From Bloomberg News via the International Herald Tribune (link)
Hong Kong’s biggest companies are reporting record profits, buoyed by the city’s investment, trade and tourism links with China.
Billionaire Li Ka-shing‘s Cheung Kong Holdings was among 27 of 33 members of the city’s benchmark Hang Seng index that increased earnings in the latest period. Nineteen companies reported their highest-ever profit, including port operator Cosco Pacific and oil producer Cnooc.
“As the finance and services center for the fastest-growing large economy in the world, it’s pretty clear why we’re getting these results,” said David O’Rear, chief economist at the Hong Kong General Chamber of Commerce.
