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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.
Hong Kong’s Kwai Chung Container Terminal, seen on March 4. Hong Kong’s Asean opportunity depends less on moving more containers than on attaching more high-value services to each transaction. Photo: Elson Li
Asean

Opinion | How Hong Kong can unlock the real value of its Asean trade boom

By providing high-value services that enable cross-border transactions and corporate expansion, the city can convert surging commerce into long-term economic returns.

HKEX

Exclusive | HKEX to launch debate over extending trading hours despite pushback, sources say

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Hong Kong society

As I see it | Hong Kong is no longer a Western playground – and it’s not looking back

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Hong Kong

Hong Kong’s 5-year plan: what’s at stake?

With Hong Kong’s leader expected to unveil the city’s first five-year plan in September following a two-month public consultation, the South China Morning Post examines how the financial hub can deliver on its game-changing ambitions and what is at stake.

Illustration: Davies Christian Surya
Hong Kong

In Focus | Why does Hong Kong need a 5-year plan – and will it curb its free-market economy?

As Hong Kong embraces long-term planning for the first time, economists and officials debate whether strategic state guidance can coexist with its open, market-led economy.

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Hong Kong property

Hong Kong property recovery faces new risk as Beijing widens offshore tax net

Potential taxation of offshore property income could curb mainland demand, while weaker insurance activity hits decentralised office markets.

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Wealth management

Rich Hongkongers rank travel over real estate in shifting life goals: survey

Immersive travel and early retirement rank above real estate on the priority list of wealthy individuals, according to a new report.

Passengers pose for pictures at Hong Kong International Airport in Chek Lap Kok on May 27. Photo: SCMP/Sam Tsang
Malaysia

New Hong Kong trade office in Malaysia a bridge to Greater Bay Area: minister

Commerce chief Algernon Yau calls launch of Economic and Trade Office in Kuala Lumpur ‘highly strategic move’.

Hong Kong property

Wharf firms up balance sheet as Hong Kong sales cushion profit slump

‘Our first choice is investment in Hong Kong’s property sector’, while mainland China lacks ‘good opportunities’, chairman says.

Macau

SCMP signs 3 MOUs in Malaysia to deepen Hong Kong-Asean regional cooperation

South China Morning Post among delegation signing agreements in Kuala Lumpur to unite policy research, journalism and business networks across Asia.

Secretary for Commerce and Economic Development Algernon Yau (third from right), Director of Information Services John Tse (second from right) and SCMP publisher Tammy Tam (right) join Malaysian dignitaries at the MOU signing ceremony in Kuala Lumpur. Photo: Handout
Frederick Ma Si-hang

Hong Kong, Malaysia set for ‘deeper ties in semiconductor making, other sectors’

Trade Development Council chairman Frederick Ma makes comment as he joins Hong Kong’s biggest delegation to Malaysia to date for conference.

TDC’s Frederick Ma and Sophia Chong pose for a photo as the “Think Business, Think Hong Kong” flagship campaign gets under way in Kuala Lumpur, Malaysia. Photo: Vivian Au
Hong Kong property

The View | Hong Kong hotel sector recovery elusive for unprepared investors

An uneven rebound is favouring established operators as tight supply constraints raise the barriers to entry.

Hong Kong society

72% of Hong Kong professionals regularly use AI, double global average: survey

But HKUST study also finds that junior employees harbour deeper anxiety over job security amid AI’s growing adoption.

Banking & finance

In Focus | Beijing hits super-rich with 20% offshore tax. What does it mean for Hong Kong?

For decades, Hong Kong has prospered by managing the wealth of Asia’s elite. Will that change as China introduces tougher offshore tax policies?

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Illustration: Dennis Yip
Hong Kong politics

Opinion | John Lee is right about local governance. Now he must deliver

Fixing Hong Kong’s district management in the wake of the devastating Tai Po fire is the next test for the chief executive.

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Chief Executive John Lee addresses the participants of a town hall meeting on August 2 to gather feedback on Hong Kong’s first five-year plan and the coming policy address. Photo: SCMP Pictures
Hong Kong society

Youth membership in Hong Kong uniformed groups drops 8% over 5 years

Low birth rates contribute to decline despite steady government funding, prompting some lawmakers to call for KPIs to ensure prudent spending.

China property

Derelict cinema on scenic Hong Kong island has a US$1 million price tag

Peng Chau Cinema was once a bustling nightspot but has lain virtually empty for almost four decades and is now set to go under the hammer.

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Hong Kong society

How are Hong Kong restaurants faring 1 month into the dog-friendly scheme?

Scheme has stoked controversy online but situation on the ground is not as bad, one industry expert says.

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Kelvin Chan, owner of Wan Land Mori, a pet-friendly restaurant in Kowloon City. Photo: Dickson Lee
Paul Chan

Mega-events drive HK$5.8 billion spending in first half of year, Paul Chan says

Finance chief says more than 1.75 million people attended over 130 events from January to June, calling Hong Kong ‘an event capital’ rich in culture, arts and sports.

Hong Kong politics

5-year plan to create more jobs, help young people with housing: John Lee

City leader says government is paying close attention to youth employment, while Northern Metropolis presents opportunity for bigger homes.

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Hong Kong society

Opinion | Hong Kong’s 5-year plan can’t just be a laundry list

Repackaging familiar initiatives is not enough – city leaders must deliver clear directions, tangible targets and real accountability.

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llustration: Huy Truong
Hong Kong sports

Editorial | A stacked sporting calendar gives Hong Kong the winning edge

From high-profile football to world fencing action, major events are serving up real social and economic rewards.

Chelsea fans pose for photos outside Kai Tak Stadium before the second of the Hong Kong Football Festival match, of Chelsea vs Juventus, on August 5. Photo: Elson Li
Foreign domestic workers in Hong Kong

Hong Kong employer groups call for helper wage freeze, warn of mass sackings

‘Many employers are themselves out of work or facing pay cuts or pay freezes,’ group representative says.

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Mainland China

Hong Kong commerce chief to lead joint local and mainland delegation to Malaysia

Algernon Yau says about 200 mainland enterprises have already set up offices in the city since last year to expand globally.

Education in Hong Kong

CUHK chief urges more funds for campuses in Northern Metropolis university town

Dennis Lo says the government’s HK$10 billion loan scheme is inadequate and local universities must expand to meet future challenges and compete globally.

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CUHK president Dennis Lo says Hong Kong must provide more support for universities to build campuses in the Northern Metropolis university town. Photo: Elson Li
Banking & finance

Don’t panic: China says 20% offshore insurance tax does not target Hong Kong

Beijing urged the market not to overreact to the policy – which it stressed was not new – after reports of the tax triggered a sell-off in Hong Kong.

The share prices of major financial firms in Hong Kong dipped on Thursday, after reports of that Chinese authorities had started levying a 20 per cent tax on gains from offshore insurance policies. Photo: SCMP/Sam Tsang
Hong Kong property

Hang Lung Properties names former Starbucks China head Leo Tsoi as new CEO

Tsoi’s appointment marks Hang Lung’s first CEO change since Adriel Chan took over from his father Ronnie Chan as chairman in 2024.

Hong Kong tourism

Hong Kong tourism sector urges action with visitor spending 44% below 2018 level

Lawmaker Perry Yiu calls for more events and cross-border cooperation as visitor spending falls from HK$353b in 2018 to HK$197.5b last year.

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