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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.
US Ambassador Kevin Cabrera visited the US Coast Guard cutter Alert during its port call in Panama City, highlighting the enduring maritime partnership between the United States and Panama. Photo: Handout
US-China relations

US highlights Panama security ties as China-linked canal ports deal stalls

US envoy’s coastguard visit near Panama comes as Beijing presses for Cosco control and Washington pushes back.

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Russia

Hong Kong Palace Museum says Egyptian exhibition will be most profitable show yet

Hong Kong aviation

Hong Kong to become Asia’s leading aircraft recycling hub, John Lee vows

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Hong Kong property

Hong Kong logistics group’s CEO buys US$17 million luxury home

An entity linked to Arnold Lee, CEO of Hecny Group, buys a 2,772 sq ft flat at The Legacy in Mid-Levels West.

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The Legacy residential project in Mid-Levels West has been jointly developed by Henderson Land Development and New World Development. Photo: Google
Hong Kong healthcare and hospitals

Hong Kong unveils its first blueprint to develop Chinese medicine sector

Health minister says plan underpins city’s contribution to national strategy of bringing healing powers of Chinese medicine to the world.

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Hong Kong transport

Over 700 mainland Chinese drivers apply to enter Hong Kong under travel scheme

Authorities say number of applications in line with expectations, stressing scheme not expected to worsen traffic conditions.

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Greater Bay Area

Letters | As Greater Bay Area shifts to carbon-free trade, Hong Kong must catch on

Readers discuss a key role for the city gleaned from China’s central economic work conference, promotion of indoor sports, and the mass shooting at Australia’s Bondi Beach.

President Xi Jinping speaks at the annual central economic work conference in Beijing on December 11. Photo: Xinhua
Paul Chan

Hong Kong launches consultation for 2026 budget focusing on economic growth

Finance chief says he will engage with public and ‘draw on collective wisdom’ while making sure coming budget aligns with five-year plan.

Hong Kong politics

Editorial | Align with national goals, Xi urges Hong Kong with pat on back for Lee

President Xi has fully recognised the work done by Chief Executive John Lee over the year and urged the city to take further steps to play its part in the nation’s development.

Banking & finance

Hong Kong signs tax treaty with Norway, marking fourth such agreement this year

Treasury chief Christopher Hui said the government plans to begin CDTA negotiations with Slovenia and Oman early next year.

Hong Kong Secretary for Financial Services and the Treasury Christopher Hui (left), exchanges documents with Norway’s Ambassador to China, Vebjørn Dysvik, in Beijing on Tuesday. Photo: Handout
Food and Drinks

Need restaurant staff? Shift Happens is here to help

Since the pandemic, restaurants have had trouble finding staff – Roucou Cheese Omakase & Bar is among those that turned to Shift Happens.

Hong Kong’s hospitality sector faces staffing shortages, but start-up Shift Happens is offering a recruitment solution. Photo: Jelly Tse
Mainland China

Hong Kong jobless rate unchanged at 3.8% on back of ‘solid’ economic expansion

Improving consumer confidence, economic growth supporting overall market but some sectors may remain under pressure, labour chief says.

Hong Kong

31% of Hong Kong firms to boost hiring next quarter but AI threatens junior jobs

Artificial intelligence could take over junior roles in professional, scientific and technical services, which has net employment outlook of minus 15 per cent.

Airport Authority Hong Kong

Opinion | Hong Kong is stepping up its competitiveness in aviation

By funding upgrades to the airport and signing international aviation deals, the city is proactively working to expand its global reach.

A Cathay Pacific jet takes off from Hong Kong International Airport in Chek Lap Kok on November 28, 2024, the day the third runway was inaugurated. Photo: Dickson Lee
Kai Tak Sports Park

Hong Kong’s Kai Tak Stadium ranks world’s No 3 in ticket sales in debut year

Venue’s ranking, just nine months after debut, cements city’s status as Asia’s events capital, operator says.

