https://www.scmp.com/rss/318210/feed Hong Kong economy news including annual budget, MPF pensions, retail and transport. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren,Enoch Yiu Daniel Ren,Enoch Yiu The Hong Kong Monetary Authority (HKMA) is being urged to go further in loosening restrictions on stablecoins, after granting the city’s first two licences to banks to issue the digital currency. Bankers, venture capitalists and analysts said the long-awaited approvals – awarded to HSBC and a joint venture led by Standard Chartered – fell short of market expectations, underscoring the regulator’s cautious stance amid lingering risk concerns. “It came as a surprise that only two licences were... https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349742/hong-kong-regulator-urged-expand-stablecoin-rules-after-cautious-roll-out?utm_source=rss_feed Sat, 11 Apr 2026 09:10:21 +0000 Enoch Yiu Enoch Yiu Fang Liu, a partner at global law firm Clifford Chance, counts among his clients many technology companies that are keen to list in Hong Kong, but find the current requirements cumbersome. Clifford Chance has helped more than a dozen innovative companies raise funds under the new listing regime since 2018, when Hong Kong Exchanges and Clearing (HKEX) introduced reforms for pre-revenue biotech firms and companies with weighted voting rights (WVR), where one class of shareholders carries more... https://www.scmp.com/business/markets/article/3349647/hong-kongs-listing-reform-20-can-it-outshine-global-rivals-innovative-firms?utm_source=rss_feed https://www.scmp.com/business/markets/article/3349647/hong-kongs-listing-reform-20-can-it-outshine-global-rivals-innovative-firms?utm_source=rss_feed Sat, 11 Apr 2026 03:00:12 +0000 Ng Kang-chung,Lam Ka-sing Ng Kang-chung,Lam Ka-sing Hong Kong will directly pay diesel subsidies to local oil companies based on sales volume after lawmakers approved a massive HK$1.8 billion government scheme to ease rocketing fuel prices for the transport sector over the next two months. The city’s environment minister maintained that a mechanism would be in place so the government could “know” and “monitor” if the oil companies tried to abuse the scheme by increasing prices, but did not say how. Senior government officials briefed lawmakers at... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349614/hong-kong-government-must-guard-against-exploitation-diesel-subsidy-experts-warn?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349614/hong-kong-government-must-guard-against-exploitation-diesel-subsidy-experts-warn?utm_source=rss_feed Fri, 10 Apr 2026 05:16:09 +0000 Lam Ka-sing Lam Ka-sing Hong Kong bus company boss Martin Lau feels overwhelmed as he attempts every option possible to minimise mounting losses wrought by runaway fuel prices. He has done everything he can think of, from trying to reduce services to doing his own repairs on his fleet of more than 20 coaches. Lau, managing director of ABC Touring Car Company, told the South China Morning Post that he and his team had no choice for now but to absorb the losses as there was no help he could access. “The reality is cruel,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349564/oil-crisis-just-start-economic-pain-hongkongers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349564/oil-crisis-just-start-economic-pain-hongkongers?utm_source=rss_feed Fri, 10 Apr 2026 00:30:09 +0000 Matthew Cheng Matthew Cheng A proposed increase in the Hong Kong government’s borrowing cap for its bond programmes to HK$900 billion (US$115 billion) will be sufficient to finance infrastructure projects over the next three years, officials have said, while leaving the door open to further rises in the long run if needed. Andrew Lai Chi-wah, permanent secretary for financial services and the treasury, made the remarks on Thursday during a Legislative Council subcommittee meeting scrutinising the plan to lift the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349561/hong-kong-seeks-raise-bond-issuance-ceiling-hk900-billion?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349561/hong-kong-seeks-raise-bond-issuance-ceiling-hk900-billion?utm_source=rss_feed Thu, 09 Apr 2026 15:22:46 +0000 Emily Hung Emily Hung Former Hong Kong leader Leung Chun-ying has launched a traditional Chinese medicine (TCM) trading platform aimed at connecting mainland Chinese manufacturers with international markets by leveraging the city’s testing and certification systems. Leung, also a vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference, said on Thursday that the platform, an independent third party, aimed to promote the centralisation, standardisation, marketisation and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349546/ex-hong-kong-leaders-chinese-medicine-platform-link-mainland-and-global-markets?