Young Asia is to be launched this summer while U-Life has had its first issue published in March.
Young Asia is a regional English magazine with Asian youngsters 17 to 25 years old as its target readers.
"It is the first magazine trying to reach both male and female in a cross section of cultures," said Miss Alison Lee, its associate publisher.
"Asian young people are looking for a magazine written and produced by others just like them," Miss Lee said.
In fact, the planned starting circulation of 120,000 copies will be distributed bimonthly to seven Asian regions on and off campus.
They include Hong Kong, Singapore, Taiwan, Thailand, Philippines, Malaysia and Indonesia.
The circulation in Singapore and Hong Kong will be the largest since most information and advertisers come from them.
According to Miss Alison Lee, the goal of the magazine is "to entertain, interest and inform".
The editorial board will try to accomplish the goal by designing various sections telling people what is happening around the regions. They are fashion, music, products, trends and the like.
More, the magazine will try to give practical advice on career, personal relationships, health and fitness, consumer issues and budget travel.
Above all, Miss Lee would like to emphasize that, "We will not cover stories we consider immoral, politically offensive, or unsavoury in any way. Besides, we will not carry any tobacco advertisement."
On the other hand, as the magazine is free of charge and the circulation is enormous, advertising income is especially important.
Miss Veronica Wong, the advertising manager, said, "Actually, the greatest problem for us is to search for advertisers. Since we are new, we have to put in much effort in persuading the clients."
By the time of the interview, several large companies like Pepsi and Reebok, have already shown their support.
Another problem is the different levels in the mastering of English of its target readers.
According to Miss Lee, simple English will be used in the magazine.
"The main source of journalists, writers and designers will be fresh graduates. We welcome new comers who are willing to learn," said Miss Wong.
Miss Lee said, staff will be required to present their ideas and reports in a "light, conversational tone in a unique, distinctive, dynamic way".
Moreover, the magazine will pay much effort in getting feedback from the readers to improve itself.
"We are planning a campaign to gather the ideas and opinions of our readers," said Miss Wong.
Apart from Young Asia, another youth magazine, U Life is already in the market. It targets at local tertiary students.
"U Life, Unique Life", "U Life, a new power against the current" and "Without a friend, living is colder than ice and lonelier than a piece of solitary wood" are what its posters and other propaganda materials read.
It becomes a news story itself when its first issue came out this March.
Miss Fion Yeung, a final year English major at the Chinese University is its managing editor.
She explained how the U Life came into being: "A year ago, an American friend who was an exchange student told me that in other countries, there are many different kinds of publications circulating among the universities. This lacks in Hong Kong.
"Then we came up with the idea that we should establish a magazine to strengthen the ties among tertiary students here," she said, "and our 24 reporters from various institutes are trying hard to reach this goal."
The style of U Life will mainly be informative, entertaining and literate.
Miss Yeung said: "Almost all entertaining magazines in the market are very bad taste, emphasising on pornographic issues and exaggerations of facts to attract readers merely.
"Also, magazines' overuse of colloquial language has degraded the Chinese language skills of Hong Kong students.
"We would like to provide some fresh air to our fellow students, by in-depth reporting and presenting a kind of culture accepted by many but not being colloquial.
"As you can see, the headlines of our articles are not eye-catching.
"Moreover, when we work on a feature, we try to have in-depth analysis rather than merely touching the issues superficially. We will try to dig up the causes."
Another feature of the magazine, said Miss Yeung, is that the artistic design is quite "European".
For instance, the style of the comic is not the popular Japanese one, but "is similar to what you can see in magazines like Newsweek".
However, Miss Leung King Chi, a student of social work at the Chinese University, said that U Life has a lot to improve.
Said she: "The articles are really too short. All except one occupy less than a page and they are printed with loose spacing. There are only seven articles in the whole magazine.
"More, the depth is very limited and the current issues on campus, like the selection of vice-chancellors in the University of Hong Kong and the Chinese University, are not mentioned."
In response, Miss Yeung said: "Although the feedback I get from the questionnaires is quite good, too few number of pages is found to be a problem with the first issue.
"In the next issue, two-third of the space will be occupied by articles and the number of pages will be increased to 34, with the whole magazine printed in colour.
"Moreover, we may not report hard news, but that depends on the feedback of the students. If they want us to do this, we will do it then."
Some people are curious about the magazine's financial source.
Miss Yeung and her American friend, whose name is requested to be withheld, have invested about $300,000. It makes one pause that university students have that much money.