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FS visits biomedical firm in UK

Financial Secretary Paul Chan yesterday visited a biopharmaceutical company and the Royal College of Art, and attended a lunch hosted by the China-Britain Business Council, as part of his ongoing trip to London.   Mr Chan visited AstraZeneca and met the company’s senior management to learn about its drug research and development activities, as well as its latest expansion plans.   AstraZeneca indicated that following in-depth talks with Hong Kong’s Office for Attracting Strategic Enterprises, it plans to develop a research and development centre in Hong Kong and will engage in further discussion with relevant government departments on the matter.   The Financial Secretary then attended a roundtable luncheon held by the China-Britain Business Council, and met representatives of British enterprises that do business, or plan to do business, either in the Mainland or Hong Kong.   Mr Chan later visited the Royal College of Art, which collaborated with the Hong Kong Polytechnic Unive

$20.8b deficit recorded

The Government announced today it recorded a $20.8 billion deficit for the two months ending May 31.   Expenditure for the period was $97.1 billion and revenue was $76.3 billion.   The Government said there was a deficit mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.   Fiscal reserves stood at $907 billion at the end of May.
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