CEPA and interrelationship between Chinese yuan and Hong Kong dollar

In order to explore the interrelated impacts of the economical communications between China and Hong Kong SAR, especially after the closer economic partnership arrangement (CEPA) and the Chinese yuan offshore financial business in Hong Kong banks in 2004, the exchange rates of the Chinese yuan and the Hong Kong dollar are investigated as well-performing market signals that should reflect this historical transformation. With vector autoregressive models (VAR), the Johansen cointegration test and the Granger causality test on the exchange rates of the Chinese yuan and the Hong Kong dollar adjusted by the consumer price index and inter-bank interest rates are examined. It is found that the exchange rates of the Chinese yuan and the Hong Kong dollar after CEPA are in long-term equilibrium and Granger causality with each other, which means that the interrelationship of the Chinese yuan and the Hong Kong dollar is more closely integrated after the implementation of the CEPA. In conclusion, the cooperation regarding bilateral trade and financial markets between China and Hong Kong SAR has been enhanced after 1997; furthermore, after the implementation of CEPA the interrelationship of the economies between China and Hong Kong SAR is significantly reinforced.     

"花样女子"张曼玉

Biography: Maggie was born in Hong Kong and emigrated(移民)with her family to England at the age of eight. She once worked as a cashier(出纳员)in a London bookstore. Upon completing her secondary school education,she returned to Hong Kong and first     

Leonardo Advocates Environmental Protection

At the invitation of HSBC (Hong Kong and Shanghai Banking Cor- poration汇丰银行),the international superstar Leonardo DiCaprio (莱昂纳多·迪卡普里奥) went to Hong Kong to promote public environmental awareness.He appeared in the first release (首演) of The 11th Hour     

A Case Study of Language Policies in Hong Kong

Hong Kong belongs to China. However, Hong Kong has been a colony of the British Empire for 154 years and 11 months and it has been under Japan rule for three years and eight years. Hong Kong returned t...     

香港的學位和學位授權學校評審

香港的学位香港高等学校中有学位授予权的学校共有8所。其中称为大学(university)的有3所,即香港大学(The University of Hong Kong,简称HKU)、香港中文大学(The Chinese University of Hong Kong, CUHK)和香港科技大学(Hong Kong University of Science and Technology, HKUST),而不称为大学的高校(non-university institutions)有5所,即香港浸会学院(The Hong Kong Baptist Col-     

香港工程师学会

香港工程师学会(The Hong Kong Institution of Engineers,HKIE)成立于1947年,其前身为"香港工程协会"(The Engineering Society of Hong Kong),以结合不同领域之工程师,并为其谋取最大福利为目标.     

亚洲R&B歌后——李玟

Born in Hong Kong and having emigrated to the United States at the tender age of 10, CoCo Lee had no idea she would become an international singing superstar. After winning the second place in a singing contest (equilavent to Star Search) in Hong Kong, her life would be forever changed.     

Preserving the literary past, looking to the future： the first Hong Kong Literature Database

INTRODUCTION In the last two decades of the 20th century, there was an emerging interest in and emphasis on the study of Hong Kong literature among academic scholars. Since the first biennial conference “Conference on Taiwan and Hong Kong Literature (Tai Gang Wen Xue Xue Shu Tao Lun Hui)” held in 1982 in Mainland China, various conferences with diverse themes on Hong Kong literature have been held both locally and overseas in these twenty some years (Huang, 1988; Liu, 1997). The…     

香港城市大学(英文)

City University of Hong Kong is one of eight tertiary institutions funded by the Government of the Hong Kong Special Administrative Region through the University Grants Committee of Hong Kong.A young and dynamic institution,the     

How many Chinese journals are included in the newly indexed 700 regional journals on Web of Science？

Based on the current news via Thomson Reuters ＂700 new regional journals in the world have been added to Web of Science since 2007＂, we conducted an investigation to find out that 43 （6.1%） Chinese journals （including 6 journals from Hong Kong region） are included. The results also show that up to now a total of about 153 Chinese journals （114 from China Mainland, 11 from Hong Kong and 28 from Taiwan） have been included by SCI and SSCI ＆ AHCI.     

