https://www.scmp.com/rss/325376/feed Breaking news and analysis on Hong Kong's economy and the companies that operate in the city, including its GDP, economic outlook, impact of the coronavirus outbreak, macroeconomic indicators, the local government finance and budget, retail sales, consumption, employment and monetary policy. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Vivian Au Vivian Au The appreciating yuan and ongoing Sino-Japanese tensions have given Hong Kong tourism a boost ahead of mainland China’s Labour Day “golden week” holiday, with hotel prices rising by as much as 8 per cent, an industry representative has said. Lawmaker Alan Chan Chung-yee, who is also the chief operating officer of Miramar Group, expressed optimism on Monday that the city would welcome more mainland tourists originally heading to other parts of East Asia during the country’s coming long holiday,... https://www.scmp.com/news/hong-kong/society/article/3351523/sino-japanese-tensions-boon-hong-kong-tourism-golden-week-expert-says?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3351523/sino-japanese-tensions-boon-hong-kong-tourism-golden-week-expert-says?utm_source=rss_feed Mon, 27 Apr 2026 04:33:38 +0000 Edith Lin Edith Lin Hong Kong’s Cinema Day has drawn a record-breaking 201,000 film-goers, despite a marginal decline in occupancy rates compared with last year. The Hong Kong Theatres Association, which organises the annual event, revealed the figures on Sunday, a day after 52 cinemas offered HK$30 (US$3.83) movie tickets for 1,694 screenings. “It marks a new high for the event, with 201,000 admissions and an average occupancy rate of 81 per cent,” a post on the promotion’s social media page said. “Families, the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351470/cinema-day-attracted-201000-film-goers-how-does-it-stack-against-last-year?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351470/cinema-day-attracted-201000-film-goers-how-does-it-stack-against-last-year?utm_source=rss_feed Sun, 26 Apr 2026 08:43:46 +0000 Oscar Liu Oscar Liu More than 5,000 Guangdong motorists have been approved to drive into Hong Kong’s urban areas under a southbound travel scheme as of March, while 90 per cent of the 3,500 travellers who booked to visit have stayed for one or two days. The Transport Department said on Sunday that the urban access portion of the Southbound Travel for Guangdong Vehicles arrangement was operating smoothly and had become increasingly popular since its launch near the end of 2025. The scheme currently grants access to... https://www.scmp.com/news/hong-kong/transport/article/3351467/over-5000-guangdong-motorists-sign-hong-kongs-southbound-travel-scheme?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3351467/over-5000-guangdong-motorists-sign-hong-kongs-southbound-travel-scheme?utm_source=rss_feed Sun, 26 Apr 2026 08:01:09 +0000 Edith Lin Edith Lin Hong Kong authorities have stepped up publicity with mainland Chinese media ahead of a ban on possessing alternative smoking products, including e-cigarettes, in public places, which will take effect before the Labour Day “golden week” holiday. Director of Health Ronald Lam Man-kin said on Sunday that the Tobacco and Alcohol Control Office had conducted more than 11,000 inspections and issued about 2,200 HK$3,000 (US$383) fixed penalty notices so far this year. Of these, 23 were related to the... https://www.scmp.com/news/hong-kong/health-environment/article/3351461/hong-kong-boosts-e-cigarette-ban-awareness-mainland-china-golden-week?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3351461/hong-kong-boosts-e-cigarette-ban-awareness-mainland-china-golden-week?utm_source=rss_feed Sun, 26 Apr 2026 06:12:33 +0000 Matthew Cheng Matthew Cheng Hong Kong’s initial public offering (IPO) market has raised more than HK$140 billion (US$17.9 billion) as of April, maintaining its global lead, the city’s finance chief has said, while indicating a renewed push to develop gold trading amid rising demand for risk diversification. Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong remained the world’s top IPO fundraising hub as of last week, citing a growing number of high-quality companies using the city’s strong financing... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351458/hong-kongs-ipo-market-exceeds-hk140-billion-amid-renewed-gold-trading-push?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351458/hong-kongs-ipo-market-exceeds-hk140-billion-amid-renewed-gold-trading-push?utm_source=rss_feed Sun, 26 Apr 2026 05:27:24 +0000 Jun Yu Chan Jun Yu Chan Hong Kong Financial Secretary Paul Chan Mo-po recently said the city could rise to become the world’s No 2 financial centre in 10-15 years. That is the right kind of ambition. In a world being reshaped by geopolitical fragmentation, China’s growing global weight and rapid technological change, Hong Kong must think beyond remaining internationally competitive to exercising global leadership. But ambition alone is not enough. Hong Kong has spent decades proving it can operate at the world’s... https://www.scmp.com/opinion/hong-kong-opinion/article/3351042/be-world-no-2-financial-centre-hong-kong-must-be-rule-maker?