping with past years, but this year's report omitted the phrase. While this year's report referred to the "One country, two systems" concept, it no longer said it would "steadfastly" apply the principle. The change may seem minor but silence speaks volumes in a system where government documents are edited down to the last comma. Hong Kong has been governed under a "one country, two systems" deal since 1997, when Britain handed the territory back to China. This allows residents rights unseen on the mainland, including freedom of speech and a partially directly elected legislature, as well as an independent judiciary. But there are fears these freedoms are under threat from Beijing. Tanya Chan, a pro-democracy lawmaker in the city, said the omission of the mention of Hong Kong people governing themselves was no mistake. "I don't think any omission is without purpose, especially when Hong Kong people are concerned about autonomy and the whole system," she said. "I worry about whether the Chinese government still respects these very important promises," Chan added, predicting more "serious and overt" intervention by Beijing. Claudia Mo, also a pro-democracy legislator, said the "one country, two systems" deal was already dead. "They are just confirming it," she added.

China signals hardened stance on Hong Kong, Taiwan

The US State Department said on Saturday that it was deeply concerned that a Swedish citizen and Hong Kong-based bookseller, Gui Minhai, had been detained in China and called for him to be allowed to leave the country.

The Swedish government has said that Gui, who has published books on the personal lives of President Xi Jinping and other Communist Party leaders, was taken into custody last week while traveling with Swedish diplomats to seek medical treatment in Beijing.

The European Union&rsquo;s ambassador to China has called on the Chinese authorities to release Gui immediately, echoing demands from Stockholm.

&ldquo;We are deeply concerned that Swedish citizen Gui Minhai was detained,&rdquo; State Department Spokeswoman Heather Nauert said in a statement.

&ldquo;We call on Chinese authorities to explain the reasons and legal basis for Mr. Gui&rsquo;s arrest and detention, disclose his whereabouts, and allow him freedom of movement and the freedom to leave China,&rdquo; she said.

The United States and European allies would continue to promote &ldquo;greater respect for human rights in China,&rdquo; she said.

Asked this week about the Swedish and EU demands for Gui&rsquo;s release, a Chinese foreign ministry spokeswoman described the appeals as &ldquo;baseless.&rdquo;

Gui had been abducted in Thailand while on holiday in 2015, one of five Hong Kong booksellers who went missing that year and later appeared in custody on mainland China. The four others have returned to Hong Kong.

Hong Kong, a former British colony, returned to Chinese rule in 1997 with a guarantee of wide-ranging freedoms, including freedom of speech, but critics accuse Communist Party rulers in Beijing of creeping interference in the city&rsquo;s affairs.

Chinese authorities said Gui was freed in October after serving a two-year sentence for a traffic-related crime in 2003.

Gui&rsquo;s daughter Angela told Radio Sweden he was taken off a train by plainclothes police while en route to the capital to get medical attention for a neurological ailment.

Sweden&rsquo;s Foreign Ministry has twice summoned China&rsquo;s ambassador to Stockholm to explain the situation.

Gui Minhai was one of five Hong Kong-based booksellers known for salacious titles about the lives of China's political elite

The US State Department said on Saturday that it was deeply concerned that a Swedish citizen and Hong Kong-based bookseller, Gui Minhai, had been detained in China and called for him to be allowed to leave the country. The Swedish government has said that Gui, who has published books on the personal lives of President Xi Jinping and other Communist Party leaders, was taken into custody last week while traveling with Swedish diplomats to seek medical treatment in Beijing. The European Union’s ambassador to China has called on the Chinese authorities to release Gui immediately, echoing demands from Stockholm. “We are deeply concerned that Swedish citizen Gui Minhai was detained,” State Department Spokeswoman Heather Nauert said in a statement. “We call on Chinese authorities to explain the reasons and legal basis for Mr. Gui’s arrest and detention, disclose his whereabouts, and allow him freedom of movement and the freedom to leave China,” she said. The United States and European allies would continue to promote “greater respect for human rights in China,” she said. Asked this week about the Swedish and EU demands for Gui’s release, a Chinese foreign ministry spokeswoman described the appeals as “baseless.” Gui had been abducted in Thailand while on holiday in 2015, one of five Hong Kong booksellers who went missing that year and later appeared in custody on mainland China. The four others have returned to Hong Kong. Hong Kong, a former British colony, returned to Chinese rule in 1997 with a guarantee of wide-ranging freedoms, including freedom of speech, but critics accuse Communist Party rulers in Beijing of creeping interference in the city’s affairs. Chinese authorities said Gui was freed in October after serving a two-year sentence for a traffic-related crime in 2003. Gui’s daughter Angela told Radio Sweden he was taken off a train by plainclothes police while en route to the capital to get medical attention for a neurological ailment. Sweden’s Foreign Ministry has twice summoned China’s ambassador to Stockholm to explain the situation.