Disney Park

In 1955, Walt Disney(迪斯尼)himsellopened the first Disney Park in Los Angeles,the USA.Later Disney world wasopened in Florida in 1971. It cost betweens$ 500 and $600 million. TokyoDisney Park opened in Japan in 1983,and Europe (欧洲)Disney opened inFrance in 1992. Now Hong Kong is going to build a DisneyPark and it will be open in 2005. More than 80% of Hong Kong's populationwould like to visit the Disney Park when     

香港(一)(英文)

From skyscrapers to quaint (奇异的)villages, sightseeing in Hong Kong is amazingly diverse for an area which is just 1091 square kilometres. If you spent one day travelling from bustling Hong Kong Island to the rural New Territories, you would see many different facets of life:executives heading for high-tech offices, vendors selling traditional wares in bustling (熙熙攘攘的)markets, worshippers (礼佛者) praying in incense-scented (香烟缭绕的) temples and farmers bentlow planting vegetables.     

香港及菲律宾英文教师英文程度低落

In Hong Kong, more than half of teachers of English failed in English tests. 在香港,一半以上的英文教师英文测试不及格。In early June 2003, the Education and Manpower Bureau of Hong Kong released the results of the English proficiency assessment tests held for teachers of English. Surprisingly, only 40 per cent of Hong Kong's own 2704 candidates passed the test. The candidates consisted of serving and trained teachers.     

The Boy Who Moved China——Hong Zhanhui

A 24-year-old college student's story moved millions of Chinese people. Hong Zhanhui has raised an abandoned(被遗弃的) child for 12 years.     

完形填空

Customs are different 1 country to country.2 the differences in customs,mistakes and comic situations 3 occur sometimes.Here is just.4 of them.A young Englishwoman 5 was not familiar 6 the Chinese culture 7 to Hong Kong from Great Britain.One day she paid a 8 one of her Chinese     

Zhou Yumin and Li Bingbing got frozen while filming

Once Zaizai (Zhou Yumin 周渝民) and Li Bingbing(李冰冰) were filming in a park in Hong Kong. Before the camera, Zaizai and Bingbing embraced(拥抱) each other     

Hong Kong students＇ approaches to learning： Cross-cultural comparisons

Anecdotal evidence abounds in Hong Kong to the effect that students entering tertiary education are predisposed to a ＂rote＂ learning approach. With the internalisation of higher education in many countries, there is still insufficient understanding of how Chinese students approach their learning. Except few studies were conducted locally, there have been no systematic studies undertaken and there is a tendency to rely on anecdotal statements about Hong Kong students＇ approaches to learning. This study was designed to see if Hong Kong Chinese students who enrolled into a 3-year undergraduate programme in occupational therapy predisposed to a surface or deep approach to learning react differently when moving progressively from one stage to the next stage in their curriculum. The study adopted a longitudinal design method and measured students＇ changes in their approaches to learning using the Biggs＇ Study Process Questionnaire （SPQ）. The internal consistency reliability estimates for SPQ scales for samples of Hong Kong, Australia and UK were compared. The results of this study indicated that Hong Kong Chinese students demonstrated a higher mean for the deep approach learning and a lower mean for the surface approach, similar to other Hong Kong studies conducted in other tertiary institutions in Hong Kong and Australia.     

A Passage to India

India is an immemorial country with so many mysteries and traditions. Last November, I went to India for business trip and had a chance to have an exciting experience.My destination is Dehli via Hong Kong airport. I started from Dalian at 10a.m. and arrived at Hong Kong     

Evaluating the Effectiveness of Air Pollution Abatement Policy of Hong Kong

Hong Kong currently is suffering from a severeeconomic cutback with the onslaught of the recentworld financial downturn. As Hong Kong relies heavi-ly on the export trading and services industries, thegovernment currently concentrates its effort and re-sou…