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3351042/be-world-no-2-financial-centre-hong-kong-must-be-rule-maker?utm_source=rss_feed Sat, 25 Apr 2026 21:30:09 +0000 Edith Lin Edith Lin Hong Kong’s new marina-residential tourism project has attracted local and overseas interest, with the city’s leading yacht club and a Singapore-based operator seeking partnerships with developers to expand their presence. Experts in the real estate and boating industries said developers would be keen to work with local, mainland Chinese or overseas marina operators to strengthen their bids and tap into the market, while also urging the government to improve infrastructure and reinforce the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351395/hong-kong-aberdeen-marina-project-attracting-local-and-overseas-interest?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351395/hong-kong-aberdeen-marina-project-attracting-local-and-overseas-interest?utm_source=rss_feed Sat, 25 Apr 2026 04:00:18 +0000 SCMP Editorial SCMP Editorial Foreign critics periodically declare the end of Hong Kong, with some of the most recent warnings following the exit of foreign firms after the 2019 protests and the Covid-19 pandemic. Now, firms are returning in droves, including some new ones in the tech sector. More than 120 strategic corporate partners are establishing a presence in Hong Kong through the government’s Office for Attracting Strategic Enterprises (OASES), including global pharmaceutical and biotech brands such as Pfizer and... https://www.scmp.com/opinion/comment/article/3351256/influx-global-firms-underscores-hong-kongs-economic-recovery?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3351256/influx-global-firms-underscores-hong-kongs-economic-recovery?utm_source=rss_feed Fri, 24 Apr 2026 23:15:10 +0000 Denise Tsang Denise Tsang Cathay Pacific Airways has raised HK$2.08 billion (US$265.4 million) by selling Hong Kong dollar-denominated bonds to boost its working capital, tapping the Hong Kong dollar public bond market for the first time. Hong Kong’s flag carrier said on Friday that the bond issuance was the biggest of its kind by a locally based, non-public sector company. The three-year bonds, which carry a fixed interest rate of 3.78 per cent, were sold mainly to professional investors such as asset managers, banks... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351358/cathay-raises-hk208-billion-after-tapping-public-bond-market-first-time?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351358/cathay-raises-hk208-billion-after-tapping-public-bond-market-first-time?utm_source=rss_feed Fri, 24 Apr 2026 12:57:46 +0000 Fiona Sun Fiona Sun More than 50 restaurants and shops have joined a “tourism everywhere” initiative to promote Hong Kong’s bustling Central district among residents and tourists and boost local spending. The Hong Kong Small and Medium Enterprises Association on Friday revealed the programme to promote hidden delicacies and goods in Central, aligning with the government’s objective to turn everywhere into a tourist destination. The initiative runs from May 1 until the end of June, with the first five days... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351351/over-50-central-restaurants-shops-join-drive-boost-spending-lure-tourists?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351351/over-50-central-restaurants-shops-join-drive-boost-spending-lure-tourists?utm_source=rss_feed Fri, 24 Apr 2026 12:00:14 +0000 William Yiu William Yiu HK Electric will cut fuel surcharges for customers in May but has warned that costs could rise significantly later in the year due to the impact of the conflict in the Middle East. The company said on Friday that its fuel clause charge for May would fall by 4.4 HK cents per kilowatt-hour to 26 HK cents per kWh, citing a deferred effect under the monthly adjustment mechanism based on January’s average fuel costs. The decline marks the second consecutive monthly drop. “Although international fuel... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351309/hk-electric-cut-may-fuel-charges-warns-sharp-future-increase?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351309/hk-electric-cut-may-fuel-charges-warns-sharp-future-increase?utm_source=rss_feed Fri, 24 Apr 2026 09:09:03 +0000 Ambrose Li Ambrose Li A winning bid involving Henderson Land Development to operate a major Hong Kong harbourfront event space has expanded the developer’s footprint in Central to three prime locations, which experts say may result in greater accessibility and more visitors from surrounding commercial properties. Central Grand, a 50:50 joint venture formed by Henderson and concert organiser YW Company – commonly known as “Yiu Wing” – won the tender to operate the 3.7-hectare (9.1 acres) Central Harbourfront Event... