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 Lam Ka-sing Lam Ka-sing Some patrons of an exclusive Hong Kong sports club have escalated action against the Rosewood Hotel Group’s plan to change operations at its clubhouse in Central, but the hospitality firm says it has made some “refinements” to the arrangement. A representative of a group of concerned patrons at the Hong Kong Golf & Tennis Academy (HKGTA) told the South China Morning Post on Thursday that complaints had been filed with the Consumer Council watchdog. The group had also threatened to take the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356204/hong-kong-sports-club-patrons-threaten-legal-action-over-operational-changes?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356204/hong-kong-sports-club-patrons-threaten-legal-action-over-operational-changes?utm_source=rss_feed Sat, 06 Jun 2026 12:49:51 +0000 Jeffie Lam,Cannix Yau Jeffie Lam,Cannix Yau Hong Kong leader John Lee Ka-chiu has wrapped up his visit to Central Asia after meeting high-level leaders and sealing nearly 100 partnership agreements aimed at opening the “big door” for local and mainland Chinese businesses. While reviving direct flights to the region was considered a big win from the trip, observers noted that the real challenges lay ahead as authorities and different parties must take necessary follow-up actions to realise the gains. Local authorities and businesses signed... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356215/96-deals-signed-flights-planned-whats-next-hong-kong-and-central-asia?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356215/96-deals-signed-flights-planned-whats-next-hong-kong-and-central-asia?utm_source=rss_feed Sat, 06 Jun 2026 10:53:23 +0000 Eric Jiang Eric Jiang Weeks before mainland Chinese student Carol Chen graduated from Baptist University in Hong Kong in July, the 22-year-old did the math and weighed the cost of living in the city against returning home. Renting a room in the city would consume around half of the HK$20,000 (US$2,552) starting salary she expected as a junior data analyst. “If I go back to Shanghai, I will only need to worry about daily expenses,” Chen, a maths and statistics graduate, said, referring to money saved by living with... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356168/dont-dream-its-over-mainland-students-rethink-hong-kong-over-costs-culture?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356168/dont-dream-its-over-mainland-students-rethink-hong-kong-over-costs-culture?utm_source=rss_feed Sat, 06 Jun 2026 01:00:10 +0000 Jeffie Lam Jeffie Lam Hong Kong serves as an ideal platform to help Uzbek enterprises expand through its world-class professional services and international business environment, the city’s leader has told the Central Asian country’s prime minister as he wrapped up a five-day regional tour. Sources said Chief Executive John Lee Ka-chiu on Friday also invited Prime Minister Abdulla Aripov to be a keynote speaker at the coming Belt and Road Summit to be held in Hong Kong in September. It was understood that during a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356166/hong-kong-ideal-platform-uzbek-firms-spread-wings-globally-john-lee-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356166/hong-kong-ideal-platform-uzbek-firms-spread-wings-globally-john-lee-says?utm_source=rss_feed Fri, 05 Jun 2026 14:59:03 +0000 Ng Kang-chung Ng Kang-chung A Hong Kong tour guide who coerced visitors into shopping has been struck off for damaging the sector’s reputation and breaching professional conduct, in the second disciplinary action of its kind in less than two months. The Travel Industry Authority said on Friday it revoked Siu Man-chung’s tour guide licence after investigating complaints that Siu made “inappropriate remarks” to pressure mainland Chinese visitors into shopping during tours between February and April. The authority said on... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356139/hong-kong-tour-guide-stripped-licence-over-coercing-visitors-shopping?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356139/hong-kong-tour-guide-stripped-licence-over-coercing-visitors-shopping?utm_source=rss_feed Fri, 05 Jun 2026 11:00:29 +0000 Ambrose Li Ambrose Li A job market mismatch, shrinking demand for junior roles and relatively comfortable family living conditions have driven up Hong Kong’s share of young people who are not in education, employment, or training (NEET) compared to their regional peers, observers have warned. Their comments on Friday followed government figures released in response to lawmaker Elvin Lee Ka-kui, showing the city’s NEET rate was 6 per cent. A Legislative Council report last month put the 2025 figure at 6.3 per cent –... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356091/why-are-more-hong-kong-youth-not-education-work-or-training-asian-peers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356091/why-are-more-hong-kong-youth-not-education-work-or-training-asian-peers?utm_source=rss_feed Fri, 05 Jun 2026 08:27:26 +0000 Ken Ip Ken Ip Few things age faster than a business plan built for a world that no longer exists. That may be the most important lesson from the saga of 11 Skies, the vast retail, entertainment and commercial complex beside Hong Kong International Airport that now appears destined for a dramatic reset. Reports that the Airport Authority could take majority control of the project from its private developer have triggered debate over who should bear the cost and who made the wrong bets. The real story of 11... https://www.scmp.com/opinion/hong-kong-opinion/article/3355715/real-story-11-skies-not-about-failed-shopping-centre?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3355715/real-story-11-skies-not-about-failed-shopping-centre?utm_source=rss_feed Fri, 05 Jun 2026 01:30:07 +0000 Jeffie Lam Jeffie Lam Hong Kong has signed 96 agreements with Kazakhstan and Uzbekistan worth US$1.65 billion during city leader John Lee Ka-chiu’s visit to Central Asia, which he hailed as a “successful” mission setting the stage for closer government and business ties with the region. Lee on Thursday also said Hong Kong had initiated an agreement with Uzbekistan that paved the way for airlines on both sides to launch a new direct route, days after the city’s flag carrier Cathay Pacific Airways announced it would... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356003/hong-kong-signs-96-agreements-kazakhstan-and-uzbekistan-worth-us165-billion?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356003/hong-kong-signs-96-agreements-kazakhstan-and-uzbekistan-worth-us165-billion?utm_source=rss_feed Thu, 04 Jun 2026 15:15:48 +0000 Denise Tsang Denise Tsang Hong Kong rail giant the MTR Corporation has raised €3 billion (US$3.5 billion) by selling its first euro-denominated public green bonds, in its largest bond deal to date. The semi-privatised corporation said on Thursday that the sale also marked the largest Asia ex-Japan non-sovereign euro green bond offering. Amid a string of new rail projects in Hong Kong, the MTR Corp is raising fresh capital to fund them. The latest deal is the third round of bond sales so far this year, bringing the total... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356000/hong-kongs-mtr-corporation-raises-eu3-billion-its-first-public-euro-green-bond-sale?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3356000/hong-kongs-mtr-corporation-raises-eu3-billion-its-first-public-euro-green-bond-sale?utm_source=rss_feed Thu, 04 Jun 2026 14:26:41 +0000 Lo Hoi-ying Lo Hoi-ying Direct flights between Hong Kong and Kazakhstan could save travellers up to 10 hours and open the city’s shorelines to tourists from landlocked Central Asia, lawmakers have said after the flag carrier announced plans to launch an Almaty route next year. Legislator Jonathan Stuart Lamport, who represents the business sector, said on Thursday the announcement had received widespread support from the industry, as direct flights between Hong Kong and Almaty would significantly strengthen ties... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355926/direct-hong-kong-almaty-flights-may-cut-travel-time-10-hours-draw-tourists?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355926/direct-hong-kong-almaty-flights-may-cut-travel-time-10-hours-draw-tourists?utm_source=rss_feed Thu, 04 Jun 2026 06:27:11 +0000 Jeffie Lam Jeffie Lam Uzbekistan plans to launch direct flights to Hong Kong this year, with details being finalised with local authorities, the South China Morning Post has learned, in a move to strengthen ties between Central Asia and the city. The new route follows close on the heels of a plan by Hong Kong flag carrier Cathay Pacific Airways to launch a service to Almaty in Kazakhstan in the first quarter of next year, which was one of the outcomes of Chief Executive John Lee Ka-chiu’s official visit to the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355917/hong-kong-and-uzbekistan-press-ahead-reciprocal-30-day-visa-free-agreement?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355917/hong-kong-and-uzbekistan-press-ahead-reciprocal-30-day-visa-free-agreement?utm_source=rss_feed Thu, 04 Jun 2026 05:32:33 +0000 Daryl Ng Daryl Ng Becoming an astronaut and exploring space has been the dream of generations of young people and Hong Kong has welcomed this pioneering moment. Dr Lai Ka-Ying, who studied computer science at the University of Hong Kong (HKU), has become the first astronaut from Hong Kong, and the fourth female astronaut from China, to journey into space. As a payload specialist, she will operate the observatory designed by the Hong Kong University of Science and Technology (HKUST) to track greenhouse gas... https://www.scmp.com/opinion/hong-kong-opinion/article/3355588/hong-kongs-first-astronaut-success-also-story-youth-potential?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3355588/hong-kongs-first-astronaut-success-also-story-youth-potential?utm_source=rss_feed Thu, 04 Jun 2026 01:30:06 +0000 Wynna Wong Wynna Wong Authorities are considering a pilot booking system for one of Hong Kong’s most popular hiking routes and creating a new marine park at Sharp Island in Sai Kung, following bigger-than-expected crowds during mainland Chinese holidays. The proposals were outlined in a paper submitted to a Legislative Council ecology and tourism subcommittee ahead of a meeting on Monday. The Agriculture, Fisheries and Conservation Department said visitor numbers at the Po Pin Chau section of Sai Kung East Country... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355877/booking-system-considered-protect-popular-hong-kong-hiking-trail-crowds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355877/booking-system-considered-protect-popular-hong-kong-hiking-trail-crowds?utm_source=rss_feed Thu, 04 Jun 2026 00:00:12 +0000 Ambrose Li Ambrose Li The non-executive chairman of Hong Kong rail giant the MTR Corporation has been elected as the new head of the city’s largest business chamber for a one-year term. Jacob Kam Chak-pui, 64, took over as chairman of the Hong Kong General Chamber of Commerce on Wednesday following an election among members, expressing “strong confidence” in the city’s economic development. Kam, previously the chamber’s vice-chairman, said he believed the market outlook was rebounding as the global macroeconomic... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355873/mtr-corp-boss-jacob-kam-elected-chairman-hong-kongs-largest-business-chamber?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355873/mtr-corp-boss-jacob-kam-elected-chairman-hong-kongs-largest-business-chamber?utm_source=rss_feed Wed, 03 Jun 2026 15:42:31 +0000 Matteo Giovannini Matteo Giovannini For years, Hong Kong’s obituary has been repeatedly written by international commentators. Geopolitical tensions, pandemic isolation, concerns over capital flight and questions surrounding the city’s future contributed to a narrative of irreversible decline. In many Western analyses, the assumption that Hong Kong’s best days as an international financial centre were behind it became almost automatic. Yet the latest global wealth management data tells a very different story. According to... https://www.scmp.com/opinion/hong-kong-opinion/article/3355567/hong-kong-emerging-leading-capital-hub-multipolar-era?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3355567/hong-kong-emerging-leading-capital-hub-multipolar-era?utm_source=rss_feed Wed, 03 Jun 2026 01:30:06 +0000 Jeffie Lam,Wynna Wong Jeffie Lam,Wynna Wong At least one company under Kazakhstan’s sovereign wealth fund will list on the Hong Kong stock exchange this year, the head of the city’s Trade Development Council has said. Council chairman Frederick Ma Si-hang on Tuesday also underscored the country’s huge potential, noting that Kazakhstan was seeking to privatise its state-owned companies and Hong Kong had emerged as the ideal location due to its mature capital market. A high-level delegation organised by the council and led by Chief... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355747/least-1-firm-under-kazakh-wealth-fund-will-list-hong-kong-year?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355747/least-1-firm-under-kazakh-wealth-fund-will-list-hong-kong-year?utm_source=rss_feed Tue, 02 Jun 2026 23:30:04 +0000 Jeffie Lam,Leopold Chen Jeffie Lam,Leopold Chen Two Hong Kong media organisations have joined forces with one of Kazakhstan’s largest state-owned conglomerates to strengthen collaboration in journalism and information exchange. The South China Morning Post also signed a partnership with Kazakhstan’s special financial zone to boost ties between Central Asia, Hong Kong and mainland China. The agreements are among memorandums of understanding (MOUs) signed on Tuesday between Hong Kong sectors and their counterparts in Kazakhstan, as Chief... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355722/hong-kong-media-groups-sign-kazakhstan-deals-deepen-journalism-business-ties?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355722/hong-kong-media-groups-sign-kazakhstan-deals-deepen-journalism-business-ties?utm_source=rss_feed Tue, 02 Jun 2026 10:59:29 +0000 Wynna Wong Wynna Wong Hong Kong’s retail sales rose by 8.6 per cent year on year in April, extending the upturn for a 12th consecutive month, although industry leaders warned that a broad-based recovery had yet to take hold, with gains driven by specific factors rather than a general rebound in consumer spending. Provisional figures released by the Census and Statistics Department on Tuesday showed retail sales reached HK$31.4 billion (US$4.3 billion) in April, compared with HK$28.9 billion a year earlier. Retail... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355689/hong-kong-retail-sales-rise-86-april-back-higher-visitor-arrivals?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355689/hong-kong-retail-sales-rise-86-april-back-higher-visitor-arrivals?utm_source=rss_feed Tue, 02 Jun 2026 08:48:30 +0000 Jeffie Lam Jeffie Lam Hong Kong will relaunch direct flights to Almaty in Kazakhstan in the first quarter of next year, the city’s leader has revealed as he vowed to push for visa-free access to the Central Asian country for up to 30 days. Confirming a South China Morning Post report, Cathay Pacific Airways on Tuesday said it would operate the services to Almaty – Kazakhstan’s commercial and cultural capital – three flights per week with an Airbus A330-300 widebody aircraft. Chief Executive John Lee Ka-chiu on... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355653/hong-kong-relaunch-direct-flights-kazakhstans-almaty-first-quarter-2027?