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349546/ex-hong-kong-leaders-chinese-medicine-platform-link-mainland-and-global-markets?utm_source=rss_feed Thu, 09 Apr 2026 11:58:14 +0000 Oscar Liu Oscar Liu Japanese band One OK Rock has abruptly cancelled the Hong Kong leg of its Asian tour in early May due to “unforeseen circumstances”, leaving local fans disappointed. The announcement on Thursday followed a similar move in early March, when the band cancelled its May 9 concert in Shanghai. Led by frontman Taka, the band, which has 3 million Instagram followers, was originally slated to perform at the Central Harbourfront Event Space on May 2 and 3 as part of its “Detox” Asia Tour 2026. “This... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349517/japanese-band-one-ok-rock-cancels-hong-kong-concerts-may-no-specific-reason-given?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349517/japanese-band-one-ok-rock-cancels-hong-kong-concerts-may-no-specific-reason-given?utm_source=rss_feed Thu, 09 Apr 2026 09:01:09 +0000 Leopold Chen,Ambrose Li,Olga Wong Leopold Chen,Ambrose Li,Olga Wong The Hong Kong government has proposed short-term measures including diesel subsidies of HK$3 per litre and reduced tunnel tolls to ease pressure on the commercial transport sector, which is grappling with soaring fuel prices. Confirming an earlier South China Morning Post report, the government said on Thursday night that a recently formed task force monitoring fuel price movements had floated four temporary measures prioritising diesel-powered commercial vehicles and vessels, and ferries. The... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349450/hong-kong-roll-out-relief-measures-transport-sector-fuel-costs-soar?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349450/hong-kong-roll-out-relief-measures-transport-sector-fuel-costs-soar?utm_source=rss_feed Thu, 09 Apr 2026 02:57:21 +0000 Matteo Giovannini Matteo Giovannini Hong Kong’s identity as a world-leading international hub has never been static. It has been built over time through openness, adaptability and, crucially, diversity. Recent discussions about the city’s talent strategy, including concerns that the overwhelming majority of applicants under key admission schemes come from mainland China, raise a deeper structural question: can Hong Kong remain truly global if its talent pipeline becomes increasingly concentrated? This is not about downplaying the... https://www.scmp.com/opinion/hong-kong-opinion/article/3349169/hong-kongs-global-future-depends-diverse-talent?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3349169/hong-kongs-global-future-depends-diverse-talent?utm_source=rss_feed Thu, 09 Apr 2026 01:30:08 +0000 Fiona Sun Fiona Sun A two-week ceasefire between the United States and Iran is unlikely to significantly ease fuel prices in the near term without a complete end to the conflict, Hong Kong economists have warned, citing uncertainties in the volatile situation. Economist Simon Lee Siu-po of the Chinese University of Hong Kong’s Shenzhen Finance Institute said that uncertainties remained, adding that fuel prices were still subject to volatility unless a permanent ceasefire was achieved. “There are lots of variables –... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349407/us-iran-ceasefire-unlikely-cause-major-fuel-price-drop-hong-kong-economists?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349407/us-iran-ceasefire-unlikely-cause-major-fuel-price-drop-hong-kong-economists?utm_source=rss_feed Thu, 09 Apr 2026 00:30:15 +0000 Theodora Yu Theodora Yu Cinema box office takings in Hong Kong over the first four days of the Easter break more than doubled year on year, reaching HK$25.93 million (US$3.31 million) compared with HK$12.75 million over the same period in 2025, despite a holiday exodus. According to the Immigration Department, residents made around 2.13 million outbound and 1.81 million inbound trips between Good Friday and Monday, resulting in a net outflow of 319,173. For the five-day break to Tuesday, Hongkongers made 2.56 million... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349404/easter-box-office-takings-twice-2025-break-despite-exodus-hongkongers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349404/easter-box-office-takings-twice-2025-break-despite-exodus-hongkongers?utm_source=rss_feed Wed, 08 Apr 2026 11:06:01 +0000 Oscar Liu Oscar Liu Nearly a quarter of Hong Kong companies are expected to widely adopt AI this year, a threefold increase from a year ago, while a growing number of business leaders believe the technology will result in smaller headcounts, a survey has revealed. Professional services firm KPMG released the Hong Kong Employment Outlook 2026 on Wednesday, with the poll showing that 24 per cent of organisations were set to widely adopt artificial intelligence (AI), up from just 8 per cent in the previous... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349370/24-hong-kong-firms-widely-adopt-ai-smaller-headcounts-expected-kpmg?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349370/24-hong-kong-firms-widely-adopt-ai-smaller-headcounts-expected-kpmg?utm_source=rss_feed Wed, 08 Apr 2026 08:20:39 +0000 Oscar Liu Oscar Liu Up to 80 per cent of Hong Kong’s fishing vessels have suspended operations nearly a month ahead of a planned moratorium, according to a sector representative, as the doubling of “red oil” prices caused by the war in the Middle East has made going out to sea untenable for operators. Representatives for the local transport and maritime sectors welcomed the two-week ceasefire announced by the United States and Iran and the subsequent reopening of the Strait of Hormuz, but called for targeted,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349339/80-hong-kong-fishing-vessels-grounded-moratorium-due-high-fuel-prices?