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351301/hendersons-winning-bid-run-harbour-event-space-could-boost-centrals-access?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351301/hendersons-winning-bid-run-harbour-event-space-could-boost-centrals-access?utm_source=rss_feed Fri, 24 Apr 2026 08:42:23 +0000 Ambrose Li,Wynna Wong Ambrose Li,Wynna Wong Hongkonger Dominique Li and his wife spent a two-day break earlier this month in Shenzhen to soak up the cultural vibe, a short getaway they said would not be their last. The 45-year-old engineer, who lives in Tin Shui Wai in the northwestern New Territories, was particularly drawn to a new landmark, Shenzhen Bay Culture Square in Nanshan district. He treated his visit to Shenzhen like a trip to Hong Kong’s Causeway Bay shopping district, which also takes about an hour. “The spaces here are... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351208/value-space-and-style-pull-hongkongers-shenzhens-new-cultural-hotspots?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351208/value-space-and-style-pull-hongkongers-shenzhens-new-cultural-hotspots?utm_source=rss_feed Fri, 24 Apr 2026 00:30:17 +0000 SCMP Editorial SCMP Editorial To become an international sporting venue, it helps to have an iconic event that appears on the bucket lists of sports fans worldwide. With its 50th anniversary tournament, the Hong Kong Sevens has now consolidated that claim several times over. It bounced back from the pandemic when the city needed a morale booster. Last year, it emerged even stronger from a move to a new venue that tested fun-loving fans’ loyalty. Now it has confounded concerns that geopolitical tension and wars would dim its... https://www.scmp.com/opinion/comment/article/3351098/hong-kong-sevens-proves-be-rude-health-50th-anniversary?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3351098/hong-kong-sevens-proves-be-rude-health-50th-anniversary?utm_source=rss_feed Thu, 23 Apr 2026 23:15:15 +0000 Ralph Jennings Ralph Jennings China has launched a bond-market-connect scheme with Brazil, Chinese media outlets reported this week, marking the first such link among emerging markets. Schemes such as this one, often dubbed “connects” between Chinese bond or stock markets and their offshore counterparts, typically allow investors to bypass special permits or capital-flow controls when trading on either side’s exchanges. China now maintains at least five offshore capital-market “connect” schemes on three continents. Hong... https://www.scmp.com/economy/global-economy/article/3351185/brazil-beckoned-china-now-has-stock-and-bond-connect-schemes-these-5-regions?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3351185/brazil-beckoned-china-now-has-stock-and-bond-connect-schemes-these-5-regions?utm_source=rss_feed Thu, 23 Apr 2026 23:00:10 +0000 Ambrose Li Ambrose Li Two famed water lily paintings by French Impressionist master Claude Monet will go on display in Hong Kong from Friday in a free exhibition highlighting cultural exchange between East and West. The show, titled “Blooming: the Art of Garden in East and West”, brings together more than 100 sets of exhibits from the Art Institute of Chicago, Beijing’s Palace Museum and the Palace of Versailles in Paris. The Hong Kong Museum of Art in Tsim Sha Tsui, which is hosting the show, has also contributed... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351200/blooming-good-monet-maestros-shine-garden-art-bridges-east-and-west?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351200/blooming-good-monet-maestros-shine-garden-art-bridges-east-and-west?utm_source=rss_feed Thu, 23 Apr 2026 12:58:02 +0000 Kolette Lim Kolette Lim Hong Kong International Airport expects revenue to grow by up to 10 per cent this year despite disruptions from the Iran conflict, with its chief executive aiming to position it as an alternative hub to the Middle East. In a wide-ranging interview with the South China Morning Post on Thursday, Airport Authority Hong Kong CEO Vivian Cheung Kar-fay said flights that had been cancelled due to the conflict – including those by flag carrier Cathay Pacific Airways – were those that were “less... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351196/hong-kong-airports-revenue-expected-grow-10-despite-mideast-war?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351196/hong-kong-airports-revenue-expected-grow-10-despite-mideast-war?utm_source=rss_feed Thu, 23 Apr 2026 12:35:35 +0000 Connor Mycroft Connor Mycroft A Henderson Land Development joint venture has won a five-year contract to operate the Central Harbourfront Event Space in Hong Kong, with a clause requiring the government to be compensated if the number of events falls short of its commitment. The Development Bureau announced on Thursday that Central Grand Limited (CGL), a joint venture between the property developer and concert organiser YW Company, or “Yiu Wing”, beat five other bidders for the prime site, which hosts major events such as... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351169/henderson-land-joint-venture-operate-central-harbourfront-event-space?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351169/henderson-land-joint-venture-operate-central-harbourfront-event-space?utm_source=rss_feed Thu, 23 Apr 2026 10:36:34 +0000 Theodora Yu Theodora Yu Hong Kong’s unemployment rate fell by 0.1 percentage point to 3.7 per cent in the first quarter of this year, marking a second consecutive decline across rolling three-month periods. The Census and Statistics Department said on Thursday the jobless rate stood at 3.7 per cent for January to March, down from 3.8 per cent in the preceding period from December to February. The underemployment rate also edged down by 0.1 percentage point, from 1.7 to 1.6 per cent over the same periods. The... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351150/hong-kong-jobless-rate-dips-second-successive-quarter?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351150/hong-kong-jobless-rate-dips-second-successive-quarter?utm_source=rss_feed Thu, 23 Apr 2026 09:08:24 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. I refer to the letter, “HK petrol prices rise despite oil markets starting to moderate” (April 18). I share the frustration expressed about sticky prices, but the government’s options are constrained by market realities. The difference between the prices of crude oil and refined... https://www.scmp.com/opinion/letters/article/3350947/if-energy-crisis-drags-hong-kong-may-need-rely-conservation?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3350947/if-energy-crisis-drags-hong-kong-may-need-rely-conservation?utm_source=rss_feed Thu, 23 Apr 2026 03:30:07 +0000 Ken Ip Ken Ip The numbers tell a revealing story. The city’s eight publicly funded universities, once primarily judged by academic output and global rankings, are now generating record income from knowledge transfer. Patents, licensing deals, industry partnerships. These are not side activities. They are becoming core business lines. Universities are no longer just custodians of knowledge. They are active market participants, packaging and monetising it. Around them, an ecosystem is forming. Student hostels... https://www.scmp.com/opinion/hong-kong-opinion/article/3350074/hong-kongs-education-hub-cannot-be-one-market-wonder?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350074/hong-kongs-education-hub-cannot-be-one-market-wonder?utm_source=rss_feed Thu, 23 Apr 2026 01:30:08 +0000 Lam Ka-sing Lam Ka-sing A long-awaited cross-border solo travel scheme will allow yachts from Macau and Hong Kong to easily sail to about six designated ports in the western waters off the Greater Bay Area, with the policy to be finalised as early as this summer, the South China Morning Post has learned. A Guangdong provincial government document, seen by the SCMP, also showed several routes that were recommended for leisure, such as the waters off Castle Peak Bay, the Pearl River Delta and Fan Lau Kok of the Lantau... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351051/travel-scheme-could-allow-hong-kong-macau-yachts-sail-6-greater-bay-area-ports?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3351051/travel-scheme-could-allow-hong-kong-macau-yachts-sail-6-greater-bay-area-ports?utm_source=rss_feed Thu, 23 Apr 2026 00:30:07 +0000 Kun Tian Kun Tian The most revealing fact about Hong Kong’s stablecoin launch is not that licences were issued. It is who got them, and who did not. By handing the first approvals to HSBC and the Standard Chartered-led joint venture Anchorpoint Financial, regulators made clear from the start that digital money in Hong Kong will be bank-led. That choice matters because Hong Kong is not trying to become Asia’s easiest venue for cryptocurrency experimentation. Rather, it is trying to become the most credible place... https://www.scmp.com/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350356/what-hong-kongs-conservative-stablecoin-licence-roll-out-reveals?utm_source=rss_feed Wed, 22 Apr 2026 22:30:08 +0000 Zhu Wenqian Zhu Wenqian The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced on Wednesday the joint establishment of the Northern Metropolis Financial Advisory Taskforce, which will explore financing solutions for the development of the city’s flagship project. The Northern Metropolis, a megaproject designed to bolster Hong Kong’s economic base and advance its integration with the Greater Bay Area, will transform 30,000 hectares (74,132 acres) of land near the city’s border... https://www.scmp.com/business/banking-finance/article/3351034/hkma-and-hkab-launch-task-force-hong-kongs-northern-metropolis-financing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3351034/hkma-and-hkab-launch-task-force-hong-kongs-northern-metropolis-financing?utm_source=rss_feed Wed, 22 Apr 2026 11:52:46 +0000 Kristen Cheung Kristen Cheung Hong Kong residents, from housewives to stay-at-home mothers and couples, have rushed to theatres to secure HK$30 (US$4) tickets for Cinema Day, with many calling for even more discounts and family-friendly perks on other occasions. Before sales opened at noon on Wednesday, some customers started queuing up from as early as 10.30am at Star Cinema in Tseung Kwan O to get discounted tickets for screenings this Saturday. A housewife surnamed Ho was the first in line and hoped to get discounted... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350982/hong-kong-residents-flock-theatres-buy-advanced-hk30-cinema-day-tickets?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350982/hong-kong-residents-flock-theatres-buy-advanced-hk30-cinema-day-tickets?utm_source=rss_feed Wed, 22 Apr 2026 06:41:48 +0000 Lam Ka-sing Lam Ka-sing The MTR Corporation has sold HK$18.8 billion (US$2.4 billion) in green bonds, setting a Hong Kong dollar-denominated issuance record and marking its first publicly offered bond in the local currency market, as it seeks to diversify funding for a raft of projects. The rail giant said on Wednesday that it sold five-, 10- and 30-year bonds, with the size of each tranche also representing the largest for their respective tenors to date. Together with its inaugural Australian dollar-denominated green... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350965/hong-kongs-mtr-corp-sells-record-hk188-billion-green-bonds?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350965/hong-kongs-mtr-corp-sells-record-hk188-billion-green-bonds?utm_source=rss_feed Wed, 22 Apr 2026 05:19:23 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. The current discussion on the Kai Tak line is too focused on the mass transit itself – alignment, stations, connectivity. But the real issue is not just the mass transit. It’s what happens around it. As planned, the line will mainly serve local residents. That is useful, but not... https://www.scmp.com/opinion/letters/article/3350882/hong-kong-cant-just-build-monorail-kai-tak-and-hope-best?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3350882/hong-kong-cant-just-build-monorail-kai-tak-and-hope-best?utm_source=rss_feed Wed, 22 Apr 2026 03:30:07 +0000 Theodora Yu Theodora Yu Buyers of illicit fuel in Hong Kong could face a maximum penalty of HK$1 million (US$127,687) and one year in prison under proposed legal amendments aimed at curbing illegal refuelling amid surging global oil prices, the South China Morning Post has learned. According to a government source, the Security Bureau has also proposed tougher penalties for sellers, increasing the maximum fine for a first conviction from HK$100,000 to HK$3 million and raising the maximum jail term from six months to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350922/hong-kong-aiming-curb-illicit-fuel-trade-tougher-penalties-source?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350922/hong-kong-aiming-curb-illicit-fuel-trade-tougher-penalties-source?utm_source=rss_feed Tue, 21 Apr 2026 13:53:57 +0000 Ambrose Li Ambrose Li Hutchison Port Holdings Trust has deployed Hong Kong’s first AI-powered driverless trucks, a move the container terminal operator said could help tackle a chronic manpower shortage and improve efficiency. The trust, affiliated with Hutchison Ports – a subsidiary of CK Hutchison Holdings, controlled by billionaire Li Ka-shing’s family – on Tuesday invited media to view a fleet of six electric autonomous trucks at Kwai Tsing Container Terminal 4. The fleet was launched in January. “Hong Kong has... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350914/first-ai-driverless-trucks-deployed-tackle-hong-kong-port-labour-shortage?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350914/first-ai-driverless-trucks-deployed-tackle-hong-kong-port-labour-shortage?utm_source=rss_feed Tue, 21 Apr 2026 12:50:03 +0000 Zhu Wenqian,Cheryl Arcibal Zhu Wenqian,Cheryl Arcibal A consortium led by Sino Land, alongside state-backed mainland developers China Overseas Land & Investment and China Merchants Land, has won a tender for the Kam Sheung Road Station Phase Two development, signalling continued confidence in Hong Kong’s Northern Metropolis and its long-term growth prospects, particularly among mainland developers. The group – which also includes Great Eagle Holdings – plans to invest more than HK$13 billion (US$1.7 billion) to build high-quality residential... https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3350904/sino-land-led-consortium-clinches-kam-sheung-road-phase-two-us17-billion-investment?utm_source=rss_feed Tue, 21 Apr 2026 11:30:30 +0000 Connor Mycroft Connor Mycroft The two main ferry operators running daily services between Hong Kong and Macau will raise fares by up to 11 per cent amid surging fuel prices, while a union said bus drivers were reporting lost income as companies cut services. Chief Executive John Lee Ka-chiu said on Tuesday that the government would continue to monitor oil prices as it pressed ahead with measures set out earlier by the interdepartmental task force on fuel supply. A day earlier, TurboJet and Cotai Water Jet said they would... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350862/hong-kong-macau-ferry-fares-increase-11-amid-fuel-costs-surge?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350862/hong-kong-macau-ferry-fares-increase-11-amid-fuel-costs-surge?utm_source=rss_feed Tue, 21 Apr 2026 08:38:46 +0000 Matthew Cheng Matthew Cheng Hong Kong’s leader has defended the government’s decision to suspend the launch of basketball betting, stressing the policy was never intended to encourage gambling and that all risks must be controlled before any further steps are taken. Chief Executive John Lee Ka-chiu made the remarks on Tuesday after the government’s surprising U-turn last week to halt the launch of basketball betting this September, citing the rapid growth of prediction markets – cryptocurrency-based platforms that allow... https://www.scmp.com/news/hong-kong/society/article/3350833/all-risks-must-be-controlled-john-lee-says-he-defends-basketball-betting-u-turn?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3350833/all-risks-must-be-controlled-john-lee-says-he-defends-basketball-betting-u-turn?utm_source=rss_feed Tue, 21 Apr 2026 05:20:03 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words. In the midst of global turmoil and war, Hong Kong is blessed to remain comparatively safe and stable. Yet safety alone is not a strategy; it is an asset that must be urgently leveraged. A rare window has opened as some highly skilled professionals are leaving the Gulf region,... https://www.scmp.com/opinion/letters/article/3350729/how-hong-kong-can-attract-talent-and-capital-middle-east?utm_source=rss_feed https://www.scmp.com/opinion/letters/article/3350729/how-hong-kong-can-attract-talent-and-capital-middle-east?utm_source=rss_feed Tue, 21 Apr 2026 03:30:09 +0000 Connor Mycroft Connor Mycroft Twenty-two strategic enterprises have signed agreements with the Office for Attracting Strategic Enterprises (OASES) to open or expand operations in Hong Kong. The latest group marks the sixth cohort under the government’s flagship investment attraction initiative since its launch in 2022, bringing the total number of strategic partners to more than 120. The South China Morning Post looks at who the latest companies are and the anticipated economic impact. 1. Who are the corporations? Pfizer, a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350780/which-global-firms-are-being-attracted-hong-kongs-strategic-enterprise-scheme?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350780/which-global-firms-are-being-attracted-hong-kongs-strategic-enterprise-scheme?utm_source=rss_feed Tue, 21 Apr 2026 01:30:31 +0000 Lam Ka-sing Lam Ka-sing Hong Kong’s major retailers are using aggressive tactics such as direct sourcing and leveraging massive economies of scale to avoid raising prices despite surging logistics costs arising from the war in the Middle East. But their resilience is being seriously tested for certain goods, with a leading cosmetics chain warning that shipping and airfreight costs have already surged by up to 15 per cent. Sa Sa International chairman Simon Kwok Siu-ming told the South China Morning Post on Friday that... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350713/hong-kong-retailers-leverage-scale-sourcing-offset-war-driven-cost-pressures?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350713/hong-kong-retailers-leverage-scale-sourcing-offset-war-driven-cost-pressures?utm_source=rss_feed Tue, 21 Apr 2026 00:30:08 +0000 Wynna Wong Wynna Wong The number of inbound trips to Hong Kong by mainland Chinese visitors is expected to reach 980,000 for the coming Labour Day “golden week” holiday across the border, a 7 per cent increase from last year, with city authorities saying they will enforce environmental regulations around the clock at popular camping spots. The estimate from the Immigration Department on Monday came as the government revealed it had stepped up measures for crowd control, transport and tourism in anticipation of a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350752/mainland-chinese-make-980000-inbound-trips-hong-kong-labour-day-break?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350752/mainland-chinese-make-980000-inbound-trips-hong-kong-labour-day-break?utm_source=rss_feed Mon, 20 Apr 2026 11:12:29 +0000 Yulu Ao Yulu Ao Hong Kong stands to benefit from a potential reallocation of global capital as geopolitical tensions push investors to seek safer and more resilient markets, according to the Financial Services Development Council (FSDC), a government think tank. Speaking at a media round table on Tuesday, FSDC chairman Benjamin Hung Pi-cheng said the prolonged conflict involving the US, Israel and Iran had reinforced a global environment of “turbulence and volatility”, prompting investors to reassess where to... https://www.scmp.com/business/china-business/article/3350706/hong-kong-well-positioned-attract-global-capital-amid-geopolitical-shifts-think-tank?