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355653/hong-kong-relaunch-direct-flights-kazakhstans-almaty-first-quarter-2027?utm_source=rss_feed Tue, 02 Jun 2026 05:51:35 +0000 Jeffie Lam Jeffie Lam A lack of direct flights has been a bugbear to Hong Kong and Kazakhstan forging closer ties but with the city’s leader now in Astana and hints of incentives on the table, hopes are rising for a breakthrough. It is understood that a Hong Kong-based airline is now exploring launching such flights up to three times a week, but the details are being ironed out. Asel Suankulova, managing director of Kazakh Invest’s Investment Promotion and Marketing Department, told the South China Morning Post that... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355604/hong-kong-leaders-visit-set-unlock-kazakh-flights-incentives-eyed?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355604/hong-kong-leaders-visit-set-unlock-kazakh-flights-incentives-eyed?utm_source=rss_feed Tue, 02 Jun 2026 00:30:05 +0000 Jeffie Lam Jeffie Lam Hong Kong leader John Lee Ka-chiu held talks with Kazakhstan’s president on Monday at the start of his visit to Central Asia, highlighting the city’s role as a “superconnector” bridging businesses with global markets, as his delegation sealed wide-ranging partnership deals. Lee began his five-day trip on Monday by discussing ways to deepen economic cooperation and strengthen bilateral ties with Kazakhstan, meeting President Kassym-Jomart Tokayev as well as Serik Zhumangarin, the deputy prime... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355603/make-use-hong-kongs-advantages-john-lee-urges-kazakhstan-leaders-companies?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355603/make-use-hong-kongs-advantages-john-lee-urges-kazakhstan-leaders-companies?utm_source=rss_feed Mon, 01 Jun 2026 15:50:12 +0000 Enoch Yiu Enoch Yiu The government’s investment arm achieved a double-digit internal rate of return last year, greater than many newly established venture capital funds, according to its CEO. “Many overseas funds have a J-curve performance, as they tend to suffer an initial loss before a gain,” said Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC). “But we have already bypassed the J-curve, as we have earned HK$2.3 billion [US$293 million] in 2024, while we have achieved a double-digit rate of... https://www.scmp.com/business/article/3355522/hong-kong-governments-venture-fund-eyes-bigger-bankroll-after-double-digit-return?utm_source=rss_feed https://www.scmp.com/business/article/3355522/hong-kong-governments-venture-fund-eyes-bigger-bankroll-after-double-digit-return?utm_source=rss_feed Mon, 01 Jun 2026 06:24:26 +0000 Matthew Cheng Matthew Cheng Hong Kong’s finance chief has said the Middle East war has played only a limited role in driving up local inflation, noting the city’s service-based economy and stable energy supplies from mainland China have mitigated the effects of external shocks. Briefing the Legislative Council on Monday, Financial Secretary Paul Chan Mo-po said the surge in global fuel prices was expected to affect fuel-related consumer prices, pushing inflation higher. “Rising international oil prices will continue to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355520/impact-middle-east-war-hong-kongs-inflation-limited-says-finance-chief?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355520/impact-middle-east-war-hong-kongs-inflation-limited-says-finance-chief?utm_source=rss_feed Mon, 01 Jun 2026 06:10:55 +0000 Alice Wu Alice Wu It’s that time of the year again – tax season, so don’t forget to fill out your return. It’s also the time of the year when the Hong Kong government decides on pay rises for its civil service staff of over 170,000. There’s a well-established system for deciding on pay rises. It includes the pay trend survey submitted to the government last week. Its preliminary results indicate that civil servants are in line for wage increases of 4.12 per cent for senior civil servants, 2.64 per cent for... https://www.scmp.com/opinion/hong-kong-opinion/article/3355319/who-benefits-significant-improvement-hong-kongs-finances?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3355319/who-benefits-significant-improvement-hong-kongs-finances?utm_source=rss_feed Mon, 01 Jun 2026 01:30:07 +0000 Jeffie Lam Jeffie Lam Hong Kong’s leader begins an official visit to Central Asia on Monday with his largest delegation to date, aiming to explore new markets amid geopolitical uncertainties and help mainland Chinese companies “go global”. Sources said dozens of memorandums of understanding (MOUs) were expected to be signed by representatives from various sectors and their counterparts in Kazakhstan and Uzbekistan during the five-day visit. One of the deals under the spotlight will be between tungsten miner Jiaxin... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355485/hong-kongs-john-lee-central-asia-mission-explore-new-markets-expand-ties?