Tag Archives: Hong Kong

Hong Kong’s homebuyers defied a No 3 typhoon signal to snap up apartments during two property sales on Friday, entering the market after commercial banks lowered their prime lending rates a day earlier following the first rate cut by the local monetary authority. New World Development and CK Asset Holdings, two of the largest property developers in the city, sold …

More than 70 per cent of Hongkongers fear running out of savings when they retire, while 50 per cent say they do not have a clear retirement plan, according to a recent McKinsey survey in the city, where 22 per cent of residents are over 65. The survey found only 16 per cent of those aged from 55 to 65 …

India and the United States are exploring ways to tap Myanmar’s rare earth reserves, with New Delhi reportedly in talks with a powerful rebel group and Washington considering working with either opposing side of the country’s civil war, as they seek to diversify their sources for the crucial minerals. But analysts say their plans face formidable challenges, including risks from …

The development of fintech and the strong desire of mainland Chinese companies to go global are conducive to Chinese and international banks setting set up operations in Hong Kong, according to the head of the city’s de facto central bank. “While many international and mainland banks already use Hong Kong as a base to develop their regional business, we believe …

Hong Kong authorities will strengthen protection for local workers by tightening restrictions on employers importing waiters and junior cooks, while enacting legislation to better protect delivery workers. Chief Executive John Lee Ka-chiu announced in his policy address on Wednesday that the government would prioritise the employment of local workers and crack down on abuse of a labour importation scheme. The …

Hong Kong authorities are set to reshape how they deliver public services, rolling out a sweeping plan to embed AI in at least 200 administrative procedures by the end of 2027 in a bid to boost efficiency and create a more responsive, tech-driven bureaucracy. The timeline, listed in Chief Executive John Lee Ka-chiu’s policy address on Wednesday, will result in …

Hong Kong’s leader has promised to assist local media organisations to expand their networks beyond the city, while pledging not to interfere in their operations. Chief Executive John Lee Ka-chiu on Wednesday made a rare move of mentioning assistance for the media in his policy address, and also later acknowledged the challenges facing the sector. “The government will assist the …

Cathay Cargo has extended its services to include sending overseas perishable food and produce flown into Hong Kong to Greater Bay Area (GBA) clients by land, with an analyst saying the first-of-its-kind operation will fend off competition amid worsening geopolitics. The cargo arm of local flag carrier Cathay Pacific Airways said it was the first airline to provide such services …

The operator of a top international school in Hong Kong has revealed it plans to negotiate soon with the institution’s US co-founder to seek an out-of-court settlement in response to a lawsuit over allegations it breached an operating agreement by only serving the rich. The senior management of Hong Kong International School (HKIS) told the Post about the plan on …

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Hong Kong readers now get 50% off their first year of subscription until September 21, 2025. The Hong Kong Observatory has said it could issue a No 1 typhoon signal between Wednesday night and Thursday morning due to an …