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BUSINESS14h 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
BUSINESS18h 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
BUSINESS18h 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
BUSINESS19h 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
BUSINESS20h 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