Economy

Forget 'Likonomics', it's all about economic stimulus in China again

Chinese Premier Li Keqiang

When Li Keqiang took over as premier early last year, he quickly became known for an economic plan called "Likonomics".

Monday, 7 April, 2014, 7:56am 3 comments

Hong Kong's status as world's freest economy threatened by Singapore, says Heritage Foundation

The policy address slated for Wednesday may cast a shadow over the city's economic freedom. Photo: AFP

Hong Kong has been ranked the world's freest economy for the 20th consecutive year by a right-wing US think tank.

But the free-market-orientated Heritage Foundation has warned that increasingly populist policies, perceived levels of corruption and potential political instability mean the SAR's lofty position is being threatened by Singapore.

15 Jan 2014 - 1:43am 18 comments

Pay trends point to greener pastures across the border

Thee gap in average salary levels between the mainland and Hong Kong will come to an end - or even reverse. Photo: AFP

Every year at this time, many people will begin to think about the same thing - how big a pay rise can I expect for the coming year?

4 Nov 2013 - 3:08pm

Hope highlights the divide between Hong Kong and Shanghai

Optimism among locals in Shanghai is palpable. Photo: Bloomberg

People always like to compare Hong Kong and Shanghai, partly due to the interplay between the two cities since the 1940s, when many wealthy Shanghai families relocated to Hong Kong.

2 Sep 2013 - 7:36am 2 comments

Hong Kong's prospects bright even with competition from Shanghai

George Chen, Financial Services Editor of SCMP; Albert Ng, Regional Managing Partner of EY Greater China; Benjamin Hung, Executive Director and Chief Executive Officer of Standard Chartered Bank (Hong Kong), John Slosar, Chief Executive Of Cathay Pacific Airways; Chan Ka-keung, Secretary for Financial Services and the Treasury and Vincent Lo, Chairman of Shui On Group attend the forum "The Role of Hong Kong as the Ever-Evolving Gateway to and for China" at Admiralty. Photo: K. Y. Cheng

If you have read this column every Monday over the past year, I guess you would feel that we have talked quite a lot about the historic and present-day interplay of Shanghai and Hong Kong. That's exactly why the column is called "Mr. Shangkong".

5 Jun 2015 - 9:00am 3 comments

Greece sees Monday deal on EU-IMF rescue funds

A security guard (centre) checks the entrance to the finance ministry building in Athens during a protest by municipal police officers on Saturday, July 6, 2013. Municipal police officers oppose plans to incorporate them into the national force. Photo: AP

Greece and its international creditors hope to reach a deal by Monday on reforms including thousands of job cuts needed for the debt-laden nation to unlock further aid worth 8.1 billion euros (HK$79.9 billion).

“We have made substantial progress,” Poul Thomsen, the International Monetary Fund’s representative, told reporters in Athens on Sunday.

8 Jul 2013 - 12:22pm

Beijing and Taipei set to agree on service trade pact

Chen Deming, head of the Association for Relations Across the Taiwan Strait. Photo: Xinhua

Taiwan and the mainland are expected to sign a service trade pact during a new round of talks later this month, which could help spur mainland investment on the island.

"Senior negotiators from the two sides will discuss, in a preparatory meeting in Taipei on Friday, details concerning the 9th cross-strait talks," a spokesman for Taiwan's Straits Exchange Foundation said.

13 Jun 2013 - 6:02am

French jobless total hits new record, in blow to Hollande

The locked gates at an entrance to the Gandrange ArcelorMittal steelworks, which closed in 2009. The number of jobless in France hit an all-time high in April. Photo: Reuters

French President Francois Hollande said he was sticking to a target of cutting down unemployment by year-end, after fresh data showed that the number of jobless hit a new all-time high in April.

31 May 2013 - 11:46am

Australia's central bank cut rates as currency stayed strong, minutes show

Australian borrowing costs were cut to 2.75 per cent this month.

The Reserve Bank of Australia cut its benchmark interest rate to a record low this month to boost businesses weakened by the currency's sustained strength, even as households reacted to earlier reductions.

22 May 2013 - 4:34am

Asset inflation policies threaten to create another economic bubble

Asset inflation policies threaten to create another economic bubble

Five years after Lehman Brothers went bust, the global economy remains in stagnation. But you wouldn't notice it if you are in the stock market. The US market is hitting all-time highs. The Japanese market has risen by half in five months. And while Europe's economies are in recession, the shares of its top companies are highly elevated too.

21 May 2013 - 4:15am 12 comments

Dongguan suspends free services as debt crisis bites

Shuikou Cun, Dongguan. Photo: Edward Wong

In a telling sign of the mainland's mounting local government debt crisis, some towns in Dongguan - one of the richest cities - are being forced to suspend free public services and infrastructure projects.

18 May 2013 - 5:05am 3 comments

Paper cuts leave Finnish economy hurting

In the wake of mobile giant Nokia’s spectacular fall, another pillar of the Finnish economy is struggling to adapt to the digital age: the paper industry.

As the distribution of everything from magazines to airline tickets shifts online, major Finnish paper suppliers are scrambling to find new sources of revenue.

13 May 2013 - 11:40am

Abenomics may just work for Japan

Japanese Prime Minister Shinzo Abe. Photo: AFP

When the Liberal Democratic Party returned to power in Japan in December last year, Prime Minister Shinzo Abe vowed to restore growth and inflation through what is now known as Abenomics. This comprised three arrows - monetary policy, fiscal policy and structural reforms.

11 May 2013 - 2:35am

Prudent concern about economy

A board overlooking the floor of the New York Stock Exchange shows an intraday number above 1,600 for the S&P 500. Photo: AP

To judge by the rally in financial markets you would think the world economy is in good shape. The latest US employment figures for April, along with strong upward revisions for February and March, spurred the S&P index to a record high. They did confirm the world's largest economy is growing, but the pace of growth remains slow.

10 May 2013 - 4:43am

Asian economies are looking up

Asian economies are looking up. Photo: Sam Tsang

The global economy shows signs of improving as major tail risks emanating from Europe and the US recede. This also brightens the prospects for Asia.

8 May 2013 - 3:19am

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