Hong Kong Economy | South China Morning Post
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  • Jan 30, 2015
  • Updated: 2:29am

Hong Kong Economy

Global recovery to benefit Hong Kong's trade sector, economists say

Asean became Hong Kong's second-largest trade partner last year, overtaking Europe. Photo: EPA

The global economic recovery led by the United States and Europe will benefit Hong Kong’s import and export industry this year, spurring an expansion in the trade-oriented economy’s gross domestic product, economists say.

Wednesday, 22 January, 2014, 10:49am

Growth eases in Hong Kong private sector as orders from mainland jump, HSBC PMI shows

The Hong Kong economy is still in a sweet spot even as growth eased in December from the previous month. Photo: AFP

A gauge of business conditions in Hong Kong’s private-sector economy showed modest expansion in activity last month, although the rate of growth eased from November’s 10-month peak.

The HSBC purchasing managers index (PMI) for December fell to 51.2 from 52.1 in November. A reading above 50 indicates expansion. A figure below 50 denotes contraction.

6 Jan 2014 - 10:52am

Strong expansion in Hong Kong's private sector shown by HSBC PMI

New business received by private-sector companies expanded at the fastest pace for 10 months. Photo: AFP

The HSBC purchasing managers index (PMI) for last month, released on Wednesday, signalled the strongest improvement in business conditions in Hong Kong’s private sector since January.

The reading improved markedly to 52.1 from 50.1 in October. A survey reading above 50 indicates expansion. A figure below 50 denotes contraction.

4 Dec 2013 - 2:27pm

HSBC's China services PMI confirms rebound indicated by official figure

China's services industry has so far weathered the global growth slowdown much better than the factory sector. Photo: Reuters

A private survey released on Tuesday confirmed official figures from the weekend that showed growth in China’s services industry edged up last month, offering further indications that the economy has stabilised in the run-up to a key party reform meeting.

5 Nov 2013 - 1:10pm

Tourism boosts Hong Kong's economy in second quarter

Hong Kong's economy grew 3.3 in Q2.  Photo: AFP

Hong Kong's GDP showed moderate growth in the second quarter of 2013, as local consumption and spending by inbound tourists helped make up for continuing weaknesses in demand from the advanced markets that the city export to, said government economists.

16 Aug 2013 - 11:09pm

Hong Kong a natural champion of open trade and transparency

Photo: Reuters

This week has seen Britain host the G8 summit as part of its presidency, which is focused on the "3 Ts": fairer taxes, freer trade and greater transparency.

These are critical issues for global prosperity, jobs and sustainable development. They are mutually reinforcing. We need to work towards common international approaches on these issues, and the G8 can add momentum.

19 Jun 2013 - 1:26am

To grow, Hong Kong must branch out from a mainly service economy

Photo: Bloomberg

Hong Kong needs to diversify. Its narrow economic base threatens not only its economic progress but also social stability. The city's weakening competitive edge, revealed in recent reports, has become a hot topic among businesses and policymakers.

13 Jun 2013 - 2:06am 1 comment

Business climate getting bad, says Peter Woo

Wheelock and Co chairman Peter Woo (left) says he was given the opportunity when he was 36 years old and now, it is time for his son Douglas Woo (right). Photo: K.Y. Cheng

The business environment for companies in Hong Kong is deteriorating, says Wheelock and Co chairman Peter Woo Kwong-ching. His remarks came against a backdrop of tighter property regulations, rising operating costs and changing political conditions.

8 Jun 2013 - 3:39am 2 comments

Hong Kong retail sales climb 21pc as gold falls

Jewellers expect the gold craze, which helped boost overall retail sales by 21 per cent last month, to taper off. Photo: Sam Tsang

Plummeting gold prices brought the city an additional HK$4.45 billion in retail sales last month as consumers took advantage of the slump to snap up jewellery and watches, although jewellers expect the gold craze will now taper off.

31 May 2013 - 5:44am

April cargo decline points to 'structural problem'

The strike at the Kwai Chung terminals contributed to the 12 per cent drop in last month's container throughput. Photo: K.Y. Cheng

The 12 per cent slide in Hong Kong's container throughput last month underpinned a structural problem exacerbated by a strike at one of the terminals last month, a port operator said.

17 May 2013 - 6:22am

Double stamp duty on non-residential premises will hit businesses hard

Photo: AP

With limited supply and rife speculation, the cost of property in Hong Kong is notoriously high, which seriously challenges the city's economic development and the public's standard of living.

16 May 2013 - 2:47am

Hong Kong's 'slowdown' is not the threat it seems

Hong Kong's 'slowdown' is not the threat it seems

The front page of Saturday's South China Morning Post made sobering reading. Apparently Hong Kong's economy is slowing, even as inflation is mounting.

The trigger for this alarm call was the release on Friday of economic data for the first quarter of the year.

13 May 2013 - 3:31am

Outsiders have clearer view of our city's true excellence

Peter Woo Kwong-ching, chairman of Wharf. Photo: Dickson Lee

The Wharf (Holdings) chairman Peter Woo noted in his chairman's statement in the group's annual report that Hong Kong had become the top brand and the place to go for many goods and services mainlanders preferred. Thus, the current extraordinary surge in demand from the mainland should be treated as a "happy" problem, even though it challenged the city's capacity and creativity.

13 May 2013 - 5:24am

Letters to the Editor, May 12, 2013

Queen Elizabeth should now abdicate. Photo: AFP

I wrote an article for Chartered Quality Institute's Quality World magazine to discuss how to prevent scandals such as horsemeat illegally used in food products, and the contamination of milk powder, rather than afterwards contain the damage these events cause. One of the solutions to the shortage of milk formula and its rationing in Hong Kong and Britain that I recommended was breastfeeding.

12 May 2013 - 4:00am 3 comments

Economic growth slows in first quarter as inflation looms

Real gross domestic product rose only 0.2 per cent on a seasonally adjusted quarter-to-quarter basis. Photo: Bloomberg

Real gross domestic product rose only 0.2 per cent on a seasonally adjusted quarter-to-quarter basis, down from 1.4 per cent in the last three months of 2012. Year on year, output in the first quarter rose 2.8 per cent, beating market estimates.

11 May 2013 - 4:23am