https://www.scmp.com/rss/330539/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Georgina Lee Georgina Lee Binance, the world’s largest cryptocurrency exchange, is preparing to launch its payment and trading services in Dubai, as it seeks to set up its first headquarters in the Middle East and rebuild legitimacy. The exchange is working with local banks and recruiting country managers and compliance officers in Dubai and in Bahrain, with the service expected to launch as early as June, according to Richard Teng, regional head of Middle East and North Africa, who is based in Dubai. Binance is planning... https://www.scmp.com/business/banking-finance/article/3178534/binance-readies-licensed-cryptocurrency-platform-middle?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3178534/binance-readies-licensed-cryptocurrency-platform-middle?utm_source=rss_feed Sun, 22 May 2022 05:30:17 +0000 Hong Kong has a reputation as an international centre of finance – a fast-paced metropolis with a globally-renowned, constantly changing skyline of some of the most eye-catching buildings in the world. Amid the gleaming skyscrapers jostling for space in the parcels of land available, another wave of development is happening – a digital revolution that is changing the way developers and owners operate, leading to a greater focus on people and responsibly-built environments. For those who are... https://www.scmp.com/business/article/3176295/how-digital-revolution-redefining-way-property-owners-design-operate-and?utm_source=rss_feed https://www.scmp.com/business/article/3176295/how-digital-revolution-redefining-way-property-owners-design-operate-and?utm_source=rss_feed Tue, 03 May 2022 04:00:23 +0000 Registrations for a digital payments system developed by the Hong Kong Monetary Authority (HKMA) have crossed the 10 million milestone for the first time since its launch in September 2018, suggesting that the coronavirus pandemic has hastened the city’s shift to digital banking services. Faster Payment System (FPS), which was developed by the HKMA, the city’s de facto central bank, for people to transfer money online between different banks, reached 10.1 million registrations last month. The... https://www.scmp.com/business/banking-finance/article/3174810/hong-kongs-faster-payment-system-crosses-10-million?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3174810/hong-kongs-faster-payment-system-crosses-10-million?utm_source=rss_feed Tue, 19 Apr 2022 12:16:38 +0000 Hypebeast, a media-cum-e-commerce platform that focuses on fashion and design, said it will merge with US special purpose acquisition company (SPAC) Iron Spark in a deal that will value it at US$352.7 million, including debt, with a second listing on the Nasdaq. Listed in Hong Kong since 2016, Hypebeast disclosed the merger in a stock exchange announcement on Monday. The merger with the SPAC will also inject up to US$167 million in cash into the firm, which was raised by the blank-cheque company... https://www.scmp.com/business/banking-finance/article/3173047/sneaker-enthusiast-media-firm-hypebeast-gets-tom-brady-and?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3173047/sneaker-enthusiast-media-firm-hypebeast-gets-tom-brady-and?utm_source=rss_feed Tue, 05 Apr 2022 04:00:22 +0000 The South China Morning Post has scooped up five major wins at the 2022 Digiday TV and Video Awards, beating back strong competition from across the international media landscape. The winners were announced on March 24 in 33 award categories highlighting some of the world’s best initiatives, strategies and video series in digital and broadcast media over the past year. Premium Post video series SCMP Films, which showcases character-driven stories from across Asia, won Best Facebook Watch... https://www.scmp.com/news/hong-kong/society/article/3172457/south-china-morning-post-scoops-major-accolades-2022-digiday?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3172457/south-china-morning-post-scoops-major-accolades-2022-digiday?utm_source=rss_feed Wed, 30 Mar 2022 13:08:05 +0000 The number of multimillionaires in Hong Kong expanded last year at a faster clip than the global average, a trend that is likely to support demand for tokenisation and digital ownership of property, according to a Knight Frank survey. The pool of so-called ultra high-net-worth individuals (UHNWIs) in the city grew 11 per cent to 7,593, of which 30 per cent were under 40, the property consultancy said in its Wealth Report published on Tuesday. Globally, the size increased by 9.3 per cent to... https://www.scmp.com/business/article/3168655/rich-and-under-40-growing-rank-multimillionaires-bodes-well-digital?utm_source=rss_feed https://www.scmp.com/business/article/3168655/rich-and-under-40-growing-rank-multimillionaires-bodes-well-digital?utm_source=rss_feed Tue, 01 Mar 2022 00:30:19 +0000 Georgina Lee Georgina Lee The fusty world of antiques is getting a youthful breath of fresh air, thanks to non-fungible tokens (NFTs). A growing number of art galleries and dealers are using the blockchain to mint NFTs for ancient artefacts, ushering in a group of younger, tech-savvy clients. Last May, Hong Kong-based Wui Po Kok Antique launched a two-part sale of 60 tokens that are linked to two legendary weapons from the Chinese Qing and Han dynasties. One batch of 30 NFTs is linked to a bronze, ceremonial sword from... https://www.scmp.com/business/money/investment-products/article/3164835/antiques-find-new-appeal-young-tech-savvy?