https://www.scmp.com/rss/16352/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Competition among Hong Kong’s luxury hotels is heating up as a newcomer enters the fray and hopes to cross swords with two major players even as the city faces a current tourism downturn. Wharf Hotel, the hotel arm of property developer Wharf Holdings, has come on board with a brand it started from scratch, called Niccolo, which already has properties in other cities. The hotel line is now set to compete locally with iconic home-grown brands such as The Peninsula and Mandarin Oriental, according... https://www.scmp.com/news/hong-kong/economy/article/2107975/how-niccolo-brand-plans-take-heavy-hitters-hong-kongs-luxury?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2107975/how-niccolo-brand-plans-take-heavy-hitters-hong-kongs-luxury?utm_source=rss_feed Wed, 23 Aug 2017 09:45:15 +0000 Business considerations are heavily affecting editorial decisions made in the city’s already struggling media industry, which is under pressure to chase profitability for its online news content, according to a new documentary film. Real Time covers the work of online operations staff at three media companies over the past year. Co-directed by Dr Kaman Lee, assistant professor in journalism at Shue Yan University, a former TVB News reporter, and Sin Ho-yin, it follows the work of staff on... https://www.scmp.com/news/hong-kong/economy/article/2107488/documentary-shows-struggle-hong-kong-online-news-providers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2107488/documentary-shows-struggle-hong-kong-online-news-providers?utm_source=rss_feed Sat, 19 Aug 2017 15:12:19 +0000 The co-owner of a Japanese bakery which made headlines after its cookies were bought by Hong Kong leader Carrie Lam Cheng Yuet-ngor is looking at opening a new chain of concept cafes even as the coffee market in the city gets more competitive. But high rents are proving an obstacle for Baniel Cheung Tin-sau, just like when he first opened Ginza West, the baked goods store in Wan Chai, two years ago. The bakery was put in the spotlight earlier this year after Lam made a visit to buy sweet treats... https://www.scmp.com/news/hong-kong/economy/article/2106648/japanese-bakery-ginza-wests-co-owner-brewing-plans-new?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2106648/japanese-bakery-ginza-wests-co-owner-brewing-plans-new?utm_source=rss_feed Mon, 14 Aug 2017 02:31:38 +0000 Hongkongers should be allowed to apply for mainland Chinese government jobs and issued with identity cards from there as part of incentives to build up the “Greater Bay Area”, according to the biggest political party in the Legislative Council. The pro-Beijing Democratic Alliance for the Betterment and Progress of Hong Kong (DAB) also suggested that Hongkongers working in the bay area could be allowed to pay salaries tax in the mainland at the much lower Hong Kong rate. Can China’s ‘Greater Bay... https://www.scmp.com/news/hong-kong/economy/article/2106489/proposals-floated-make-it-easier-hong-kong-people-live-and?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2106489/proposals-floated-make-it-easier-hong-kong-people-live-and?utm_source=rss_feed Fri, 11 Aug 2017 13:00:45 +0000 With its commercial skyscrapers, luxury shops and restaurants lined up along wide and clean thoroughfares, Nanshan could pass off as Central in Hong Kong. Except, Nanshan is across the waters of Shenzhen Bay, opposite the packed residential district of Tin Shui Wai near Yuen Long, and it is one of the world’s biggest technology powerhouses. The hub – a bright spark in the Pearl River Delta (PRD) with its otherwise fading reputation as the “world’s factory” – is seen as the heart of an initiative... https://www.scmp.com/news/hong-kong/economy/article/2106219/can-chinas-greater-bay-area-match-its-new-york-and-san?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2106219/can-chinas-greater-bay-area-match-its-new-york-and-san?utm_source=rss_feed Fri, 11 Aug 2017 00:00:30 +0000 Learning how to make fresh salad and serving dishes as a waiter or waitress are among ways a Hong Kong university trains its hospitality and tourism students to better understand the industry. A unique educational approach and innovating to stay competitive have propelled Polytechnic University’s School of Hotel and Tourism Management atop the world rankings. The school was recently rated No 1 globally by Shanghai Ranking, which assesses universities around the world. It also took the top spot... https://www.scmp.com/news/hong-kong/economy/article/2105592/top-ranked-school-owns-hotel-polyus-real-life-classroom-hong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2105592/top-ranked-school-owns-hotel-polyus-real-life-classroom-hong?utm_source=rss_feed Sun, 06 Aug 2017 07:33:25 +0000 A business leader representing thousands of Hong Kong companies doing business across the border has urged