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BUSINESS12h agoMan arrested over alleged HK$2.8 million Hong Kong school admission scamA man has been arrested for allegedly defrauding an education consultant out of nearly HK$3 million (US$382,500) by claiming he could secure dozens of places at a Hong Kong school, the South China Morning Post has learned. A police source said on Monday that the suspect, a 51-year-old Hongkonger who claimed to be a businessman, had signed a contract with a 45-year-old woman working as an education consultant on March 1, 2024, claiming he could provide dozens of places at a “Kiangsu-Chekiang...South China Morning Post
BUSINESS16h agoHong Kong’s HK$500b silver economy by 2034 offers ‘blue ocean’ prospects: Paul ChanHong Kong’s silver economy is set to become a HK$500 billion (US$63.8 billion) market by 2034, the city’s finance chief has said, urging the elderly care industry to deploy technology and explore cross-border opportunities. Financial Secretary Paul Chan Mo-po said on Monday that Hong Kong’s ageing population presented both a challenge and a “promising blue ocean” market opportunity for the city, which could serve as a model for other regions. In a speech at an event to mark the 30th anniversary...South China Morning Post
BUSINESS16h agoForms Syntron draws Hong Kong’s next-gen tycoons in HK$940 million IPOHong Kong’s younger generation of tycoons is becoming increasingly active in the city’s initial public offering market through family offices and private investments. But their investments extend beyond the property and traditional financial sectors associated with their predecessors, into technology and digital finance. Prominent business leaders Cheng Chi-heng of New World Development and Peter Lee Ka-kit of Henderson Land participated as cornerstone investors in Shenzhen Forms Syntron...South China Morning Post
BUSINESS17h agoHong Kong faces pressure to speed up trading hours review after South Korea’s moveHong Kong’s stock market is facing fresh pressure to accelerate its review of longer trading hours after South Korea’s main bourse extended its session by four hours on Monday, according to an industry player. The Korea Exchange, South Korea’s bourse operator, launched a real-time after-market from 4pm to 8pm in addition to regular trading from 9am to 3.30pm. It also signalled ambitions to expand to nearly 24-hour trading, following similar plans by Nasdaq and the London Stock Exchange. The...South China Morning Post
BUSINESS18h agoHong Kong consumer watchdog questions supermarkets’ buy-one-get-one-free dealsHong Kong shoppers may have saved less than they expected – or nothing at all – through supermarkets’ “buy-one-get-one-free” and bulk-buy promotions, the city’s consumer watchdog has warned, urging residents to compare unit prices instead of relying on promotional labels. The Consumer Council on Monday released the findings of a survey of 222 products sold by AEON, ParknShop and Wellcome between September 2025 and July this year. It found that the actual discounts offered in some promotional...South China Morning Post
BUSINESS1d agoHong Kong aims to scale its tech ecosystem and nurture more unicorns: HKSTP CEOHong Kong is intensifying efforts to attract technology start-ups and nurture unicorns through expanded financial support via a key government-backed platform, leveraging the city’s booming fundraising activities and world-class financial infrastructure. Investors are displaying an increased appetite for the local tech scene compared with a decade ago – a trend that Terry Wong Ping-sau, CEO of the Hong Kong Science and Technology Parks Corporation (HKSTP), said was a positive sign for the city’s...South China Morning Post
BUSINESS1d agoHong Kong to deepen ties with Global South and Middle East, finance chief saysHong Kong will deepen ties with emerging economies worldwide, expanding connections with the Middle East and belt and road countries, from finance to innovation and technology, according to the finance chief. Financial Secretary Paul Chan Mo-po also said the city aims to build “networked and institutionalised” connectivity with the Global South – a broad term for developing less-industrialised countries, primarily located in Africa, Asia and Latin America. Belt and road countries are nations...South China Morning Post
BUSINESS2d agoHong Kong’s ethnic minority groups can play key role in belt and road, summit hearsHong Kong’s ethnic minority communities can leverage their multicultural backgrounds and language skills to play an “important role” in the city’s efforts to build ties with belt and road countries, the labour minister has said. Other speakers at the Zubin Foundation’s Ethnically Diverse Youth Leadership Summit on Saturday also highlighted the advantages these historically marginalised communities possessed in helping mainland Chinese companies go global. In his opening remarks, Secretary for...South China Morning Post
