Service Industries

China services activity picks up in March

Services made up 46.1 per cent of gross domestic product last year, having overtaken manufacturing as China’s biggest employer in 2011. Photo: Xinhua

Activity in the mainland's services industry rose to a four-month high last month, a private survey showed yesterday, even as persistent weakness in manufacturing has reinforced fears of a sharper-than-expected economic slowdown.

Friday, 4 April, 2014, 12:41am

Shanghai cooks up five-star goals, but the salt is missing

People often talk of how important "software" is for a truly international city after it has already established very good "hardware". They are just like two legs for a person: you can't walk well without either of the two.

14 Oct 2013 - 10:59am 6 comments

There must be a limit to mainland visitor numbers

Our city landscape has been altered to meet the needs of mainland visitors, who are interested in shopping and more shopping. Photo: Nora Tam

The city's economy was stagnant in 2003, before a new policy allowed mainlanders to visit Hong Kong as individuals. The resulting increase was dramatic. The number of mainland visitors rose from 6.8 million in 2002 to 12.25 million in 2004 and to 28.1 million last year, the Tourism Board reports.The total is forecast to rise further this year.

10 Dec 2012 - 7:37am 1 comment

Business Digest, December 6, 2012

Citigroup said it would take a pretax charge of about US$1 billion this quarter as part of a plan to cut more than 10,000 jobs in a cost-saving move.

Chinese insurers freer to invest in banks

8 May 2015 - 9:46am

Always consider 'what if' scenario

Popular wisdom in Hong Kong tends to enshrine property ownership as the key element in any investment portfolio, but one of the repeated mistakes in managing personal wealth is to get swept along by this type of thinking.

7 May 2012 - 12:00am

Cakes and regular calls to find and keep clients

Johnny Cheng Kong-pang (left), an AIA associate financial planner, had a successful career as a pastry chef before he entered the financial services industry. One day some time ago, Cheng accompanied his girlfriend to seek financial advice from Matthew Lui Yue-chun at AIA.

23 Mar 2012 - 12:00am

Sun always shines for planners

The recession forced individual investors to rethink all kinds of assumptions about risk, returns, and the relative importance of different wealth management products in their portfolios. In most cases, the necessary adjustments led to reduced expectations and a more cautious outlook, an inevitable consequence of the general economic trauma.

10 Mar 2012 - 12:00am

Insurers pull back from disclosure policy as Commissioner defers issue

The initiative to provide more transparency on fees changed for investment-linked insurance products has had a setback

On February 29, Annie Choi Suk-han of the Insurance Authority, Hong Kong's main regulator of the insurance industry, sent a letter to the insurance industry with the topic line: Commission Disclosure.

5 Mar 2012 - 12:00am

Cost in the mists of time

A common but poorly understood category of investments has had some harsh scrutiny recently. A wealthy businessman took his financial adviser, the Hong Kong-based Clearwater International, to court over the high commission he paid on on a class of products called investment linked assurance schemes (ILAS).

27 Feb 2012 - 12:00am

Raising the bar, crossing the border

Catering to the growing wealth management needs of Hong Kong's well-heeled also includes extending the boundaries of wealth management excellence.

According to Rosetta Fong, chief executive officer at Convoy Financial Services, financial advisers looking to provide competent and ethical financial planning services need more than just academic qualifications.

7 Jan 2012 - 12:00am

Mainland insurers seen as safe bet despite jitters

Mainland insurers are expected to see double-digit growth in premiums next year on the back of a projected 8.8 per cent economic expansion, according to Swiss Reinsurance.

9 Dec 2011 - 12:00am

Champions champion client focus

The top prize winners at the SCMP/IFPHK Financial Planner Awards 2011 deserved all the plaudits they received at the presentation dinner on 11 October attended by 400-plus industry leaders and fellow professionals.

15 Oct 2011 - 12:00am

Fonts of excellent financial planners

The spotlight naturally falls on the individual finalists during the SCMP/IFPHK Financial Planner Awards, but within the industry another category is watched almost as closely.

That is the Company for Financial Planning Excellence award given to employers with the highest cumulative total of individual prize winners across the competition's three rounds.

15 Oct 2011 - 12:00am

Success a result of teamwork

There was nervous tension and heightened emotions all round as the SCMP/IFPHK Financial Planner Awards 2011 reached their climax at what has become the industry's biggest night of the year.

12 Oct 2011 - 12:00am

Company's strength eases fears in crisis

How is the current global financial crisis affecting business?

12 Oct 2011 - 12:00am