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Since the launch of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) in 2003, Hong Kong cinema is believed to have confronted drastic changes. Hong Kong cinema is described to be dying, lacking creative space and losing local distinctiveness. A decade later, the rise of Hong Kong – China coproduction cinema under CEPA has been normalized and changed the once pessimism in the industry. The purpose of this paper is to demonstrate how Hong Kong cinema adjusted its production and creation in the first 10 years of CEPA.

Beginning with a review of the overall development, three paradigmatic cases are examined for reflecting upon what the major industrial and commercial concerns on the Hong Kong – China coproduction model are, and how such a coproduction model is not developed as smooth as what the Hong Kong filmmakers expected.

Collectively, this paper singles out the difficulties in operation and the limit of transnationality that occur in the Chinese context for the development of Hong Kong cinema under the Hong Kong – China coproduction model.

This is the author’s research in his five-year study of Hong Kong cinema and it contributes a lot to the field of cinema studies with relevant industrial and policy concern.

The purpose of this paper is to assess critically the political challenges facing Hong Kong’s “one country, two systems” policy following the Umbrella Movement and to evaluate the territory’s democratic and autonomous future.

A critical, contextual, and analytical approach has been adopted to evaluate the problems and prospects for post-Umbrella Movement Hong Kong.

The contradictions embedded in the “one country, two systems” policy have become apparent since the Umbrella Movement arose and Hong Kong’s political and democratic future is as problematic as its prospects are uncertain, though the possibility of some rapprochement between Hong Kong and Beijing should not be ruled out completely.

The critical evaluation offered by this paper is no scientific prediction. Social scientific analysis of this kind is suggestive rather than definitive. The informed discussion offered by this paper will help readers to better understand the strengths and weaknesses inherent in Beijing’s “one country, two systems” policy and the tortuous process of democratization in Hong Kong. The conclusion drawn in the paper points to a possible way out of the political impasse that is facing post-Umbrella Movement Hong Kong.

This paper is a pioneering study of the most important political conflict between Beijing and Hong Kong since 1997, the conclusion of which may have important political and policy implications for both China and Hong Kong.

The purpose of this paper is to examine the performance of 19 Malaysian Real Estate Investment Trusts (M-REITs) over the period 1999 to 2014, following the implementation of dividend tax reforms announced in the 2007, 2009 and 2012 budgets.

Sharpe index, Treynor index and Jensen α are utilized to compare the performance of M-REITs against a newly developed tax-adjusted value-weighted M-REITs index, equity market, property sector and three month Malaysia Treasury Bills (T-Bills). The calculation of M-REITs returns has been adjusted to take into account the dividend tax reforms which have never been considered in previous studies.

Most M-REITs outperform the tax-adjusted value-weighted REITs index, equity market, property sector and three month T-Bills. Property sector performs worst during those periods. Some of the M-REITs have a higher standard deviation than the equity market and the tax-adjusted value-weighted M-REITs index. Most M-REITs have a lower total risk than the property sector. Further analysis shows that before (after) the tax reforms, most M-REITs underperform (outperform) the other sectors. The introduction of the tax reforms benefits both REITs and investors. A significant positive Jensen α for some M-REITs indicates that fund managers are able to time the market or to select undervalued assets.

Findings of the study would enable investors to evaluate the performance of all REITs in comparison to other financial assets during the period of study for better investment decision making. A more accurate assessment on REITs performance that take into account the tax reforms, is available for investors and fund managers to decide on the investment mix to be included in their portfolio. Moreover, fund managers’ performance can be assessed whether they perform better or worse than the equity market, property sector and three month T-Bills.

This study contributes to the scant literature on dividend tax reforms and their implication toward REITs performance. It is the first study to thoroughly assess the returns of REITs by taking into account the changes on dividend tax rates announced in the 2007, 2009 and 2012 budgets.

Studies of Tianhou-Mazu cult have been focused on three themes: studies in Taiwan emphasize hegemonic order; studies in Hong Kong reveal a relationship of “sisterhood” alliances; and studies in Singapore highlight the important role of ethnic groups. The rebuilding of the goddess’s ancestral temple in early 1980s and her acquiring a world intangible cultural heritage status in the early twenty-first century facilitate the redefinition of overseas Chinese’s religious affiliation. The purpose of this paper is to discuss this global development of the cult from the 1980s and its ritual implication in overseas Chinese communities.

This paper, by comparing the Tianhou-Mazu cult in Taiwan, Hong Kong and Southeast Asian Chinese settlements, argues that from sisters to descended replicas, or from local alliances to global hegemony, the cult of Tianhou-Mazu since the 1980s has not only replaced local culture with an emphasis on “high culture,” but also represents a religious strategy regarding local people’s interpretation of correctness and authority.

This paper argues that despite the imposition of hegemonic power from various authorities, popular religion is a matter of choice. This reflects how local religious practice is construed according to the interpretation of global cultural languages by the elite Chinese; their decision of when and how to reconnect with the goddess’s ancestral temple or the “imperial state,” or to form alliances with other local communities; and the implementation of the local government’s cultural policy.

This paper is one of the few attempts comparing development of a folk cult in various communities.