US 'deeply concerned' by detention of Swedish citizen in China

Hong Kong voted to ban ivory sales in a landmark move Wednesday to end the infamous trade in the city.

Lawmakers overwhelmingly voted for the bill that will abolish the trade by 2021, following on the heels of China&#39;s complete ban on ivory sales that went into effect at the end of last year.

&quot;Shutting down this massive ivory market has thrown a lifeline to elephants,&quot; said Bert Wander of global advocacy group Avaaz in a statement.

&quot;Today is a great day for elephants. Hong Kong has always been the &#39;heart of darkness&#39; of the ivory trade with a 670-tonne stockpile when international trade was banned in 1989,&quot; said Alex Hoffard of WildAid Hong Kong.

The amendment to the Protection of Endangered Species of Animals and Plants ordinance will phase out the trade in three stages, a time period some conservationists say could be exploited as a loophole and too late for African elephants which continue to be killed in huge numbers.

The steps include a ban on trade in hunting trophies and ivory dating from after 1975, when a global treaty regulating the trade took effect. It would later extend to ivory acquired before 1975, and finally traders would have to dispose of their stock by 2021.

Penalties for offenders will be increased to a maximum fine of HK$10 million ($1.3 million) and 10 years&#39; imprisonment.

Dozens of demonstrators including schoolchildren gathered outside the city&#39;s legislature to protest against ivory sales holding up signs that read, &quot;Do you really need ivory chopsticks?&quot;

Angry ivory traders have said they will be forced to close down their businesses and demanded the government compensate them for their stock -- which the new ordinance rejected.

Despite the planned ban, the trade was still flourishing in Hong Kong, which saw its biggest ivory bust in three decades last July, when more than seven tonnes of tusks worth over $9 million were seized.

In the months ahead of Wednesday&#39;s vote, the legislature heard tales of murder and suffering involving African park rangers who were shot dead while protecting elephants and others drowned or set on fire.

African ivory is highly sought after in China, where it is seen as a status symbol, and used to fetch as much as $1,100 a kilogram.

Poaching in Africa has seen the elephant population fall by 110,000 over the last 10 years to just 415,000, according to the International Union for Conservation of Nature.

Despite an overall fall in poaching, Africa&#39;s elephant population has declined in part because of continued illegal killing, said a report last year by the Convention on International Trade in Endangered Species. 
&nbsp;

Lawmakers overwhelmingly voted for the bill that will abolish the trade by 2021

Hong Kong voted to ban ivory sales in a landmark move Wednesday to end the infamous trade in the city. Lawmakers overwhelmingly voted for the bill that will abolish the trade by 2021, following on the heels of China's complete ban on ivory sales that went into effect at the end of last year. "Shutting down this massive ivory market has thrown a lifeline to elephants," said Bert Wander of global advocacy group Avaaz in a statement. "Today is a great day for elephants. Hong Kong has always been the 'heart of darkness' of the ivory trade with a 670-tonne stockpile when international trade was banned in 1989," said Alex Hoffard of WildAid Hong Kong. The amendment to the Protection of Endangered Species of Animals and Plants ordinance will phase out the trade in three stages, a time period some conservationists say could be exploited as a loophole and too late for African elephants which continue to be killed in huge numbers. The steps include a ban on trade in hunting trophies and ivory dating from after 1975, when a global treaty regulating the trade took effect. It would later extend to ivory acquired before 1975, and finally traders would have to dispose of their stock by 2021. Penalties for offenders will be increased to a maximum fine of HK$10 million ($1.3 million) and 10 years' imprisonment. Dozens of demonstrators including schoolchildren gathered outside the city's legislature to protest against ivory sales holding up signs that read, "Do you really need ivory chopsticks?" Angry ivory traders have said they will be forced to close down their businesses and demanded the government compensate them for their stock -- which the new ordinance rejected. Despite the planned ban, the trade was still flourishing in Hong Kong, which saw its biggest ivory bust in three decades last July, when more than seven tonnes of tusks worth over $9 million were seized. In the months ahead of Wednesday's vote, the legislature heard tales of murder and suffering involving African park rangers who were shot dead while protecting elephants and others drowned or set on fire. African ivory is highly sought after in China, where it is seen as a status symbol, and used to fetch as much as $1,100 a kilogram. Poaching in Africa has seen the elephant population fall by 110,000 over the last 10 years to just 415,000, according to the International Union for Conservation of Nature. Despite an overall fall in poaching, Africa's elephant population has declined in part because of continued illegal killing, said a report last year by the Convention on International Trade in Endangered Species.

