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Hong Kong economy

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Hong Kong economy
Breaking news and analysis on Hong Kong's economy and the companies that operate in the city, including its GDP, economic outlook, impact of the coronavirus outbreak, macroeconomic indicators, the local government finance and budget, retail sales, consumption, employment and monetary policy.
Shangri-La Group CEO Kuok Hui Kwong (left) and gold medal Olympian Eileen Gu (right) take part in the “Dragonbeat” event. Photo: Jonathan Wong
Shangri-La Asia

Shangri-La’s Kuok Hui Kwong tells tourism trade to tap ‘cultural foundation’

Hotel group CEO calls Hong Kong ‘a vibrant international city that has really preserved a lot of its traditional culture’.

Hong Kong society

Easy money or risky business? What can Hong Kong do as prediction markets boom?

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Poverty

Editorial | New poverty measure in Hong Kong won’t change duty to those in need

Hong Kong

Editorial | A bigger pie for pet-friendly restaurants would be nice

If the roll-out goes well, a swift expansion of the dog-friendly licence scheme would be welcome.

A pet owner walks past a restaurant in Kai Tak on February 3. Photo: Jelly Tse
Hong Kong

Will hosting Hyrox World Championships add muscle to Hong Kong’s tourism trade?

By hosting next year’s event, city could lure thousands of athletes who spend more and stay longer than average tourist, experts say.

Education in Hong Kong

University town framework unlikely to be unveiled before five-year plan released

Government previously planned to publish Northern Metropolis University Town Development Conceptual Framework in the first half of year.

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Retailing

Opinion | Invest in Hong Kong’s creativity and local brands to unlock soft power

Hong Kong is blessed with ambitious, creative local brands. Investing in them will help set the city apart from other shopping destinations.

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Customers leave a Bakehouse shop in Causeway Bay with their purchases on July 26, 2025. Photo: Antony Dickson
Hong Kong politics

Opinion | 10 steps Hong Kong can take to make the most of its 5-year plan

Whether it’s fintech, gold trading or investment migration, Hong Kong has a role in supporting the nation’s 15th five-year plan.

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Hong Kong

Tycoon Gordon Wu says he’s very optimistic about China due to its ‘stability’

‘I am very optimistic about the future of China. Why? Because these are the people who really work hard,’ Wu says after receiving Asia Society award.

Hong Kong property

Star turn for Hong Kong luxury housing as Richie Jen buys US$8.8 million flat

Market watchers say improving liquidity and strong mainland demand are helping revive transactions in Hong Kong’s luxury housing segment.

Hitting a high note. Mandopop star Richie Jen has bought a US$8.8 million luxury apartment in Repulse Bay as confidence returns to Hong Kong's high-end residential sector. Photo: Handout
Hong Kong

Towngas customers face higher bills as tariffs set to rise 4.4% in August

Towngas attributes increase to rising operating expenses over the past two years.

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Towngas is Hong Kong’s largest piped-gas provider. Photo: Edmond So
Education in Hong Kong

93% of mainland Chinese top talent move to Hong Kong for children’s education

Beacon Group survey also shows 80 per cent of respondents chose to move at time when their children are in upper secondary school.

Eric Chan Kwok-ki

Hong Kong changes how it defines poverty but experts express doubt about move

Government adopts new 21-indicator framework in efforts to help needy and raises concept of ‘social transfer values’ for first time.

International Institute for Management Development

Hong Kong ranks No 2 in global competitiveness with best showing in 7 years

City trails first-place Singapore out of 70 economies surveyed by Switzerland-based International Institute for Management Development.

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Hong Kong has ranked as the world’s second-most globally competitive economy. Photo: Karma Lo
China's economic recovery

Mainland China climbs 4 spots in global competitiveness ranking

China ranked 12th on the list, despite a decline in economic performance, weak domestic demand and concern over foreign market access.

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China’s capital Beijing’s city skyline pictured at sunset. China has climbed four places, from 16th to 12th, in this year’s IMD World Competitiveness Ranking. Photo: Xinhua
Hong Kong environmental issues

Green group urges Hong Kong to cut excessive e-commerce packaging waste

The Green Earth urges Hong Kong to align with mainland Chinese packaging limits after study estimates city generated 2.7 million kg of waste.

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Macau

Hong Kong, Macau not rivals for tourist trade, industry leaders say

Two cities offer distinct experiences and can benefit from sharing visitor flows, Macau Government Tourism Office chief says.

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Trade Development Council (HK)

Editorial | Trade promotion body’s role evolving with Hong Kong’s economy

As the Trade Development Council marks its 60th anniversary, its remit now reflects closer ties with the mainland and changes in the global economy.

Frederick Ma, chairman of Hong Kong Trade Development Council, gives a speech at a reception marking the council’s 60th anniversary on June 16. Photo: Sun Yeung

The future of Hong Kong

In this series, SCMP editor-in-chief Chow Chung-yan lays out his vision of what’s next for Hong Kong, from examining the impact of mainland China’s Pinglu Canal to highlighting the industries the city is best placed to succeed in.

Hong Kong

Opinion | Can Hong Kong make a giant leap to commercial space insurance?

The explosive growth of China’s commercial space business, combined with geopolitical realities, gives the city a captive market.

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Banking & finance

Editorial | As global wealth moves towards Asia, Hong Kong is stepping up

Tax incentives to lure corporations and wealthy individuals will help the city make a valuable contribution to national development.

The reflection of buildings in Tsim Sha Tsui and Hong Kong’s skyline is seen in Central on June 8. Photo: Karma Lo
Kazakhstan

Hong Kong must remain outward-looking to thrive: past and present TDC leaders

Former and current Trade Development Council leaders stress importance of free flow of goods, people and capital.

Peter Woo, left, Victor Fung, Jack So, Vincent Lo and Hong Kong Trade Development Council chairman Frederick Ma Si-hang at the organisation's 60th Anniversary Forum in Wan Chai. Photo: Sun Yeung
Hong Kong science and tech

Hong Kong Science Park, SenseTime partner to build home-grown AI data centre

Project to be built in three stages, targeting 40,000 petaflops of computing power by 2030 to drive sector’s industrialisation.

Hong Kong

Top legislative body to discuss Hong Kong’s shared control at upgraded crossing

China’s top legislative body will discuss Hong Kong’s shared control over Huanggang crossing as 24-hour fast-track checkpoint set to open in July.

Hong Kong politics

Xia ‘fully recognises’ Hong Kong I&T efforts, urges city to seize opportunities

Beijing official visits Northern Metropolis sites, including Yuen Long microelectronics centre and Hetao hub.

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Xia Baolong (second right), with John Lee (right) and other officials, greets residents at a light public housing project in Yuen Long. Photo: Handout
Mainland China

Hong Kong shoppers chase bargains despite Sam’s Club food safety probe

Cross-border consumers say low prices still outweigh concerns after state regulator announced it had summoned company representatives.

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The State Administration for Market Regulation has summoned representatives of Sam’s Club for “frequent food safety issues”. Photo: Sam Tsang
Northern Metropolis

Editorial | 5-year-plan will help Hong Kong hone its strengths to serve the nation

The recently launched public consultation on the blueprint is critical as it enables the community to come together and plan for the future.

Hong Kong transport

Where will ride-hailing data go? Hong Kong eyes national security compliance

Transport minister Mable Chan says emphasis under coming regulatory framework must be on protecting data safety and national security.

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