the city to push for suitable roles in planning the Greater Bay Area development, which aims to integrate the city with Macau and nine cities in Guangdong. Jonathan Choi Koon-sum, chairman of the Chinese General Chamber of Commerce in Hong Kong, said the city needed to be proactively involved in the planning process being undertaken by Beijing’s National Development and Planning Commission... https://www.scmp.com/news/hong-kong/economy/article/2104654/hong-kong-must-push-best-roles-greater-bay-area-plan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2104654/hong-kong-must-push-best-roles-greater-bay-area-plan?utm_source=rss_feed Sun, 30 Jul 2017 10:00:30 +0000 One of the world’s largest exhibitions of Chinese ink paintings will be held in Hong Kong on Friday, with an ambitious mission by its curator to redraw the landscape of the Chinese art world and restore the genre to its former glory. The works of renowned painters Wong Wing-yuk, 93, and Chinese culture scholar Professor Jao Tsung-i will be among some 500 pieces on show at Ink Global 2017 at the Convention and Exhibition Centre. It will be the largest display of Chinese ink paintings ever staged... https://www.scmp.com/news/hong-kong/education-community/article/2104640/how-show-hk500m-worth-chinese-ink-paintings-can?utm_source=rss_feed https://www.scmp.com/news/hong-kong/education-community/article/2104640/how-show-hk500m-worth-chinese-ink-paintings-can?utm_source=rss_feed Sun, 30 Jul 2017 07:00:45 +0000 The seven-day Hong Kong Book Fair ended with mixed fortunes for some publishers, after the tropical storm at the weekend caused the event to be closed temporarily and prompted vendors to offer discounts to customers. Despite thousands of people making a last minute rush to the fair in Wan Chai on its final day on Tuesday, overall visitor numbers fell short of the expected target of 1 million – slightly lower than last year, though the exact figures have not been disclosed. According to fair... https://www.scmp.com/news/hong-kong/economy/article/2104078/tropical-storm-puts-dampener-hong-kong-book-fair?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2104078/tropical-storm-puts-dampener-hong-kong-book-fair?utm_source=rss_feed Tue, 25 Jul 2017 14:00:45 +0000 Australia’s trade and business links with Hong Kong could see an expansion, the country’s new top diplomat in the city said, pointing to the policies Chief Executive Carrie Lam Cheng Yuet-ngor was set to launch. Australian Consul General Michaela Browning said in an exclusive interview with the Post that it was Lam who helped to initiate the first ever free trade agreement between the two sides – which is still under negotiation – during her visit to Australia in 2015. Browning, who took office... https://www.scmp.com/news/hong-kong/economy/article/2103773/carrie-lams-policies-may-be-boon-hong-kong-australia-trade?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2103773/carrie-lams-policies-may-be-boon-hong-kong-australia-trade?utm_source=rss_feed Sun, 23 Jul 2017 23:00:45 +0000 The welfare and labour minister said the government would review the previous administration’s decision on overtime wages for the low-paid, but added that the chance to reopen the public discussion in a short period of time is slim. Law Chi-kwong said his department would also look into the issue of some of the city’s poorest having to negotiate terms with their bosses, which unions highlighted as a consequence of the standard working hours policy. Part-timers, carers, domestic helpers focus for... https://www.scmp.com/news/hong-kong/politics/article/2103736/government-will-review-decision-over-overtime-wages-hong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/2103736/government-will-review-decision-over-overtime-wages-hong?utm_source=rss_feed Sat, 22 Jul 2017 12:08:38 +0000 Hong Kong’s economy is growing faster than expected and the government could raise its forecast for the year by half a percentage point from the original 2 to 3 per cent, the city’s finance chief said on Saturday. Financial Secretary Paul Chan Mo-po also said he was considering reallocating some sites originally earmarked for new private-sector homes for subsidised housing instead, as the amount of land supplied for private construction projects this year would be enough to exceed the... https://www.scmp.com/news/hong-kong/economy/article/2103710/hong-kongs-2017-growth-forecast-could-be-revised-half?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2103710/hong-kongs-2017-growth-forecast-could-be-revised-half?utm_source=rss_feed Sat, 22 Jul 2017 05:45:00 +0000 Leaders of Hong Kong’s innovation community have urged more young people to choose science subjects or risk being just “a spectator” in a technology-driven future. They hope to reinforce this at the InnoTech Expo 2017, to be held in two months. “Innovation will bring positive impact to Hong Kong’s economy in the future. The most pressing issue is to develop the next generation of innovation talent,” said Professor Tsui Lap-chee, president of the Hong Kong Academy of Sciences. “[Our research]... https://www.scmp.com/news/hong-kong/economy/article/2103488/study-science-or-risk-being-spectator-technology-driven?