https://www.scmp.com/rss/13532/feed Regina Ip Lau Suk-yee is convenor of the Executive Council and chairwoman of the New People’s Party. She served as Hong Kong's secretary for security from 1998 to 2003. After three years’ studies in the US, she returned to Hong Kong with a view to improving Hong Kong’s governance. She is a former legislator on Hong Kong Island. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Regina Ip Regina Ip For the first time in its history – and in a striking departure from its long-standing doctrine of minimal economic intervention – Hong Kong is preparing to draw up a five-year plan. Chief Executive John Lee Ka-chiu has asked all policy bureaus to help draft proposals by the end of the year. To lead the exercise, veteran civil servant Janice Tse Siu-wah has come out of retirement. The Legislative Council, not to be left out, has formed a committee supported by six coordinating groups spanning... https://www.scmp.com/opinion/hong-kong-opinion/article/3350403/how-markets-will-test-hong-kongs-new-economic-model?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350403/how-markets-will-test-hong-kongs-new-economic-model?utm_source=rss_feed Sun, 19 Apr 2026 01:30:08 +0000 Regina Ip Regina Ip Financial Secretary Paul Chan Mo-po delivered his latest budget on February 25. Over the past decade, under his stewardship, Hong Kong has weathered multiple economic shocks and recently returned to a respectable growth rate of 3.5 per cent. Yet the tasks ahead are formidable: addressing a structural fiscal deficit in the city’s capital account while ensuring sufficient resources for future growth, all against an increasingly volatile and dangerous global backdrop. Article 107 of Hong Kong’s... https://www.scmp.com/opinion/hong-kong-opinion/article/3345682/paul-chan-must-deliver-fiscal-discipline-hong-kong-needs?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3345682/paul-chan-must-deliver-fiscal-discipline-hong-kong-needs?utm_source=rss_feed Sat, 07 Mar 2026 21:30:08 +0000 Regina Ip Regina Ip At this time of year, Financial Secretary Paul Chan Mo-po’s top priority is finalising the Hong Kong government’s budget for 2026-27, balancing requests for incentives and welfare against calls for a return to fiscal prudence. For decades, budget speeches have followed a familiar structure: a review of past performance, near- and medium-term forecasts, support measures for industries and social services, a report on the government’s fiscal position and financial estimates for the coming year.... https://www.scmp.com/opinion/hong-kong-opinion/article/3342610/hong-kongs-budget-should-move-city-towards-inspirational-development?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3342610/hong-kongs-budget-should-move-city-towards-inspirational-development?utm_source=rss_feed Sun, 08 Feb 2026 01:30:08 +0000 Regina Ip Regina Ip The US’ latest National Security Strategy will go down in history as America’s most explicit abandonment of its “liberal hegemony” – its decades-long policy of spreading its liberal ideology to foreign countries through covert regime change operations or open invasions. “We seek good relations and peaceful commercial relations with the nations of the world without imposing on them democratic or other social change that differs widely from their traditions and histories,” the document says. Does... https://www.scmp.com/opinion/hong-kong-opinion/article/3338474/what-us-national-security-strategy-means-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3338474/what-us-national-security-strategy-means-hong-kong?utm_source=rss_feed Sun, 04 Jan 2026 01:30:10 +0000 Regina Ip Regina Ip In his most comprehensive policy address yet, Hong Kong Chief Executive John Lee Ka-chiu mapped out dozens of policy measures to boost Hong Kong’s hub economy, help small and medium enterprises, shore up the property market, promote tourism, develop new tech-based industries, raise fertility and train talent, just to name a few. However, the emphasis on the economy should not divert attention from the key reforms outlined in Lee’s address, which – if successfully implemented – would have a... https://www.scmp.com/opinion/hong-kong-opinion/article/3326091/hong-kong-doubles-down-innovation-and-accountability-its-future?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3326091/hong-kong-doubles-down-innovation-and-accountability-its-future?utm_source=rss_feed Sun, 21 Sep 2025 01:30:09 +0000 Regina Ip Regina Ip In a recent interview, Secretary for Commerce and Economic Development Algernon Yau Ying-wah hit the nail on the head in pinpointing uncertainty as Hong Kong’s greatest economic challenge. “The biggest challenge is there are many uncertainties, because the US and China trade negotiations are ongoing. Not until the time when everything is settled, [will] the case become clearer,” Yau said. United States President Donald Trump’s new tariff rates on dozens of trading partners that came into effect... https://www.scmp.com/opinion/hong-kong-opinion/article/3323587/never-mind-trumps-trade-war-hong-kong-pulling-ahead?