https://www.scmp.com/rss/318210/feed Hong Kong economy news including annual budget, MPF pensions, retail and transport. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers’ strong demand for new flats extended a streak of brisk sales for developers with one project selling out in a single day, underscoring the city’s broader recovery in housing prices. All 88 units at the Pavilia Farm III project by New World Development and MTR Corporation in Sha Tin were sold on Saturday, prompting the developers to put 75 more flats on sale later that night. Elsewhere in Kai Tak, 133 units of KT Marina II were snapped up over the weekend, according to... https://www.scmp.com/property/hong-kong-china/article/3350638/hong-kong-homebuyers-extend-sell-out-streak-amid-renewed-confidence-market?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3350638/hong-kong-homebuyers-extend-sell-out-streak-amid-renewed-confidence-market?utm_source=rss_feed Sun, 19 Apr 2026 13:10:25 +0000 Oscar Liu Oscar Liu The Hong Kong Sevens ended in a high-octane finale on Sunday with costume-clad rugby fans filling the stands at Kai Tak Stadium, but some nearby restaurants said they struggled to match last year’s takings, blaming an influx of new rivals for diluting profits. The atmosphere on Super Sunday was electric as a sea of excited spectators, some clad in creative and flamboyant costumes, filled the South Stand, with some experiencing the event for the first time at its 50th anniversary. Over three... https://www.scmp.com/news/hong-kong/society/article/3350630/hong-kong-sevens-treat-fans-local-restaurants-hungry-more-trade?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3350630/hong-kong-sevens-treat-fans-local-restaurants-hungry-more-trade?utm_source=rss_feed Sun, 19 Apr 2026 11:20:28 +0000 Natalie Wong,Leopold Chen Natalie Wong,Leopold Chen Hong Kong is set to announce on Monday a new batch of “strategic enterprises” establishing a presence in the city, including several firms with market capitalisations of up to HK$100 billion (US$12.8 billion), the finance chief has revealed. Financial Secretary Paul Chan Mo-po said on Sunday that the new partners were in high-growth sectors, including life and health technology, the low-altitude economy, artificial intelligence (AI), new energy materials and fintech. “Those life and health... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350608/new-firms-hk100-billion-market-capitalisation-set-shop-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350608/new-firms-hk100-billion-market-capitalisation-set-shop-hong-kong?utm_source=rss_feed Sun, 19 Apr 2026 05:04:23 +0000 Regina Ip Regina Ip For the first time in its history – and in a striking departure from its long-standing doctrine of minimal economic intervention – Hong Kong is preparing to draw up a five-year plan. Chief Executive John Lee Ka-chiu has asked all policy bureaus to help draft proposals by the end of the year. To lead the exercise, veteran civil servant Janice Tse Siu-wah has come out of retirement. The Legislative Council, not to be left out, has formed a committee supported by six coordinating groups spanning... https://www.scmp.com/opinion/hong-kong-opinion/article/3350403/how-markets-will-test-hong-kongs-new-economic-model?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350403/how-markets-will-test-hong-kongs-new-economic-model?utm_source=rss_feed Sun, 19 Apr 2026 01:30:08 +0000 Ryan Ip,Jason Leung Yeuk-ho,Wenhui Jia Ryan Ip,Jason Leung Yeuk-ho,Wenhui Jia For a Chinese enterprise venturing overseas, the first decision is often not which market to enter, but which city to launch from. And that choice increasingly narrows to Hong Kong or Singapore. Both offer deep capital markets, common law systems and Chinese-speaking talent. Both want to be the trusted first stop. But a gap has emerged – not in what the two cities offer on paper, but in how they treat the enterprises they both want. What does a “launch pad” deliver? It is where a Chinese... https://www.scmp.com/opinion/hong-kong-opinion/article/3350196/how-hong-kong-can-beat-singapore-launch-pad-chinese-firms?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350196/how-hong-kong-can-beat-singapore-launch-pad-chinese-firms?utm_source=rss_feed Sat, 18 Apr 2026 21:30:08 +0000 Lam Ka-sing Lam Ka-sing Hong Kong’s competition watchdog is closely monitoring a potential megadeal between the city’s two largest supermarket chains amid a continued decline in grocery sales since 2020. The Competition Commission told the South China Morning Post that it was aware of media reports about the potential merger. “The commission is aware of the relevant media reports and is paying close attention to the matter and any future developments,” it said. Conglomerates Jardine Matheson and CK Hutchison Holdings,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350589/hong-kong-watchdog-monitoring-potential-merger-citys-top-2-supermarket-chains?