Public Finance

Let's not pay an even bigger price for political failure

The Bank of Japan has so far dragged its feet on stimulus.

Growth in the world economy subsided in 2012. The expansion since 2009 has been a bitter disappointment because much of the slack created by the recession remains.

Friday, 28 December, 2012, 4:14am

Chinese charity releases records amid money laundering claims

Chinese charity releases records amid money laundering claims

A public charitable foundation released details of its 2011 financial records yesterday in answer to accusations of laundering billions of yuan, but many internet users remained sceptical.

12 Dec 2012 - 4:33am

Government just throwing good money after bad

Government just throwing good money after bad

On Thursday evening, after the market's close, Hong Kong Exchanges and Clearing snapped out a HK$7.75 billion share offering.

The proceeds will go towards funding HKEx's HK$17 billion acquisition of the London Metal Exchange, originally financed with bridging loans.

3 Dec 2012 - 4:26am 2 comments

Long-term focus is on next budget agenda, says John Tsang

John Tsang Chun-wah, Financial Secretary. Photo:Felix Wong

Days after Macau announced a record 8,000-pataca giveaway to its residents, the Hong Kong financial secretary said his next budet in February would focus on long-term planning rather than one-off "sweeteners".

26 Nov 2012 - 4:23am

Macau residents get record 8,000 pataca handout

Macau Chief Executive Dr Fernando Chui Sai-on

Macau residents will receive their biggest cash handout next year since 2008 - 8,000 patacas for permanent residents and 4,800 for non-permanent ones, Chief Executive Dr Fernando Chui Sai-on said in his policy address yesterday, in which "Macau people, Macau land" was mentioned for the first time.

14 Nov 2012 - 4:35am 2 comments

Hong Kong government's agenda to help the poor deserves support

The chief executive has proposed a new old age allowance of HK$2,200 a month to help the poor elderly. Photo: AFP

Newspapers looking at the first 100 days of the Leung Chun-ying administration focused on controversies.

19 Oct 2012 - 2:12am

Hong Kong Open a HK$15m can of worms

Rory McIlory

Taxpayers should ask why they are paying Rory McIlroy an obscene amount of public money to play a few rounds of golf in Hong Kong. The government's Mega Events Fund has agreed to give a whopping HK$15 million to organisers of next month's UBS Hong Kong Open at the Hong Kong Golf Club.

15 Oct 2012 - 3:24am 6 comments

Top fund favours corporateson slowdown end

The mainland's top-performing bond fund manager says corporate debt will outperform government notes as economists have overestimated the need for monetary easing to revive the economy.

14 Oct 2012 - 11:19am

Hong Kong faces same tough tax choices as Singapore, academic says

Lee Hsien Loong. Photo: EPA

Hong Kong faces the prospect of steadily rising taxes, just like Singapore, if it does not increase productivity in the face of an ageing population, an expert warns.

Paul Yip Siu-fai, a professor in population policy at the University of Hong Kong, said this was the likely scenario if the government did not invest in education and occupational training to boost productivity.

28 Aug 2012 - 3:20am

Beijing may bring steel tax breaks back to life

Beijing is mulling moves to revive an old policy exempting high-end steel sold to manufacturers of export products from a 17 per cent value-added tax, in an effort to help the steel industry reeling from widespread losses.

15 Aug 2012 - 10:47pm

Stamp duty chills market

Property prices in London are slowing in what is being seen as signs that tax increases on properties worth more than GBP2 million (HK$24 million) are starting to bite.

In the second quarter, home values rose 0.9 per cent - the lowest level since September 2009, says prime realtor Savills.

11 Jul 2012 - 12:00am

Pupils 'need more help to join after-school activities'

Children from a disadvantaged background still have only limited access to extra-curricular activities, despite the government's vow to usher in an equal learning environment, says an education concern group.

9 Jul 2012 - 12:00am

The battle to rein in wayward local officials

Many people outside the mainland cling to the misconception that the Communist Party leadership, through its dictatorial rule, can easily overcome opposition and enforce difficult decisions for the overall good of the country, unlike politicians in the West, who have to pander to special interest groups.

9 Jul 2012 - 12:00am

No quick fix for cancer of local government debt

For the mainland's financial markets, government intervention at every level continues to distort prices and hamper growth.

But in some sectors, such as the local-government debt market, intervention doesn't seem like such a bad idea.

27 Jun 2012 - 12:00am

Policy U-turn as debt piles up

National lawmakers have made a policy U-turn, barring local governments from directly issuing bonds as concerns mount over their runaway debts.

27 Jun 2012 - 12:00am