BUSINESS2d agoHong Kong to table cooling-off period bill for beauty, fitness deals by mid-2027The Hong Kong government will table a bill at the Legislative Council in the first half of 2027 to introduce a statutory cooling-off period for prepaid beauty and fitness contracts, the commerce chief has said. Secretary for Commerce and Economic Development Algernon Yau Ying-wah revealed the timeline on Saturday, two weeks after the government concluded a two-month consultation on the policy proposal to address limitations of the Trade Descriptions Ordinance on August 31. “We hope to table the...South China Morning Post
BUSINESS3d agoKazakh firms eyeing Hong Kong, mainland China markets urged to take long-term viewKazakhstan’s businesses should prioritise long-term fundraising ambitions rather than quick wins in the Hong Kong and mainland Chinese markets, the managing director of the Central Asian country’s sovereign wealth fund has said. Saltanat Satzhan, managing director for development and privatisation at sovereign wealth fund Samruk-Kazyna, said she also aimed to list state-owned rail operator Kazakhstan Temir Zholy (KTZ) in Hong Kong by the end of the year. KTZ, wholly owned by the government...South China Morning Post
BUSINESS3d agoYuen Kee Food enters final stage of Hong Kong IPO after HKEX approval, sources sayYuen Kee Food Group, the owner of well-known restaurant brand Yuen Kee Dumpling, has cleared its listing hearing with the Hong Kong Exchanges and Clearing (HKEX), aiming to raise between HK$300 million (US$38.3 million) and HK$400 million, according to people familiar with the matter. The conclusion of the hearing marked its initial public offering (IPO) plan entering its final stage, and the company planned to kick off the offering in October, the sources said, who asked not to be named because...South China Morning Post
BUSINESS4d agoHong Kong home prices headed for 15% gain this year, Midland forecast saysHong Kong’s home prices will end the year 15 per cent higher than a year earlier, but still 16 per cent below their high-water mark in 2021, according to local property agency Midland Realty. Underpinning the positive forecast, the city’s banks were not likely to follow an increase in US interest rates by the Federal Reserve if one occurred this year, executives from the agency said at a press conference on Thursday. Dave Ma Tai-yeung, CEO of Midland (Residential), said that as the market...South China Morning Post
BUSINESS4d agoSHKP posts 4.6% profit rise amid Hong Kong’s property recoverySun Hung Kai Properties (SHKP), Hong Kong’s biggest developer by market capitalisation, reported its underlying profit for the year ending June rose 4.6 per cent to HK$22.85 billion (US$2.91 billion), excluding investment property revaluations. Meanwhile, its reported profit increased to HK$21.43 billion, backed by a HK$1.38 billion net revaluation gain versus a HK$742 million loss last year, according to its filing with the Hong Kong stock exchange on Thursday. “For the year under review, Hong...South China Morning Post
BUSINESS4d agoKimi maker Moonshot AI to explore dual Hong Kong and Shanghai IPOs to boost capital: sourcesChinese artificial intelligence start-up Moonshot AI, developer of the popular Kimi K3 model, may explore options for dual listings in Hong Kong and Shanghai in pursuit of greater capital and exposure, according to two people familiar with the matter. Since a meeting with its financial backers in July, when the Beijing-based company negotiated detailed arrangements for an initial public offering in Hong Kong, it has hinted at options to also list on a mainland bourse afterwards, one source...South China Morning Post
BUSINESS4d agoMainland Chinese shoppers lose trusted Hong Kong veggie tag as customs revamp hits shelvesMainland Chinese supermarkets, including US warehouse retailer Sam’s Club, have dropped the Hong Kong-bound vegetable label under new customs rules. The change has triggered widespread concern among consumers, as the label had long served as a selling point for high quality amid frequent mainland food-safety incidents. The removal stems from new rules by the General Administration of Customs. From September 1, registration will no longer be required for growing farms, and only food-processing...South China Morning Post
BUSINESS5d agoSusquehanna latest to pick up larger office space in Hong Kong’s Central, sources sayUS investment firm Susquehanna International Group has agreed to lease more than 4,808 square metres (51,762 square feet) of office space at the Cheung Kong Center II, a prime office skyscraper developed by CK Asset Holdings in Hong Kong’s main business zone of Central, according to market sources. Neither Susquehanna nor CK Asset immediately replied to the South China Morning Post’s requests for comments. The new space would span three floors of the property, according to the...South China Morning Post