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3323587/never-mind-trumps-trade-war-hong-kong-pulling-ahead?utm_source=rss_feed Sun, 31 Aug 2025 01:30:08 +0000 Regina Ip Regina Ip The idea that Hong Kong could play a leading role in the global space economy was greeted with scepticism when I raised the possibility with Chief Executive John Lee Ka-chiu earlier this month. However, critics fail to realise that space technologies have permeated many aspects of our lives – from checking the weather and ordering our meals on our mobile phones to navigating our daily commutes and settling stock transactions in real time. A report published by the American consultancy firm... https://www.scmp.com/opinion/hong-kong-opinion/article/3317831/few-small-steps-hong-kong-giant-leap-chinas-space-sector?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3317831/few-small-steps-hong-kong-giant-leap-chinas-space-sector?utm_source=rss_feed Sun, 13 Jul 2025 01:30:07 +0000 Regina Ip Regina Ip Hong Kong is at risk of splitting up into two economies. On one end, Hong Kong’s financial, professional and business services are being revived on the back of China’s resurgent, tech-driven economy and the shifting balance of power between Washington and Beijing. US President Donald Trump’s global tariff war, announced on April 2, was supposed to kneecap the world. But the shock and awe unleashed have rapidly dissipated due to rising misgivings about the looming fiscal crisis, compounded by the... https://www.scmp.com/opinion/hong-kong-opinion/article/3315161/hong-kongs-financial-sector-soars-what-about-food-and-retail?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3315161/hong-kongs-financial-sector-soars-what-about-food-and-retail?utm_source=rss_feed Sun, 22 Jun 2025 01:30:08 +0000 Regina Ip Regina Ip For several years, Chinese officials have been talking about “changes unseen in a hundred years” without elaborating what they have in mind. Looking at the drastic changes to the world order since Donald Trump returned to the White House, one can only conclude that the Chinese have spoken with uncanny prescience. There have indeed been many changes to the international system in recent years, starting with a rapid deterioration of US-China relations since Trump’s first term as US president. A... https://www.scmp.com/opinion/china-opinion/article/3311508/how-hong-kong-can-help-defend-rules-based-order?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3311508/how-hong-kong-can-help-defend-rules-based-order?utm_source=rss_feed Sun, 25 May 2025 01:30:09 +0000 When discussing Hong Kong’s and Singapore’s comparative advantages, pundits have often framed the narrative in Dickensian terms as “a tale of two cities”. Both economies are vibrant financial, trading and shipping hubs, and are in direct competition in many areas. Yet it would be delusional to hold Singapore up as Hong Kong’s chief rival. The supposed competition to attract touring pop stars and family offices distracts from fundamental differences in the structure and outlook of the two... https://www.scmp.com/opinion/hong-kong-opinion/article/3305198/hong-kongs-economy-needs-lean-and-mean-civil-service?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3305198/hong-kongs-economy-needs-lean-and-mean-civil-service?utm_source=rss_feed Sun, 06 Apr 2025 01:30:09 +0000 Financial Secretary Paul Chan Mo-po was caught between a rock and a hard place as he drew up the budget for the financial year 2025-26. Ever since he disclosed at a meeting in the Legislative Council last December that the government would run a fiscal deficit for the third consecutive year, and that it would amount to HK$100 billion in 2024-25, pressures have been mounting on him to take decisive measures to bring public finance back into a healthy balance. In fact, the financial secretary had... https://www.scmp.com/opinion/hong-kong-opinion/article/3300543/hong-kong-civil-service-needs-be-hauled-21st-century?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3300543/hong-kong-civil-service-needs-be-hauled-21st-century?utm_source=rss_feed Sun, 02 Mar 2025 01:30:09 +0000 In the Year of the Snake, Hong Kong enters a world that is more perilous than ever, with US President Donald Trump threatening tariffs against key trading partners and intensifying technological competition with China. Comments from Chinese officials that there are “no winners” in a trade war drop strong hints that China would not hesitate to retaliate if it is targeted. Hong Kong is powerless to put brakes on a trade or tech war, but when it comes to the troubles roiling Hong Kong, the worst... https://www.scmp.com/opinion/hong-kong-opinion/article/3296884/why-worst-may-be-over-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3296884/why-worst-may-be-over-hong-kong?utm_source=rss_feed Sun, 02 Feb 2025 01:30:08 +0000 Hong Kong has plodded through another challenging year with some hits and misses. On the downside, economic growth is forecast to slow to 2.5 per cent. Financial Secretary Paul Chan Mo-po also expects the fiscal deficit to exceed HK$100 billion (US$12.8 billion). His admission drove home the fact that the government has, for all the clawbacks from the Housing Authority’s reserve and bond issuance, been effectively running a deficit since 2019. This raises the alarm that Hong Kong could be facing... https://www.scmp.com/opinion/hong-kong-opinion/article/3292357/hong-kong-macau-can-grow-chinas-appeal-age-us-containment?