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2103488/study-science-or-risk-being-spectator-technology-driven?utm_source=rss_feed Thu, 20 Jul 2017 14:00:15 +0000 The businessman who is buying the city’s top news magazine from pro-democracy publisher Next Digital says he has no plans for the time being to lay off staff in Hong Kong and Taiwan, while the money he will invest in the ­venture is his own and does not come from mainland China. In an exclusive interview with the Post, Kenny Wee Ho also ­insisted he would respect editorial independence, though he would not allow the magazine to be judgmental. Next Digital announced on Monday that it was selling... https://www.scmp.com/news/hong-kong/economy/article/2103170/no-lay-offs-now-new-boss-hong-kongs-next-magazine-insists?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2103170/no-lay-offs-now-new-boss-hong-kongs-next-magazine-insists?utm_source=rss_feed Wed, 19 Jul 2017 00:30:52 +0000 With the retail sector struggling for the past 20 months as mainland tourists shied away from shopping in Hong Kong, the online variety could become a saviour. According to research firm eMarketer, global e-commerce – also known as e-tailing – will exceed US$2.3 trillion this year, making up 10 per cent of total retail sales. That percentage is expected to grow to 14.6 per cent in 2020. Retail sales in Hong Kong grow for first time in two years on upbeat demand, visitor figures But while online... https://www.scmp.com/news/hong-kong/economy/article/2102786/online-shopping-may-be-next-big-hope-depressed-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2102786/online-shopping-may-be-next-big-hope-depressed-hong-kong?utm_source=rss_feed Sat, 15 Jul 2017 10:00:50 +0000 The central government could release a blueprint for it’s Greater Bay Area development in the Pearl River Delta by September, a top official has said. “From my understanding, a proper planning outline will be released before the 19th National Congress of the Communist Party, around September to November,” said Witman Hung, chief liaison officer for Hong Kong for the Shenzhen Quanhai Authority. “The various places submitted their proposals (to the Central government) in June, like Hong Kong,... https://www.scmp.com/news/hong-kong/economy/article/2102721/blueprint-greater-bay-area-development-plan-could-come-soon?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2102721/blueprint-greater-bay-area-development-plan-could-come-soon?utm_source=rss_feed Fri, 14 Jul 2017 13:15:15 +0000 The preferential treatment Hong Kong enjoyed from the mainland would enable the city to play a key role as countries in Southeast Asia took advantage of the “Belt and Road Initiative”, Beijing’s international trade development strategy, Chief Executive Carrie Lam Cheng Yuet-ngor said on Tuesday. The city’s top official signalled Asean’s importance to Hong Kong by arranging for her first overseas visit to take her to the region. The Post earlier reported that Lam’s first foreign trip will be to... https://www.scmp.com/news/hong-kong/economy/article/2102352/hong-kong-courts-asean-countries-belt-and-road-advantages?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2102352/hong-kong-courts-asean-countries-belt-and-road-advantages?utm_source=rss_feed Wed, 12 Jul 2017 07:45:00 +0000 In what is being touted as one of the biggest investments in the “Belt and Road Initiative”, a Hong Kong architect and his firm have won a tender to plan and coordinate the design of an artificial island the size of 20 Victoria Parks off the coast of Manila in the Philippines, the Post has learned. The project, dubbed the City of Pearl, will include futuristic office buildings, residential blocks, leisure facilities like a golf course and marina clubs, a driverless monorail and government... https://www.scmp.com/news/hong-kong/economy/article/2101902/hong-kong-architect-bags-contract-massive-development?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2101902/hong-kong-architect-bags-contract-massive-development?utm_source=rss_feed Sun, 09 Jul 2017 09:15:30 +0000 A cost saving task force set up by the Development Bureau has cut about HK$13 billion from the bill for public works projects in just over a year, the government revealed on Wednesday. In a written response to a question by lawmaker Paul Tse Wai-chun, Development Secretary Michael Wong Wai-lun said the Project Cost Management Office (PCMO) has reviewed the cost estimates of over 60 projects amounting to HK$170 billion and managed to save the administration 7 to 8 per cent, or about HK$13... https://www.scmp.com/news/hong-kong/politics/article/2101468/task-force-shaves-hk13-billion-hong-kong-governments-bill?