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SCMP Reporter

Chinese university turns a blind eye to philanthropist's misdemeanour

The Chinese University of Hong Kong is to bestow honorary doctorate degrees on appropriately 'distinguished persons' in December.

The honorees will include  astronaut Yang Liwei, who captured Hong Kong hearts during his post-orbital visit last November, and billionaire philanthropist William Mong Man-wai.

Alas Mr Mong - boss of Shun Hing Electronic Trading and also known as the Electronics King - was fined $5,000 last month on two charges of failing to disclose his shareholding in the Bank of East Asia, of which he is a director.

Mr Mong's defence was one that many busy rich men can identify with: he said he did not know about the purchase.

Though the magistrate rejected that explanation, he at least allowed Mr Mong, who is in poor health, to skip several hearings and also to remain seated for his verdict.

As for the university, it will happily overlook Mr Mong's misdemeanour and make him a doctor of social science.

Prison no bar for comeback kid

What's the first thing that occurs to you when you see in the news Chim Pui-chung, the legislator-designate for the financial services sector? His nickname, 'the angry man from Chiu Chow'?

The chauvinistic slur he once uttered about all women being ... well, we won't repeat that one here. Or maybe his latest reincarnation as the comeback kid?

Try thinking, for a change, of a man who never forgets his roots.

On Friday, Mr Chim will visit Stanley Prison, where he served a one-year sentence in 1999 for plotting to forge share documents.

He could have gone to Beijing instead, but turned down an invitation from the central government to attend its National Day celebrations. (If you think that an odd choice you haven't been to the polluted, traffic-snarled capital lately.)

Mr Chim said he considered himself an inspiration for the prisoners he left behind: 'Take a look at me. You can still be a legislative councillor even after going to prison. Of course not all of them are as smart as I am, but I hope they can still rejoin society.'

Busy week for yellow bulls

It has been a mixed week for Shanghai's huang niu - or 'yellow bulls' - as the scalpers who will sell you a ticket for almost anything are known.

They did well enough at the Grand Prix. Many tickets to that event were bought in bulk by private companies and state institutions - probably on the orders of the city government - and then sold or given away to staff and clients.

Some recipients did not want the tickets and were happy to re-sell them at giveaway prices (200 to 300 yuan) to the yellow bulls, who by Friday were offering tickets with a face value of 2,600 yuan for 800 yuan.

But business was not nearly as good for Elton John's concert on Sunday, his first performance in  the mainland. The touts were selling 1,000 yuan tickets for only 50 yuan.

There were also, not surprisingly, steep discounts for a performance by The Backstreet Boys.

Shanghai residents, themselves avid students of Adam Smith, regard the yellow bulls and stock-market day traders as their city's 'pure traders', who live and die by their market instincts.

Sponsors get grand prix mileage

Corporate sponsors paid a lot of money to get their products attached to Formula One's China debut in Shanghai over the weekend, but earned back at least some of the outlay with the help of Grand Prix prices.

Foster's and Coca-Cola were the only firms allowed to sell beer and soda at the event, and made the most of their monopoly.

A normally five-yuan bottle of beer cost 20, and a three-yuan Coke sold for 10 track-side.

Similarly, a simple Ferrari T-shirt cost 500 yuan  and a Ferrari bag 700 yuan. If you wanted a baseball hat, one emblazoned with a Ferrari logo was also in pole position at between 350 and 400 yuan.

There were many ads for Michelin, Bridgestone, Siemens and main sponsor Sinopec, which was appropriately hawking its petrol.

Tobacco sponsors, including Mild Seven and 555, were less lucky as China's advertising law forbids fixed-point cigarette ads.

So they were instead attached to moving objects of varying speeds - from racing-car chassis to the clothing and mini-dresses - respectively, of course - of the F-1 drivers and models.



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