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3292357/hong-kong-macau-can-grow-chinas-appeal-age-us-containment?utm_source=rss_feed Sun, 29 Dec 2024 01:30:07 +0000 US president-elect Donald Trump’s decisive victory over Vice-President Kamala Harris, the Republican Party’s control of Congress and strong backing from his appointees on the US Supreme Court will make him the most powerful US president in recent history. He is coming into office with the unreserved support of the world’s richest man, according to the Bloomberg Billionaires Index – tech mogul Elon Musk – who has just been named to lead a new department of efficiency. The massive power Trump now... https://www.scmp.com/opinion/hong-kong-opinion/article/3286525/can-beijing-and-big-business-trump-proof-hong-kong?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3286525/can-beijing-and-big-business-trump-proof-hong-kong?utm_source=rss_feed Sun, 17 Nov 2024 01:30:09 +0000 Hong Kong Chief Executive John Lee Ka-chiu delivered his third policy address on October 16. As expected, he opened with an iteration of Beijing’s expectations of Hong Kong and the city’s institutional strengths under “one country, two systems”, plus the completion of its constitutional duty to enact national security legislation. Though economic competitiveness was not billed as the chief selling point, there was a noticeable shifting of gears to double down on the economy. The growth-enhancing... https://www.scmp.com/opinion/hong-kong-opinion/article/3282871/how-john-lees-policy-address-sets-hong-kong-success?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3282871/how-john-lees-policy-address-sets-hong-kong-success?utm_source=rss_feed Sun, 20 Oct 2024 01:30:08 +0000 In July, Hong Kong continued to post strong double-digit growth in external trade, increasing the total value of merchandise trade in the first seven months to a solid 10.1 per cent year on year. The city’s strong trade performance brought few cheers, as the continued slump in retail sales, which declined a further 11.8 per cent in July cast a pall on the economic outlook. The good news is that after months of struggling to revive tourism-related retail, catering and hotel accommodation sectors,... https://www.scmp.com/opinion/hong-kong-opinion/article/3278356/hong-kong-has-what-it-takes-bounce-back-we-just-need-pull-together?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3278356/hong-kong-has-what-it-takes-bounce-back-we-just-need-pull-together?utm_source=rss_feed Sun, 15 Sep 2024 01:30:08 +0000 The Olympic Games mean different things to different people. Which country has done best in the games also depends on how you count the medals. Where gold medals are concerned, China’s performance in the Paris Olympics is doubtless its best since 2008. This year, it tied with the US in gold medals, recording the most golds medals it has ever won at a Summer Olympics away from home. China maintained its dominant position in table tennis and diving, while also performing well in swimming and... https://www.scmp.com/opinion/china-opinion/article/3274583/how-achieve-olympic-success-china-offers-some-answers?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3274583/how-achieve-olympic-success-china-offers-some-answers?utm_source=rss_feed Sun, 18 Aug 2024 01:30:17 +0000 National industrial strategies, the subject of intense study and debates in the 1980s in the wake of the phenomenal success of Japan’s industrial economy, have returned to the centre stage of global attention. Much of this stems from the fact that two of the world’s largest economies, the US and China, have focused more on industrial policy. In August 2022, US President Joe Biden signed into law two pieces of legislation, the Chips and Science Act and the Inflation Reduction Act, which provided... https://www.scmp.com/opinion/china-opinion/article/3271063/late-game-hong-kongs-big-splash-tech-must-pay?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3271063/late-game-hong-kongs-big-splash-tech-must-pay?utm_source=rss_feed Sun, 21 Jul 2024 01:30:08 +0000 A conversation I had with the late David Akers-Jones, who served as chief secretary before 1997, spotlights how much the government’s economic policymaking has changed from its old market-driven, freewheeling days. That was around 2016. Musing over Hong Kong’s growth possibilities and looking westward towards Hong Kong’s outlying islands from his West Kowloon flat, Akers-Jones quipped that the next chief executive would have many ribbons to cut at opening ceremonies of major infrastructure... https://www.scmp.com/opinion/hong-kong-opinion/article/3267497/hong-kong-must-boldly-innovate-faster-keep-times?