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3350706/hong-kong-well-positioned-attract-global-capital-amid-geopolitical-shifts-think-tank?utm_source=rss_feed Mon, 20 Apr 2026 08:50:08 +0000 Oscar Liu Oscar Liu Hong Kong’s Airport Authority has launched its marina project as part of the broader Skytopia blueprint, and is soliciting partners from the global yachting, hospitality and water sports sectors to help shape the 200-hectare (494 acres) development, with the first phase of the facility scheduled for completion in 2028. Cissy Chan Ching-sze, the authority’s commercial executive director, said on Monday that the development – a key component of the wider Airport City project – is aimed at a global... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350696/hong-kong-launches-skycity-marina-project-drive-tourism-and-yacht-economy?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350696/hong-kong-launches-skycity-marina-project-drive-tourism-and-yacht-economy?utm_source=rss_feed Mon, 20 Apr 2026 07:16:52 +0000 Oscar Liu,Olga Wong,Vivian Au Oscar Liu,Olga Wong,Vivian Au Global drug maker Pfizer and biotech firm Amgen, each valued at more than HK$1 trillion (US$153 billion), are among 22 strategic enterprises from the fintech, cloud computing and aerial transport sectors to open or expand offices in Hong Kong. The firms attended a ceremony on Monday to sign agreements with the Office for Attracting Strategic Enterprises (OASES). It marked the sixth cohort under the government’s flagship investment initiative since its launch, as the South China Morning Post... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350693/pfizer-amgen-among-22-strategic-firms-eyeing-hong-kong-expansion-source?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350693/pfizer-amgen-among-22-strategic-firms-eyeing-hong-kong-expansion-source?utm_source=rss_feed Mon, 20 Apr 2026 06:58:40 +0000 https://www.scmp.com/news/hong-kong/hong-kong-economy/series/3350667/turbulent-times-will-hong-kong-be-safe-haven?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/series/3350667/turbulent-times-will-hong-kong-be-safe-haven?utm_source=rss_feed Mon, 20 Apr 2026 02:45:43 +0000 Alice Wu Alice Wu Hong Kong’s government is under mounting pressure to deliver the Northern Metropolis, announced in 2021, as it approaches the end of its term – less than 15 months and counting. The megaproject, to turn 30,000 hectares (74,132 acres) near the border with mainland China into a centre of international innovation and technology, is to be an engine to drive the city’s economic growth and housing – and the gem of its economic integration with the mainland. We are pressed for time. Beijing has long... https://www.scmp.com/opinion/hong-kong-opinion/article/3350491/why-northern-metropolis-needs-more-one-big-push?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350491/why-northern-metropolis-needs-more-one-big-push?utm_source=rss_feed Mon, 20 Apr 2026 01:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong-headquartered Toys ‘R’ Us Asia has pivoted to an experience-focused format and smaller stores in the city following an expansion programme that sought to increase its outlets as it navigates the changing retail landscape. The group planned to close the year with 20 stores in Hong Kong, representing a 40 per cent rise from 2025, said Leo Tsoi, CEO of the toys and collectibles retailer. The strategy allows the group to be more nimble and adapt to the demographic shift, as toys and... https://www.scmp.com/business/article/3350624/toys-r-us-game-changer-kidults-compact-shops-fuel-pivot-hong-kong-retail-evolves?utm_source=rss_feed https://www.scmp.com/business/article/3350624/toys-r-us-game-changer-kidults-compact-shops-fuel-pivot-hong-kong-retail-evolves?utm_source=rss_feed Mon, 20 Apr 2026 00:30:13 +0000 Enoch Yiu Enoch Yiu Global retail investors have pulled back into cash amid uncertainties from Middle East conflicts, while high-net-worth clients have continued to pursue investment opportunities in Asia and alternative assets, according to the CEO of Schroders. “What we saw in March was a reversal of the trend that we had seen at the end of 2025 and in January and February, when people increased their interest in investing in stocks,” said Richard Oldfield, global CEO of Schroders. “What really happened in March... https://www.scmp.com/business/banking-finance/article/3350531/global-retail-investors-shift-cash-asia-still-draws-wealthy-clients-schroders-ceo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3350531/global-retail-investors-shift-cash-asia-still-draws-wealthy-clients-schroders-ceo?utm_source=rss_feed Sun, 19 Apr 2026 23:30:10 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers’ strong demand for new flats extended a streak of brisk sales for developers with one project selling out in a single day, underscoring the city’s broader recovery in housing prices. All 88 units at the Pavilia Farm III project by New World Development and MTR Corporation in Sha Tin were sold on Saturday, prompting the developers to put 75 more flats on sale later that night. Elsewhere in Kai Tak, 133 units of KT Marina II were snapped up over the weekend, according to... https://www.scmp.com/property/hong-kong-china/article/3350638/hong-kong-homebuyers-extend-sell-out-streak-amid-renewed-confidence-market?