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349339/80-hong-kong-fishing-vessels-grounded-moratorium-due-high-fuel-prices?utm_source=rss_feed Wed, 08 Apr 2026 05:47:16 +0000 Vivian Au Vivian Au Hong Kong authorities will set up a company this year to accelerate the development of an innovation hub near the border, with firms already expressing interest in moving into the San Tin Technopole, a senior tech official has said. Permanent Secretary for Innovation, Technology and Industry Kevin Choi Kit-ming also told the South China Morning Post that some companies might soon be able to transfer data and biological samples across the border once tailor-made measures were introduced later... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349306/hong-kong-set-company-year-fast-track-san-tin-tech-hub-firms-eye-move?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349306/hong-kong-set-company-year-fast-track-san-tin-tech-hub-firms-eye-move?utm_source=rss_feed Wed, 08 Apr 2026 02:00:21 +0000 Oscar Liu Oscar Liu A new research institute in Hong Kong is set to ramp up efforts to develop “AI for all” as early as this month, mapping out a strategy to strengthen the government’s capabilities while ensuring all residents and sectors benefit from the technology, a senior official has said. Permanent Secretary for Innovation, Technology and Industry Kevin Choi Kit-ming said one of the priorities of the Hong Kong Artificial Intelligence Research and Development Institute would be to integrate a locally... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349304/new-research-institute-ramp-efforts-hong-kong-pursues-ai-all?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349304/new-research-institute-ramp-efforts-hong-kong-pursues-ai-all?utm_source=rss_feed Wed, 08 Apr 2026 00:30:09 +0000 Ambrose Li Ambrose Li Mud and rainy weather caused chaos and frustration at a high-profile open-air coffee festival in Hong Kong’s West Kowloon Cultural District over the Easter weekend, with the arts hub’s managing authority urging the organiser to take timely and appropriate measures to respond to vendors. The weather put a dampener on the four-day 2026 Coffee Hong Kong @WestK, which was held at the Great Lawn of the district’s Art Park. Some festival visitors were seen wearing shoe covers as they walked over the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349293/backlash-brews-hong-kong-coffee-festival-over-response-bad-weather?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349293/backlash-brews-hong-kong-coffee-festival-over-response-bad-weather?utm_source=rss_feed Tue, 07 Apr 2026 13:10:38 +0000 Winston Mok Winston Mok The Strait of Hormuz blockage is being felt far and wide. While the world struggles with higher pump prices, key energy exporters such as the United Arab Emirates (UAE) and Qatar face severe economic setbacks. In Gulf states serving as air hubs, expats and affluent locals are scrambling for the exit. The discovery of oil transformed Arabian deserts into rich petro-states. Knowing this wealth would not flow forever, the states leveraged their strategic locations to become air traffic hubs.... https://www.scmp.com/opinion/world-opinion/article/3349044/gulf-states-geography-both-generous-and-treacherous-patron?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3349044/gulf-states-geography-both-generous-and-treacherous-patron?utm_source=rss_feed Tue, 07 Apr 2026 08:30:07 +0000 Oscar Liu Oscar Liu A world-class fencing hall and stand-alone swimming pool complex will be built in Hong Kong’s Northern Metropolis megaproject, authorities have revealed, with experts saying the facilities must be supported by good transport links and services for elite athletes. Sports industry experts shared their views on Tuesday after the Leisure and Cultural Services Department revised its plans to instead build the swimming pool as a stand-alone facility to meet international specifications, while... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349230/separate-fencing-hall-and-pool-revised-northern-metropolis-sports-facilities-plan?