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/2101468/task-force-shaves-hk13-billion-hong-kong-governments-bill?utm_source=rss_feed Thu, 06 Jul 2017 02:55:10 +0000 Travel is the big topic at this year’s Hong Kong Book Fair, one of the largest of its kind in the world, with organisers offering a mix of travel books and photography, combining some of Hongkongers’ favourite hobbies. Besides featuring well-known travel writers through seminars, photographs, a souvenir exhibition and travelogues, a section of the fair will also be devoted to award-winning photographs from National Geographic, showcasing pictures taken both locally and overseas. But while many... https://www.scmp.com/news/hong-kong/economy/article/2101461/years-hong-kong-book-fair-wants-take-you-places?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2101461/years-hong-kong-book-fair-wants-take-you-places?utm_source=rss_feed Thu, 06 Jul 2017 02:15:00 +0000 The protracted retail downturn in Hong Kong could be a thing of the past as fewer cross-border conflicts encourage mainland shoppers to return and spend more in the city, according to a global accounting and consulting firm. PricewaterhouseCoopers estimated that this year’s retail sales would grow 3-4 per cent to about HK$450 billion and growth would improve further by 6-7 per cent to HK$480 billion next year. Last year’s retail sales totalled about HK$436 billion, the lowest since 2011. Hong... https://www.scmp.com/news/hong-kong/economy/article/2101262/hong-kong-retail-downturn-may-be-thing-past-accounting-giant?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2101262/hong-kong-retail-downturn-may-be-thing-past-accounting-giant?utm_source=rss_feed Tue, 04 Jul 2017 12:15:30 +0000 Hong Kong has no laws to protect airline passengers from being bumped off an overbooked flight, but the head of the city’s consumer watchdog is cautious about pushing for legislation on the matter. Gilly Wong Fung-han, chief executive of the Consumer Council, said setting up legislation on protection or compensation for passengers in such cases was complicated. The process would require collaboration between different markets and across jurisdictions, she said, adding that passengers in Hong... https://www.scmp.com/news/hong-kong/economy/article/2100943/forced-overbooked-flight-hong-kong-settle-it-yourself?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2100943/forced-overbooked-flight-hong-kong-settle-it-yourself?utm_source=rss_feed Sun, 02 Jul 2017 10:14:41 +0000 Innovation and technological developments in Hong Kong will be boosted under an agreement on the Greater Bay Area project signed by local and mainland officials on Saturday and witnessed by Chinese President Xi Jinping. The city will also continue to strengthen its role as the region’s financial and shipping hub, according to the framework agreement. It also provided clarity and assurance to counter uncertainties in recent months on what role Hong Kong will play under the plan and how it will be... https://www.scmp.com/news/hong-kong/politics/article/2100883/technology-boost-reinforce-hong-kongs-status-finance-and?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/2100883/technology-boost-reinforce-hong-kongs-status-finance-and?utm_source=rss_feed Sat, 01 Jul 2017 13:45:45 +0000 During his visit to Hong Kong, Chinese President Xi Jinping will be ferried around in a car that not only looks fit for a head of state, but one which can repel bullets, has a reinforced body, and is the luxury brand of choice for the city’s super-rich. The BMW 7 Series is the prestige offering from the German car maker. Other buyers in the four-wheeled fortress market include Hong Kong’s richest man Li Ka-shing and the Kwok brothers of Sun Hung Kai Properties, all of whom also favour... https://www.scmp.com/news/hong-kong/politics/article/2100752/shields-wheels-luxury-and-bombproof-cars-will-carry-xi?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/2100752/shields-wheels-luxury-and-bombproof-cars-will-carry-xi?utm_source=rss_feed Fri, 30 Jun 2017 09:12:42 +0000 The design of a new five-star hotel at the former Murray Building has involved world-famous architect Norman Foster and the original architect, who is now 90 years old. Close to the Bank of China Tower, the US embassy and Hong Kong Park, the building used to house various government ­departments. Duncan Palmer, managing director of The Murray, the new hotel, said it was important to ­engage the original architect, Ron Philips, who designed the building in the late 1960s for the colonial... https://www.scmp.com/news/hong-kong/economy/article/2099895/top-world-architect-and-original-designer-involved-hotel?