Kai Tak Stadium hosted the AFC Asian Cup qualifiers match between Hong Kong and Bangladesh. Photo: Sam Tsang
Banking & finance

Hang Seng Bank shareholders to vote on HSBC buyout proposal on January 8

Hang Seng Bank’s independent financial adviser recommends that shareholders vote in favour of HSBC’s proposal to privatise the lender.

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Hong Kong’s Tai Po fire tragedy

Hong Kong businesses prepare for scaled-down Christmas celebrations after fire

Restaurants and retailers are gearing up for season in way that takes into account grief of residents after blaze, Lan Kwai Fong’s Allan Zeman says.

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China's economic recovery

Editorial | Hong Kong has a role to play in building a strong, unified national market

Innovative growth areas such as the Greater Bay Area can help lead China’s economic transformation in the coming year.

Workers assemble a flying vehicle at an expo on the low-altitude economy in Shenzhen, on September 23. Hong Kong needs to work closely with growth areas, particularly the rest of the Greater Bay Area, to help build a strong domestic market. Photo: AP
Hong Kong

Hong Kong aims to launch passenger-carrying drones in 2 to 3 years

Dominic Chow, deputy director general of civil aviation, outlines road map at Beijing conference, says costs will be much lower than helicopter services.

Paul Chan

Speed up innovation, create jobs key facets of next Hong Kong budget: Paul Chan

Finance chief says public consultation for next budget will start soon and he ‘looks forward’ to ideas from residents.

Mandatory Provident Fund (MPF)

Editorial | Hong Kong needs MPF to build on successful first 25 years

The city’s statutory pension scheme is on pace for record returns, but the rising cost of living means it cannot rest on its laurels.

People cross a road in Central during lunch hour on January 6. Photo: Jelly Tse
Hong Kong

Opinion | How Hong Kong can capitalise on Chinese creative destruction

The Greater Bay Area’s success shows that with the right environment, creative destruction can generate inclusive growth.

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An electric vertical takeoff and landing (eVTOL) aircraft, developed by Chinese drone maker EHang, carries out a demo flight at the urban air traffic operation demonstration centre in Bao’an district, Shenzhen, on April 16. Photo: Xinhua
Hong Kong

Hong Kong launches professional services platform for mainland Chinese companies

Platform to help match local providers with companies from over border seeking to expand overseas, Deputy Secretary for Justice Horace Cheung says.

Hong Kong

Hong Kong expo vendors expect 20% sales boost amid bigger crowds, good weather

Vendors at the Hong Kong Brands and Products Expo express optimism at the 24-day fair’s opening at Victoria Park in Causeway Bay.

Hong Kong property

Yau Tong project nearly sells out amid hopes of home market recovery in 2026

The flats at One Park Place were in high demand after developers Sino Land, CSI Properties and MTR offered discounts of up to 15 per cent.

A view of One Park Place in Yau Tong. Photo: Google maps
Hong Kong

McDonald’s Hong Kong named Company of the Year at SCMP Live’s Business Awards

The restaurant chain’s CEO Randy Lai and chairman Zhang Yichen received the award from SCMP’s CEO Catherine So at an event on Friday.

The winners of the 2025 SCMP Live Business Awards. (From left) Jerry Tam on behalf of Xpeng founder He Xiaopeng, Prudential Hong Kong CEO Lawrence Lam, McDonald’s Hong Kong chairman Zhang Yichen and CEO Randy Lai, Telefield Medical Imaging’s Yen Law, BioZein’s Anna Rayton and APT Electronics’ Winnie Chan during the awards ceremony on Friday. Photo: SCMP
Banking & finance

Editorial | Hong Kong must find new growth areas amid uncertain US monetary policy

Divisive US Federal Reserve interest rate cut underscores why the city should not look too much to American interest rate cuts to bolster the economy.

Hong Kong politics

Hong Kong to host Apec finance ministers’ meeting in October 2026

Central authorities also reveal dates for Apec economic leaders’ meeting in Shenzhen next year, while Macau set to hold tourism ministers’ event.

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