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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.
The Saudi capital Riyadh. The country’s rapid growth has led to a surge in housing demand. Photo: Shutterstock
Hong Kong

Hong Kong firm aims to build 30,000 modular flats a year with Saudi partner

AluHouse and Saudi Arabian partner will build factory to produce prefabricated flats and meet rising demand for homes in the Middle East.

Hong Kong tourism

Editorial | Tighter rules will help ensure Hong Kong’s harbourfront events dazzle

Hong Kong’s Tai Po fire tragedy

Including suppliers in new Hong Kong rules on scaffolding nets ‘overreaching’

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Hong Kong society

Hundreds flock to Fortnum & Mason’s Hong Kong branch closing sale

Hongkongers rush to British department store’s Tsim Sha Tsui outlet in search of bargains, discounted luxury goods ahead of January 26 closure.

Hundreds of eager shoppers queue outside of Fortnum & Mason in Tsim Sha Tsui seeking bargains before the store closes on January 26.. Photo: Edmond So
Hong Kong budget 2026-27

Hong Kong’s finance chief confirms early surplus, vows more elderly support

Paul Chan cites financial market performance and stock trading stamp duty for surplus, as he addresses calls for more welfare at public forum.

Hong Kong property

Hong Kong’s SHKP continues sell-out streak at Sierra Sea

Homebuyers snap up all 213 new flats on sale at Sierra Sea’s Phase 2A as of 9pm on Saturday.

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Banking & finance

What does HSBC’s buyout of Hang Seng Bank mean for its future and investors?

HSBC’s historic US$13.6 billion buyout of Hang Seng Bank aims to cut costs, tackle bad debts and fuel growth, but challenges abound.

Illustration by Henry Wong
Northern Metropolis

Opinion | Northern Metropolis can combine best of central planning and free market

Guided by the national five-year plans, the Hong Kong government is changing policies and offering attractive terms for the project.

Hong Kong healthcare and hospitals

Hong Kong hospital A&E department visits fall 12% after new fees take effect

Number of people benefiting from fee waivers under new pricing regime that started on January 1 triples.

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Hong Kong

Hong Kong sets up 13-member expert panel to help mainland firms expand overseas

Establishment of Expert Committee on Professional Services for Going Global builds on new platform to help match local providers with firms.

Pedestrians cross the street in Central. Photo: Jelly Tse
Retail properties

Fortnum & Mason’s Hong Kong branch to close on January 25, holds clearance sale

‘We would like to express our deepest thanks to you, our customers, for your custom over the years,’ Hong Kong branch says.

The Hong Kong branch opened in 2019. Photo: Handout
Hong Kong

The Drone Age: hi-tech wizardry propels Hong Kong towards lift-off

As Hong Kong prepares to enter the era of flying taxis, key players roll out groundbreaking innovations at the cutting edge of technology.

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Hong Kong property

Repeat buyer tucks into another McDonald’s Hong Kong shop for US$15.2 million

Evergreen Capital Partners added the Causeway Bay shop to its portfolio after acquiring two other outlets from the fast-food giant.

Low-altitude economy

Thousands of passenger, cargo drones will fill Hong Kong skies in decade: expert

Mainland Chinese eVTOL leader AutoFlight will spread wings in Hong Kong amid global push into flying taxi market.

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Autoflight’s Prosperity was on show at last year’s Super Terminal Expo 2025 in Hong Kong. Eugene Lee
Hong Kong property

Hong Kong politician Bunny Chan buys Stanley homes for US$40 million

Businessman and National People’s Congress deputy gets nine-unit property at a 44 per cent discount, says market has bottomed out.

A view of the property at 8 Stanley Beach Road in Hong Kong Island’s Southern district. Photo: Google Maps
Banking & finance

Hang Seng Bank shareholders approve HSBC’s US$14 billion buyout plan

HSBC receives strong backing from Hang Seng Bank’s independent shareholders, getting 85.75 per cent of the votes.

SCMP Exclusives

Exclusive | Is your PayMe history public? Hong Kong watchdog probes HSBC app privacy risks

One of Hong Kong’s largest e-payment apps, PayMe serves more than 100,000 local and online merchants, from retail shops to taxis across city.

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Hong Kong property

Hong Kong’s Sino Land and Great Eagle secure Kowloon site for US$206 million

Acquisition of 41,226 sq ft plot – which could yield 570 homes – reflects confidence in the property market’s recovery as sales rebound.

Sino Land says the site will benefit from an extensive transport network and strong connectivity to major commercial hubs. Photo: Jelly Tse
Hong Kong property

Hong Kong developers rush new flats as sentiment lifts, pressuring recovery

Wheelock and Kerry plan to roll out more than 4,500 units in 2026, even as analysts warn that inventory overhang may cap price gains.

Hong Kong transport

Hong Kong moves ticketing for driving licence applications online to beat touts

Policy change aims to distribute tickets in a fair and orderly manner, Transport Department says.

Hong Kong’s Tai Po fire tragedy

Tai Po housing site ‘viable option’ for fire victims: Hong Kong councillors

Lo Hiu-fung says government should consider plot, about 1.5km from fire-hit Wang Fuk Court, if it wants to help victims resettle as soon as possible.

The fire that broke out at Wang Fuk Court in Tai Po in late November last year killed at least 161 people. Photo: Dickson Lee
Hong Kong workers/labour rights

Letters | Besides part-time employees, Hong Kong should protect gig workers

Readers discuss the status of gig-based work, a health safety net, and the seizure of Nicolas Maduro.

A food delivery rider drives in Jordan on June 12. Hong Kong’s workforce is increasingly shaped by gig-based and project-based work. Photo: Jelly Tse
Hong Kong

Hong Kong toy fair unveils new pavilion for collectors and global brands

150 local and international IP collectibles to be showcased at Hong Kong Toys & Games Fair, which will run alongside baby products and stationery exhibitions.

Hong Kong

Lantau site eyed for Hong Kong’s first aircraft dismantling plant: sources

Site at To Kau Wan deemed suitable because of proximity to airport and access to existing infrastructure, including roads and pier, sources say.

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Hong Kong property

Morgan Stanley lifts Hong Kong property to ‘attractive’ as stars align

City’s home prices are expected to rise around 10 per cent in 2026, with an ongoing rebound heralding the start of a new upcycle.

Hong Kong’s property sector is at the beginning of an upcycle, with prices likely to trend higher this year, according to Morgan Stanley. Photo: Dickson Lee
Asian cinema: Hong Kong film

Hong Kong film Back to the Past rakes in record HK$45 million in first week

Time travel movie beats A Guilty Conscience and The Last Dance to become highest-grossing film in opening week, amid box office gloom in city.

Commuters walk past a poster for Back to the Past at Mong Kok MTR station. Photo: Edmond So
Hong Kong

Tender for Hong Kong’s Central Harbourfront Event Space opens with stricter KPIs

Lawmaker says it is reasonable for government to impose additional conditions on future tenant, given location’s role in promoting city’s image.

Hong Kong

Opinion | With Hetao tech hub, Hong Kong is reimagining its economic future

The city is pivoting towards hi-tech development and greater cross-border integration while committing to innovation ecosystem synergy.

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