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Hong Kong economy

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Unionists say severe wage arrears are plaguing the construction sector and the situation may worsen at the end of the year. Photo: Xiaomei Chen
Hong Kong economy

Hong Kong economy

Help urged for construction workers reportedly facing axe at Hong Kong firm

Hip Seng Construction, which is working on several projects, is said to be struggling financially and will lay off employees.

Hong Kong economy

From gym closures to rotten tofu, Hong Kong consumers faced a year of scams

Banking & finance

Banks, insurers rush for gold in Hong Kong’s ‘silver-hair economy’

Society

Hong Kong economy

Hong Kong records net outflow of 592,740 trips over 6-day Christmas period

But catering sector reports an 8 per cent boost in business on Christmas Day compared with last year.

Travellers at the departure hall for the West Kowloon High Speed Rail Station. Photo: May Tse
Travellers at the departure hall for the West Kowloon High Speed Rail Station. Photo: May Tse

Hong Kong economy

Hong Kong economy

Hong Kong restaurants hit rocky road in 2024, but analysts optimistic

Analysts expect lower rents and increased consumption in 2025 driven by multi-entry visa scheme for Shenzhen residents.

Banking & Finance

Mandatory Provident Fund (MPF)

Hong Kong’s pension nest egg is on course for best return in 4 years

MPF Ratings says ‘members may be tempted to have a US bias in their portfolio, but diversification is important’.

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Business

ESG investing

Hong Kong’s Community Chest says donations slide amid cracks in economy

HSBC, Cigna are among companies pledging to raise their contributions to social welfare causes next year.

videocam
The Community Chest 55th Anniversary Walk for Millions at Hong Kong-Zhuhai-Macau Bridge in January 2024. Photo: Dickson Lee
The Community Chest 55th Anniversary Walk for Millions at Hong Kong-Zhuhai-Macau Bridge in January 2024. Photo: Dickson Lee

Business

Hong Kong property

Outlook for Hong Kong’s high-end homes to brighten in 2025

Luxury property prices to rise as much as 5 per cent next year, with rents also set to increase by the same level, Ricacorp’s Derek Chan says.

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Society

Hong Kong economy

Hongkongers make more than 2.2 million trips since Saturday

Some of those spending Christmas in the city stress they are only trying to avoid peak pricing.

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Hong Kong economy

Hong Kong economy

Hong Kong restaurants and bars enjoy business bump over Christmas

Businesses in Lan Kwai Fong roll out festive offerings as they observe some spending patterns are shifting towards ‘affordable deals’.

Businesses in Lan Kwai Fong have rolled out festive products to attract customers. Photo: Jonathan Wong

Banking & Finance

Banking & finance

Hong Kong employers seek more relationship managers and data analysts next year

Human resource professionals also say customer due diligence officers are in demand.

Hong Kong’s bustling Central district. Photo: Jelly Tse
Hong Kong’s bustling Central district. Photo: Jelly Tse

Hong Kong economy

Hong Kong tourism

Hong Kong logs 1 million arrivals, but half are residents heading home for Christmas

Arrival number is 300,000 more than last year, but about 50 per cent are residents returning to city.

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Hong Kong economy

Hong Kong economy

Christmas on the mainland? Hongkongers opt for festive fun across the border

Holidaymakers say Shenzhen’s open spaces and budget-friendly options drew them to city’s attractions.

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Hong Kong economy

Hong Kong economy

Hong Kong’s low-altitude economy plans to focus on smaller-drone services first

Authorities say initial phase of Low-altitude Economy Regulatory Sandbox will centre on emergency and rescue, inspection, delivery and surveillance.

A drone hovers over the harbour at Hong Kong’s Causeway Bay. Photo: Martin Chan

Hong Kong economy

Hong Kong economy

Hong Kong malls report up to 50% more footfall over festive season so far

Bump of 15 per cent in sales projected at some shopping centres, aided by revived multiple-entry visa scheme for Shenzhen residents.

Visitors outside a shopping centre in Tsim Sha Tsui on Christmas Eve. Photo: Sun Yeung
Visitors outside a shopping centre in Tsim Sha Tsui on Christmas Eve. Photo: Sun Yeung

Companies

Hong Kong property

Shimao slashes Hong Kong hotel price by 25% to speed up restructuring

Mainland Chinese developer is asking HK$4.5 billion (US$579 million) for the asset, down from HK$6 billion in March 2023, according to a source.

Hong Kong economy

Hong Kong economy

Hong Kong restaurants expect Christmas boom thanks to Shenzhen visa change

A 10 per cent year-on-year bump in business is expected over the holiday as many restaurants are fully booked.

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Hong Kong economy

Hong Kong economy

Hong Kong gears up for Christmas as 1.1 million residents head out of city

Between Saturday and Monday at 4pm, 2.07 million people left Hong Kong while 1.26 million entered the city, a net outflow of around 800,000.

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Tourism Board’s WinterFest event at West Kowloon Cultural District. Photo: Dickson Lee
Tourism Board’s WinterFest event at West Kowloon Cultural District. Photo: Dickson Lee

Hong Kong economy

Hong Kong society

Nearly 400,000 Hongkongers leave city on December 22, up 15% from last year

Travel industry developing packages to new mainland Chinese destinations ahead of direct high-speed rail access in early January.

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Hong Kong economy

Hong Kong culture

Beijing-Paris ties on display in Hong Kong show of silk, porcelain and diplomacy

Versailles and Forbidden City joint exhibition a sign of past exchanges and possible future strengthening of ties, experts say.

Hong Kong economy

Hong Kong economy

Long-haul flights to cost Hongkongers more this Christmas, travel firms say

Economy-class fares to cities such as London, New York, Sydney and Vancouver will cost more compared with last year, travel agents say.

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A Cathay Pacific spokesman says its fares on short-haul routes are back to normal levels while those for most of its long-haul routes are down by more than 20 per cent year on year. Photo: Dickson Lee
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