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350589/hong-kong-watchdog-monitoring-potential-merger-citys-top-2-supermarket-chains?utm_source=rss_feed Sat, 18 Apr 2026 14:02:30 +0000 Sylvia Ma Sylvia Ma The US-Israeli war on Iran has unleashed sharp swings across global energy and financial markets, fuelling demand for safe-haven assets, with Hong Kong emerging as a potential beneficiary across gold, property and capital markets. In the first of a three-part series, we examine Hong Kong’s bid to position itself as Asia’s bullion hub. War in the Middle East has intensified global demand to diversify gold storage, creating a strategic window for Hong Kong to tap its unique status and evolve from... https://www.scmp.com/economy/global-economy/article/3350511/hong-kong-wants-become-global-gold-vault-does-iran-war-create-opening?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3350511/hong-kong-wants-become-global-gold-vault-does-iran-war-create-opening?utm_source=rss_feed Sat, 18 Apr 2026 06:00:16 +0000 Matthew Cheng,Lam Ka-sing Matthew Cheng,Lam Ka-sing Hong Kong’s investments in the Middle East will not be derailed by ongoing conflicts, the commerce minister has said, expressing confidence in the region’s economic prospects and urging businesses to take a long-term view. “The geopolitical situation has a temporary impact, but in the long term, we remain hopeful about development in the Middle East,” Secretary for Commerce and Economic Development Algernon Yau Ying-wah told a radio programme on Saturday. “We have many strengths in areas such as... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350558/take-long-term-view-hong-kong-minister-says-middle-east-investment-unaffected?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350558/take-long-term-view-hong-kong-minister-says-middle-east-investment-unaffected?utm_source=rss_feed Sat, 18 Apr 2026 04:57:01 +0000 Jess Ma Jess Ma The Hong Kong Tourism Board invited more than 1,700 influencers from around the world to the city between 2023 and last year, with the internet personalities having a combined following exceeding 1.6 billion. Responding to an inquiry from lawmaker Chan Hoi-yan, the Culture, Sports and Tourism Bureau said the board had invited 1,730 influencers to Hong Kong over two years, with itineraries tailored to their markets and audiences. “In 2026-27, [the board] will continue to develop themed... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350512/tourism-board-invited-1730-influencers-hong-kong-over-2-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350512/tourism-board-invited-1730-influencers-hong-kong-over-2-years?utm_source=rss_feed Sat, 18 Apr 2026 01:00:25 +0000 Vivian Au Vivian Au Hong Kong authorities will seek half of the HK$440 million (US$56.2 million) investment for a planned national innovation centre in Yuen Long from the private sector, while setting performance benchmarks that an analyst has called ambitious. The target was announced after Financial Secretary Paul Chan Mo-po revealed the plan in his latest budget in February, which earmarked funds to establish the first national manufacturing innovation centre outside mainland China as part of efforts to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350515/hong-kong-eyes-hk220-million-private-investment-national-innovation-centre?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350515/hong-kong-eyes-hk220-million-private-investment-national-innovation-centre?utm_source=rss_feed Fri, 17 Apr 2026 12:16:03 +0000 Ng Kang-chung Ng Kang-chung Hong Kong flag carrier Cathay Pacific Airways and its budget arm carried more passengers in March than a year ago, despite the impact of the US-Israel war against Iran. Cathay Group also said on Friday that it aimed to restore all flights after June. The company earlier announced it was cutting the number of Cathay Pacific flights by 2 per cent and HK Express services by 6 per cent between mid-May and the end of June. The group attributed the passenger growth to a spate of mega-events in the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350510/cathay-pacific-hk-express-passenger-counts-despite-impact-mideast-war?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350510/cathay-pacific-hk-express-passenger-counts-despite-impact-mideast-war?utm_source=rss_feed Fri, 17 Apr 2026 12:00:19 +0000 David Dodwell David Dodwell Earlier this week I stumbled on a fascinating piece of research led by geography professor Becky Loo at the University of Hong Kong and soon to be published in the Nature Cities journal. Fascinating not just because of its scale – an analysis of 200,000 household travel surveys covering Boston, Chicago, London, Sao Paulo and Hong Kong – but because of its focus on daily mobility and social mixing. Its key finding? That people aged over 66 have more encounters with a broader cross-section of... https://www.scmp.com/opinion/hong-kong-opinion/article/3350402/debunking-myth-lonely-isolated-hong-kong-retiree?