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349230/separate-fencing-hall-and-pool-revised-northern-metropolis-sports-facilities-plan?utm_source=rss_feed Tue, 07 Apr 2026 05:55:05 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers flocked to the second round of new flat sales at the La Mirabelle I project in Tseung Kwan O on Tuesday, underscoring continuing demand for property amid escalating tensions in the Middle East. Of the 168 units offered via a price list, 152 had been sold as of 6.40pm, according to Sino Land. A further 86 flats were made available by tender. Sino is one of the project’s co-developers. The launch generated more than HK$1.1 billion (US$140 million) in revenue, the developer... https://www.scmp.com/business/article/3349223/hong-kong-property-launch-sees-brisk-sales-buyers-unfazed-trumps-iran-warning?utm_source=rss_feed https://www.scmp.com/business/article/3349223/hong-kong-property-launch-sees-brisk-sales-buyers-unfazed-trumps-iran-warning?utm_source=rss_feed Tue, 07 Apr 2026 05:26:19 +0000 Theodora Yu Theodora Yu Residents made more than 2 million outbound passenger trips over the first four days of the Easter break, while the number of motorists using the city’s border checkpoint for the Hong Kong-Zhuhai-Macau Bridge hit a single-day record on Monday. Immigration Department figures published on Tuesday showed that the number of outgoing Hong Kong residents rose by 14.34 per cent year on year to 2.12 million over the period. This year’s Easter holiday runs from Friday to Tuesday, while the break in 2025... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349222/slump-fb-sector-over-easter-break-28-hongkongers-leave-city?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349222/slump-fb-sector-over-easter-break-28-hongkongers-leave-city?utm_source=rss_feed Tue, 07 Apr 2026 04:55:06 +0000 Julie Zhang Julie Zhang US dollar-denominated funds could face more hurdles when investing in Chinese tech and biotech companies as Beijing adopts a stricter approach to companies seeking listings via offshore incorporated vehicles. Indicative of Chinese regulators’ caution in overseeing sensitive industries, industry sources say the move ensures that any sale of assets does not escape regulatory scrutiny. And for any offshore incorporated structures that are approved, the stock regulator requires listing applicants to... https://www.scmp.com/business/banking-finance/article/3349166/stricter-chinese-scrutiny-offshore-vehicles-blow-tech-and-biotech-ipo-candidates?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3349166/stricter-chinese-scrutiny-offshore-vehicles-blow-tech-and-biotech-ipo-candidates?utm_source=rss_feed Tue, 07 Apr 2026 00:00:09 +0000 Oscar Liu Oscar Liu Hong Kong restaurants suffered a 6 to 7 per cent revenue drop over the Easter weekend, an industry source said, as gains from a 15 per cent rise in mainland Chinese tourists failed to offset business lost to 1.7 million departing locals. Industry leaders also said on Monday that the trend of locals travelling across the border and abroad during long weekends had become the “new normal”, leaving businesses to rely on mega-events and the coming Labour Day “golden week” to recover their... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349162/hong-kong-restaurant-revenues-drop-over-easter-break-departures-outnumber-arrivals?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349162/hong-kong-restaurant-revenues-drop-over-easter-break-departures-outnumber-arrivals?utm_source=rss_feed Mon, 06 Apr 2026 11:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developers are raising prices of new homes this week following sold-out launches in recent days, further testing the appetite of homebuyers amid geopolitical and interest rate uncertainties. Henderson Land Development put another 39 units at its Chester project in Hung Hom on sale on Monday, with 25 homes finding buyers, according to agents. With an average discounted price of HK$22,198 (US$2,831) per square foot, the units were priced 4.57 per cent higher than the 123 units that sold... https://www.scmp.com/business/article/3349172/hong-kong-developers-test-homebuyers-modest-price-increases-after-sell-outs?utm_source=rss_feed https://www.scmp.com/business/article/3349172/hong-kong-developers-test-homebuyers-modest-price-increases-after-sell-outs?utm_source=rss_feed Mon, 06 Apr 2026 10:30:44 +0000 Enoch Yiu Enoch Yiu Hong Kong’s Mandatory Provident Fund (MPF) is poised to report a loss of over HK$100 billion (US$12.8 billion) for March this week, its worst monthly loss in dollar terms since its inception 25 years ago. The sharp fall in global stock markets last month hit the MPF hard, while the uncertainties ahead stemming from the Middle East conflict have led the pension regulator and analysts to urge the 4.8 million members to adopt a diversified approach. The 378 MPF investment funds suffered a HK$103.3... https://www.scmp.com/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed https://www.scmp.com/business/markets/article/3348982/hong-kongs-mpf-set-report-worst-performance-3-years-march?utm_source=rss_feed Mon, 06 Apr 2026 05:00:08 +0000 Mike Rowse Mike Rowse The HK$2 (US$0.26) transport fare scheme for the elderly is one of Hong Kong’s most socially significant success stories. But some of the recent changes, and further ones contemplated, seem to be rowing in a different direction. We need to pause and take stock before we inadvertently undo some of our good work. In the process, we should also take the chance to ensure the long-term affordability of the scheme. The subsidy scheme was introduced in 2012 after an announcement in the 2011 policy... https://www.scmp.com/opinion/hong-kong-opinion/article/3348958/hong-kong-must-not-undo-good-work-its-hk2-transport-scheme?