Hong Kong bans ivory sales, traders angry

Varun Dhawan after becoming the youngest Bollywood actor to get<a href="http://www.wionews.com/india-news/entertainment-varun-dhawan-youngest-bollywood-actor-to-get-wax-statue-at-madame-tussauds-31222" target="_blank"> featured in Madame Tussauds wax museum</a> --is now looking forward to the release of his upcoming film Sui Dhagga- Made in India opposite Anushka Sharma.&nbsp;

Recording a video from Hong Kong, where he was present to unveil his own wax statue, Varun can be seen bowing down his head to seek blessings from Mahatma Gandhi and Indian PM Modi for his film.&nbsp;

Watch the video here:&nbsp;

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<a href="https://www.instagram.com/p/BekY5ZIHykz/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_blank">#madeinindia???????? #suidhaaga. Got the most important blessings before I start this important film @anushkasharma</a>

<p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;">A post shared by <a href="https://www.instagram.com/varundvn/" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px;" target="_blank"> Varun Dhawan</a> (@varundvn) on <time datetime="2018-01-30T10:17:09+00:00" style=" font-family:Arial,sans-serif; font-size:14px; line-height:17px;">Jan 30, 2018 at 2:17am PST</time>
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He can be seen asking for blessings from wax statues of both personalities for his film which is centred around India and is a deeply-rooted Indian story.&nbsp;

Yash Raj Films&rsquo; Sui Dhaaga &ndash; Made in India is set to release on September 28&nbsp;this year, right before Gandhi Jayanti.

Varun Dhawan plays the role of a tailor in the film and Anushka plays an embroiderer. The two have been paired opposite one another for the first time.&nbsp;

&nbsp;

Varun Dhawan posted the video from Madame Tussauds museum in Hong Kong -- where he was present to unveil his own wax statue

Varun Dhawan after becoming the youngest Bollywood actor to get featured in Madame Tussauds wax museum --is now looking forward to the release of his upcoming film Sui Dhagga- Made in India opposite Anushka Sharma. Recording a video from Hong Kong, where he was present to unveil his own wax statue, Varun can be seen bowing down his head to seek blessings from Mahatma Gandhi and Indian PM Modi for his film. Watch the video here: #madeinindia???????? #suidhaaga. Got the most important blessings before I start this important film @anushkasharma A post shared by Varun Dhawan (@varundvn) on Jan 30, 2018 at 2:17am PST × He can be seen asking for blessings from wax statues of both personalities for his film which is centred around India and is a deeply-rooted Indian story. Yash Raj Films’ Sui Dhaaga – Made in India is set to release on September 28 this year, right before Gandhi Jayanti. Varun Dhawan plays the role of a tailor in the film and Anushka plays an embroiderer. The two have been paired opposite one another for the first time.

Watch: Varun Dhawan seeks blessings from PM Modi, Mahatma Gandhi for film 'Sui Dhagga'

<a href="http://www.wionews.com/world/watch-live-lunar-eclipse-gives-super-blue-blood-moon-31350" target="_blank">Watch Live: Lunar eclipse gives super blue blood moon</a>

The super blood blue moon is currently visible in Los Angeles, California and Tokyo. Residents in Arizona and Los Angeles were the first to witness the sightings. Stargazers in Tokyo were also able to see the first glimpse of the unique celestial phenomena.

<a href="http://www.wionews.com/india-news/indias-2016-17-gdp-growth-unchanged-at-71-per-cent-government-data-31349" target="_blank">India&#39;s 2016-17 GDP growth unchanged at 7.1 </a><a href="http://www.wionews.com/india-news/indias-2016-17-gdp-growth-unchanged-at-71-per-cent-government-data-31349" target="_blank">per cent</a><a href="http://www.wionews.com/india-news/indias-2016-17-gdp-growth-unchanged-at-71-per-cent-government-data-31349" target="_blank">: Government data</a>

India&#39;s annual economic growth in the fiscal year that ended in March 2017 was unchanged at 7.1 percent, a government statement said on Wednesday.

<a href="http://www.wionews.com/world/state-of-the-union-address-barack-obama-versus-donald-trump-31291" target="_blank">State of the Union address: Barack Obama versus Donald Trump</a>

As the 45th President of the United States delivered his&nbsp;<a href="http://www.wionews.com/world/state-of-the-union-address-us-president-donald-trump-bids-for-safe-strong-and-united-america-31271">first State of the Union address</a>&nbsp;today, Donald Trump touched upon the themes of building a stronger, safer and united America, and pacing towards realising the &#39;American dream&#39;.

<a href="http://www.wionews.com/india-news/earthquake-hits-afghanistan-1-killed-in-pakistan-31314" target="_blank">Earthquake hits Afghanistan, 1 killed in Pakistan</a>

A powerful<a href="http://www.wionews.com/india-news/earthquake-jolts-delhi-tremors-felt-across-north-india-31299">&nbsp;6.1 magnitude earthquake hit northern</a>&nbsp;Afghanistan today. No casualties were immediately reported in &nbsp;Afghanistan. The epicentre was near Afghanistan&#39;s Jarm which had witnessed a devastating earthquake in 2015.

<a href="http://www.wionews.com/world/hong-kong-bans-ivory-sales-traders-angry-31346" target="_blank">Hong Kong bans ivory sales, traders angry</a>

Hong Kong voted to ban ivory sales in a landmark move Wednesday to end the infamous trade in the city.