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355485/hong-kongs-john-lee-central-asia-mission-explore-new-markets-expand-ties?utm_source=rss_feed Mon, 01 Jun 2026 01:00:13 +0000 Leopold Chen Leopold Chen Hongkong Post’s worsening financial situation may require not only an injection of funds but also a return to being a government-funded department providing basic public services, observers have said. The analysts’ views follow the authorities’ plan to inject HK$4.6 billion (US$587 million) as a lifeline to support Hongkong Post’s operations over the next three years, amid similar losses faced by postal operators worldwide. Hongkong Post has operated on a self-funding basis since 1995, following... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355474/can-hongkong-post-be-saved-or-should-it-become-taxpayer-funded-public-service?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355474/can-hongkong-post-be-saved-or-should-it-become-taxpayer-funded-public-service?utm_source=rss_feed Sun, 31 May 2026 12:18:25 +0000 Oscar Liu Oscar Liu A combination of sky-high rents, career anxiety and social isolation is placing a mental and financial strain on mainland Chinese students living in Hong Kong, even as more than 40 per cent of them plan to remain in the city, a survey has revealed. The study released by the Youth Expats Association on Sunday also found that developing a sense of belonging outweighed lucrative salaries as a factor in determining whether these students choose to stay in the city after graduation. According to the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355464/high-rents-job-fears-rank-among-top-stressors-mainland-students-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355464/high-rents-job-fears-rank-among-top-stressors-mainland-students-hong-kong?utm_source=rss_feed Sun, 31 May 2026 10:22:37 +0000 Matthew Cheng Matthew Cheng Hong Kong is considering launching a new offshore renminbi venture fund to channel capital into cutting-edge technology and emerging industries while supporting the internationalisation of the yuan, the finance chief has said. The initiative would align with the nation’s latest five-year plan, which calls on Hong Kong to enhance its role as an international financial hub and expand its offshore renminbi business. “We are actively considering establishing a new offshore renminbi venture capital... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355448/hong-kong-considers-new-offshore-yuan-venture-fund-tech-emerging-industries?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355448/hong-kong-considers-new-offshore-yuan-venture-fund-tech-emerging-industries?utm_source=rss_feed Sun, 31 May 2026 06:25:24 +0000 Jeffie Lam Jeffie Lam The mystique of Central Asia and its deepening business ties with mainland China have prompted more Hongkongers to choose the region for holidays, according to travel agency heads. They were also optimistic that Chief Executive John Lee Ka-chiu’s high-level visit to Kazakhstan and Uzbekistan this week would further promote Central Asia, encouraging residents to step off the beaten path and explore the region’s lesser-known tourism spots. Alex Lee Chun-ting, general manager of Miramar Travel,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355405/more-hong-kong-tourists-drawn-mysterious-central-asia-travel-agencies-say?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355405/more-hong-kong-tourists-drawn-mysterious-central-asia-travel-agencies-say?utm_source=rss_feed Sun, 31 May 2026 01:00:12 +0000 Edith Lin,Eric Jiang Edith Lin,Eric Jiang Hong Kong should urgently address its bottlenecks in developing a yacht economy by improving immigration procedures, upgrading mooring facilities and curating niche tourism itineraries following Beijing’s policy relaxation on yachts from the city sailing to mainland China, industry leaders have said. Their calls came on Saturday after Beijing allowed Hong Kong and Macau yachts to enter designated ports in the Greater Bay Area “exempt from guarantees” and benefit from “a temporary ship... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355428/hong-kong-must-remove-bottlenecks-grow-yacht-economy-industry-leaders-say?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355428/hong-kong-must-remove-bottlenecks-grow-yacht-economy-industry-leaders-say?utm_source=rss_feed Sat, 30 May 2026 14:19:46 +0000 Eric Jiang,Natalie Wong,Edith Lin,Wynna Wong Eric Jiang,Natalie Wong,Edith Lin,Wynna Wong Implementation details of a policy to allow Hong Kong-registered yachts to berth more easily at designated mainland Chinese ports in the Greater Bay Area will be unveiled by Beijing in “mid-June” at the earliest, sources have said, with the anticipated move already drawing interest from local charter companies keen to tailor tours for affluent clients. The South China Morning Post also learned on Saturday that the Port of Nansha is among the designated maritime facilities – and the only one in... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355395/beijing-allows-hong-kong-yachts-berth-more-easily-some-mainland-chinese-ports?