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3350638/hong-kong-homebuyers-extend-sell-out-streak-amid-renewed-confidence-market?utm_source=rss_feed Sun, 19 Apr 2026 13:10:25 +0000 Matthew Cheng Matthew Cheng Hong Kong should take a more proactive approach to removing barriers hindering the cross-border flow of people, capital, goods and data with neighbouring Shenzhen, analysts have said, as the new leadership of the mainland China tech hub signals a fresh push for deeper integration. The calls for action followed the appointment of Jin Lei, an economist and former official in Sichuan province, as Shenzhen’s Communist Party chief last month, succeeding Meng Fanli, who has since been named the... https://www.scmp.com/news/hong-kong/politics/article/3350627/hong-kong-urged-be-more-proactive-removing-barriers-shenzhen?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3350627/hong-kong-urged-be-more-proactive-removing-barriers-shenzhen?utm_source=rss_feed Sun, 19 Apr 2026 10:13:39 +0000 Natalie Wong,Leopold Chen Natalie Wong,Leopold Chen Hong Kong is set to announce on Monday a new batch of “strategic enterprises” establishing a presence in the city, including several firms with market capitalisations of up to HK$100 billion (US$12.8 billion), the finance chief has revealed. Financial Secretary Paul Chan Mo-po said on Sunday that the new partners were in high-growth sectors, including life and health technology, the low-altitude economy, artificial intelligence (AI), new energy materials and fintech. “Those life and health... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350608/new-firms-hk100-billion-market-capitalisation-set-shop-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350608/new-firms-hk100-billion-market-capitalisation-set-shop-hong-kong?utm_source=rss_feed Sun, 19 Apr 2026 05:04:23 +0000 Edith Lin Edith Lin David Chan* is among the few remaining ship machinery maintenance masters at the Po Chong Wan temporary industrial area in Hong Kong’s Aberdeen. Chan, in his seventies, entered the trade in the 1960s as an apprentice in Ap Lei Chau, an islet off Aberdeen, repairing propellers, gearboxes and other machinery on wooden fishing boats and cargo ships. At the time, the area was one of the city’s four major fishing villages. After years of hard work, he went solo and relocated to the Po Chong Wan site... https://www.scmp.com/news/hong-kong/society/article/3350591/no-mood-work-veteran-ship-mechanics-future-clouded-aberdeen-marina-project?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3350591/no-mood-work-veteran-ship-mechanics-future-clouded-aberdeen-marina-project?utm_source=rss_feed Sun, 19 Apr 2026 04:00:16 +0000 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 SCMP Editorial SCMP Editorial The adage that there is no such thing as a free lunch has stood the test of time. Tour package deals that are too good to be true are no exception. When the real cost emerges, they can spark disputes that inflict a reputational cost on the tourism industry, a pillar of Hong Kong’s economy. A case in point has just resulted in the revocation of a travel agency’s licence by the Travel Industry Authority. One of its tour guides allegedly tried to coerce mainland tourists into shopping at designated... https://www.scmp.com/opinion/comment/article/3350429/stamp-out-coercive-shopping-tours-uphold-hong-kongs-reputation?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3350429/stamp-out-coercive-shopping-tours-uphold-hong-kongs-reputation?utm_source=rss_feed Sat, 18 Apr 2026 23:15:11 +0000 Ryan Ip,Jason Leung Yeuk-ho,Wenhui Jia Ryan Ip,Jason Leung Yeuk-ho,Wenhui Jia For a Chinese enterprise venturing overseas, the first decision is often not which market to enter, but which city to launch from. And that choice increasingly narrows to Hong Kong or Singapore. Both offer deep capital markets, common law systems and Chinese-speaking talent. Both want to be the trusted first stop. But a gap has emerged – not in what the two cities offer on paper, but in how they treat the enterprises they both want. What does a “launch pad” deliver? It is where a Chinese... https://www.scmp.com/opinion/hong-kong-opinion/article/3350196/how-hong-kong-can-beat-singapore-launch-pad-chinese-firms?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3350196/how-hong-kong-can-beat-singapore-launch-pad-chinese-firms?utm_source=rss_feed Sat, 18 Apr 2026 21:30:08 +0000