Watch Live: Lunar eclipse gives super blue blood moon The super blood blue moon is currently visible in Los Angeles, California and Tokyo. Residents in Arizona and Los Angeles were the first to witness the sightings. Stargazers in Tokyo were also able to see the first glimpse of the unique celestial phenomena. India's 2016-17 GDP growth unchanged at 7.1 per cent: Government data India's annual economic growth in the fiscal year that ended in March 2017 was unchanged at 7.1 percent, a government statement said on Wednesday. State of the Union address: Barack Obama versus Donald Trump As the 45th President of the United States delivered his first State of the Union address today, Donald Trump touched upon the themes of building a stronger, safer and united America, and pacing towards realising the 'American dream'. Earthquake hits Afghanistan, 1 killed in Pakistan A powerful 6.1 magnitude earthquake hit northern Afghanistan today. No casualties were immediately reported in Afghanistan. The epicentre was near Afghanistan's Jarm which had witnessed a devastating earthquake in 2015. Hong Kong bans ivory sales, traders angry Hong Kong voted to ban ivory sales in a landmark move Wednesday to end the infamous trade in the city.

WION Evening News brief, January 31, 2018

After Chris Patten said PM May should broach Hong Kong&#39;s freedom with Chinese authorities, a Chinese foreign ministry spokesman said Hong Kong affairs was purely an &quot;internal matter&quot;.

Chris Patten was the British governor in 1997 when Britain formally handed over Hong Kong to China after the 99-year lease ended marking the end of 156 years of British colonial rule.

Patten said the British government should question China over Hong Kong&#39;s political issues. In a letter to May, Patten along with former Liberal Democrat leader Paddy Ashdown requested the British PM &nbsp;to raise Hong Kong&rsquo;s plight with China&rsquo;s leaders.

The European Union too criticised Hong Kong government&#39;s decision to bar 21-year-old activist Agnes Chow from standing for election.

May promised to hold &quot;frank discussions&quot; with Chinese leaders during her three-day visit which will begins this week.

European Union criticised Hong Kong government's decision to bar 21-year-old activist Agnes Chow from standing for election

After Chris Patten said PM May should broach Hong Kong's freedom with Chinese authorities, a Chinese foreign ministry spokesman said Hong Kong affairs was purely an "internal matter". Chris Patten was the British governor in 1997 when Britain formally handed over Hong Kong to China after the 99-year lease ended marking the end of 156 years of British colonial rule. Patten said the British government should question China over Hong Kong's political issues. In a letter to May, Patten along with former Liberal Democrat leader Paddy Ashdown requested the British PM to raise Hong Kong’s plight with China’s leaders. The European Union too criticised Hong Kong government's decision to bar 21-year-old activist Agnes Chow from standing for election. May promised to hold "frank discussions" with Chinese leaders during her three-day visit which will begins this week.

After Patten, EU rap, China says Hong Kong purely 'internal matter'

Celebrating success with films like &quot;Badrinath Ki Dulhania&quot; and &quot;Judwaa 2&quot;, Varun Dhawan is clearly at the top of the moon.&nbsp;

Adding to this is yet another happy news for the actor who has now become the youngest Bollywood actor to get featured at Madame Tussauds in Hong Kong.&nbsp;

Sharing his excitement, he tweeted photos&nbsp;from the unveiling of his&nbsp;wax statue and wrote, &quot;All the magic all the love all the way from HONK KONG&quot;.&nbsp;

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All the magic all the love all the way from HONK KONG <a href="https://t.co/CIgcHXq7t8">pic.twitter.com/CIgcHXq7t8</a>
&mdash; Varun Dhawan (@Varun_dvn) <a href="https://twitter.com/Varun_dvn/status/958252342138187778?ref_src=twsrc%5Etfw">January 30, 2018</a></blockquote>
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With this, he joins the list of stellar actors&nbsp;Shah Rukh Khan, Amitabh Bachchan, Aishwarya Rai Bachchan, Brad Pitt, Angelina Jolie and others who have one already at the Hong Kong&nbsp;studio.&nbsp;

Varun will be next seen alongside Banita Sandhu in Shoojit Sircar&#39;s &quot;October&quot; --&nbsp; slated to release on April 13.