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350402/debunking-myth-lonely-isolated-hong-kong-retiree?utm_source=rss_feed Fri, 17 Apr 2026 08:30:08 +0000 Ambrose Li,Stephy Zhang Ambrose Li,Stephy Zhang Bars and restaurants are gearing up for a bumper three days during the Hong Kong Sevens rugby tournament, brushing off concerns that rising airfares because of the Middle East war might put off visitors, with some operators expecting a surge of up to 40 per cent compared with a regular weekend. Business magnate and Lan Kwai Fong Group chairman Allan Zeman told the South China Morning Post that the loyal following of the flagship tournament, which runs from Friday to Sunday at the 50,000-seat Kai... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350374/bars-gearing-bumper-hong-kong-sevens-weekend?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350374/bars-gearing-bumper-hong-kong-sevens-weekend?utm_source=rss_feed Fri, 17 Apr 2026 00:30:09 +0000 Connor Mycroft Connor Mycroft Hong Kong leader John Lee Ka-chiu has met European Union representatives to discuss opportunities for cooperation, with the chief executive saying both sides highlighted a shared belief in multilateralism amid increasing tensions and market turmoil. Ambassador Harvey Rouse, head of the EU Office in Hong Kong, called for both sides to work together, describing the 27-member bloc as a “very dependable partner in an increasingly volatile world”. Local officials attending the lunch meeting on... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350369/hong-kong-leader-john-lee-eu-officials-meet-discuss-trade-cooperation?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350369/hong-kong-leader-john-lee-eu-officials-meet-discuss-trade-cooperation?utm_source=rss_feed Thu, 16 Apr 2026 15:19:17 +0000 Vivian Au Vivian Au Travelling from Hong Kong’s commercial heart to the site of the San Tin Technopole, a planned innovation hub under the Northern Metropolis megaproject, is an exercise in endurance. The roughly two-hour trek from Causeway Bay requires taking trains on two lines, navigating two transit interchanges and catching a ride on a public minibus. Upon arrival, visitors are not greeted by gleaming skyscrapers or shopping centres, but by a quiet patchwork of fish ponds, villages, scattered squatter homes... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350210/are-special-laws-quick-fix-speeding-hong-kongs-northern-metropolis?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350210/are-special-laws-quick-fix-speeding-hong-kongs-northern-metropolis?utm_source=rss_feed Thu, 16 Apr 2026 00:00:26 +0000 Cheryl Arcibal Cheryl Arcibal Futu Securities is the latest non-food and beverage retailer to sell coffee and other drinks in one of its outlets in Hong Kong as the online stock brokerage adapts to its clients’ lifestyle, according to a spokesman. Futu Café was officially launched on Thursday at the Futu Store on Lee Garden Road, Causeway Bay, close to its flagship store on Russell Street. Cups of espresso, Americano and iced blue coconut water, among other drinks, are available between 7.30am and 7.30pm. The launch of the... https://www.scmp.com/business/article/3350205/futu-securities-opens-coffee-shop-branch-it-adapts-changing-client-lifestyles?utm_source=rss_feed https://www.scmp.com/business/article/3350205/futu-securities-opens-coffee-shop-branch-it-adapts-changing-client-lifestyles?utm_source=rss_feed Wed, 15 Apr 2026 23:30:08 +0000 Connor Mycroft Connor Mycroft The European Union will remain open to capital from mainland China and Hong Kong even as the bloc pursues a “de-risking” strategy in certain key sectors, its budget chief has said on his first visit to the city. Piotr Serafin, the European commissioner for budget, anti-fraud and public administration, also said that the EU was keen to explore opportunities for financial collaboration with Hong Kong in areas such as green bonds, describing the city as a “bridge” to Asia. It is understood that... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350173/eu-budget-chief-pitches-collaboration-and-bonds-hong-kong-leg-asia-tour?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350173/eu-budget-chief-pitches-collaboration-and-bonds-hong-kong-leg-asia-tour?utm_source=rss_feed Wed, 15 Apr 2026 13:00:17 +0000 Edith Lin Edith Lin Hong Kong’s sole legal betting operator had earmarked HK$1 billion (US$127.7 million) and hired 180 people to develop a basketball wagering system, but will now take a financial hit after the government announced this week it was halting plans for its roll-out, a source has said. The source close to the Hong Kong Jockey Club told the South China Morning Post on Wednesday that it had already invested HK$400 million for preparatory work, including setting up a dedicated basketball betting system,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350187/jockey-club-invested-hk1-billion-basketball-betting-will-use-it-football-now?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350187/jockey-club-invested-hk1-billion-basketball-betting-will-use-it-football-now?utm_source=rss_feed Wed, 15 Apr 2026 11:22:12 +0000 Ambrose Li Ambrose Li Film buffs will be able to enjoy HK$30 (US$3.8) discounted tickets at 53 theatres across Hong Kong on April 25 as part of this year’s Cinema Day celebrations. A spokesman for the Culture, Sports and Tourism Bureau said that it was the fourth year the government’s Cultural and Creative Industries Development Agency had sponsored the event, “consistently attracting over three times more admissions than usual each year”. “In the past three years, Cinema Day recorded over 600,000 admissions and box... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350184/reel-deals-hong-kong-celebrate-cinema-day-april-25-hk30-tickets?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350184/reel-deals-hong-kong-celebrate-cinema-day-april-25-hk30-tickets?utm_source=rss_feed Wed, 15 Apr 2026 10:18:31 +0000 Ambrose Li Ambrose Li Events such as Art Basel Hong Kong and ComplexCon helped drive a 14 per cent year-on-year growth in visitor arrivals in March, but the US-Israel war with Iran could bring volatility to the travel market, the Tourism Board has said. The increase contributed to a 17 per cent year-on-year rise in visitor numbers in the first quarter of the year, hitting a total of 14.31 million. “In the coming months, developments in the Middle East may lead to volatility in the tourism market. We will closely... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350172/art-basel-hong-kong-other-events-drive-14-year-year-rise-march-tourist-arrivals?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350172/art-basel-hong-kong-other-events-drive-14-year-year-rise-march-tourist-arrivals?utm_source=rss_feed Wed, 15 Apr 2026 09:17:47 +0000 Fiona Sun Fiona Sun Hong Kong’s finance chief has expressed confidence that the city will climb to at least second place in the global ranking of international financial centres within 10 to 15 years. Financial Secretary Paul Chan Mo-po said on Wednesday at the HSBC Global Investment Summit that the city offered stability and prosperity in uncertain times, citing its strong gross domestic product growth of 3.5 per cent last year, as well as robust export performance and rising private investments. “We went through... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350155/hong-kong-set-rise-no-2-global-financial-hub-within-15-years-paul-chan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350155/hong-kong-set-rise-no-2-global-financial-hub-within-15-years-paul-chan?utm_source=rss_feed Wed, 15 Apr 2026 07:58:36 +0000 Wynna Wong Wynna Wong Attendance numbers at Hong Kong Sevens are expected to be resilient despite travel concerns over conflict in the Middle East, the event’s organiser has said, even though some operators have warned of potential pressure from rising costs and flight disruptions. The flagship rugby tournament, which runs from Friday to Sunday this week, traditionally draws tens of thousands of overseas visitors each year. But this year’s event is taking place more than a month after the United States and Israel... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350121/could-middle-east-conflict-dent-turnout-hong-kong-rugby-sevens?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350121/could-middle-east-conflict-dent-turnout-hong-kong-rugby-sevens?utm_source=rss_feed Wed, 15 Apr 2026 05:00:08 +0000 Fiona Sun Fiona Sun Hong Kong’s insurance complaints body recorded a 32.7 per cent jump in new cases last year to 857, with medical and travel policies accounting for most of the disputes. The Insurance Claims Complaints Panel under the Insurance Complaints Bureau on Tuesday released the numbers for 2025, which showed that last year’s 857 new complaint cases reflected an increase of about a third from 646 recorded in 2024. The figure marked a rise from 616 new cases in 2023, 607 in 2022 and 512 in 2021. “More... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350027/hong-kong-insurance-complaints-body-records-857-cases-last-year-33-2024?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350027/hong-kong-insurance-complaints-body-records-857-cases-last-year-33-2024?utm_source=rss_feed Tue, 14 Apr 2026 08:29:38 +0000 Lo Hoi-ying Lo Hoi-ying Hong Kong’s tram operator has launched a new mobile app that provides real-time arrival information and pledged not to raise fares this year. Hong Kong Tramways on Tuesday announced the new app which would use location data to inform commuters of the arrival times and destinations of the next three trams at their stop. Paul Tirvaudey, managing director of Hong Kong Tramways, said the operator had installed more than 400 radio frequency identification (RFID) sensors along the 30km route, as well... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350009/hong-kong-tram-operator-launches-real-time-app-pledges-no-fare-rise-year?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350009/hong-kong-tram-operator-launches-real-time-app-pledges-no-fare-rise-year?utm_source=rss_feed Tue, 14 Apr 2026 06:39:56 +0000 Ng Kang-chung Ng Kang-chung Hong Kong taxpayers may have to shoulder nearly HK$28 billion (US$3.57 billion) in bad loans from a now-defunct, fully government-backed financing scheme designed to help smaller enterprises survive the Covid pandemic. Official data released to legislators showed that of the 67,189 loan applications approved under the special scheme, 13,231 had defaulted by the end of February, involving a total sum of HK$27.8 billion. This translates to a default rate of 19.3 per cent. As guarantor, the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349954/hong-kong-taxpayers-face-hk28-billion-covid-bad-loan-burden-smes?