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BUSINESS2h agoHong Kong seeks to balance finance growth against cyber risksChinese Vice-Premier He Lifeng said that building Hong Kong “remains a key strategy for China” as he outlined four ways for the city to boost its long-term prospects and support the country’s development. The city should strengthen its role as a centre for international finance and the offshore yuan market, promote high-quality economic and social development, support technological innovation and align with China’s 15th five-year plan, he said in a video address to the Global Financial Leaders’...South China Morning Post
BUSINESS2h agoHong Kong records 15th straight quarter of growth as GDP rises 5.2%Hong Kong’s economy grew by 5.2 per cent year on year in the third quarter, marking its 15th consecutive quarter of expansion, while retail sales rose by 6.4 per cent in September. For the first three quarters combined, the economy expanded by 5.1 per cent, its fastest growth for the period in five years, advance estimates released by the Census and Statistics Department on Tuesday showed. This compared with increases of 4.2 per cent in the second quarter and 5.9 per cent in the first. On a...South China Morning Post
BUSINESS3h agoVice-Premier He Lifeng vows support for Hong Kong as international financial centreBeijing says it will introduce extra measures, as needed, to bolster Hong Kong as an international financial centre, with Vice-Premier He Lifeng pledging continued support in a speech on Tuesday. Delivering a keynote speech at the opening of the 2026 Global Financial Leaders’ Investment Summit in Hong Kong via video link, He said finance was the most important leg of the city’s “four centres and one highland” agenda and stressed that using the advantages of the “one country, two systems”...South China Morning Post
BUSINESS3h agoSingle check-in for those flying through Hong Kong from mainland China under new schemeTravellers flying from Hangzhou or Wuhan to overseas destinations via Hong Kong on different airlines can have their baggage checked through to the final destination under a newly launched service that aims to streamline connections between mainland Chinese cities and other countries. Under the new one-stop service that launched on Tuesday, travellers departing from Hangzhou Xiaoshan International Airport or Wuhan Tianhe International Airport will not need to check in their baggage again when...South China Morning Post
BUSINESS7h agoTokenised gold bar to advance Hong Kong’s ambitions as digital, metal trading hubHong Kong’s plan to start an interbank tokenised gold transaction project marks a crucial step in its quest to make itself a key global hub for the precious metal, according to analysts. The city planned to launch a gold token representing a standard 400-ounce gold bar, referencing HAU, Hong Kong’s ticker for gold prices launched earlier this year, said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu during the annual Fintech Week event on Monday. He said the effort...South China Morning Post
BUSINESS10h agoHong Kong’s malls must evolve into green sanctuaries to stay relevantRetail is making a comeback in Hong Kong. Deloitte China reported an encouraging HK$203 billion (US$25.9 billion) in sales volume in the first half of 2026, beating expectations. Accordingly, they forecast the retail market to reach HK$412 billion by the end of this year. A retail revival should directly translate into reduced vacancies for the city’s bricks-and-mortar stores. However, while high street vacancies dropped to 9.1 per cent, the lowest since 2020, vacancies in prime shopping centres...South China Morning Post
BUSINESS23h agoHKEX extends overnight derivatives trading as Hong Kong chases global market flowBourse operator Hong Kong Exchanges and Clearing (HKEX) is taking a further step towards round-the-clock trading by pushing back the closing bell for its after-hours derivatives market by 75 minutes from next year, according to a statement released on Monday. The derivatives After-Hours Trading (AHT) session would extend to 4.15am from 3am, Hong Kong time, starting in March 2027, subject to regulatory approval and system readiness, according to HKEX. It added it was also considering a further...South China Morning Post
BUSINESS1d agoHong Kong IA weighs new rules for asset-intensive reinsurance — reportThe Hong Kong Insurance Authority is reportedly considering new regulations for asset-intensive reinsurance. This indicates potential changes in the financial regulatory landscape for the insurance sector.reinasia · united states of america