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2099895/top-world-architect-and-original-designer-involved-hotel?utm_source=rss_feed Mon, 26 Jun 2017 01:02:44 +0000 A pro-Beijing lawmaker who will join Hong Kong’s next Executive Council on July 1 has questioned whether the outgoing city leader’s proposal to scrap a pension offsetting mechanism will actually be ­implemented under the new administration. “We don’t know what the incoming government will think at this moment,” Wong Kwok-kin of the Hong Kong Federation of Trade Unions said on a RTHK radio programme on Saturday morning. He noted incoming leader Carrie Lam Cheng Yuet-ngor had earlier said she... https://www.scmp.com/news/hong-kong/education-community/article/2099829/lawmaker-questions-timing-pension-proposal-and?utm_source=rss_feed https://www.scmp.com/news/hong-kong/education-community/article/2099829/lawmaker-questions-timing-pension-proposal-and?utm_source=rss_feed Sat, 24 Jun 2017 10:38:45 +0000 The Trade Development Council (TDC) is expanding beyond its promotional role to form consortiums with firms in Hong Kong and overseas hoping to cash in on mainland China’s ambitious “Belt and Road Initiative”. Chairman Vincent Lo Hong-shui said he was planning to “re-prioritise” resources and expand the structure of the council – which in its 50-year history has primarily organised exhibitions, conferences and trade missions – to “facilitate” companies wishing to invest in nations involved in... https://www.scmp.com/news/hong-kong/economy/article/2099767/hong-kong-trade-promoter-form-consortiums-firms-looking-belt?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2099767/hong-kong-trade-promoter-form-consortiums-firms-looking-belt?utm_source=rss_feed Fri, 23 Jun 2017 13:58:51 +0000 Business leaders and experts at a high-powered economic seminar have called for preferential policies and other incentives to create a world-class technology hub through the ambitious Greater Bay Area project to integrate Hong Kong, Macau and nine cities in Guangdong province. Pony Ma Huateng, founder and chairman of Chinese internet giant Tencent, urged mainland authorities to attract entrepreneurs by easing tax rules for people working in the planned global innovation hub. Hong Kong leader... https://www.scmp.com/news/hong-kong/economy/article/2099233/incentives-needed-drive-greater-bay-area-plan-tencent?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2099233/incentives-needed-drive-greater-bay-area-plan-tencent?utm_source=rss_feed Tue, 20 Jun 2017 15:30:15 +0000 The Consumer Council’s chief executive has expressed her vision to turn the organisation digital by making use of technology to provide better information and protection to consumers, while doing more to educate the public about sustainable consumption. “What we want to achieve is that when consumers go shopping, they will take out their smartphones and search for test results conducted by the council on that particular product they may want to get,” Gilly Wong Fung-han said. “We already have... https://www.scmp.com/news/hong-kong/economy/article/2098899/hong-kong-consumer-council-wants-go-digital-green-focus?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2098899/hong-kong-consumer-council-wants-go-digital-green-focus?utm_source=rss_feed Sun, 18 Jun 2017 15:30:18 +0000 The Consumer Council is ­considering whether legislation is needed to govern how people can seek refunds for goods and ­services they are not satisfied with. The watchdog is preparing a research report for ­publication later this year. The council’s chief executive, Gilly Wong Fung-han, told the Post that the report would take into account cooling-off periods in other countries to determine what was suitable for the city and would propose exemptions for certain businesses. Hong Kong Consumer... https://www.scmp.com/news/hong-kong/economy/article/2098893/hong-kong-watchdog-considers-new-law-product-and-service?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2098893/hong-kong-watchdog-considers-new-law-product-and-service?utm_source=rss_feed Sun, 18 Jun 2017 15:15:15 +0000 On a chilly Valentine's Day morning last year, graphic designer Edward Tin Chun-fook studied the weather forecast in great detail before lugging his camera up the 335m Tsing Yi Peak in pursuit of sea fog. The 56-year-old part-time photographer was not disappointed. The Stonecutters Bridge stretched out before his eyes, hugged by a string of barges anchored in the early spring mist. Tin swiftly captured the moment in a picture he named The Fog and Mist in Hong Kong, which was later picked as one... https://www.scmp.com/news/hong-kong/education-community/article/2098387/how-amateur-hong-kong-photographer-wowed-editors?utm_source=rss_feed https://www.scmp.com/news/hong-kong/education-community/article/2098387/how-amateur-hong-kong-photographer-wowed-editors?utm_source=rss_feed Thu, 15 Jun 2017 02:02:34 +0000 Hong Kong officials have admitted poor locations are a major problem for their embattled food truck pilot scheme, but are claiming they have already introduced “refinement measures” with more designated areas. Secretary for Commerce and Economic Development Greg So Kam-leung told the Legislative Council on Wednesday the business performance at some locations such as Central Harbourfront and Ocean Park were “less satisfactory”, while Disneyland was the best performing. The 14 food trucks, which... https://www.scmp.com/news/hong-kong/economy/article/2098356/hong-kong-food-truck-problems-due-poor-locations-commerce?