He also has Yash Raj Films&#39; &quot;Sui Dhaaga&quot;&nbsp;in the pipeline where he will be seen opposite Anushka Sharma for the first time.&nbsp;

&nbsp;

Varun confirmed the news on his Twitter profile with photos from the unveiling his wax statue

Celebrating success with films like "Badrinath Ki Dulhania" and "Judwaa 2", Varun Dhawan is clearly at the top of the moon. Adding to this is yet another happy news for the actor who has now become the youngest Bollywood actor to get featured at Madame Tussauds in Hong Kong. Sharing his excitement, he tweeted photos from the unveiling of his wax statue and wrote, "All the magic all the love all the way from HONK KONG". All the magic all the love all the way from HONK KONG pic.twitter.com/CIgcHXq7t8 — Varun Dhawan (@Varun_dvn) January 30, 2018 × With this, he joins the list of stellar actors Shah Rukh Khan, Amitabh Bachchan, Aishwarya Rai Bachchan, Brad Pitt, Angelina Jolie and others who have one already at the Hong Kong studio. Varun will be next seen alongside Banita Sandhu in Shoojit Sircar's "October" -- slated to release on April 13. He also has Yash Raj Films' "Sui Dhaaga" in the pipeline where he will be seen opposite Anushka Sharma for the first time.

Varun Dhawan, youngest Bollywood actor to get wax statue at Madame Tussauds

A Hong Kong woman jailed for six years for starving and beating her Indonesian domestic helper was ordered by a court on Thursday to pay more than $100,000 in damages for the &quot;inhumane&quot; abuse.

Law Wan-tung was convicted of grievous bodily harm, assault, criminal intimidation and failure to pay wages in 2015 and is still serving a jail term after losing an appeal.

The plight of her former helper, Erwiana Sulistyaningsih, and pictures of the injuries she suffered made her the face of a movement determined to force change for Hong Kong&#39;s army of helpers.

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More than 340,000 domestic helpers, mostly from the Philippines and Indonesia, work in Hong Kong, often performing menial tasks for low wages while being forced to live in poor conditions.

Calling the abuse inflicted on Sulistyaningsih &quot;inhumane, degrading and abhorrent&quot;, Judge Winnie Tsui ordered Law to pay around $103,400 (HK$809,000) as she delivered her judgment, reports said.&nbsp;

The court awarded Sulistyaningsih the full amount of damages she claimed for injuries, medical expenses and other losses, local media reported.

Sulistyaningsih previously described how for months she lived on nothing but bread and rice, slept only four hours a day and was beaten so badly that she was knocked unconscious.

The then-23-year-old was admitted to hospital in Indonesia in 2014, emaciated and in critical condition, sparking international outrage as pictures of her spread on social media.

Following a series of high-profile abuse cases, concerns over the welfare of Hong Kong&#39;s migrant domestic workers have grown.

Rights groups say unscrupulous employment agencies plunge helpers into debt and withhold their passports while the legal requirement for helpers to live with their employers makes it difficult for them to escape abuse.

Rights advocates have long sought reforms, including ending a rule where domestic workers must leave the city 14 days after they quit a job unless they can find other employment within that time.

Campaigners say the rule discourages workers from leaving abusive employers.

The government has shown no sign it plans to update the regulations.

Law Wan-tung is serving a six-year jail term for starving and beating her Indonesian domestic helper

A Hong Kong woman jailed for six years for starving and beating her Indonesian domestic helper was ordered by a court on Thursday to pay more than $100,000 in damages for the "inhumane" abuse. Law Wan-tung was convicted of grievous bodily harm, assault, criminal intimidation and failure to pay wages in 2015 and is still serving a jail term after losing an appeal. The plight of her former helper, Erwiana Sulistyaningsih, and pictures of the injuries she suffered made her the face of a movement determined to force change for Hong Kong's army of helpers. The plight of her former helper, Erwiana Sulistyaningsih, and pictures of the injuries she suffered made her the face of a movement determined to force change for Hong Kong's army of helpers × More than 340,000 domestic helpers, mostly from the Philippines and Indonesia, work in Hong Kong, often performing menial tasks for low wages while being forced to live in poor conditions. Calling the abuse inflicted on Sulistyaningsih "inhumane, degrading and abhorrent", Judge Winnie Tsui ordered Law to pay around $103,400 (HK$809,000) as she delivered her judgment, reports said. The court awarded Sulistyaningsih the full amount of damages she claimed for injuries, medical expenses and other losses, local media reported. Sulistyaningsih previously described how for months she lived on nothing but bread and rice, slept only four hours a day and was beaten so badly that she was knocked unconscious. The then-23-year-old was admitted to hospital in Indonesia in 2014, emaciated and in critical condition, sparking international outrage as pictures of her spread on social media. Following a series of high-profile abuse cases, concerns over the welfare of Hong Kong's migrant domestic workers have grown. Rights groups say unscrupulous employment agencies plunge helpers into debt and withhold their passports while the legal requirement for helpers to live with their employers makes it difficult for them to escape abuse. Rights advocates have long sought reforms, including ending a rule where domestic workers must leave the city 14 days after they quit a job unless they can find other employment within that time. Campaigners say the rule discourages workers from leaving abusive employers. The government has shown no sign it plans to update the regulations.

Hong Kong woman ordered to pay abused maid $100,000

Around 1,000 people marched through Hong Kong Sunday, led by some of the city&#39;s high-profile democracy campaigners including Joshua Wong, in what they billed an &quot;anti-authoritarian&quot; protest.

