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Hong Kong economy

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.
Shoppers in Tokyo. The new arrangement is aimed at curbing illicit domestic reselling and tax evasion. Photo: Reuters
Travellers are now required to complete customs verification before checking in their luggage at airports. Photo: Kyodo News
Hong Kong

‘Less than a minute’: Hong Kong travellers praise Japan’s new tax refund at airports

Visitors now pay 10 per cent consumption tax either at self-service airport kiosks or via Visit Japan Web instead of upfront at cash register.

Hong Kong courts

Exclusive | High Court redevelopment plan ‘not workable’, Hong Kong Bar Association warns

Wealth management

In Focus | Could New York’s tax-the-rich agenda send its wealthiest residents to Hong Kong?

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Hong Kong

3 Hong Kong Chinese-language newspapers raise retail prices by HK$3

Ming Pao, Hong Kong Economic Times and Hong Kong Economic Journal adjust prices by 20 to 25 per cent.

Ming Pao, the Hong Kong Economic Times, and Hong Kong Economic Journal have increased their retail prices by HK$3 this month. Photo: Warton Li
Newspapers are displayed at a newsstand in Tai Kok Tsui. Photo: Karma Lo
Newspapers are displayed at a newsstand in Prince Edward. Photo: Karma Lo
Hong Kong

Opinion | Hong Kong’s art trading hub ambition rests on more than headline sales

The challenge is to develop lasting capabilities in the art trade, from local expertise to businesses, and to measure their development.

Hong Kong

Pump pressure: how rising fuel costs leave Hong Kong drivers running on fumes

Amid global energy crisis triggered by Middle East war, city’s drivers say they are cutting back on food and utility expenses.

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China Unicom

HKT says US order ‘ceased’ as firm reportedly agrees to exit American market

US regulator had moved to revoke firm’s authority to operate, citing national security concerns.

HKT International is a subsidiary of Hong Kong-based PCCW, which was founded by tycoon Richard Li Tzar-kai. Photo: Jelly Tse
A HKT outlet in Tsim Sha Tsui. Photo: Jelly Tse
Hong Kong

Wine and Dine Festival vendors report Halloween boost in sales and footfall

Exhibitors say festival’s first two days have drawn bigger crowds as revellers seek out alternatives to nightlife hotspot Lan Kwai Fong.

Paul Chan

Hong Kong may raise GDP forecast as growth could hit 5-year high: Paul Chan

Finance chief says full-year forecast of 3.5 to 4.5 per cent growth may be revised upwards following strong export momentum.

China consumption

Shenzhen too pricey? Cost-conscious Hongkongers dig deeper into mainland China

As Hong Kong residents explore a wider range of mainland cities, businesses in Guangzhou, Zhongshan and Jiangmen are reaping rewards.

Customers dine at a restaurant in Shenzhen. Photo: Dickson Lee
France

Exclusive | Bordeaux officials hail exclusive 5-year deal for Hong Kong to host Vinexpo

Deputy mayor Fabien Robert says Hong Kong and Bordeaux ‘have a long story in the past and we have a long future’.

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Fabien Robert and Laure Compeyrot. Photo: Sun Yeung
Hong Kong Tourism Board

Hong Kong to be exclusive Vinexpo Asia host from 2027 to 2031

Tourism board chair says milestone agreement will strengthen city’s position as leading wine, spirits and culinary destination.

Mainland China

From ‘national team’ purchases to Yulan bonds: 5 figures investors are watching

State-backed Chinese investors stepped up buying after CSI 300 Index fell into bear market territory and Star Market 50 Index plunged further.

Hong Kong property

Hong Kong banks face growing pile of repossessed homes as sales slow

Stock of mortgagee properties priced between HK$10 million and HK$20 million more than doubled in third quarter.

Blocks of flats in Mid-Levels. Photo: May Tse
Greater Bay Area

Letters | 5-year plan has set Hong Kong’s innovation target. Will businesses step up?

Readers discuss the 3 per cent innovation spending target, better data centre deals, and AI governance.

A view of Hong Kong-Shenzhen Innovation and Technology Park in Lok Ma Chau Loop on August 15. Photo: Edmond So
Hong Kong

In Focus | Hong Kong’s wider yuan push: a gateway to the world?

Government has made wider use of the currency a priority, but consumer habits and other obstacles remain.

Culture, Sports, and Tourism Bureau

Hong Kong scraps lighting attraction at The Peak after public outcry

Culture, Sports and Tourism Bureau and Tourism Board conclude no urgent need to roll out project.

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Hong Kong

Later hours unlikely to boost bottle sales at Hong Kong wine festival: exhibitors

While event at Central Harbourfront now closes at 1am on Friday and Saturday, sellers doubt extra hours will lift bottle sales.

The festival opened at the Central Harbourfront on Thursday. Photo: Nora Tam
Hong Kong property

CK Asset pauses Hong Kong sales launch at Yuen Long’s Montage development

The developer declined to give a reason for the suspension but dismissed reports that permission was revoked at the 327-unit Northern Metropolis project.

Japan

Samsung Electronics reportedly ending home appliance sales in Hong Kong

South Korean company to focus on TVs and mobile devices as fridges and washing machines listed as sold out on its Hong Kong online shop, amid reports of a withdrawal.

Energy

Letters | Rising oil prices boost appeal of EVs to Hong Kong commercial drivers

Readers discuss van and truck drivers’ attitudes to electric vehicles, and the significance of this year’s Nobel economics prize.

Vehicles drive past a board displaying fuel prices outside a petrol station in Causeway Bay on April 9. Photo: Jelly Tse
IPO

Regulatory tightening in Hong Kong sees delistings outnumber resumptions: report

Grant Thornton says 35 companies were delisted from city’s stock exchange in 12 months to August this year.

Exchange Square in Central. Photo: Jelly Tse
Hong Kong transport

Immigration rules deter nearly half of Asia-Pacific air travellers, survey finds

Geopolitical tensions are also influencing travel decisions, annual survey by airline body IATA finds.

Hong Kong Monetary Authority (HKMA)

Hong Kong banks leave rates unchanged as HKMA warns of uncertainties

Considerable uncertainty remains over interest rates, monetary authority says after following US Fed in keeping base rate unchanged.

Education in Hong Kong

Hong Kong’s third medical school denies poaching veteran HKU professor

HKU urges school due to open in 2028-29 academic year to seek top scholars from overseas to avoid ‘vicious competition’.

Professor Anskar Leung joined HKU in the 1990s, rising to associate dean of the medical school. Photo: Elson Li
Hong Kong

Hong Kong exports jump nearly 65% in September, highest growth in over 40 years

September’s increase was the highest growth since 65.1 per cent recorded in January 1984.

Imports rose by 57.8 per cent to HK$808.9 billion, leaving a trade deficit of HK$46.3 billion. Photo: Nora Tam
Hong Kong

Hong Kong luxury expo to connect brands with ‘high-spending travellers’

Festival of Connoisseurs to run from November 4 to 6, showcasing private jets, fine jewellery and superyachts.

Hongkong Post

Hongkong Post reports record HK$905 million deficit in ninth year of losses

The deficit comes as mail volume falls by a third in five years, with Hongkong Post betting on e-commerce.

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