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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.
Hong Kong aims to become a leading global hub for trading in yuan assets. Photo: Shutterstock
Banking & finance

Hong Kong working to boost global banks’ use of yuan trading tools

The city is encouraging more foreign banks to join the Central Moneymarkets Unit, deputy financial secretary says.

Hong Kong transport

Star Ferry fares to rise by up to HK$1.80 from January

Hong Kong

Attitudes shifting in Hong Kong’s favour as city reaps Apec benefits: Paul Chan

Asia-Pacific Economic Cooperation

Apec meeting highlights Hong Kong’s ‘Going Global’ pathway

Finance ministers from Apec nations agreed to boost coordination at a meeting in Hong Kong, where Chief Executive John Lee touted the city’s role in global business.

Photo: Edmond So
Hong Kong property

Surveyors say presales at Pak Shing Kok residential project could begin in 2028

Consortium member New World Development announces outcome of bond exchange programme, with US$189.3 million of new, longer-term bonds issued.

Hong Kong

Only 3% of Hong Kong firms have fully integrated AI into workflows, survey finds

Many firms face hurdles including resistance to organisational change and outdated digital infrastructure, poll finds.

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Seoul

Why foreign companies are still betting on Hong Kong’s culinary reputation

Teaming up with city partners, Seoul-based Biofx will grow hydroponic ginseng while Okaman Honpo will bring Japanese confectionery to local customers.

Biofx founder and CEO Jack Kwon (left) and Farm66 founder and CEO Gordon Tam, pictured here holding a hydroponically grown ginseng plant. Photo: Jonathan Wong
Kenji Okada, fourth-generation master of Okaman Honpo, will launch the brand's first overseas outlet in Hong Kong in collaboration with local firm Master Gift. Photo: Dickson Lee
Hong Kong

Second land tender at Hong Kong’s border tech hub draws 9 bids

Loop Hong Kong Park Company says frontier technology firms and major conglomerates are among the tenderers.

Hong Kong politics

Hong Kong-based IOMed settles more disputes as body marks its first year

International Organisation for Mediation has settled a dispute over an infrastructure project in Malaysia.

Hong Kong’s Tai Po fire tragedy

Scathing Tai Po fire report expected to be submitted on Thursday

Redacted version of the judge-led committee’s report is scheduled for public release next week at the earliest, sources say.

Wang Fuk Court was the scene of Hong Kong’s deadliest fire in decades. Photo: Dickson Lee
Banking & finance

HKMA to swap jobs of 2 deputy heads as part of succession planning: sources

Deputy chief executives Darryl Chan and Howard Lee will take over each other’s roles next month.

Howard Lee Tat-chi is one of the deputy chief executives to switch roles as part of the Hong Kong Monetary Authority’s succession planning strategy, according to sources. Photo: Edmond So
Asia-Pacific Economic Cooperation

‘Risks tilted to the downside’ amid geopolitical tensions, Paul Chan says

Hong Kong’s finance chief urges open trade and investment channels, closer regional cooperation as Apec finance ministers meet in the city for the first time.

Hong Kong science and tech

What exactly is an ‘AI city brain’ and should Hong Kong follow Hangzhou’s lead?

While the government says it is drawing lessons from mainland cities, scholars caution that Hong Kong must not simply copy their formulas.

Hong Kong

Editorial | Ensure standards of Hong Kong’s civil engineering work remain sky high

Recent scandals involving shoddy construction and maintenance work have shaken public confidence in professional practice and institutional safeguards.

An elevator is cordoned at Tsui On House, Tsui Ping North Estate, Kwun Tong, on October 16. The Electrical and Mechanical Services Department said last week that surprise inspections had found serious deficiencies in projects carried out by Taizoom Elevator (Hong Kong) at the estate. Photo: Elson Li
Hong Kong

Apec in Hong Kong: what to know as 500 delegates descend on the city

Beijing is using Hong Kong to showcase its financial gateway role ahead of November’s Apec leaders’ summit in Shenzhen.

The Apec meeting is set to take place at the Hong Kong Convention and Exhibition Centre in Wan Chai. Photo: Karma Lo
John Lee policy address 2026

How does Hong Kong plan to measure the value of a play, ballet or symphony?

Newer groups could get more access to public funds under proposed changes, but established companies urge realistic targets and a long-term view.

China property

Mainland Chinese are still driving Hong Kong’s property market despite 20% tax

After a sharp drop, Hong Kong residential property transactions rebounded by 18.5% in September, with the total value rising by 29.3%.

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Hong Kong

Exclusive | From pandas to Peak vistas, Hong Kong sets out to captivate Apec delegates

Packed social programme for 500 VIPs features Big Buddha, giant pandas and tech hubs in bid to showcase Hong Kong’s soft power.

Delegates will enjoy an up-close experience with six giant pandas at Ocean Park. Photo: Sam Tsang
Hong Kong

Second-hand smartphone traders eye Hong Kong as springboard for global exports

Inaugural pavilion at Global Sources show draws major mainland and overseas players seeking to expand pre-owned device trade.

Hong Kong science and tech

Hong Kong excels at medical research. So what is holding it back?

Hong Kong’s biomedical ambitions face hurdles beyond research funding, experts say, pointing to limited industry investment, production capacity and specialist talent.

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Hong Kong

More drug, semiconductor firms to set up or expand in Hong Kong, OASES head says

Head of Office for Attracting Strategic Enterprises gives preview of government’s announcement of next batch of firms setting up in city.

The companies looking to set up shop or expand in Hong Kong include major pharmaceutical firms. Photo: Xinhua
Paul Chan

Hong Kong ‘optimistic’ on economic growth despite global slowdown, Paul Chan says

Finance chief says city is well placed to channel global capital, support mainland Chinese firms going abroad and fund AI infrastructure in developing economies.

Finance chief Paul Chan Mo-po attends the IMF and World Bank Group’s annual meetings in Bangkok. Photo: Handout
Hong Kong property

The big office divide: why prime buildings are thriving while others sit empty

The global office market has become deeply divided, with rents in prime buildings rising while others sit empty despite cutting rates.

Hong Kong politics

AI used for first time to analyse lawmakers’ 5-year plan, policy address debate

Legco president says AI was used to produce an overview of the three-day debate, with talent and Northern Metropolis as the top themes.

Scams and swindles

Police urge Apple to fix security after 110 reports of fraud over iPhone Duo

Force says company ignored suggestions on strengthening cybersecurity following similar reports last month, with one case involving HK$229,788.

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Apple began its online pre-orders for its foldable iPhone Duo on Friday at 8pm. Photo: Getty Images
Hong Kong tourism

Hong Kong’s revamped Huanggang Port quiet ahead of expected holiday rush

Security chief Chris Tang expects daily trips to exceed 100,000 over Chung Yeung Festival break, with extra staff deployed to handle travellers.

Hong Kong’s revamped Huanggang Port is expected to handle more than 100,000 passenger trips a day over the Chung Yeung Festival long weekend. Photo: Silvia Siu
SCMP Exclusives

Exclusive | Hong Kong touts key advantages over London in bid to become global gold hub

Financial services minister Christopher Hui says government backing, integrated settlement and Shanghai ties will distinguish city’s gold trading ecosystem.

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Hong Kong

Hong Kong aims for share of HK$350 billion yacht industry as travel scheme opens

Senior official signals more measures to boost share of global yacht industry as first mainland Chinese vessel enters Hong Kong under southbound scheme.

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