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3348958/hong-kong-must-not-undo-good-work-its-hk2-transport-scheme?utm_source=rss_feed Sun, 05 Apr 2026 12:30:09 +0000 Danny Mok Danny Mok Hong Kong’s MTR Corporation extended the time needed for its in-town check-in service to 120 minutes from 90 minutes on Sunday evening, after a signalling equipment malfunction disrupted travel on the Airport Express and Tung Chung lines The rail operator said at 7.10pm that a signalling fault near a depot at Siu Ho Wan on Lantau Island had affected MTR train services on both lines and caused delays of about eight to 10 minutes. It added that engineers were working to repair the fault. At around... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349091/signal-fault-disrupts-hong-kong-mtrs-airport-express-tung-chung-line-services?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349091/signal-fault-disrupts-hong-kong-mtrs-airport-express-tung-chung-line-services?utm_source=rss_feed Sun, 05 Apr 2026 12:12:43 +0000 Oscar Liu Oscar Liu Hong Kong has swapped the Easter bunny for a festive feline, with giant cat installations and murals delighting visitors and residents citywide. A gigantic ginger cat has been greeting travellers at Hong Kong International Airport while three inflatable marmalade felines lie sprawled across a lawn at the West Kowloon Cultural District, delighting visitors to the arts hub. In Yau Ma Tei, local artist German Li and his students have reimagined Vincent van Gogh’s classic painting The Starry Night... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349088/move-over-easter-bunny-cats-are-stars-hong-kong-holiday?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349088/move-over-easter-bunny-cats-are-stars-hong-kong-holiday?utm_source=rss_feed Sun, 05 Apr 2026 10:44:22 +0000 Emily Hung Emily Hung Hong Kong’s economy showed resilience in the first quarter of the year amid volatility in the equity and oil markets brought by war in the Middle East, the city’s finance chief has said. In his review on Sunday, Financial Secretary Paul Chan Mo-po said investors continued to move assets to the city, drawn by the steady growth of mainland China’s economy and the large number of initial public offerings in Hong Kong. The minister said the geopolitical landscape had proved to be complex and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349071/hong-kong-economy-showed-resilience-first-quarter-2026-paul-chan-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349071/hong-kong-economy-showed-resilience-first-quarter-2026-paul-chan-says?utm_source=rss_feed Sun, 05 Apr 2026 05:51:55 +0000 Ambrose Li,Wynna Wong Ambrose Li,Wynna Wong Hong Kong traveller Mr Lau is among those turning to high-speed rail trips or flights to mainland China after being deterred from international air travel by rising costs, particularly fuel surcharges, as war in the Middle East rages. The 34-year-old, who was travelling to neighbouring Guangzhou with his wife for a three-day trip on a high-speed train on Friday, said he had done some calculations since airlines’ fuel surcharges rose, noting that a return train trip between the two cities cost... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349064/hong-kong-tourists-choose-safety-affordability-trips-mainland-china?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349064/hong-kong-tourists-choose-safety-affordability-trips-mainland-china?utm_source=rss_feed Sun, 05 Apr 2026 04:32:30 +0000 Ningrong Liu Ningrong Liu Hong Kong’s first five-year plan is expected to guide the city’s future development. Never before has the city attempted a comprehensive plan in the style of mainland China, signalling a major shift in how it approaches long‑term growth. The real question is not why a laissez‑faire economy must adopt a new model but how this transformation will unfold. This exercise is unprecedented on multiple fronts. First, it departs from Hong Kong’s long-standing reliance on market forces and incremental... https://www.scmp.com/opinion/hong-kong-opinion/article/3348085/how-china-transforming-hong-kong-strategic-hub?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3348085/how-china-transforming-hong-kong-strategic-hub?utm_source=rss_feed Sun, 05 Apr 2026 01:30:09 +0000 Theodora Yu Theodora Yu Fans and cosplayers flooded an intellectual property (IP) festival that debuted in Hong Kong on Saturday, featuring pop culture exports such as the hit franchise Godzilla as well as local designs and trademarks. Long queues formed at Con-Con Hong Kong 2026, a two-day event at AsiaWorld-Expo bringing together exhibitions, music performances, licensing showcases and IP business matching opportunities. Visitors stocked up on exclusive merchandise at booths and took pictures of the latest figurine... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349040/hong-kong-ip-festival-con-con-draws-crowds-opening-day?