Activists say Hong Kong is at risk of losing its rights and liberties in the face of growing Chinese pressure on the semi-autonomous city.&nbsp;

The jailing of campaigners following court hearings, and fears that Hong Kong will introduce an anti-subversion law, are among the key concerns in the pro-democracy camp.

Wong, 21, was jailed in August over his role in the Umbrella Movement mass pro-democracy protests of 2014 and is on bail pending an appeal.

He will be sentenced on another protest-related charge Thursday, which could mean more jail time.&nbsp;

&quot;No one likes to serve a prison sentence, (but) if it can mobilise more people to care about justice and democracy in Hong Kong, I think it&#39;s valuable and I will pay this price,&quot; Wong told AFP.&nbsp;

Protesters carried placards reading: &quot;The Hong Kong spirit can never be imprisoned&quot; and &quot;Walk with the resisters, fight authoritarian rule&quot;.

Some held up caricatures of city leaders.

Others played a recording of China&#39;s national anthem and paraded a doll bearing the sign: &quot;When you hear the national anthem, don&#39;t eat. Stand up immediately.&quot; A new law introduced by Beijing against disrespecting the anthem will also be applied to Hong Kong.&nbsp;

The city was handed back to China by Britain in 1997 and is governed by a &quot;one country, two systems&quot; deal which grants it freedoms unseen on the mainland.

But with the emergence of a fledgling pro-independence movement, Beijing is pushing a tougher line on Hong Kong.&nbsp;

There are also concerns about a new express railway to the mainland, which will mean that parts of the train terminus come under Chinese jurisdiction.&nbsp;

Student Kelvin Muk, 20, said he had joined the march because he feared he may eventually lose the right to do so.&nbsp;

&quot;We are increasingly coming out to protest because we want to at least hold on to the last remaining freedoms we have,&quot; he said.&nbsp;

Activists say Hong Kong is at a risk of losing its rights and liberties in the face of growing Chinese pressure on the semi-autonomous city

Around 1,000 people marched through Hong Kong Sunday, led by some of the city's high-profile democracy campaigners including Joshua Wong, in what they billed an "anti-authoritarian" protest. Activists say Hong Kong is at risk of losing its rights and liberties in the face of growing Chinese pressure on the semi-autonomous city. The jailing of campaigners following court hearings, and fears that Hong Kong will introduce an anti-subversion law, are among the key concerns in the pro-democracy camp. Wong, 21, was jailed in August over his role in the Umbrella Movement mass pro-democracy protests of 2014 and is on bail pending an appeal. He will be sentenced on another protest-related charge Thursday, which could mean more jail time. "No one likes to serve a prison sentence, (but) if it can mobilise more people to care about justice and democracy in Hong Kong, I think it's valuable and I will pay this price," Wong told AFP. Protesters carried placards reading: "The Hong Kong spirit can never be imprisoned" and "Walk with the resisters, fight authoritarian rule". Some held up caricatures of city leaders. Others played a recording of China's national anthem and paraded a doll bearing the sign: "When you hear the national anthem, don't eat. Stand up immediately." A new law introduced by Beijing against disrespecting the anthem will also be applied to Hong Kong. The city was handed back to China by Britain in 1997 and is governed by a "one country, two systems" deal which grants it freedoms unseen on the mainland. But with the emergence of a fledgling pro-independence movement, Beijing is pushing a tougher line on Hong Kong. There are also concerns about a new express railway to the mainland, which will mean that parts of the train terminus come under Chinese jurisdiction. Student Kelvin Muk, 20, said he had joined the march because he feared he may eventually lose the right to do so. "We are increasingly coming out to protest because we want to at least hold on to the last remaining freedoms we have," he said.

'Anti-authoritarian' march in Hong Kong

By Saurabh Bose

A 140-year-old Patek Philippe pocket watch, once owned by Tata founder Jamsetji Nusserwanji Tata, will be auctioned in Hong Kong on Tuesday.&nbsp;

The watch was custom-ordered by Tata and will be sold for an estimated $10,000 to $20,000.&nbsp;

The 18 karat, pink gold timepiece was gifted by Tata to English architect James Morris in 1890 as a thank you for his work on the Tata family mansion, Esplanade House, in Mumbai.&nbsp;

Engraved on the back of the watch is a dedication to Morris: &quot;This watch is presented by Jamsetjee N Tata to James Morris Esq, the architect, Esplanade House, Bombay, in recognition of his professional skill and of the care and attention devoted by him during its construction, 1890.&quot;&nbsp;

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Jamsetji Nusserwanji Tata. (Image source: Tata Central Archives) (Others)
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WION spoke with Thomas Perazzi, Head of Watches, Asia, at Phillips, the auction house selling the watch.&nbsp;

Perazzi says that back then it was actually yellow gold that was in vogue, but Jamsetji asked for pink gold -- making this a rare watch.&nbsp;

Perazzi was also part of the team that sold Mahatma Gandhi&#39;s Zenith pocket watch, John F Kennedy&#39;s Elgin, Jackie Kennedy&#39;s Cartier Tank, and Ethiopian&nbsp;Emperor Haile Selassie&#39;s Patek Philippe.&nbsp; &nbsp;

Perazzi says Jamsetji&#39;s Patek Philippe is a &quot;repeating chronograph hunter case presentation watch&quot;, and that very few watchmakers had the skill to make that sort of watch back then.&nbsp;

And that five-minute repeaters, one of the most complex repeater mechanisms, are sought after by fine watch collectors as masterpieces of precision mechanical engineering.

