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BUSINESSAug 28Hong Kong home prices end 13-month upswing as mainland Chinese tax fears weigh on demandHong Kong’s lived-in home prices fell 0.46 per cent in July, halting a 13-month upswing, according to the latest official data. The index tracking second-hand homes slipped to 321.5 in July from 323 in June, Rating and Valuation Department (RVD) data showed on Thursday. It was the first decline in 16 months – since April last year. Prices were flat in May last year before climbing steadily for 13 months from June. “As residential property prices have increased by 7.3 per cent year to date,...South China Morning Post
BUSINESSAug 27Hong Kong Exchanges and Clearing explores merging GEM with main board, source saysBourse operator Hong Kong Exchanges and Clearing (HKEX) is exploring merging the GEM board with its main board by creating a new chapter of its listing rules, according to a source familiar with the discussions. The proposal to create Chapter 18D, which would be a core part of the second phase of the review of the listing regime, would be subject to a public consultation by the end of the year, the source told the South China Morning Post. Merging it with the main board was an option to reboot...South China Morning Post
BUSINESSAug 27Hong Kong gold imports fall 18% in July as mainland giants rush to build vaultsGold flows into Hong Kong eased to about 107 tonnes in July despite mainland corporate buyers pouring capital into new bullion vaults, as they bet on the city’s strategic ambition to establish itself as Asia’s premier hub for the precious metal. The city’s non-monetary gold imports fell about 18 per cent from June, a month that registered a decade-long high as banks built up inventory ahead of the trial launch of the city’s gold clearing and settlement system that opened on July 7. The value of...South China Morning Post
BUSINESSAug 27Hong Kong remains most international city in Asia, widening lead over SingaporeHong Kong has widened its lead over Singapore as Asia’s most international city, buoyed by gains in innovation and ideas, but still trails in attracting technology investment, a leading business chamber study has found. The Hong Kong General Chamber of Commerce’s annual Asian Cities Internationality Index, released on Thursday, ranked Hong Kong first among 11 Asian cities with 74.6 out of 100 points in a measure of seven key areas. Its lead over Singapore widened to two points, up from 0.2...South China Morning Post
BUSINESSAug 26China’s robotics IPO wave gains steam as 2 more firms eye Hong Kong listingsAnother two Chinese robotics start-ups have confirmed plans to launch initial public offerings in Hong Kong as early as next year, boosting the city’s role as a prime fundraising hub for China’s fast-growing technology sector. The two Hangzhou-based firms – both founded by former executives at Alibaba Group Holding – are part of a wave of Chinese embodied artificial intelligence start-ups looking to go public as the industry rushes to scale up production. Infiforce Technology Group, the...South China Morning Post
BUSINESSAug 26Shein valuation plunges to $27 billion in Hong Kong IPOThe valuation of Shein has significantly dropped to $27 billion during its Hong Kong IPO. This indicates a major financial development for the company and its investors.philippinetimes.com · Philippines
BUSINESSAug 26Shein valuation plunges to $27 billion in Hong Kong IPOShein's valuation has significantly dropped to $27 billion during its Hong Kong IPO. This represents a notable financial development for the company in the global market.nepalnational.com · Nepal
BUSINESSAug 26Shein valuation plunges to $27 billion in Hong Kong IPOShein's valuation has significantly dropped to $27 billion during its Hong Kong IPO, indicating a notable change in the company's market assessment.parisguardian.com · France
BUSINESSAug 26Shein valuation plunges to $27 billion in Hong Kong IPOShein's valuation has reportedly dropped to $27 billion during its Hong Kong IPO. This indicates a significant shift in the company's market assessment.singaporestar.com · Singapore
BUSINESSAug 26‘Squeezed further’: calls for SME energy subsidies as Hong Kong power fuel surcharges soarAn industry leader and a lawmaker have called for subsidies for small and medium-sized enterprises after fuel surcharges imposed by Hong Kong’s two power suppliers rose by nearly 80 per cent and 15 per cent, respectively, since March, amid the Middle East conflict. HK Electric, which mainly supplies Hong Kong Island and Lamma Island, announced that its fuel clause charge would increase by 5.9 per cent from August to 60.7 HK cents per kilowatt-hour (kWh) in September. The increase is the fourth...South China Morning Post
BUSINESSAug 26As more expats flock to Hong Kong, luxury home rents poised for further upswingHong Kong’s growing number of expatriates is boosting the city’s residential property leasing market with luxury rents likely to rise by about 5 per cent this year and continue their upswing in 2027, according to property consultancy JLL. The private residential rental index by the Rating and Valuation Department had surged by 18.5 per cent as of June to 205.8 from the Covid-19 pandemic trough in January 2023, which was 173.6, marking the first sustained breach of the 200 threshold. “Hong Kong’s...South China Morning Post
BUSINESSAug 25How mainland Chinese engineers can help Hong Kong firms bridge talent gapMainland China’s vast pool of engineers can help Hong Kong companies expand, bridge their talent gap and scale up operations, industry leaders have said. They shared their insights during a six-day media tour of the Greater Bay Area organised by the Hong Kong and Macau Affairs Office. The itinerary included a research institute in Guangzhou’s Nansha district, a cargo facility and a university in Dongguan, a major industrial city in Guangdong province. Among the key stops was the Guangzhou HKUST...South China Morning Post