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2098356/hong-kong-food-truck-problems-due-poor-locations-commerce?utm_source=rss_feed Wed, 14 Jun 2017 13:15:30 +0000 Hong Kong will host its first ever e-sports and music festival this summer, a three-day event featuring international players competing in the world’s most popular video game, League of Legends, and top K-pop stars in concert. The event, organised by the Hong Kong Tourism Board in an effort to attract younger visitors amid flagging arrival figures, will take place from August 4 to 6 at Central Harbourfront. Board chairman Peter Lam Kin-ngok said e-sports were gaining popularity around the world,... https://www.scmp.com/news/hong-kong/economy/article/2097949/hong-kongs-first-ever-e-sports-and-music-festival-feature?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2097949/hong-kongs-first-ever-e-sports-and-music-festival-feature?utm_source=rss_feed Mon, 12 Jun 2017 07:49:46 +0000 It is many an entrepreneur’s dream to raise the first million dollars, then move beyond Hong Kong to conquer other markets. But to do that, a good concept is not enough, because even the best idea requires large amounts of blood and sweat as well as a never-say-die attitude, as one start-up founder put it. “It doesn’t matter if a hundred people reject you, what matters is that [at least] one person believes in your vision,” said Shing Chow, co-founder and CEO of Lalamove, an online vehicle... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2097850/charting-road-success-beyond-hong-kong-delivery?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2097850/charting-road-success-beyond-hong-kong-delivery?utm_source=rss_feed Mon, 12 Jun 2017 00:01:20 +0000 In a coordinated effort to promote China’s global trade strategy, Hong Kong’s leader has rejected scepticism that the plan is abstract and pointed to success stories involving city residents and firms. Chief Executive Leung Chun-ying gave his remarks at a Belt and Road Initiative forum webcast to local schools and co-organised by the Commerce and Economic Development Bureau, the Development Bureau, the Education Bureau, the Home Affairs Bureau, and the Belt and Road office. Visual explainer of... https://www.scmp.com/news/hong-kong/economy/article/2097355/hong-kong-leader-cy-leung-brushes-aside-belt-and-road?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2097355/hong-kong-leader-cy-leung-brushes-aside-belt-and-road?utm_source=rss_feed Wed, 07 Jun 2017 14:11:50 +0000 Hong Kong’s top financial officials on Monday issued their strongest warning yet to homebuyers about escalating risks in the “exuberant” market, revealing that prices were now nearly 90 per cent above their peak in 1997. Principal government economist Helen Chan told a Legislative Council meeting that if currently low interest rates went back to a “normal level” – which would mean a 3 per cent rise – home owners would have to set aside 86 per cent of their monthly income for mortgage... https://www.scmp.com/news/hong-kong/economy/article/2096919/high-risks-ahead-hong-kongs-exuberant-property-market-finance?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2096919/high-risks-ahead-hong-kongs-exuberant-property-market-finance?utm_source=rss_feed Mon, 05 Jun 2017 06:21:45 +0000 Hong Kong Exchanges and Clearing (HKEX) will launch the consultation for a third board that caters to start-ups and technology firms that do not qualify for listings on the main board and the Growth Enterprise Market as early as in two weeks’ time , said its Charles Li, chief executive on Friday. Li said the new so called “Third Board” would cover companies that are pre-profit and even pre-revenue, such as some biotechnology companies that had just “one discovery or one patent”. He used the... https://www.scmp.com/business/companies/article/2096686/hkex-launch-third-board-consultation-two-weeks?utm_source=rss_feed https://www.scmp.com/business/companies/article/2096686/hkex-launch-third-board-consultation-two-weeks?utm_source=rss_feed Fri, 02 Jun 2017 09:54:01 +0000 A Polytechnic University invention featuring nano-coated glass that can block 40 per cent of the heat from sunlight and save costs on air conditioning is one of three projects from the institution to have won an international award, in a first for Hong Kong. The university is seeking to commercialise the product following the recognition it received at the 2017 TechConnect Global Innovation Awards