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BUSINESS6h agoSoutheast Asian buyers emerge as top non-local investors in Hong Kong commercial propertySoutheast Asian investors have emerged as the largest non-local buyers of Hong Kong commercial property, led by Singapore-based capital, according to Savills. As of Tuesday, local and non-local investors – including those from mainland China – were behind an estimated HK$30.36 billion (US$3.87 billion) in transactions involving commercial property deals above HK$50 million in Hong Kong so far this year, data compiled by the property consultancy showed. Southeast Asian investors contributed...South China Morning Post
BUSINESS15h agoHong Kong finance chief urges Cathay to keep fares attractive, add routesHong Kong’s finance chief has called on Cathay Pacific Airways to offer attractive fares and expand its route network, as China’s national development plan reinforces the city’s status as a global aviation hub. Speaking at Cathay’s 80th anniversary celebration on Tuesday, Financial Secretary Paul Chan Mo-po described the flag carrier as more than just a transport provider, calling it an ambassador for Hong Kong that reinforced the city’s status as a global aviation hub and “superconnector”. Chan...South China Morning Post
BUSINESS19h agoMainland Chinese joint venture launches new electric taxi in Hong KongA mainland Chinese joint venture will introduce an electric taxi in Hong Kong next month, but a lawmaker has warned that a lack of quick-charging stations remains the biggest challenge to the government’s target of introducing 3,000 such cabs by next year. SAIC-GM-Wuling, a joint venture between SAIC Motor, General Motors China and Guangxi Automobile Group, on Tuesday unveiled its Darion Taxi, a new six-seater e-taxi to be launched in Hong Kong. DH Legend Motors, the joint venture’s sole Hong...South China Morning Post
BUSINESS22h agoHong Kong airport builds third runway with strategy to help marine environment thriveWhen Hong Kong International Airport (HKIA) set out to build a new runway and associated facilities for the three-runway system operation, engineers had to carefully navigate a challenge hidden beneath the surrounding waters. The project involved 650 hectares (1,606 acres) of reclaimed land adjacent to the existing airport, an area equivalent to about 34 Victoria Parks or 900 standard football pitches. More significantly, some 40 per cent of it sat directly above decades-old mud pits storing...South China Morning Post
BUSINESS22h agoHong Kong visitor arrivals hit post-pandemic monthly high in AugustHong Kong recorded its highest monthly number of visitors since the Covid-19 pandemic in August, provisional official figures show, with authorities attributing the surge to a series of international conferences and mega-events. The Hong Kong Tourism Board said on Tuesday that the city received 5.46 million visitors across the month, up by 6 per cent from a year earlier and the highest monthly total since the pandemic. Tourist numbers in the first eight months of the year also rose by 11 per...South China Morning Post
BUSINESS23h agoHong Kong’s employment outlook rebounds sharply to 14% in fourth quarterHong Kong employers’ hiring sentiment rebounded sharply in the fourth quarter, with far fewer companies expecting to cut jobs as confidence improved alongside stronger economic growth, according to a ManpowerGroup survey. The international human resources firm said the city’s seasonally adjusted net employment outlook rose to 14 per cent, up by 23 percentage points from minus 9 per cent in the third quarter of this year. The outlook is calculated by subtracting the percentage of employers...South China Morning Post