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3349040/hong-kong-ip-festival-con-con-draws-crowds-opening-day?utm_source=rss_feed Sat, 04 Apr 2026 11:45:14 +0000 Matthew Cheng,Wynna Wong,Theodora Yu Matthew Cheng,Wynna Wong,Theodora Yu More than 685,000 residents left Hong Kong as the Easter break got under way on Friday, even as some said ongoing geopolitical tensions had made them more cautious about drawing up future travel plans. An industry leader noted that more Hongkongers had chosen to travel to mainland China, with the ongoing war in the Middle East disrupting air traffic and prompting local airlines to raise fuel surcharges. Immigration statistics for Friday showed that 685,149 residents had left Hong Kong as of 9pm,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348874/hongkongers-opt-mainland-chinese-tours-during-easter-amid-middle-east-war?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348874/hongkongers-opt-mainland-chinese-tours-during-easter-amid-middle-east-war?utm_source=rss_feed Fri, 03 Apr 2026 02:58:57 +0000 Wynna Wong Wynna Wong More Hongkongers are expected to travel elsewhere during the five-day Easter weekend from Friday despite a sharp jump in fuel surcharges, according to industry leaders. They also expect more visitors from mainland China during an overlapping Ching Ming Festival holiday, but doubt the influx will deliver any significant boost to the city’s tourism revenue. Some noted that the Easter break might have encouraged travel to the Middle East, but many tour groups have been cancelled until October due... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348849/more-hongkongers-travel-over-long-easter-break-despite-higher-costs?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348849/more-hongkongers-travel-over-long-easter-break-despite-higher-costs?utm_source=rss_feed Fri, 03 Apr 2026 01:00:12 +0000 Richard Harris Richard Harris The mighty Zambezi River has its source in northern Zambia, and flows north, west, south, then east, tracing borders for several countries including Zimbabwe. As the river enters Zimbabwe, the water molecules begin to flow faster, unknowingly energised – developing first into a rush, then eventually a torrent as they plunge down the Victoria Falls. This is an excellent analogy of the extremes of stock market price movements. In a stock market crash, prices move slowly, then very fast. My... https://www.scmp.com/opinion/hong-kong-opinion/article/3348698/us-hong-kong-theres-no-excuse-insider-trading?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3348698/us-hong-kong-theres-no-excuse-insider-trading?utm_source=rss_feed Thu, 02 Apr 2026 21:30:10 +0000 Ambrose Li Ambrose Li Hong Kong begins a five-day long weekend break for the Easter and Ching Ming Festival holidays on Friday, with authorities expecting busy inbound and outbound travel during the period. Mainland China marks the festival, also known as tomb-sweeping day, between Saturday and Monday. For Hongkongers remaining in the city and visitors from the mainland and elsewhere, the South China Morning Post lists key activities open to the public. Coffee festival The popular coffee festival returns to the West... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348841/looking-easter-holiday-inspiration-heres-whats-happening-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348841/looking-easter-holiday-inspiration-heres-whats-happening-hong-kong?utm_source=rss_feed Thu, 02 Apr 2026 13:03:18 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s New World Development (NWD) has shelved plans to acquire the remaining stakes in three commercial sites in Causeway Bay, signalling continued caution among developers despite signs of improving demand in the core office market. The company, which has been selling assets to reduce debt, said it would “exercise prudence as appropriate, having regard to cost and efficiency, as well as overall market supply and demand, with a view to delivering reasonable returns”. NWD, which reported... https://www.scmp.com/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3348834/new-world-pulls-back-causeway-bay-acquisition-amid-uneven-recovery?utm_source=rss_feed Thu, 02 Apr 2026 11:34:41 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s property transactions crossed 7,000 for the sixth consecutive month in March – the first time in four years that monthly volumes stayed above this level – despite a slight fall last month, according to official data. Residential transactions declined by about 5.3 per cent to 6,316 from a month earlier, while their month-on-month value decreased by 4.19 per cent to HK$55.18 billion (US$7.04 billion), according to data from the Land Registry on Thursday. New and lived-in home sales... https://www.scmp.com/business/article/3348739/hong-kongs-property-deals-exceed-7000-6-straight-months-march?utm_source=rss_feed https://www.scmp.com/business/article/3348739/hong-kongs-property-deals-exceed-7000-6-straight-months-march?utm_source=rss_feed Thu, 02 Apr 2026 03:24:36 +0000 Emily Hung Emily Hung John Hau, a 66-year-old Hongkonger, was frustrated by the government’s decision to revamp the HK$2 (26 US cents) transport subsidy scheme. The discount allowed him to pay just HK$4 to make the round-trip rail commute from his home in Sham Shui Po in Kowloon to Wan Chai on Hong Kong Island, where he works as a security guard at a hotel. From Friday, he will need to pay an extra HK$1.20, an amount that does not bother him financially but emotionally. “The impact on my finances is not substantial,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348712/will-coming-changes-hk2-transport-scheme-hurt-working-elderly-most?