in Washington, along with other winners including Nasa and the University of California. This is... https://www.scmp.com/news/hong-kong/education-community/article/2096012/hong-kong-window-coating-technology-shielding?utm_source=rss_feed https://www.scmp.com/news/hong-kong/education-community/article/2096012/hong-kong-window-coating-technology-shielding?utm_source=rss_feed Sun, 28 May 2017 13:12:44 +0000 The government’s study on building homes in country parks is biased because the Housing Society is conducting it, according to a former senior official. Wong Fook-yee, who was assistant director at the Agriculture, Fisheries and Conservation Department, also said there were other sites the city should consider first, “including those belonging to private companies”. Legal barrier looms over plan to build on edges of country parks As was proposed in the chief executive’s last policy address, the... https://www.scmp.com/news/hong-kong/health-environment/article/2095821/hong-kong-governments-review-building-houses?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/2095821/hong-kong-governments-review-building-houses?utm_source=rss_feed Fri, 26 May 2017 07:09:10 +0000 Lawmakers across the political spectrum have challenged the effectiveness of the government’s revised proposal to increase penalties for illegal parking, citing issues such as insufficient parking space and lacklustre enforcement. None of the lawmakers attending the Legislative Council subcommittee meeting on Tuesday appeared to support the revised increase in fixed penalties for illegal parking and related offences. This was despite the government halving the 50 per cent hike originally... https://www.scmp.com/news/hong-kong/law-crime/article/2095344/plan-halve-increase-parking-fines-fails-convince-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-crime/article/2095344/plan-halve-increase-parking-fines-fails-convince-hong-kong?utm_source=rss_feed Tue, 23 May 2017 06:45:00 +0000 Tourism stakeholders in Hong Kong have urged the government to place innovation and creativity at the fore of revamping A Symphony of Lights, the nightly laser show involving skyscrapers on both sides of Victoria Harbour, as visitor numbers are falling. Launched in 2004 and described by the Guinness World Records as the largest permanent light and sound show on the planet, the attraction peaked at 1.8 million attendees in 2011. But the wow factor and crowds have since declined. The Hong Kong... https://www.scmp.com/news/hong-kong/economy/article/2095123/hong-kong-tourism-stakeholders-urge-light-show-improvement?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2095123/hong-kong-tourism-stakeholders-urge-light-show-improvement?utm_source=rss_feed Mon, 22 May 2017 00:04:07 +0000 Hong Kong began negotiations with Australia for the first ever free trade agreement between the two sides on Tuesday. Representatives were keen to appear amicable as Australian Minister for Trade Steven Ciobo was joined by Greg So Kam-leung, secretary for commerce and economic development, while launching the trade talks at the China Club. Australia wants Hong Kong to guarantee the city will maintain its current zero tariff treatment for Australian goods, while Hong Kong wants Australia to... https://www.scmp.com/news/hong-kong/economy/article/2094541/hong-kong-talks-australia-first-free-trade-deal?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2094541/hong-kong-talks-australia-first-free-trade-deal?utm_source=rss_feed Tue, 16 May 2017 10:39:35 +0000 Toys containing soap bubbles could harbour micro-organisms that are harmful to children, the Consumer Council warned parents on Monday. It tested 12 toys selected at random and found the total microbial count was relatively high in two models, one of which contained a pathogen that could cause illness. Children who played with such toys and then touched their the eyes or ate without first washing their hands might suffer a bacterial infection with symptoms such as red eyes, conjunctivitis, a... https://www.scmp.com/news/hong-kong/health-environment/article/2094437/beware-soap-bubble-toys-hong-kong-parents-warned?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/2094437/beware-soap-bubble-toys-hong-kong-parents-warned?utm_source=rss_feed Mon, 15 May 2017 12:57:21 +0000 The Hong Kong Consumer Council has warned of the increasing risks of online shopping, and advised users not to assume that websites with a URL address ending with “.hk” are based in the city. This comes after the council handled cases in which such website operators could not be contacted or tracked despite having a local number or address. Professor Wong Kam-fai, chairman of the research and testing committee under the council, said: “Consumers should browse the merchant website to seek more... https://www.scmp.com/news/hong-kong/economy/article/2094434/hong-kong-consumer-watchdog-warns-online-shoppers-discrepancy?