BUSINESS1d agoHow Hong Kong’s fintech strategy is progressing – and where growth still lagsHong Kong has touted rapid progress in the first year of its five-year fintech strategy, pledging to double down on artificial intelligence and tokenisation even as many initiatives face the challenge of achieving commercial scale. Tokenisation, for instance, had moved from the sandbox “into the real world”, said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), at the city’s annual FinTech Week conference on Monday. Hong Kong had authorised 17 tokenised public funds...South China Morning Post
BUSINESS1d agoThe Apec moment Hong Kong needs to seizeThe first Asia-Pacific Economic Cooperation (Apec) forum finance ministers’ meeting to be held in Hong Kong focused on openness, cooperation and resilience. These themes go to the heart of a question confronting the city: as globalisation becomes more difficult and the rules and security boundaries governing international markets grow more complex, what can Hong Kong still offer cross-border commerce? Globalisation is not over. Capital still seeks opportunities overseas, while technology,...South China Morning Post
BUSINESS1d agoLaunch of global legal body’s office in Hong Kong seals city’s law hub status: John LeeThe opening of an international legal body’s first regional office in Hong Kong will cement the city’s position as a global legal hub, help attract international organisations and talent, and deepen regional legal cooperation, Chief Executive John Lee Ka-chiu has said. Lee was speaking as the International Institute for the Unification of Private Law (Unidroit) officially opened its Asia-Pacific Liaison Office in the city on Monday. The office is the independent intergovernmental body’s first...South China Morning Post
BUSINESS1d agoWhat can Cambridge teach Hong Kong about building university towns?Strong government-industry partnership and interdisciplinary education are what make a university town financially viable and successful, the head of a University of Cambridge college has said, sharing the UK’s experience as Hong Kong develops its Northern Metropolis plan. In an interview with the South China Morning Post, Professor Girish Menon, president of Lucy Cavendish College, said Hong Kong’s cosmopolitan character made it “best placed” to place young people at the heart of its university...South China Morning Post
BUSINESS1d agoHas Hong Kong’s IPO boom hit a wall – or is a year-end rush still to come?Hong Kong’s initial public offering (IPO) momentum has cooled sharply in the fourth quarter amid market volatility and tighter regulatory scrutiny, but industry players say a year-end rush of listings could still help the city secure a top-three global ranking for 2026. The market has slowed significantly since October, with only three new listings, all of which closed below their offer prices on debut. Two other IPO candidates shelved their listings after completing procedures, testing Hong...South China Morning Post
BUSINESS1d agoDrug maker Rohto plans clinical trials in Hong Kong as OASES’ first Japan partnerTop university research, cross-border data exchanges and access to mainland China’s large market have attracted Japanese firm Rohto Pharmaceutical to conduct clinical trials in Hong Kong, making it the first company from the country to partner with the city’s government under a flagship investment initiative. Rohto, known for its over-the-counter eye care and skincare products, is among the latest batch of 18 firms recruited by the Office for Attracting Strategic Enterprises (OASES), a...South China Morning Post
BUSINESS1d agoHong Kong summit to test Wall Street sentiment amid geopolitical strains, tech volatilityWhen hundreds of global finance leaders converge in Hong Kong this week, the question on their minds will be whether traditional investment strategies remain viable against escalating geopolitical friction and the rapid ascent of artificial intelligence. Investors have been keen for an answer – or at least clear clues – given that US President Donald Trump has been threatening a new round of strikes on Iran, and after Friday’s sharp sell-off in technology stocks elevated concerns about the...South China Morning Post
BUSINESS1d ago‘Less than a minute’: Hong Kong travellers praise Japan’s new tax refund at airportsHong Kong tour groups returning from Japan have praised a smooth roll-out of the country’s new tax refund arrangement that requires travellers to complete refund procedures at airports or ports rather than at shops. Under the “pay first, refund later” scheme, which took effect on Sunday to curb illicit domestic reselling and tax evasion, international tourists must now pay the 10 per cent consumption tax upfront at the counter. Travellers are now required to complete customs verification before...South China Morning Post