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355395/beijing-allows-hong-kong-yachts-berth-more-easily-some-mainland-chinese-ports?utm_source=rss_feed Sat, 30 May 2026 04:19:22 +0000 Cannix Yau Cannix Yau Hong Kong’s taxi trade has warned that 10 per cent of the city’s cab owners could soon default on vehicle mortgages as licence values have plunged, with many drivers switching to the new ride-hailing regime under which 10,000 permits will be issued. The market value of a taxi licence has fallen over the past two decades, from a historic high of HK$7.66 million in 2009 to HK$2.62 million (US$334,360) for urban or red cabs and HK$1.45 million for green or New Territories taxis as of May this year,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355375/taxi-trade-fears-10-could-lose-cabs-drivers-gear-ride-hailing?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355375/taxi-trade-fears-10-could-lose-cabs-drivers-gear-ride-hailing?utm_source=rss_feed Sat, 30 May 2026 01:00:14 +0000 Eric Jiang Eric Jiang Hong Kong has the “most complete renminbi financial ecosystem” and is well placed to serve as a hub for Central Asian countries seeking to expand the currency’s use in trade and investment, according to a veteran banker. Stephen Chan Man, deputy chief executive of Bank of China (Hong Kong), also said on Thursday that the high-level delegation led by Chief Executive John Lee Ka-chiu next month to Kazakhstan and Uzbekistan was an opportunity to deepen financial ties with the region under a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355218/hong-kong-well-placed-help-central-asia-grow-yuan-trade-leading-banker-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355218/hong-kong-well-placed-help-central-asia-grow-yuan-trade-leading-banker-says?utm_source=rss_feed Thu, 28 May 2026 23:00:14 +0000 Mia Nurmamat Mia Nurmamat As news spread on Wednesday that Hong Kong banks were tightening scrutiny on mainland Chinese clients opening savings and investment accounts, Zhe Ye – an auctioneer based in the southwestern province of Yunnan – was stunned. The former asset appraiser had been planning a trip to Hong Kong to open an account, hoping to buy overseas assets ranging from the Nasdaq and S&P 500 to shares in newly listed companies such as SpaceX. “I really regret not opening a Hong Kong account earlier,” Zhe said,... https://www.scmp.com/economy/china-economy/article/3355187/mainland-chinese-react-hong-kong-tightens-access-offshore-investment-accounts?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3355187/mainland-chinese-react-hong-kong-tightens-access-offshore-investment-accounts?utm_source=rss_feed Thu, 28 May 2026 11:00:19 +0000 Oscar Liu Oscar Liu Hong Kong’s exports rose by nearly 43 per cent year on year in April, driven by strong global demand for artificial intelligence-related electronics, although the government warned that the Middle East war could cloud the near-term outlook. Provisional figures released by the Census and Statistics Department on Thursday showed that the total value of exports rose by 42.9 per cent in April to HK$620.9 billion (US$79.3 billion), following a 35.8 per cent increase in March. April’s surge represents... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355186/hong-kong-exports-surge-43-april-driven-strong-demand-ai-electronics?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355186/hong-kong-exports-surge-43-april-driven-strong-demand-ai-electronics?utm_source=rss_feed Thu, 28 May 2026 10:51:54 +0000 Ambrose Li Ambrose Li Lawmakers have urged transport authorities to merge Hong Kong’s two cross-boundary ferry piers to optimise capacity and cater to the rising demand from luxury yachts, amid growing alternative transport options for travelling to mainland China. Their comments came on Thursday after the China Ferry Terminal and the Hong Kong-Macau Ferry Terminal recorded a 6.5 per cent year-on-year drop to 7.74 million passengers in 2025, with the transport secretary stressing that “prudent examination” was needed... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355133/merge-hong-kongs-2-cross-boundary-ferry-piers-optimise-capacity-lawmakers-urge?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355133/merge-hong-kongs-2-cross-boundary-ferry-piers-optimise-capacity-lawmakers-urge?utm_source=rss_feed Thu, 28 May 2026 06:10:05 +0000 Ryan Ip,Jason Leung Yeuk-ho,Moon Kok Ryan Ip,Jason Leung Yeuk-ho,Moon Kok Hong Kong’s public housing conversation is often dominated by a single anxious question: how long do you have to wait for a home? Today, the answer is starting to change. The average waiting time for a general applicant for subsidised public rental housing has fallen to 4.7 years, a shift that feels small on paper but enormous for the families living it. The real transformation runs deeper than that headline figure. We have moved from a system that was playing catch-up to one that is steadily... https://www.scmp.com/opinion/hong-kong-opinion/article/3354175/hong-kongs-golden-window-renew-ageing-housing-estates-now?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3354175/hong-kongs-golden-window-renew-ageing-housing-estates-now?utm_source=rss_feed Thu, 28 May 2026 01:30:06 +0000 Jeffie Lam Jeffie Lam Hong Kong is an excellent option for Central Asian companies considering secondary listings to raise funds for expansion due to its deep liquidity, as the city eyes rapidly growing markets in the region, Hong Kong Exchanges and Clearing (HKEX) CEO Bonnie Chan Yiting has said. Chan, who will join a high-level delegation led by Chief Executive John Lee Ka-chiu to Kazakhstan and Uzbekistan in early June, also said the city’s bourse was “definitely” eyeing closer collaboration with its counterparts... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355077/hong-kong-eyes-central-asian-listings-hkex-ceo-pitches-citys-deep-liquidity?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355077/hong-kong-eyes-central-asian-listings-hkex-ceo-pitches-citys-deep-liquidity?utm_source=rss_feed Thu, 28 May 2026 00:30:05 +0000 Jess Ma Jess Ma Hong Kong will introduce a two-month LPG subsidy of 50 HK cents (6 US cents) per litre starting on Sunday to help transport operators running more than 20,000 vehicles, from taxis to minibuses and school buses, cope with soaring fuel prices linked to the Middle East war. A government spokesman announced on Wednesday that the subsidy would be implemented across all 66 filling stations supplying liquefied petroleum gas, or LPG, from Sunday, with no registration needed for eligible vehicles. “The... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355031/hong-kong-roll-out-2-month-subsidy-lpg-ease-burden-transport-firms?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355031/hong-kong-roll-out-2-month-subsidy-lpg-ease-burden-transport-firms?utm_source=rss_feed Wed, 27 May 2026 09:08:31 +0000 Vivian Au Vivian Au Veteran industrialist Sunny Chai Ngai-chiu has been appointed as chairman of a government-owned company tasked with developing Hong Kong’s San Tin Technopole – a key pillar of the Northern Metropolis megaproject. Authorities said on Wednesday that the San Tin Technopole Company would be created in the first half of 2026, with Chai starting his three-year term as board chair on July 1. His tenure as chairman of the Hong Kong Science and Technology Parks Corporation will end on June 30, with... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355015/top-industrialist-sunny-chai-picked-head-firm-developing-san-tin-technopole?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3355015/top-industrialist-sunny-chai-picked-head-firm-developing-san-tin-technopole?utm_source=rss_feed Wed, 27 May 2026 07:48:03 +0000 Theodora Yu Theodora Yu Hong Kong lawmakers have called for more clarity on an HK$9.96 billion (US$1.27 billion) project, which includes a fencing arena, in the Northern Metropolis, questioning the “immense” cost and whether the sports venue will host global tournaments. Permanent Secretary for Development Doris Ho Pui-ling defended the massive price tag on Wednesday, saying the government had sought to keep construction costs down and invited tenderers to propose further money-saving measures. She added that more... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354992/local-or-global-lawmakers-seek-clarity-costly-northern-metropolis-fencing-arena?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354992/local-or-global-lawmakers-seek-clarity-costly-northern-metropolis-fencing-arena?utm_source=rss_feed Wed, 27 May 2026 05:53:12 +0000 Marianna Lemus Boskovitch Marianna Lemus Boskovitch Hong Kong’s M+ museum recently signed a memorandum of understanding (MOU) with the Centre Pompidou in France, cementing a multi-year partnership that will cover collection, research and talent exchanges. This follows the 12 MOUs signed by the West Kowloon Cultural District Authority during this year’s International Cultural Summit – bringing its total international partnerships to 46. With billions of dollars being poured into mega-events, arts hubs and wider cultural initiatives, we are... https://www.scmp.com/opinion/hong-kong-opinion/article/3354642/beyond-visitor-numbers-hong-kong-must-track-full-worth-its-art-and-culture?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3354642/beyond-visitor-numbers-hong-kong-must-track-full-worth-its-art-and-culture?utm_source=rss_feed Wed, 27 May 2026 01:30:05 +0000 Lam Ka-sing Lam Ka-sing Lai Ka-ying’s selection as Hong Kong’s first astronaut has sparked a more than threefold surge in aerospace and satellite-design course inquiries at a learning centre, while industry leaders have called for sites to be refitted as immersive education facilities. Lai, a police superintendent who has also become China’s first female payload specialist, made her historic journey into space on Sunday with the launch of the Shenzhou-23 mission. Jeffrey Ho, CEO of Star Club Scientist Education, said... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354947/how-hong-kongs-first-astronaut-triggered-space-education-race?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354947/how-hong-kongs-first-astronaut-triggered-space-education-race?utm_source=rss_feed Wed, 27 May 2026 00:30:13 +0000 Leopold Chen Leopold Chen A Hong Kong medical technology firm manufacturing tailor-made body implants will expand research initiatives and explore setting up a factory in Central Asia, in a further collaboration which one expert said could also benefit the city. Koln 3D, Hong Kong’s first orthopaedic and metal component printing technology company, revealed its plan ahead of Chief Executive John Lee Ka-chiu’s coming visit to the region early next month. “For me, Central Asian countries are like Saudi Arabia 20 to 30... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354918/hong-kong-firm-makes-medical-implants-expand-central-asia?