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2094434/hong-kong-consumer-watchdog-warns-online-shoppers-discrepancy?utm_source=rss_feed Mon, 15 May 2017 12:36:01 +0000 A third player in Hong Kong’s free-to-air television market will launch on Sunday, but amid the changing media landscape for broadcasters, the battleground remains on the internet, industry insiders say. Fantastic TV – which is operated by i-Cable Communications – will be a new Cantonese station on channel 77 offering 24 hours of family entertainment programmes in both high definition and analogue formats. However, unlike rivals TVB and ViuTV which have mobile apps and millions of registered... https://www.scmp.com/news/hong-kong/economy/article/2094219/fantastic-tv-set-be-third-free-air-player-hong-kong-market?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2094219/fantastic-tv-set-be-third-free-air-player-hong-kong-market?utm_source=rss_feed Sat, 13 May 2017 11:00:42 +0000 The Legislative Council on Friday approved the government to invest HK$6 billion in the Beijing-led Asia Infrastructure Investment Bank (AIIB.) The Finance Committee’s approval came a week later than expected, after fierce debate over the funding commitment caused last week’s meeting to go on for seven hours, and there was no vote. This time, however, it was passed with 36 votes in favour and 10 against. Hong Kong has been accepted as a member of the AIIB, but must also spend HK$6 billion over... https://www.scmp.com/news/hong-kong/economy/article/2094164/green-light-given-hong-kong-spend-hk6-billion-over-five-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2094164/green-light-given-hong-kong-spend-hk6-billion-over-five-years?utm_source=rss_feed Fri, 12 May 2017 12:51:15 +0000 Hong Kong authorities are considering criminal sanctions for the first time among several options in a public consultation exercise on tackling a long-running nuisance – rampant cold calling by telemarketers. The options offered on Thursday by the Commerce and Economic Development Bureau included self-regulation by telemarketing firms, call-filter applications for smartphones, and a do-not-call register, considered the strongest of the measures. Officials said telemarketers could be subject to... https://www.scmp.com/news/hong-kong/economy/article/2094008/hong-kongs-nuisance-cold-callers-could-be-branded-criminals?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2094008/hong-kongs-nuisance-cold-callers-could-be-branded-criminals?utm_source=rss_feed Thu, 11 May 2017 15:15:00 +0000 Political and foreign exchange risks are among the top challenges pioneering Hong Kong investors have faced in markets along China’s ambitious trade strategy, but opportunities exist such as undervalued assets and growing consumption markets, according to businessmen familiar with those countries. Touted by President Xi Jinping, the “Belt and Road Initiative” aims to open up trade via two corridors: the land-based Silk Road economic belt in the north, and the maritime Silk Road in the... https://www.scmp.com/news/hong-kong/economy/article/2093636/pioneering-hong-kong-investors-belt-and-road-markets-describe?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2093636/pioneering-hong-kong-investors-belt-and-road-markets-describe?utm_source=rss_feed Wed, 10 May 2017 00:01:31 +0000 Hong Kong businesses are looking to exploit opportunities along the “belt and road” corridor following the city’s inclusion in March as a member of a key China-led investment bank funding projects along Asia’s new Silk Road trading route. The Asian Infrastructure Investment Bank, headquartered in Beijing, is part of the country’s global trade development strategy aiming to support infrastructure development costing an estimated HK$310 trillion (US$40 trillion) across Asia until 2030, mainly in... https://www.scmp.com/news/hong-kong/economy/article/2093413/hitting-road-hong-kong-businesses-gear-opportunities-along?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2093413/hitting-road-hong-kong-businesses-gear-opportunities-along?utm_source=rss_feed Tue, 09 May 2017 00:03:26 +0000 Hongkongers are among the top tourists renting expensive water villas in the Maldives, according to the head of the luxury resort that offers the sea-based holiday homes. According to travel website TripAdvisor, the villas cost about HK$26,000 per day to rent. Sonu Shivdasani, CEO and chairman of Soneva, which owns the Sovena Jani resort, said: “Clients from Hong Kong and China account for about 20 per cent of people using the water villas, making them the largest group among any nationals.” The... https://www.scmp.com/news/hong-kong/economy/article/2093260/hongkongers-among-largest-group-tourists-renting-water-villas?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2093260/hongkongers-among-largest-group-tourists-renting-water-villas?utm_source=rss_feed Sat, 06 May 2017 11:18:13 +0000