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349954/hong-kong-taxpayers-face-hk28-billion-covid-bad-loan-burden-smes?utm_source=rss_feed Tue, 14 Apr 2026 00:30:08 +0000 Lam Ka-sing Lam Ka-sing Heartfelt tributes continued to be paid to Maisy Ho Chiu-ha, remembered as a dedicated philanthropist, after the daughter of late Hong Kong and Macau tycoon Stanley Ho Hung-sun died on Sunday, having led a notably private life. On Monday, official statements and tributes poured in from government officials and associations to mourn the loss of Maisy Ho, who had devoted herself to serving the community. She was one of 17 children of “king of gambling” Stanley Ho, and one of five siblings born to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349944/maisy-ho-remembered-dedicated-philanthropist-and-community-servant?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349944/maisy-ho-remembered-dedicated-philanthropist-and-community-servant?utm_source=rss_feed Mon, 13 Apr 2026 14:32:20 +0000 Ambrose Li Ambrose Li Passenger flight cuts triggered by surging fuel prices could temporarily affect Hong Kong’s status as a regional transit hub, aviation experts say, with the impact depending on how long the Middle East conflict lasts. Steven Cheung King-lung, chairman of the Hong Kong Professional Airline Pilots Association, said on Monday that the city faced fierce competition not only from Singapore, but also from the wider Greater Bay Area, Japan and South Korea. “While Hong Kong is no more susceptible [to... https://www.scmp.com/news/hong-kong/transport/article/3349860/impact-middle-east-war-hong-kongs-aviation-hub-status-relative-experts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3349860/impact-middle-east-war-hong-kongs-aviation-hub-status-relative-experts?utm_source=rss_feed Mon, 13 Apr 2026 06:22:00 +0000 Oscar Liu Oscar Liu Hong Kong is betting on a 36-fold increase in supercomputing power to get an edge on rivals London and New York in the race for global artificial intelligence (AI) supremacy, the city leader has said. In his keynote address at the opening of the World Internet Conference Asia-Pacific Summit in Hong Kong on Monday, Chief Executive John Lee Ka-chiu said the city’s infrastructure road map was a cornerstone of its bid to become a leading international innovation and technology (I&T) hub. “We are... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349831/hong-kong-bets-36-fold-surge-computing-power-join-top-global-ai-hubs?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349831/hong-kong-bets-36-fold-surge-computing-power-join-top-global-ai-hubs?utm_source=rss_feed Mon, 13 Apr 2026 02:43:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s reputation as a safe haven could be reinforced by the geopolitical shock waves from the US-Israel conflict with Iran, potentially supporting demand for premium office space in its core business districts, according to analysts. While the city was not insulated from global uncertainty, it could benefit over the medium term as Gulf investors reassessed geographic diversification and sought stable financial hubs, said Jack Tong, director of research and consultancy at Savills Hong... https://www.scmp.com/business/article/3349700/geopolitical-tensions-may-bolster-hong-kong-office-demand-gulf-capital-looks-east?utm_source=rss_feed https://www.scmp.com/business/article/3349700/geopolitical-tensions-may-bolster-hong-kong-office-demand-gulf-capital-looks-east?utm_source=rss_feed Mon, 13 Apr 2026 01:00:11 +0000 Lam Ka-sing Lam Ka-sing With various Hong Kong industries battered by the world’s highest petrol and diesel prices, economists and business leaders predict the oil crisis caused by the Middle East war will trigger a wave of imported inflation, driving up the cost of items ranging from toilet paper and laundry services to asphalt. Analysts have warned that the adverse impact on inflation will be more immediate than the effect on economic growth, with some saying the repercussions will emerge in the third and fourth... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349816/toilet-paper-travel-why-inflation-could-soon-hit-hongkongers-hard?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349816/toilet-paper-travel-why-inflation-could-soon-hit-hongkongers-hard?utm_source=rss_feed Mon, 13 Apr 2026 00:30:11 +0000 Alice Wu Alice Wu Hong Kong Chief Executive John Lee Ka-chiu visited one of the schools offering free after-school care for low-income families last month. After receiving positive feedback from participants, he pledged to extend the programme to benefit more families. Lee said it had helped promote family harmony, with children also reporting “positive development in both academic and social aspects”. There’s little doubt we should celebrate victories, however small, but it is equally important to examine... https://www.scmp.com/opinion/hong-kong-opinion/article/3349609/education-equality-hong-kong-policymakers-must-do-their-homework?