Adding to the watch&#39;s value of course is the fact that it was owned by Jamsetji Tata and custom-ordered by him.&nbsp;

Perazzi says that unfortunately we do not have records of Patek Philippe&nbsp;retail prices at the time, but that a five-minute Patek Philippe repeater currently goes for over $300,000.&nbsp;

Nor was Phillips able to trace the full story of the watch and what happened to it after Morris -- a watch&#39;s value is calculated by brand, the complexity of its movement mechanism, and provenance -- but, says Perazzi, what we do know is that it was kept safely in a wise collector&#39;s safe all these years.&nbsp;

WION spoke with Thomas Perazzi, Head of Watches, Asia, at Phillips, the auction house selling the watch

By Saurabh Bose A 140-year-old Patek Philippe pocket watch, once owned by Tata founder Jamsetji Nusserwanji Tata, will be auctioned in Hong Kong on Tuesday. The watch was custom-ordered by Tata and will be sold for an estimated $10,000 to $20,000. The 18 karat, pink gold timepiece was gifted by Tata to English architect James Morris in 1890 as a thank you for his work on the Tata family mansion, Esplanade House, in Mumbai. Engraved on the back of the watch is a dedication to Morris: "This watch is presented by Jamsetjee N Tata to James Morris Esq, the architect, Esplanade House, Bombay, in recognition of his professional skill and of the care and attention devoted by him during its construction, 1890." Jamsetji Nusserwanji Tata. (Image source: Tata Central Archives) (Others) × Jamsetji Tata's dedication to his architect James Morris. (Image source: Tata Central Archives) (Others) × WION spoke with Thomas Perazzi, Head of Watches, Asia, at Phillips, the auction house selling the watch. Perazzi says that back then it was actually yellow gold that was in vogue, but Jamsetji asked for pink gold -- making this a rare watch. Perazzi was also part of the team that sold Mahatma Gandhi's Zenith pocket watch, John F Kennedy's Elgin, Jackie Kennedy's Cartier Tank, and Ethiopian Emperor Haile Selassie's Patek Philippe. Perazzi says Jamsetji's Patek Philippe is a "repeating chronograph hunter case presentation watch", and that very few watchmakers had the skill to make that sort of watch back then. And that five-minute repeaters, one of the most complex repeater mechanisms, are sought after by fine watch collectors as masterpieces of precision mechanical engineering. Adding to the watch's value of course is the fact that it was owned by Jamsetji Tata and custom-ordered by him. Perazzi says that unfortunately we do not have records of Patek Philippe retail prices at the time, but that a five-minute Patek Philippe repeater currently goes for over $300,000. Nor was Phillips able to trace the full story of the watch and what happened to it after Morris -- a watch's value is calculated by brand, the complexity of its movement mechanism, and provenance -- but, says Perazzi, what we do know is that it was kept safely in a wise collector's safe all these years.

140-year-old watch, once owned by Tata founder Jamsetji, to be auctioned Tuesday

Chinese social media and video game giant Tencent became more valuable than Facebook on Tuesday as investors sent the company soaring into the top five of the world&#39;s biggest firms.

Tencent&#39;s Hong Kong-listed shares have doubled in value this year, and on Monday it became the first Asian company with a market capitalisation of half a trillion dollars.

By the end of the trading day on Tuesday, Tencent&#39;s outstanding shares were worth a combined 4.08 trillion Hong Kong dollars ($523 billion), surpassing Facebook&#39;s $519 billion.

Despite its stratospheric climb, Tencent is still some way behind the world&#39;s most valuable company, Apple, which is currently valued at $873 billion.

Last week, Tencent said profit had grown nearly 70 percent in the third quarter, when compared with the same period last year, well outpacing expectations. Its accelerating growth has sent its shares shooting higher in recent days.

Critics say many of China&#39;s tech companies copy the latest idea seen in the US. That has not been the case for Tencent, which has transformed its WeChat smartphone app into a product wholly unlike other social networking applications seen around the world.&nbsp;

&quot;Tencent is an enterprise that focuses on innovation,&quot; said Huang Hao, an associate researcher at the National Academy of Economic Strategy of Chinese Academy of Social Sciences. &quot;Its product ideas are not simple emulations of those of foreign businesses.&quot;

But it also has a distinct advantage over some of its western peers: Facebook and Twitter are blocked in China, cutting off a market of up to 1.3 billion people.