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3267497/hong-kong-must-boldly-innovate-faster-keep-times?utm_source=rss_feed Sun, 23 Jun 2024 01:30:11 +0000 The recent incident in the United Kingdom, in which an office manager and two other people connected with the Hong Kong Economic and Trade Office (ETO) in London were charged under the UK’s National Security Act of 2023, has cast an unusual pall of intrigue and mystery over the role of the ETO in London. Hong Kong has 14 ETOs across North America, the United Kingdom, Europe, Japan, Southeast Asia and Australia. They were established in accordance with Article 156 of the Basic Law, which provides... https://www.scmp.com/opinion/hong-kong-opinion/article/3264003/hong-kong-trade-offices-contributions-ties-uk-mustnt-be-forgotten?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3264003/hong-kong-trade-offices-contributions-ties-uk-mustnt-be-forgotten?utm_source=rss_feed Sun, 26 May 2024 01:30:11 +0000 The tireless efforts the government is making to reboot Hong Kong’s economy will be futile if the city’s leaders fail to grasp the challenge of integration within the Greater Bay Area and come up with strategies to turn the challenges into opportunities. A framework agreement for deepening cooperation between Guangdong province, Hong Kong and Macau was signed on July 1, 2017. Almost seven years on, development in the bay area plan is bringing about profound changes to Hongkongers’ lifestyle and... https://www.scmp.com/opinion/hong-kong-opinion/article/3259598/hong-kong-must-turn-greater-bay-area-integration-challenges-opportunities?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3259598/hong-kong-must-turn-greater-bay-area-integration-challenges-opportunities?utm_source=rss_feed Sun, 21 Apr 2024 01:15:12 +0000 Article 23 of the Basic Law, a law made by China’s National People’s Congress which sets out the constitutional arrangements for Hong Kong, requires the Hong Kong Special Administrative Region to enact laws on its own to prohibit seven offences which threaten national security. Despite the best intentions of the officials in charge, the first campaign to implement Article 23 ended in mass protests in mid-2003, and the national security bill was aborted after the Liberal Party, which held eight... https://www.scmp.com/comment/hk-opinion/article/3256329/article-23-after-victory-lap-whats-next-hong-kong?utm_source=rss_feed https://www.scmp.com/comment/hk-opinion/article/3256329/article-23-after-victory-lap-whats-next-hong-kong?utm_source=rss_feed Sun, 24 Mar 2024 01:30:24 +0000 Financial Secretary Paul Mo-po Chan had few palatable options before him when he drew up the 2024-25 budget. The government has been running a fiscal deficit almost every financial year since 2019, and the forecast deficit for 2023-24 would have widened to HK$173 billion (US$22.1 million) but for a bond issue of HK$72.5 billion. Measures to balance the budget, whether cutting back on welfare expenditure or raising taxes, are sure to generate a substantial backlash from a public accustomed to low... https://www.scmp.com/comment/opinion/hong-kong/article/3253780/hong-kong-financial-secretarys-hands-were-tied-he-got-least-one-thing-right?utm_source=rss_feed https://www.scmp.com/comment/opinion/hong-kong/article/3253780/hong-kong-financial-secretarys-hands-were-tied-he-got-least-one-thing-right?utm_source=rss_feed Sun, 03 Mar 2024 01:30:09 +0000 Like many other countries, China has a national security law. It has the power to extend it to Hong Kong by adding it to Annex III of the Basic Law, a law enacted by the National People’s Congress in 1990 setting out the arrangements for the “one country, two systems” formula under which Hong Kong is governed. Yet, in view of the separate legal and judicial systems applied in Hong Kong, Beijing agreed that Hong Kong can have its own national security law and imposed a duty on the special... https://www.scmp.com/comment/opinion/article/3250705/another-article-23-national-security-law-fiasco-would-shatter-hong-kong-governments-credibility?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3250705/another-article-23-national-security-law-fiasco-would-shatter-hong-kong-governments-credibility?utm_source=rss_feed Sun, 04 Feb 2024 01:30:17 +0000 After a year of stability pockmarked by patchy economic recovery, Hong Kong’s financial secretary faces the triple challenge of weak local consumption, slumping stock and property markets, and the spectre of a structural fiscal deficit. For an economy that has prided itself on the ability to chalk up hefty fiscal surpluses despite a low and simple taxation system, Hong Kong’s current predicament calls for a clear-eyed recognition of underlying trends and the changed business environment. The... https://www.scmp.com/comment/opinion/article/3248167/hong-kongs-economy-sputters-its-time-face-new-reality?