Cultural Services News

Regarding the massive spill of polypropylene plastic pellets into the Hong Kong waters from a cargo ship during typhoon Vicente in July 2012, and following active negotiations amongst the parties concerned, a Hong Kong Marine Department spokesperson said a settlement agreement was reached for a sum to be paid by the party concerned to the government to compensate the costs it incurred in cleaning up the plastic pellets. The spokesperson explained that due to the complexity of the legal issues involved…

Observers have hailed the recent opening of the FTZ as the country's most significant reform push since the creation of Shenzhen Special Economic Zone more than three decades ago. 23 measures will be adopted to free up six areas of the service sector reports Xinhua. Foreign-funded financial institutions are allowed to set up banks, and to team up with approved private banks to establish joint-ventures. Limits have been scrapped on the number of shares foreign investors are allowed to hold in shipping and logistics companies and foreign firms will be allowed to run ship-management operations.