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348712/will-coming-changes-hk2-transport-scheme-hurt-working-elderly-most?utm_source=rss_feed Thu, 02 Apr 2026 02:00:14 +0000 Edith Lin Edith Lin The head of Hong Kong’s government investment agency has been appointed as a director of a global organisation that brings together leading firms and investors, marking the first time a Chinese sovereign wealth fund has held a seat on the board. FCLTGlobal announced on Wednesday that Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), had become one of the 19 directors on its board. “Clara brings deep experience and thoughtful leadership that will strengthen our work to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348690/hong-kong-investment-chief-joins-global-board-first-chinese-sovereign-funds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348690/hong-kong-investment-chief-joins-global-board-first-chinese-sovereign-funds?utm_source=rss_feed Wed, 01 Apr 2026 12:00:25 +0000 Jess Ma Jess Ma Hong Kong’s security minister has revealed that authorities are reviewing fire safety laws to expand enforcement powers and toughen penalties as part of a broader crackdown on illegal fuel sales in the city amid surging global oil prices. Secretary for Security Chris Tang Ping-keung said on Wednesday the government’s review included possible penalty increases, expanding enforcement powers for the Fire Services Department to make arrests and seize vehicles, and an examination of the legal... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348689/hong-kong-weighs-tougher-enforcement-against-illegal-fuel-sales-prices-soar?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348689/hong-kong-weighs-tougher-enforcement-against-illegal-fuel-sales-prices-soar?utm_source=rss_feed Wed, 01 Apr 2026 11:47:11 +0000 Oscar Liu Oscar Liu A Shenzhen-based tech firm taking part in Hong Kong trade fairs is leveraging the city as a springboard for global expansion, with plans to list locally this year while using its computing power to help enter the North American market. Robert Chan Kwok-cheung, global strategy officer at EngineAI, said on Wednesday the company’s presence in the city was a strategic move to bypass technical and geopolitical hurdles. EngineAI, which is one of Shenzhen’s “eight great guardians of embodied... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348686/shenzhen-robot-maker-turns-hong-kong-computing-power-and-listing?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348686/shenzhen-robot-maker-turns-hong-kong-computing-power-and-listing?utm_source=rss_feed Wed, 01 Apr 2026 11:12:45 +0000 Lo Hoi-ying Lo Hoi-ying Hong Kong’s retail sales jumped by nearly 12 per cent in the first two months of 2026 against a year ago, with authorities pointing to growth in the local economy and a surge in tourists. Provisional figures released by the Census and Statistics Department on Wednesday showed retail sales reached HK$35 billion (US$4.47 billion) in February, driven by the Chinese New Year holiday and major events in the city. Sales were HK$37.3 billion in January. The department combined the retail sales figures... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348664/hong-kong-retail-sales-jump-nearly-12-first-2-months-year?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348664/hong-kong-retail-sales-jump-nearly-12-first-2-months-year?utm_source=rss_feed Wed, 01 Apr 2026 08:49:30 +0000 Cheryl Arcibal Cheryl Arcibal Prime office supply in mainland Chinese cities and Hong Kong is estimated to peak this year, while demand remains hampered by an economic slowdown and global uncertainties, according to Cushman & Wakefield. At the end of 2025, premium office inventory in 21 major cities in Greater China – including Hong Kong, Beijing, Shanghai, Shenzhen and Guangzhou, as well as Taiwan – amounted to 99.2 million square metres (1.07 billion sq ft), up 4.6 million square metres or 8.4 per cent from a year earlier,... https://www.scmp.com/business/article/3348648/mainland-china-hong-kong-premium-office-supply-peak-demand-lags-cushman-says?utm_source=rss_feed https://www.scmp.com/business/article/3348648/mainland-china-hong-kong-premium-office-supply-peak-demand-lags-cushman-says?utm_source=rss_feed Wed, 01 Apr 2026 08:30:13 +0000 Jess Ma Jess Ma Hong Kong International Airport has been voted the world’s best airport, along with accolades recognising its security standards and facilities. An Airport Authority spokesman said on Wednesday that the city’s airport had been named “Best Airport in the World” at the Global Travel Awards this year. Organiser International Media & News Group, based in Britain, said the awards recognised the best hotels, airports, airlines and destinations based on votes cast by 2.5 million travellers from more... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348649/hong-kong-airport-named-worlds-best-global-travel-awards-2026?