Cashless society&nbsp;

The nearly one billion users who flock to Tencent&#39;s WeChat app, and older platform QQ, can chat, post photos, play games, transfer money and pay for a variety of services in China. They exchange 38 billion messages each day.

WeChat has revolutionised China&#39;s tech industry and even daily life for millions of Chinese.&nbsp;

WeChat&#39;s QR codes, which look a lot like a bar code, are ubiquitous in China&#39;s shops and restaurants, and even fruit hawkers and some beggars carry around the scannable codes, allowing them to accept mobile payment.

The Wepay service, along with its competitor made by Alibaba, has helped China jump from a cash-based society to one at the global forefront of mobile payments.

Even the media and publishing sectors have seen changes to how Chinese consume and pay for content, with millions of WeChat accounts publishing content directly to their followers.

That has rubbed up against Chinese censors, who shut down dozens of accounts publishing the latest tidbits of celebrity gossip over the summer.&nbsp;

Another key to Tencent&#39;s success has been its top game, the multi-player online battle &quot;Honour of Kings&quot;, which has been a smash hit that helped Tencent&#39;s revenue from smartphone games surge by 84 percent in the third quarter.

Tencent&#39;s disruption of industries traditionally dominated by the state has also angered a number of behemoths - from the publishing to telecommunications to banking sectors.

These powerful enemies could pose a problem for the tech giant in the future, analysts say.&nbsp;&nbsp;

&quot;Most of its profits are obtained by foreign investors,&quot; said Huang of the government research institute.&nbsp;

&quot;The government should face up to this issue and consider the ways to promote the development of entirely national enterprises in the future,&quot; he said.

By the end of the trading day on Tuesday, Tencent's outstanding shares were worth a combined 4.08 trillion Hong Kong dollars ($523 billion), surpassing Facebook's $519 billion

Chinese social media and video game giant Tencent became more valuable than Facebook on Tuesday as investors sent the company soaring into the top five of the world's biggest firms. Tencent's Hong Kong-listed shares have doubled in value this year, and on Monday it became the first Asian company with a market capitalisation of half a trillion dollars. By the end of the trading day on Tuesday, Tencent's outstanding shares were worth a combined 4.08 trillion Hong Kong dollars ($523 billion), surpassing Facebook's $519 billion. Despite its stratospheric climb, Tencent is still some way behind the world's most valuable company, Apple, which is currently valued at $873 billion. Last week, Tencent said profit had grown nearly 70 percent in the third quarter, when compared with the same period last year, well outpacing expectations. Its accelerating growth has sent its shares shooting higher in recent days. Critics say many of China's tech companies copy the latest idea seen in the US. That has not been the case for Tencent, which has transformed its WeChat smartphone app into a product wholly unlike other social networking applications seen around the world. "Tencent is an enterprise that focuses on innovation," said Huang Hao, an associate researcher at the National Academy of Economic Strategy of Chinese Academy of Social Sciences. "Its product ideas are not simple emulations of those of foreign businesses." But it also has a distinct advantage over some of its western peers: Facebook and Twitter are blocked in China, cutting off a market of up to 1.3 billion people. Cashless society The nearly one billion users who flock to Tencent's WeChat app, and older platform QQ, can chat, post photos, play games, transfer money and pay for a variety of services in China. They exchange 38 billion messages each day. WeChat has revolutionised China's tech industry and even daily life for millions of Chinese. WeChat's QR codes, which look a lot like a bar code, are ubiquitous in China's shops and restaurants, and even fruit hawkers and some beggars carry around the scannable codes, allowing them to accept mobile payment. The Wepay service, along with its competitor made by Alibaba, has helped China jump from a cash-based society to one at the global forefront of mobile payments. Even the media and publishing sectors have seen changes to how Chinese consume and pay for content, with millions of WeChat accounts publishing content directly to their followers. That has rubbed up against Chinese censors, who shut down dozens of accounts publishing the latest tidbits of celebrity gossip over the summer. Another key to Tencent's success has been its top game, the multi-player online battle "Honour of Kings", which has been a smash hit that helped Tencent's revenue from smartphone games surge by 84 percent in the third quarter. Tencent's disruption of industries traditionally dominated by the state has also angered a number of behemoths - from the publishing to telecommunications to banking sectors. These powerful enemies could pose a problem for the tech giant in the future, analysts say. "Most of its profits are obtained by foreign investors," said Huang of the government research institute. "The government should face up to this issue and consider the ways to promote the development of entirely national enterprises in the future," he said.

China social media giant Tencent becomes more valuable than Facebook

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'Anti-authoritarian' march in Hong Kong

140-year-old watch, once owned by Tata founder Jamsetji, to be auctioned Tuesday

China social media giant Tencent becomes more valuable than Facebook