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3349609/education-equality-hong-kong-policymakers-must-do-their-homework?utm_source=rss_feed Sun, 12 Apr 2026 21:30:08 +0000 Edith Lin Edith Lin Hong Kong authorities have signed a memorandum of understanding (MOU) with mainland China’s top internet regulator to promote the digital economy, with the city’s leader pledging to contribute to building a strong technological nation. The MOU was signed on Sunday by Secretary for Innovation, Technology and Industry Sun Dong and Wang Jingtao, deputy director of the Cyberspace Administration of China (CAC), and covers topics including artificial intelligence (AI) promotion, cross-boundary data... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349815/hong-kong-mainland-china-sign-milestone-mou-promoting-digital-economy?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349815/hong-kong-mainland-china-sign-milestone-mou-promoting-digital-economy?utm_source=rss_feed Sun, 12 Apr 2026 14:18:43 +0000 Oscar Liu Oscar Liu Hong Kong and Shanghai have taken a significant step in the digital integration of the two financial hubs by linking authentication systems, while five mainland Chinese enterprises have established operations in the city, officials have said. Both sides highlighted the progress on Sunday during the first annual meeting of the Working Group on Shanghai and Hong Kong Digital Cooperation. They gathered in Hong Kong to review a deepening partnership over the past year aimed at tackling technical... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349811/progress-hailed-hong-kong-shanghai-link-digital-authentication-systems?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349811/progress-hailed-hong-kong-shanghai-link-digital-authentication-systems?utm_source=rss_feed Sun, 12 Apr 2026 12:25:53 +0000 Denise Tsang Denise Tsang Hong Kong has struck a balance between financial security and innovation in its strategic roles as a “testing ground” and “firewall” for the nation’s reform and opening up, the city’s finance chief has said. Financial Secretary Paul Chan Mo-po said on Sunday that security was core to the goal of achieving high-quality development as geopolitical tensions created risks in global financial markets and energy supplies. As Hong Kong rolled out the first batch of stablecoin licences last week, the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349786/hong-kong-balancing-financial-security-innovation-nations-firewall-paul-chan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349786/hong-kong-balancing-financial-security-innovation-nations-firewall-paul-chan?utm_source=rss_feed Sun, 12 Apr 2026 07:41:09 +0000 Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed Sat, 11 Apr 2026 09:10:21 +0000 Enoch Yiu Enoch Yiu Fang Liu, a partner at global law firm Clifford Chance, counts among his clients many technology companies that are keen to list in Hong Kong, but find the current requirements cumbersome. Clifford Chance has helped more than a dozen innovative companies raise funds under the new listing regime since 2018, when Hong Kong Exchanges and Clearing (HKEX) introduced reforms for pre-revenue biotech firms and companies with weighted voting rights (WVR), where one class of shareholders carries more... https://www.scmp.com/business/markets/article/3349647/hong-kongs-listing-reform-20-can-it-outshine-global-rivals-innovative-firms?utm_source=rss_feed https://www.scmp.com/business/markets/article/3349647/hong-kongs-listing-reform-20-can-it-outshine-global-rivals-innovative-firms?utm_source=rss_feed Sat, 11 Apr 2026 03:00:12 +0000 Ng Kang-chung,Lam Ka-sing Ng Kang-chung,Lam Ka-sing Hong Kong will directly pay diesel subsidies to local oil companies based on sales volume after lawmakers approved a massive HK$1.8 billion government scheme to ease rocketing fuel prices for the transport sector over the next two months. The city’s environment minister maintained that a mechanism would be in place so the government could “know” and “monitor” if the oil companies tried to abuse the scheme by increasing prices, but did not say how. Senior government officials briefed lawmakers at... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349614/hong-kong-government-must-guard-against-exploitation-diesel-subsidy-experts-warn?