BUSINESSAug 25Hong Kong jewellery shop slapped with 30-day tour group ban over coerced salesHong Kong’s tourism watchdog has suspended a jewellery shop from receiving tour groups for 30 days after finding it failed to stop a guide from coercing mainland Chinese visitors into making purchases. The Travel Industry Authority (TIA) said on Tuesday that Kaiser Jewellery International would be barred from receiving any inbound tour group visitors from Wednesday until September 24. “The authority adopts a zero-tolerance approach towards coerced shopping and any conduct that damages the...South China Morning Post
BUSINESSAug 25Hong Kong power firms to raise fuel charges from September amid geopolitical tensionsHong Kong’s two electricity suppliers will raise fuel-related charges from next month, citing geopolitical tensions and volatility in international energy markets. As electricity costs rise, CLP Power and HK Electric have introduced rebate and relief schemes as grass-roots households face higher air-conditioning expenses after a summer with an unusually large number of very hot days. HK Electric, which supplies electricity mainly to Hong Kong Island and Lamma Island, said on Tuesday that its...South China Morning Post
BUSINESSAug 25Hong Kong exports jump 50.7% in July, driven by growth in AI-related electronicsHong Kong exports surged by 50.7 per cent year on year in July, driven by “impressive growth” in artificial intelligence-related electronic products, with the government expecting the robust demand to continue supporting trade development despite geopolitical risks. Provisional figures released by the Census and Statistics Department on Tuesday showed that the value of exports jumped to HK$672.5 billion (US$86.2 billion) last month after a 53.4 per cent rise in June. A government spokesman...South China Morning Post
BUSINESSAug 24Chinese tech, pharma firms eye Hong Kong as springboard for global expansionMainland Chinese technology and pharmaceutical companies are using Hong Kong as a launching pad for global expansion, industry leaders have said, as a major state-owned drugmaker weighs whether to invest in the city’s Northern Metropolis megaproject. The comments highlighting the city’s international background and professional expertise were made during a six-day trip to the rest of the Greater Bay Area, which was arranged by the Hong Kong and Macau Affairs Office and started on Sunday. “Hong...South China Morning Post
BUSINESSAug 24Shein seeks up to $1.77B in Hong Kong IPO at $27B valuationSeeking Alpha Tech
BUSINESSAug 24John Lee urges start-ups to seize opportunities through ‘golden gateway’ of Hong KongHong Kong’s leader has called on scientists, leading enterprises and investment institutions from around the world to seize opportunities in the city, describing it as a “golden gateway” for overseas companies to enter the mainland Chinese market and mainland unicorn firms to expand globally. Speaking at the first Global Unicorn Summit on Monday, Chief Executive John Lee Ka-chiu made a familiar pitch to attendees and entrepreneurs, citing the city’s unique advantages as a “superconnector and...South China Morning Post
BUSINESSAug 24Fast - fashion giant Shein aims for $27bn valuation in Hong Kong market debutFast-fashion company Shein is reportedly targeting a $27 billion valuation for its debut on the Hong Kong market. This indicates a major financial move by a prominent global retailer.theguardian.com · United Kingdom
BUSINESSAug 24Shein plans to raise $1.8bn in Hong Kong IPOMarket capitalisation is nearly three quarters below its peak after fast-fashion retailer’s attempts to list in New York and London failedFinancial Times
BUSINESSAug 23AI - related IPOs raise nearly 100 bln HKD in Hong Kong in 6 months : HKSAR financial chiefAccording to Hong Kong's financial chief, AI-related Initial Public Offerings have generated approximately 100 billion HKD in Hong Kong over a six-month period. This highlights significant investment and growth in the artificial intelligence sector within the region.hongkongherald.com · China
BUSINESSAug 23‘Huge influx’: expat retirees projected to drive Hong Kong’s premium home demandHong Kong is tipped to see more luxury home sales with expatriates increasingly choosing the city as their retirement base, drawn to its low-tax environment as well as business opportunities, according to analysts. “A huge influx of expats who used to live in Hong Kong are moving back with a long-term view to retirement,” said Victoria Allan, founder and CEO of Habitat Property. “Many expats who previously would have left to retire are staying and purchasing [property] for the first...South China Morning Post
BUSINESSAug 23Chinese, Southeast Asian ride-hailing firms eye Hong Kong amid licensing roll-outMore ride-hailing platform operators from mainland China and Southeast Asia have approached the Hong Kong government about entering the city’s market ahead of the launch of licensed operations, the transport minister has revealed. Secretary for Transport and Logistics Mable Chan also said on Sunday that more than 7,500 people had applied for the new combined taxi and ride-hailing vehicle written test, calling the number a “very good and positive” sign. “We hope there will be more competition and...South China Morning Post
BUSINESSAug 23Licence to savour: Hong Kong craft brewers push for on-site beer permitsWhen a 100-strong South Korean tour group approached a Hong Kong craft beer manufacturer for a tour and tasting session, the operator declined their request. The refusal was not down to a lack of confidence in the product or a staff shortage. It was regulatory: the brewery simply lacked a licence to serve its beer on the premises. “It is not easy doing manufacturing in Hong Kong,” said Luke Yardley, founder of local craft beer brewery Yardley Brothers. “It is just a missed opportunity when in...South China Morning Post
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