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3248167/hong-kongs-economy-sputters-its-time-face-new-reality?utm_source=rss_feed Sun, 14 Jan 2024 01:30:14 +0000 The district council elections held on December 10 under revamped rules completes the last piece of the political jigsaw which perfected the “patriots-only” governance structure. The Hong Kong and Macau Affairs Office lauded the reshaped district councils as a key building block in keeping anti-China and anti-Hong Kong forces from participating in district organisations. Among the many other compliments lavished on the elections, Chief Executive John Lee Ka-chiu praised the electoral outcomes... https://www.scmp.com/comment/opinion/article/3245194/hong-kong-district-council-election-why-weak-middle-class-turnout-troubling?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3245194/hong-kong-district-council-election-why-weak-middle-class-turnout-troubling?utm_source=rss_feed Sun, 17 Dec 2023 01:30:08 +0000 On October 25, Chief Executive John Lee Ka-chiu delivered his second policy address with continuing emphasis on the economy and a wide gamut of measures to improve livelihood, from land and housing to support for women, the elderly and ethnic minority groups. Before the announcement, the markets had expected reductions in stamp duties on stock and property transactions. The measures that were unveiled – reducing the stock transaction stamp duty to 0.1 per cent, shortening the applicable period... https://www.scmp.com/comment/opinion/article/3239423/john-lees-2023-policy-address-shows-hong-kong-waking-new-realities?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3239423/john-lees-2023-policy-address-shows-hong-kong-waking-new-realities?utm_source=rss_feed Sat, 28 Oct 2023 21:30:08 +0000 Chief Executive John Lee Ka-chiu and his team deserve full credit for how swiftly and effectively the government mitigated the disastrous trails left by Typhoon Saola and the record-breaking “black” rainstorm that deluged Hong Kong for more than 16 hours. In a day or so, areas cut off from the rest of the city by flooding, landslides or fallen trees were rapidly unblocked, a feat unimaginable even in developed countries where emergency relief teams could take weeks to restore power and water,... https://www.scmp.com/comment/opinion/article/3235422/premium-destination-hong-kong-should-aim-high-revive-its-tourism-and-economy?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3235422/premium-destination-hong-kong-should-aim-high-revive-its-tourism-and-economy?utm_source=rss_feed Sat, 23 Sep 2023 21:30:09 +0000 Some 2,200 years ago, the first emperor of China built a wall to fend off marauding barbarians from the north. The Great Wall of China kept the invaders at bay for long periods, but it did not prevent it from being breached from time to time. In 1644, despite the Great Wall, China fell to the Manchu. They established the Qing dynasty, the last imperial dynasty of China. Today, the United States – considered by some the most powerful empire in human history, thanks to its many natural advantages... https://www.scmp.com/comment/opinion/article/3231481/world-has-more-fear-aggressive-us-peaceful-china?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3231481/world-has-more-fear-aggressive-us-peaceful-china?utm_source=rss_feed Sat, 19 Aug 2023 22:15:09 +0000 In response to recent questions on Hong Kong’s drop in competitiveness ranking in this year’s World Competitiveness Yearbook, Chief Executive John Lee Ka-chiu acknowledged that brain drain and population decline were factors affecting Hong Kong’s ranking. The government has rolled out multiple initiatives to stem the outflow and recruit fresh talent, but record numbers of civil service departures are spreading concerns in the community. Government statistics released in mid-July, in response to... https://www.scmp.com/comment/opinion/article/3228437/hong-kong-must-staunch-outflow-talent-civil-service?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3228437/hong-kong-must-staunch-outflow-talent-civil-service?utm_source=rss_feed Sat, 22 Jul 2023 22:16:03 +0000 When I was living in California in the 2000s, Americans noted that the Spring Festival was the only time when Chinese ports would close and indefatigable Chinese workers would take a prolonged break. Savvy online shoppers put in their Chinese orders well in advance. That was soon after China joined the World Trade Organization. US-China trade boomed, and the impact on American life was immediate and visible. Shops overflowed with cheap Chinese imports. Americans filled their homes with staples... https://www.scmp.com/comment/opinion/article/3224192/us-grand-strategy-shutting-out-china-seems-be-working-what-end?