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349614/hong-kong-government-must-guard-against-exploitation-diesel-subsidy-experts-warn?utm_source=rss_feed Fri, 10 Apr 2026 05:16:09 +0000 Lam Ka-sing Lam Ka-sing Hong Kong bus company boss Martin Lau feels overwhelmed as he attempts every option possible to minimise mounting losses wrought by runaway fuel prices. He has done everything he can think of, from trying to reduce services to doing his own repairs on his fleet of more than 20 coaches. Lau, managing director of ABC Touring Car Company, told the South China Morning Post that he and his team had no choice for now but to absorb the losses as there was no help he could access. “The reality is cruel,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349564/oil-crisis-just-start-economic-pain-hongkongers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349564/oil-crisis-just-start-economic-pain-hongkongers?utm_source=rss_feed Fri, 10 Apr 2026 00:30:09 +0000 Matthew Cheng Matthew Cheng A proposed increase in the Hong Kong government’s borrowing cap for its bond programmes to HK$900 billion (US$115 billion) will be sufficient to finance infrastructure projects over the next three years, officials have said, while leaving the door open to further rises in the long run if needed. Andrew Lai Chi-wah, permanent secretary for financial services and the treasury, made the remarks on Thursday during a Legislative Council subcommittee meeting scrutinising the plan to lift the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349561/hong-kong-seeks-raise-bond-issuance-ceiling-hk900-billion?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349561/hong-kong-seeks-raise-bond-issuance-ceiling-hk900-billion?utm_source=rss_feed Thu, 09 Apr 2026 15:22:46 +0000 Emily Hung Emily Hung Former Hong Kong leader Leung Chun-ying has launched a traditional Chinese medicine (TCM) trading platform aimed at connecting mainland Chinese manufacturers with international markets by leveraging the city’s testing and certification systems. Leung, also a vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference, said on Thursday that the platform, an independent third party, aimed to promote the centralisation, standardisation, marketisation and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349546/ex-hong-kong-leaders-chinese-medicine-platform-link-mainland-and-global-markets?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349546/ex-hong-kong-leaders-chinese-medicine-platform-link-mainland-and-global-markets?utm_source=rss_feed Thu, 09 Apr 2026 11:58:14 +0000 Oscar Liu Oscar Liu Japanese band One OK Rock has abruptly cancelled the Hong Kong leg of its Asian tour in early May due to “unforeseen circumstances”, leaving local fans disappointed. The announcement on Thursday followed a similar move in early March, when the band cancelled its May 9 concert in Shanghai. Led by frontman Taka, the band, which has 3 million Instagram followers, was originally slated to perform at the Central Harbourfront Event Space on May 2 and 3 as part of its “Detox” Asia Tour 2026. “This... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349517/japanese-band-one-ok-rock-cancels-hong-kong-concerts-may-no-specific-reason-given?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349517/japanese-band-one-ok-rock-cancels-hong-kong-concerts-may-no-specific-reason-given?utm_source=rss_feed Thu, 09 Apr 2026 09:01:09 +0000 Leopold Chen,Ambrose Li,Olga Wong Leopold Chen,Ambrose Li,Olga Wong The Hong Kong government has proposed short-term measures including diesel subsidies of HK$3 per litre and reduced tunnel tolls to ease pressure on the commercial transport sector, which is grappling with soaring fuel prices. Confirming an earlier South China Morning Post report, the government said on Thursday night that a recently formed task force monitoring fuel price movements had floated four temporary measures prioritising diesel-powered commercial vehicles and vessels, and ferries. The... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349450/hong-kong-roll-out-relief-measures-transport-sector-fuel-costs-soar?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349450/hong-kong-roll-out-relief-measures-transport-sector-fuel-costs-soar?utm_source=rss_feed Thu, 09 Apr 2026 02:57:21 +0000 Matteo Giovannini Matteo Giovannini Hong Kong’s identity as a world-leading international hub has never been static. It has been built over time through openness, adaptability and, crucially, diversity. Recent discussions about the city’s talent strategy, including concerns that the overwhelming majority of applicants under key admission schemes come from mainland China, raise a deeper structural question: can Hong Kong remain truly global if its talent pipeline becomes increasingly concentrated? This is not about downplaying the... https://www.scmp.com/opinion/hong-kong-opinion/article/3349169/hong-kongs-global-future-depends-diverse-talent?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3349169/hong-kongs-global-future-depends-diverse-talent?utm_source=rss_feed Thu, 09 Apr 2026 01:30:08 +0000 Fiona Sun Fiona Sun A two-week ceasefire between the United States and Iran is unlikely to significantly ease fuel prices in the near term without a complete end to the conflict, Hong Kong economists have warned, citing uncertainties in the volatile situation. Economist Simon Lee Siu-po of the Chinese University of Hong Kong’s Shenzhen Finance Institute said that uncertainties remained, adding that fuel prices were still subject to volatility unless a permanent ceasefire was achieved. “There are lots of variables –... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349407/us-iran-ceasefire-unlikely-cause-major-fuel-price-drop-hong-kong-economists?