China/Hong Kong on the move

China may overtake Germany to become the world’s largest export country this year. China raised its 2009 growth estimate to 9.6% from 9.0% and said this year’s quarterly figures will increase.

Daily : Hong Kong/China on the move

-> Companies controlled by Malaysian billionaire Robert Kuok, and Nathaniel Rothschild may buy shares in United Co. Rusal’s US$2 bn Hong Kong initial public offering

-> Hong Kong's retail sales value rose 11.7% from a year ago in November

-> New residential mortgage loans approved fell by 11.1% from the prior month to HK$25.8 billion in November

Malaysia - Work on GST has started, says Customs

The Customs Department is getting ready to implement the goods and services tax, which is expected to come into force in the middle of 2011. Customs director-general Datuk Seri Ibrahim Jaapar said the department has started preparing for the new tax regime. Ibrahim said the change would not be difficult as the department only had to transform the current system to GST. (NST)