BUSINESS5d agoHong Kong, Kazakhstan sign MOU on transport lab, discuss low-altitude economyKazakhstan has signed a memorandum of understanding with Hong Kong’s transport authorities to establish a laboratory and discussed low-altitude economy initiatives to help manage traffic jams. Bakhtiyar Mukhametkaliyev, Kazakhstan’s vice-minister of artificial intelligence and digital development, told the South China Morning Post on Wednesday about discussions with the team of Hong Kong’s Secretary for Transport and Logistics Mable Chan on the sidelines of the Belt and Road Summit in the...South China Morning Post
BUSINESS5d agoHong Kong a ‘2-way springboard’ between mainland China and world: John LeeHong Kong will continue to serve as a gateway linking belt and road economies with mainland China and global markets, the chief executive has said, underscoring the city’s role in bringing together capital, talent and businesses to advance the national initiative. Speaking at the opening of the annual Belt and Road Summit on Wednesday, John Lee Ka-chiu said more than 60 government and business agreements and memorandums of understanding (MOUs) would be signed during the event, with the total...South China Morning Post
BUSINESS5d agoHong Kong scores new record in investment products sales in 2025 : surveyA survey indicates that Hong Kong is projected to achieve a new record in investment product sales in 2025. This highlights a positive forecast for the region's financial market.en.people.cn · China
BUSINESS6d agoOman’s No 2 bank Sohar International to open representative office in Hong Kong this weekSohar International Bank, Oman’s second-largest bank by total assets, will open a local representative office in Hong Kong this week, according to sources, underlining the city’s role as a stable financial hub amid Middle East conflicts. CEO Abdulwahid Mohamed Al Murshidi will visit Hong Kong for the office’s opening ceremony on Thursday morning, according to a source, who requested anonymity as the information was private. The new office, located at Cheung Kong Center II in Central, represents...South China Morning Post
BUSINESS6d agoUber to apply for Hong Kong licence by end of October as Macau rides surgeRide-hailing platform Uber will submit its operator’s licence application in Hong Kong by the end of October, its local general manager has revealed, as the city government moves to regulate the service. The platform also said on Tuesday that Hong Kong residents accounted for the largest share of its users in Macau, months after it relaunched in the gaming hub in February following a nearly decade-long absence. “We’re putting our best foot forward, making sure we can comply with the government...South China Morning Post
BUSINESS6d agoInvestors pour record US$1.3 trillion into Hong Kong investment productsSales of non-exchange-traded investment products in Hong Kong surged to a record HK$9.9 trillion (US$1.3 trillion) in 2025, marking a 63 per cent year-on-year increase, according to the latest joint survey by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). A significant expansion in market participation drove the record-breaking performance. The number of investors completing at least one transaction rose 33 per cent to a record at more than 1.6 million,...South China Morning Post
BUSINESS6d agoHong Kong reserves right to seek compensation over faulty hospital lift workHong Kong authorities have reserved the right to seek compensation from contractors over faulty lift installation work that has delayed operations at Queen Mary Hospital’s new block, the development minister has said. Secretary for Development Bernadette Linn Hon-ho said on Tuesday that the main contractor, a Paul Y-Able joint venture, and lift subcontractor Anlev Elex Elevator would be required to bear all costs of remedial work, ensuring public expenditure on the project would not...South China Morning Post
BUSINESS6d agoExpand Hong Kong’s MPF investment choices, lure mainland pension funds: financial councilHong Kong should consider allowing the Mandatory Provident Fund to invest in more asset classes, and lure more long-term patient mainland capital, such as pension funds, to invest globally through the city, the Financial Services Development Council (FSDC) said in a report on Tuesday. The MPF, the city’s compulsory retirement scheme, now has total assets of HK$1.67 trillion (US$213 billion) and invests in stocks, bonds and deposits. The FSDC suggests allowing a portion of the funds to be...South China Morning Post
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