Until recently, Google automatically redirected Chinese users to its unfiltered search site in Hong Kong to get round censorship issues. The firm has said it will now stop this after Beijing warned it could lose its licence to operate in the country.

The rise of Asian millionaires is being tracked by the industry that manages the fortunes of rich individuals, with banks shifting senior staff to Singapore and Hong Kong to chase new clients.

Protesters picketed Foxconn's annual general meeting in Hong Kong on Tuesday, accusing both the Apple Inc. supplier and computer giant of poor corporate ethics after a spate of suicides at Foxconn factories in mainland China

In recent years, many top universities in Taiwan have seen lecturers leave for China, attracted by the vibrant development there and more attractive packages. And Hong Kong universities are eyeing not just Taiwanese students, but also lecturers.

"Google has violated its written promise it made when entering the Chinese market by stopping filtering its searching service and blaming China in insinuation for alleged hacker attacks," said a government official.

Hong Kong's Census and Statistics Department said the seasonally adjusted jobless rate rose to 5.3% during February to April from 5.2% recorded in January to March.

Hutchison Whampoa has reported a 42% fall in net profit but sounded an upbeat note as losses narrowed at its 3G mobile phone operations. The Hong Kong-based oil-to-telecoms firm said annual profits totalled HK$17.7bn (US$2.28 billion), compared with HK$30.6bn in 2007.

Benchmark indexes in Japan, Hong Kong and South Korea all dropped by about 5% in early trading after the Dow Jones share index in New York fell to its lowest level in five years, amid fears of a protracted global recession.