BUSINESS1d agoBig Apple vs Pearl of the Orient? How higher taxes in New York may open door for Hong KongOn November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes. The proposals have intensified criticism of Mamdani, a...South China Morning Post
BUSINESS2d ago3 Hong Kong Chinese-language newspapers raise retail prices by HK$3Three Chinese-language newspapers in Hong Kong have raised their retail prices by HK$3 (40 US cents) this month, marking the first sector-wide adjustment in two years. Ming Pao’s price rise took effect on Sunday, increasing its single-copy price from HK$12 to HK$15, up 25 per cent. Two financial broadsheets will follow suit on Monday. The Hong Kong Economic Times (HKET) will raise its price from HK$12 to HK$15, while the Hong Kong Economic Journal (HKEJ) will increase its price by 20 per cent...South China Morning Post
BUSINESS2d agoWill Argentina’s citizenship scheme lure property buyers from mainland China and Hong Kong?Argentina is the latest country seeking to lure investors with an investment-for-citizenship programme, providing another residency and diversification option for the wealthy, including those from mainland China and Hong Kong, according to analysts. Buenos Aires in October announced two principal investment routes for applicants. One is a US$350,000 non-refundable contribution to the National Treasury and a subscription to a US$800,000 government bond created specifically for the programme,...South China Morning Post
BUSINESS2d agoHong Kong’s art trading hub ambitions rest on more than headline salesA Vincent van Gogh painting not shown publicly for more than 60 years recently drew hundreds of people to Sotheby’s Hong Kong. Painted in May 1890, Châtaigniers en fleurs (Chestnut Trees in Flower) is a major work from his Auvers-sur-Oise period and could set an auction record. For three days, Sotheby’s opened the private collection to public viewing in Hong Kong. Its brief stay raises a question about the city’s art hub ambitions: what lasting expertise can be built around a masterpiece that...South China Morning Post
BUSINESS2d agoPump pressure: how rising fuel costs leave Hong Kong drivers running on fumesVan driver Wong Siu-po, 48, felt life was becoming more difficult than ever as rising fuel prices cost him an additional HK$5,000 (US$640) a month, about a third of his monthly income. With an 11-year-old daughter and an unemployed wife to support, he feels the pressure mounting. “I need to work three hours longer per day to make up for the loss of income,” he said. “I will cut down on air conditioning to save costs.” Wong’s plight echoed survey findings showing that nearly 98 per cent of...South China Morning Post
BUSINESS3d agoBars expect 50% jump in sales on final night of Hong Kong’s ‘Halloween Month’Hong Kong’s inaugural “Halloween Month” has been a boon for businesses, with bar and restaurant operators in Lan Kwai Fong expecting big sales on Saturday, but by 7.30pm police were urging revellers to celebrate elsewhere as the area was packed. With Halloween falling on a weekend this year, businesses were expecting a bumper turnout as the Tourism Board’s inaugural campaign for the celebrations wrapped up. Operators noted a surge in visitors from mainland Chinese cities in the Greater Bay...South China Morning Post
BUSINESS3d agoHong Kong may raise GDP forecast as growth poised for 5-year high: Paul ChanHong Kong’s economic growth this year could be the city’s strongest in five years, with potential for further upward revisions after the full-year forecast was previously raised to a range of 3.5 to 4.5 per cent, the finance chief has said. Financial Secretary Paul Chan Mo-po said on Saturday that the city’s economy grew by 5.1 per cent in the first half of the year, driven by strong export momentum and investment growth. “Although the third-quarter figures have not yet been released, I can...South China Morning Post
BUSINESS3d agoNew renovation body may offer bigger subsidies for ageing Hong Kong districtsHong Kong’s planned renovation monitoring body will consider larger subsidies for homeowners of ageing buildings in older districts or with high elderly populations who use its supervision services for major repairs, the finance chief has said. Financial Secretary Paul Chan Mo-po said on Saturday that the Building Maintenance Support and Services Council, set up to curb malpractice in the industry after the Tai Po fire report, would be non-profit but would have to recover its costs, since owners...South China Morning Post
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