Search Page

University officials at Hong Kong Polytechnic University – a publicly funded institution – have been scrambling to explain its use of companies registered in secretive offshore tax havens, after revelations in the Panama Papers that it set up two companies offshore to channel funds. The university, known locally as PolyU, had not declared in any of its financial reports that it set up two companies in the British Virgin Islands in 2012 and 2013 as wholly owned subsidiaries of the university, raising questions about its financial transparency and reporting.

The United States firm that owns the SAT, a college entrance exam accepted by many US colleges and universities, cancelled plans to administer the test this weekend at centres in China and Macau following concerns that some students may have obtained information about questions in advance. Tests scheduled to be administered Saturday in Bahrain and Kazakhstan also were cancelled. Students in Hong Kong sat for the test Saturday as scheduled.