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3224192/us-grand-strategy-shutting-out-china-seems-be-working-what-end?utm_source=rss_feed Sun, 18 Jun 2023 00:00:10 +0000 Much has changed in the global balance of power since the 1972 Shanghai Communique set in motion steps towards the normalisation of US-China relations. This relationship has since become the world’s most consequential. The steady US-China collaboration on trade, investment, manufacturing, science and technology, and academic, sport and cultural exchanges, in the past 50 years has yielded handsome dividends for both countries and the world. Yet, in recent years, relations have deteriorated... https://www.scmp.com/comment/opinion/article/3216934/taiwan-question-beijing-not-us-resolve?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3216934/taiwan-question-beijing-not-us-resolve?utm_source=rss_feed Sat, 15 Apr 2023 17:00:23 +0000 Public attention on Financial Secretary Paul Chan Mo-po’s budget for 2023-24 has been riveted on the issue of consumption vouchers. Pundits have overlooked a watershed development, first announced in Chief Executive John Lee Ka-chiu’s policy address delivered last October, and given full financial support in Chan’s budget, to put into effect what will be Hong Kong’s first-ever industrial policy. As long-standing industrial policy agnostics, the Hong Kong authorities have never adopted an... https://www.scmp.com/comment/opinion/article/3213764/laissez-faire-no-more-hong-kongs-aggressive-tech-hub-plans-come-not-moment-too-soon?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3213764/laissez-faire-no-more-hong-kongs-aggressive-tech-hub-plans-come-not-moment-too-soon?utm_source=rss_feed Sun, 19 Mar 2023 00:15:10 +0000 The Hong Kong government has always denied that it has a high land price policy. Following the withdrawal from sale in January of a large, valuable residential plot in Stanley after all four tenders failed to meet the reserve price, Financial Secretary Paul Chan Mo-po reiterated that the government would not sell land on the cheap. The government stuck to its guns despite ratcheting up a cumulative financial deficit of HK$183.2 billion (US$23 billion) at the end of last year. Since 2019, the... https://www.scmp.com/comment/opinion/article/3209652/hong-kong-government-must-break-its-habit-relying-property-developers?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3209652/hong-kong-government-must-break-its-habit-relying-property-developers?utm_source=rss_feed Sat, 11 Feb 2023 22:15:07 +0000 Six months into his office, Hong Kong Chief Executive John Lee Ka-chiu has lived up to his promise of leading the government in a “result-oriented” and “solution-driven” manner. After battling seemingly intractable challenges on multiple fronts, Lee has surpassed expectations, and won quiet respect and acceptance, thanks to his practical and down-to-earth work style. On taking over, Lee’s most pressing task was returning Hong Kong to normalcy after more than two years of one of the world’s... https://www.scmp.com/comment/opinion/article/3205854/john-lee-made-2022-hong-kongs-year-action-and-reconnection?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3205854/john-lee-made-2022-hong-kongs-year-action-and-reconnection?utm_source=rss_feed Sat, 07 Jan 2023 22:45:07 +0000 The year 2022 will go down in Hong Kong history’s as one of great significance. The city celebrated its 25th anniversary as China’s first special administrative region (SAR). The celebrations followed the Communist Party’s commemoration of its centenary last year. For the first time since reunification, in June last year, about 70 government, political and community leaders were invited to Beijing to join the party’s celebration of China’s transformation into a modern, socialist state with... https://www.scmp.com/comment/opinion/article/3202568/2022-will-go-down-year-hong-kongs-re-education?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3202568/2022-will-go-down-year-hong-kongs-re-education?utm_source=rss_feed Sat, 10 Dec 2022 23:15:13 +0000 At the Global Financial Leaders’ Investment Summit, hosted by the Hong Kong Monetary Authority earlier this month, Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, caused a stir by urging the audience not to read too much foreign media, but to study President Xi Jinping’s report to the 20th party congress instead. Some foreign media took Fang’s half-joking remarks as an affront, but Fang was being disingenuous. Xi’s report, steeped in China’s history, politics, culture... https://www.scmp.com/comment/opinion/hong-kong/article/3199157/can-hong-kong-reprise-its-role-chinas-intermediary-and-window-world?utm_source=rss_feed https://www.scmp.com/comment/opinion/hong-kong/article/3199157/can-hong-kong-reprise-its-role-chinas-intermediary-and-window-world?utm_source=rss_feed Sun, 13 Nov 2022 00:15:14 +0000 World financial markets are facing their worst turmoil since the 2008 financial crisis. The Federal Reserve’s belated then aggressive action in raising interest rates to fight US inflation has sent shock waves through