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349407/us-iran-ceasefire-unlikely-cause-major-fuel-price-drop-hong-kong-economists?utm_source=rss_feed Thu, 09 Apr 2026 00:30:15 +0000 Theodora Yu Theodora Yu Cinema box office takings in Hong Kong over the first four days of the Easter break more than doubled year on year, reaching HK$25.93 million (US$3.31 million) compared with HK$12.75 million over the same period in 2025, despite a holiday exodus. According to the Immigration Department, residents made around 2.13 million outbound and 1.81 million inbound trips between Good Friday and Monday, resulting in a net outflow of 319,173. For the five-day break to Tuesday, Hongkongers made 2.56 million... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349404/easter-box-office-takings-twice-2025-break-despite-exodus-hongkongers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349404/easter-box-office-takings-twice-2025-break-despite-exodus-hongkongers?utm_source=rss_feed Wed, 08 Apr 2026 11:06:01 +0000 Oscar Liu Oscar Liu Nearly a quarter of Hong Kong companies are expected to widely adopt AI this year, a threefold increase from a year ago, while a growing number of business leaders believe the technology will result in smaller headcounts, a survey has revealed. Professional services firm KPMG released the Hong Kong Employment Outlook 2026 on Wednesday, with the poll showing that 24 per cent of organisations were set to widely adopt artificial intelligence (AI), up from just 8 per cent in the previous... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349370/24-hong-kong-firms-widely-adopt-ai-smaller-headcounts-expected-kpmg?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349370/24-hong-kong-firms-widely-adopt-ai-smaller-headcounts-expected-kpmg?utm_source=rss_feed Wed, 08 Apr 2026 08:20:39 +0000 Oscar Liu Oscar Liu Up to 80 per cent of Hong Kong’s fishing vessels have suspended operations nearly a month ahead of a planned moratorium, according to a sector representative, as the doubling of “red oil” prices caused by the war in the Middle East has made going out to sea untenable for operators. Representatives for the local transport and maritime sectors welcomed the two-week ceasefire announced by the United States and Iran and the subsequent reopening of the Strait of Hormuz, but called for targeted,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349339/80-hong-kong-fishing-vessels-grounded-moratorium-due-high-fuel-prices?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349339/80-hong-kong-fishing-vessels-grounded-moratorium-due-high-fuel-prices?utm_source=rss_feed Wed, 08 Apr 2026 05:47:16 +0000 Vivian Au Vivian Au Hong Kong authorities will set up a company this year to accelerate the development of an innovation hub near the border, with firms already expressing interest in moving into the San Tin Technopole, a senior tech official has said. Permanent Secretary for Innovation, Technology and Industry Kevin Choi Kit-ming also told the South China Morning Post that some companies might soon be able to transfer data and biological samples across the border once tailor-made measures were introduced later... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349306/hong-kong-set-company-year-fast-track-san-tin-tech-hub-firms-eye-move?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349306/hong-kong-set-company-year-fast-track-san-tin-tech-hub-firms-eye-move?utm_source=rss_feed Wed, 08 Apr 2026 02:00:21 +0000 Oscar Liu Oscar Liu A new research institute in Hong Kong is set to ramp up efforts to develop “AI for all” as early as this month, mapping out a strategy to strengthen the government’s capabilities while ensuring all residents and sectors benefit from the technology, a senior official has said. Permanent Secretary for Innovation, Technology and Industry Kevin Choi Kit-ming said one of the priorities of the Hong Kong Artificial Intelligence Research and Development Institute would be to integrate a locally... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349304/new-research-institute-ramp-efforts-hong-kong-pursues-ai-all?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349304/new-research-institute-ramp-efforts-hong-kong-pursues-ai-all?utm_source=rss_feed Wed, 08 Apr 2026 00:30:09 +0000 Ambrose Li Ambrose Li Mud and rainy weather caused chaos and frustration at a high-profile open-air coffee festival in Hong Kong’s West Kowloon Cultural District over the Easter weekend, with the arts hub’s managing authority urging the organiser to take timely and appropriate measures to respond to vendors. The weather put a dampener on the four-day 2026 Coffee Hong Kong @WestK, which was held at the Great Lawn of the district’s Art Park. Some festival visitors were seen wearing shoe covers as they walked over the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349293/backlash-brews-hong-kong-coffee-festival-over-response-bad-weather?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349293/backlash-brews-hong-kong-coffee-festival-over-response-bad-weather?utm_source=rss_feed Tue, 07 Apr 2026 13:10:38 +0000