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354918/hong-kong-firm-makes-medical-implants-expand-central-asia?utm_source=rss_feed Tue, 26 May 2026 23:30:04 +0000 Jeffie Lam Jeffie Lam Telecoms giant China Mobile International is planning another route to connect terrestrial cables in Central Asia with Hong Kong’s submarine network, aiming to enable more efficient data transmission between the “stan” countries and the rest of the world, a senior executive has said. Kevin Chan Kin-fan, the company’s head of carrier business, said the developing telecommunications sector in Central Asia presented significant opportunities. He added that his company was ready to support mainland... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354807/china-mobile-plans-fresh-central-asia-link-hong-kong-submarine-cable-network?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354807/china-mobile-plans-fresh-central-asia-link-hong-kong-submarine-cable-network?utm_source=rss_feed Tue, 26 May 2026 02:00:14 +0000 Ambrose Li,Oscar Liu Ambrose Li,Oscar Liu Inside a massive retail and office complex called 11 Skies next to Hong Kong International Airport, all 800 shops sit vacant and only two of 120 food outlets were open earlier this month. They were supposed to begin operating in the 3.8 million sq ft development – equivalent in size to about 53 football pitches – by last year. A recent South China Morning Post visit to 11 Skies found it largely empty, with areas cordoned off and store spaces boarded up with hoardings featuring adverts for the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354808/can-hong-kong-airports-terminal-2-take-11-skies-rivals-pose-challenges?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354808/can-hong-kong-airports-terminal-2-take-11-skies-rivals-pose-challenges?utm_source=rss_feed Tue, 26 May 2026 00:30:05 +0000 Matthew Cheng Matthew Cheng Hong Kong private equity firm Templewater is eyeing investment opportunities in Central Asia’s real estate, energy transition and healthcare sectors, while positioning itself as a “superconnector” to channel capital from the Middle East into the emerging market. Cliff Zhang Kun, chairman of Templewater, also stressed the need for businesses to diversify their investments and shift from traditional Western markets towards emerging economies amid geopolitical volatility. Zhang, who will join a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354796/private-equity-firm-templewater-primed-hong-kong-moves-deepen-central-asia-ties?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354796/private-equity-firm-templewater-primed-hong-kong-moves-deepen-central-asia-ties?utm_source=rss_feed Mon, 25 May 2026 23:00:07 +0000 Dennis Lee Dennis Lee Slowly but surely, Hong Kong is undergoing various scales of transformation. From the mixed-use development around Kai Tak to the revamped waterfronts on both sides of Victoria Harbour, the new railway extensions to the vehicular bypass tunnels below our busy streets, the adaptive reuse of underutilised spaces and the infusion of art and culture into local neighbourhoods, our city is evolving and adapting. Consider the East Coast Boardwalk as an example. The space under the Island Eastern... https://www.scmp.com/opinion/hong-kong-opinion/article/3353875/can-northern-metropolis-balance-progress-quality-life?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3353875/can-northern-metropolis-balance-progress-quality-life?utm_source=rss_feed Mon, 25 May 2026 21:30:04 +0000 Jess Ma,Lam Ka-sing Jess Ma,Lam Ka-sing Hong Kong should harness the excitement sparked by the city’s first astronaut to set up a dedicated office to foster local aerospace technology and development, experts and a top government adviser have said. Professor Zhang Peng, programme leader for aerospace engineering at City University, urged the government to expand funding for programmes, create dedicated internships and establish a local aerospace technology hub to build on the momentum from Sunday’s historic flight involving home-grown... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354797/hong-kong-needs-aerospace-office-build-momentum-first-astronaut-experts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354797/hong-kong-needs-aerospace-office-build-momentum-first-astronaut-experts?utm_source=rss_feed Mon, 25 May 2026 14:16:57 +0000 Eric Jiang Eric Jiang In a bustling Hong Kong commercial district, some internet cafes are shifting beyond serving as gaming hubs for young people looking to spend a few hours hunched over a computer playing video games. Inside one such venue in Mong Kok, gamers can rent one of two private booths for about HK$200 (US$25.50) a night. With a look that can only be described as “emergency bunker”, the metal-walled rooms come equipped with a high-end gaming desktop, a sofa bed, budget-friendly food, and self-service... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354777/game-over-shake-proposed-hong-kong-internet-cafes-offering-overnight-stays?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3354777/game-over-shake-proposed-hong-kong-internet-cafes-offering-overnight-stays?utm_source=rss_feed Mon, 25 May 2026 11:00:40 +0000