financial markets. The strong dollar, war in Ukraine, energy crisis and China’s economic slowdown constitute the ingredients of what World Bank chief David Malpass warned of as a “perfect storm”, putting the world at risk of stagflation. Markets are watching to see which way the... https://www.scmp.com/comment/opinion/world/article/3194797/us-must-stop-obsessing-over-fake-china-threat-narrative-and?utm_source=rss_feed https://www.scmp.com/comment/opinion/world/article/3194797/us-must-stop-obsessing-over-fake-china-threat-narrative-and?utm_source=rss_feed Sat, 08 Oct 2022 17:00:11 +0000 In recent weeks, not a day has passed without Hong Kong seeing media reports of accelerating outflows of skilled professionals which pose an existential threat to a city which thrives on the talent of its people. The midyear population estimates published by the Census and Statistics Department show a decline of 121,500 people relative to 2021 and a net outflow of 95,000. The statistics do not reflect the shortages being felt in many critical areas, such as teachers, doctors, nurses, managerial... https://www.scmp.com/comment/opinion/article/3191914/labour-shortages-ageing-population-and-outdated-immigration?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3191914/labour-shortages-ageing-population-and-outdated-immigration?utm_source=rss_feed Sat, 10 Sep 2022 22:45:21 +0000 President Xi Jinping, in his keynote speech in Hong Kong on July 1, described the city as “a pioneer riding the wave of our country’s great cause of reform and opening up”. He lauded Hong Kong for its role “as an important window and bridge connecting the Chinese mainland and the world” which has “made an irreplaceable contribution to the miracle of long-term, steady and fast economic development of the motherland”. Not only did Xi compliment Hong Kong for its strengths as a free and open... https://www.scmp.com/comment/opinion/article/3188663/how-hong-kong-can-rise-challenge-telling-its-story-well?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3188663/how-hong-kong-can-rise-challenge-telling-its-story-well?utm_source=rss_feed Sun, 14 Aug 2022 02:15:22 +0000 The heavy rains earlier this month brought vivid memories of the torrential downpour that all but drowned out the Prince of Wales’ farewell speech at Tamar 25 years ago. Drenched in the heavy rain, many guests rushed home to change clothes before they could witness the change of sovereignty. For some loyal British subjects, it was as though the heavens were mourning the end of British rule and the foul weather was a portent of stormy times ahead. For others, who welcomed Hong Kong’s return to... https://www.scmp.com/comment/opinion/article/3183604/how-hong-kongs-unique-strengths-can-help-it-find-success-next-25?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3183604/how-hong-kongs-unique-strengths-can-help-it-find-success-next-25?utm_source=rss_feed Sat, 02 Jul 2022 04:15:12 +0000 As July 1 draws near, rumours are rife that, hot on the heels of the appointment of John Lee Ka-chiu, former secretary for security, as the sixth-term chief executive of Hong Kong, another senior official hailing from the disciplined services will be appointed to the No 2 position in government. Two of our four chief executives thus far have come from the prestigious administrative service of the government, a clear sign of Beijing’s trust in the competence of the elite administrative officers... https://www.scmp.com/comment/opinion/article/3181175/hong-kong-led-ex-police-officer-elite-administrative-officers-will?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3181175/hong-kong-led-ex-police-officer-elite-administrative-officers-will?utm_source=rss_feed Sat, 11 Jun 2022 23:15:11 +0000 Five years ago, amid much fanfare about an intense, three-way contest for Hong Kong’s chief executive post, Carrie Lam Cheng Yuet-ngor, a veteran civil servant, was elected with 777 out of a total of 1,194 votes. Lam’s campaign slogan was “We Connect”. After the bitter strife over the pace of Hong Kong’s political reform and the “Occupy” movement which paralysed the city for 79 days in late 2014, there were high hopes of a new chief executive who could heal the rift and bring rival factions... https://www.scmp.com/comment/opinion/article/3176722/administration-changed-hong-kong-forever?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3176722/administration-changed-hong-kong-forever?utm_source=rss_feed Sat, 07 May 2022 23:45:16 +0000 The British government’s latest sixth-monthly report on Hong Kong, released at the end of last month, is a twisted and one-sided narrative of events in our city during the second half of 2021. It is an attack on our legitimate law enforcement activities, and our reform of our political, educational, legal aid systems and media policies in the name of upholding rights and freedoms. The actions taken by Beijing and the Hong Kong authorities were chronicled without the slightest reference to the... https://www.scmp.com/comment/opinion/article/3173538/uk-government-reports-hong-kong-are-nothing-self-deluding-charade?