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348649/hong-kong-airport-named-worlds-best-global-travel-awards-2026?utm_source=rss_feed Wed, 01 Apr 2026 08:10:07 +0000 Ambrose Li,Danny Mok Ambrose Li,Danny Mok The parent company of Hong Kong online retailer HKTVmall has defended its life science project involving testing the viability of detached animal heads and limbs, responding to animal ethics concerns by saying no pets were experimented on. The Hong Kong Technology Venture Company, which revealed the project in its annual results on Monday, said it believed the research to be a world first that could be applied to organ transplants, potentially extending human lifespan. “The related experiments... https://www.scmp.com/news/hong-kong/society/article/3348638/hktvmall-parent-firm-under-fire-testing-how-long-detached-animal-heads-can-survive?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3348638/hktvmall-parent-firm-under-fire-testing-how-long-detached-animal-heads-can-survive?utm_source=rss_feed Wed, 01 Apr 2026 07:14:21 +0000 Danny Mok Danny Mok Nearly 6.5 million people are expected to pass through Hong Kong’s border control points during the coming Easter and Ching Ming Festival holiday, the Immigration Department has said. The department estimated that 6.44 million Hong Kong residents and visitors would pass through air, land and sea control points between Friday and Tuesday. About 5.43 million trips were expected to be made via land boundary control points linking Hong Kong and Shenzhen. The number of outbound and inbound trips... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348574/65-million-people-pass-through-hong-kong-borders-during-coming-holiday?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348574/65-million-people-pass-through-hong-kong-borders-during-coming-holiday?utm_source=rss_feed Tue, 31 Mar 2026 13:34:03 +0000 Connor Mycroft Connor Mycroft Confidence among Hong Kong’s exporters fell at its steepest rate in two years amid global trade turbulence even as demand was expected to remain stable over the long term. The Trade Development Council (TDC) on Tuesday said its Exporters Confidence Index for the first quarter of 2026 showed that traders remained “cautious”, though trade diversification strategies have them “well prepared” for any further market disruptions. The index surveys over 500 traders from six major industries on a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348560/hong-kong-exporter-confidence-records-steepest-drop-2-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348560/hong-kong-exporter-confidence-records-steepest-drop-2-years?utm_source=rss_feed Tue, 31 Mar 2026 12:01:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers snapped up new launches on Tuesday as developers accelerated sales amid concerns over slower rate cuts and geopolitical tensions in the Middle East. By about 3.50pm, all 254 flats released at the La Mirabelle project in Tseung Kwan O had been sold, according to market agents. “Today’s positive sales results at La Mirabelle is a vote of confidence for the Hong Kong residential market,” said Daryl Ng, chairman of Sino Group. “The Hong Kong residential market fundamentals are... https://www.scmp.com/business/article/3348547/hong-kong-homebuyers-pile-new-launches-despite-rate-jitters-and-middle-east-tensions?utm_source=rss_feed https://www.scmp.com/business/article/3348547/hong-kong-homebuyers-pile-new-launches-despite-rate-jitters-and-middle-east-tensions?utm_source=rss_feed Tue, 31 Mar 2026 09:49:52 +0000 Kun Tian Kun Tian When InvestHK’s director general Alpha Lau Hai-suen recently said that companies using Dubai as a hub had mostly shifted to Hong Kong after the outbreak of the Iran war, the instinct to leverage the city’s position as a safe haven for investment was understandable. Hong Kong should absolutely try to capture capital and talent unsettled by instability in the Gulf. However, it should resist the temptation to confuse a geopolitical opening with a strategic victory. Opportunity does not become a... https://www.scmp.com/opinion/hong-kong-opinion/article/3347848/dubais-loss-could-be-hong-kongs-gain-only-if-city-ready?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3347848/dubais-loss-could-be-hong-kongs-gain-only-if-city-ready?utm_source=rss_feed Tue, 31 Mar 2026 01:30:08 +0000 Wynna Wong Wynna Wong Hong Kong’s initiatives to develop an intellectual property (IP) economy remain loosely defined and will require sustained investment and clearer coordination to take shape, industry players and analysts have said, following the latest budget outlining plans to turn the city into a regional IP trading hub. Financial Secretary Paul Chan Mo-po said in his budget address last month that authorities aimed to strengthen Hong Kong’s role in IP trading – including by refining tax arrangements,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348449/hong-kongs-ip-hub-ambitions-require-sustained-investment-coordination-experts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348449/hong-kongs-ip-hub-ambitions-require-sustained-investment-coordination-experts?utm_source=rss_feed Tue, 31 Mar 2026 00:30:08 +0000