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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.
(From left) Hong Kong leader John Lee with Hopewell Holdings chairman Gordon Wu and Asia Society Hong Kong chairman Ronnie Chan Chi-chung at the Hopewell Hotel in Wan Chai on Thursday. Photo: Nora Tam
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

Hong Kong

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

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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.

Parents attend an education expo in May this year. Photo: Dickson Lee
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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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.

City view of Hong Kong in 2025. Photo: Xinhua
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.

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.

Xu Li, chairman and CEO of SenseTime, left, and Terry Wong, CEO of Hong Kong Science and Technology Parks, attend the signing ceremony for the proposed AI data centre. Photo: Sun Yeung
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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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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Hong Kong politics

Opinion | Hong Kong’s five-year plan must boost governance to ensure results

The challenge is not simply identifying problems. It is mustering the political will and building the capacity to overcome them.

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Chief Executive John Lee Ka-chiu arrives to meet the press at the government headquarters in Admiralty on February 10. Photo: Elson Li
Hong Kong

Hong Kong tightens imported worker scheme but open to making it permanent

Two-tier vetting system for employers comes into effect on Tuesday, with tougher rules for catering industry.

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A dim sum restaurant in Admiralty. The government has predicted that by 2028, the catering sector will be short of 1,000 to 4,000 workers. Photo: Karma Lo
John Lee

Exclusive: The John Lee interview

Hong Kong’s chief executive reflects on four years in office and looks ahead at the city’s future, touching on economic reforms, boosting birth rates and the Northern Metropolis.

Hong Kong

Hong Kong aims to publish first 5-year plan in third quarter

Government’s 32-page document lists Northern Metropolis megaproject as first of six core sections.

Hong Kong media

Publisher's Pen | Hong Kong’s media must go global amid tech disruption, economic uncertainty

Deals signed during city leader’s Central Asian trip have opened new doors for industry, but it’s up to companies to boldly step through them.

Chief Executive John Lee (left) pauses for a selfie with Astana International Financial Centre Governor Renat Bekturov at the AIFC headquarters in Astana, Kazakhstan, on June 1. Photo: Handout
John Lee

Exclusive | Baby bonus to continue? We’ll consult widely, John Lee says

City leader says government to consult public and ‘collect wisdom’ before deciding whether incentive measures should carry on.

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The number of registered births in Hong Kong hit a historic low of 31,100 in 2025, despite a range of government initiatives aimed at boosting the city’s fertility rate. Photo: Jelly Tse
Hong Kong

Editorial | John Lee has already achieved a lot for Hong Kong, but more needs to be done

The chief executive has laid out his priorities for the coming year as the city moves to the next critical stage of development.

Central Asia

HKEX, Kazakhstan’s AIFC explore dual listings with miners after landmark debut

Head of Astana’s special financial zone says deals signed with Hong Kong during John Lee’s visit mark ‘important milestone’ for cooperation.

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