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3173538/uk-government-reports-hong-kong-are-nothing-self-deluding-charade?utm_source=rss_feed Sat, 09 Apr 2022 01:15:21 +0000 The highly infectious Omicron was first discovered in South Africa in late 2021 and declared a “virus of concern” by the World Health Organization on November 25. Its spread to other parts of the world, including Hong Kong, was not unanticipated. But the exponential rate at which it has exploded nevertheless caught our city off guard. With a total of more than 350,000 positive cases logged and 1,366 deaths as of March 3, the severity of the situation in Hong Kong has surpassed that of Wuhan and... https://www.scmp.com/comment/opinion/article/3169206/beat-covid-19-hong-kong-must-execute-dynamic-zero-infection?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3169206/beat-covid-19-hong-kong-must-execute-dynamic-zero-infection?utm_source=rss_feed Sun, 06 Mar 2022 00:30:17 +0000 For thousands of years, political philosophers have searched for a model of government best suited for their societies. In Plato’s republic, philosopher-kings are preferred. In the Politics, Aristotle’s treatise on governance, he identifies six forms of government – kingship, tyranny, aristocracy, oligarchy, polity, and democracy. A mixed regime is preferred because none of the six is perfect. In Aristotle’s political world, political distinctions are determined by social classes. Oligarchy is... https://www.scmp.com/comment/opinion/article/3166661/hong-kong-must-wake-its-blind-faith-one-man-one-vote-democracy?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3166661/hong-kong-must-wake-its-blind-faith-one-man-one-vote-democracy?utm_source=rss_feed Sun, 13 Feb 2022 01:45:14 +0000 Hong Kong’s Legislative Council election, held under revamped electoral rules on December 19, was rebuked by the US-led Five Eyes coalition, G7 nations and the European Union as undermining Hong Kong people’s rights and freedoms and depriving the new legislature of “meaningful political opposition”, among other accusations. As if anticipating such criticism, on December 20, China issued its first-ever white paper on Hong Kong’s democratic progress under “one country, two systems”. Beijing argued... https://www.scmp.com/comment/opinion/article/3161663/watch-how-hong-kong-charts-its-own-course-democracy?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3161663/watch-how-hong-kong-charts-its-own-course-democracy?utm_source=rss_feed Sun, 02 Jan 2022 01:15:22 +0000 Chief Executive Carrie Lam Cheng Yuet-ngor’s policy address on October 6, which was by far her most ambitious and visionary, could be her last if she does not win a second term. Will the Northern Metropolis, the centrepiece of her address, help her get a second act? More importantly, will it give Hong Kong a chance to regain its mojo and reinvigorate its growth? Lam’s political future aside, the Northern Metropolis is likely to have a major transformational impact on Hong Kong’s future if... https://www.scmp.com/comment/opinion/article/3152435/northern-metropolis-could-be-hong-kongs-last-chance-not-miss-boat?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3152435/northern-metropolis-could-be-hong-kongs-last-chance-not-miss-boat?utm_source=rss_feed Sun, 17 Oct 2021 01:15:11 +0000 In a week’s time, a new Election Committee will be elected in Hong Kong. It will be the first election held under new rules made by the National People’s Congress Standing Committee on March 30, and a curtain-raiser for two pivotal elections: the Legislative Council poll on December 19, and the chief executive election next March 27. The importance of the Election Committee election cannot be overemphasised. Under the new rules, members of this committee will have the power to nominate and elect... https://www.scmp.com/comment/opinion/article/3148259/how-hong-kong-will-forge-its-own-future-through-new-election?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3148259/how-hong-kong-will-forge-its-own-future-through-new-election?utm_source=rss_feed Sat, 11 Sep 2021 22:45:20 +0000 Hong Kong is well known for its world-leading home prices and land shortage. Yet, augmenting land supply in a big enough way to give people hope about the availability of decent, affordable homes has been a difficult task which has eluded Hong Kong’s most recent chief executives Leung Chun-ying and Carrie Lam Cheng Yuet-ngor. Flash back to 2002, when chief executive Donald Tsang Yam-kuen was preoccupied with precisely the opposite. To shore up the ailing property sector, Tsang suspended land... https://www.scmp.com/comment/opinion/article/3144894/hong-kongs-housing-crisis-driven-lack-political-will-not-land?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3144894/hong-kongs-housing-crisis-driven-lack-political-will-not-land?utm_source=rss_feed Sat, 14 Aug 2021 22:45:10 +0000