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/3164835/antiques-find-new-appeal-young-tech-savvy?utm_source=rss_feed Thu, 27 Jan 2022 00:00:21 +0000 China’s president has outlined his vision of a digital economy with 5G connectivity as its backbone and nationwide data management at its core, as he channelled the forces of technology to serve socioeconomic development in the world’s second-largest economy. “The development of the digital economy is of great significance, and a strategy to grasp new opportunities in technological revolution and industrial transformation,” President Xi Jinping wrote in a bylined article on Saturday in the... https://www.scmp.com/business/china-business/article/3163534/his-own-words-chinas-president-outlines-vision-digital?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3163534/his-own-words-chinas-president-outlines-vision-digital?utm_source=rss_feed Sat, 15 Jan 2022 12:15:22 +0000 Hong Kong’s small and medium-sized enterprises have embraced digitisation, adapting to new consumer preferences shaped by the Covid-19 pandemic, according to a PayPal survey. The survey showed that 87 per cent of small businesses used their own digital channels for marketing and sales, including e-commerce websites, company-owned platforms and social media. Almost one in five reported a positive business experience during the pandemic, ranging from an upswing in demand to an increase in online... https://www.scmp.com/business/companies/article/3162427/hong-kong-smes-digitisation-efforts-have-paid-during-covid-19?utm_source=rss_feed https://www.scmp.com/business/companies/article/3162427/hong-kong-smes-digitisation-efforts-have-paid-during-covid-19?utm_source=rss_feed Fri, 07 Jan 2022 04:30:32 +0000 Georgina Lee Georgina Lee A growing number of artists and cryptocurrency exchanges are riding the popularity of non fungible tokens (NFTs) to launch blockchain-based fundraising campaigns for philanthropic causes. The buzz surrounding non fungible tokens has helped artists such as Mike Winkelmann, a digital artist better known as Beeple, fetch a record US$69 million for NFT artwork at Christies’ online auction in March. Rapper Snoop Dogg also auctioned his NFT Decentral Eyes Dogg, featuring his new audio track and... https://www.scmp.com/business/banking-finance/article/3161091/how-artists-cryptocurrency-exchanges-are-using-nft-sales?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3161091/how-artists-cryptocurrency-exchanges-are-using-nft-sales?utm_source=rss_feed Mon, 27 Dec 2021 05:30:20 +0000 Hong Kong’s first “e-visas” will be issued from next Tuesday, as the Immigration Department rolls out a new online application process, with non-local graduates and foreign domestic helpers being among the first to benefit. All visas are expected to be digitised by the second half of 2022, with eligible individuals able to apply, collect and pay for them online. Applicants will have the option to submit forms on the department’s website or mobile application, as well as the GovHK website. While... https://www.scmp.com/news/hong-kong/law-and-crime/article/3160727/passport-stickers-disappear-hong-kongs-immigration?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3160727/passport-stickers-disappear-hong-kongs-immigration?utm_source=rss_feed Wed, 22 Dec 2021 13:15:33 +0000 Josh Ye Josh Ye The term “metaverse” is suddenly everywhere, a buzzword constantly on the lips of tech gurus and cryptocurrency enthusiasts. But the latest group taking an interest in what many believe to be the next iteration of the internet is made up of property tycoons and real estate professionals keen to buy up land in the digital world. Virtual land sales have become one of the hottest new trends in a tech world increasingly fascinated with the metaverse, a shared, immersive 3D space where people can... https://www.scmp.com/tech/big-tech/article/3159534/hong-kong-property-tycoons-brokers-snap-virtual-land-metaverse?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3159534/hong-kong-property-tycoons-brokers-snap-virtual-land-metaverse?utm_source=rss_feed Tue, 14 Dec 2021 00:30:25 +0000 Georgina Lee Georgina Lee Regulators should reach an agreement on how to define activities in the US$247 billion industry of decentralised finance, or DeFi, as existing rules are ill-suited for safeguarding against risks stemming from such crypto-lending services, says New York-based crypto exchange Gemini. The comment followed the exchange’s launch of a lending programme in Hong Kong last month, which allows users to store and earn interest on 60 cryptocurrencies and stable coins. Gemini’s platform promises an... https://www.scmp.com/business/banking-finance/article/3159400/crypto-exchange-gemini-says-defi-lending-risks-require-new?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3159400/crypto-exchange-gemini-says-defi-lending-risks-require-new?utm_source=rss_feed Sun, 12 Dec 2021 08:51:54 +0000 Hong Kong’s banking industry is making sure its embrace of virtual banking and electronic services does not leave anyone behind, as they reach back to paper forms to cater to the city’s rapidly greying population. Over the next six months, each of the 160 banks and over 300 deposit-taking companies in the city will have to ensure they are able to serve elderly customers and less tech-savvy users, according to a new code of conduct announced on Friday by the Hong Kong Association of Banks (HKAB)... https://www.scmp.com/business/banking-finance/article/3159252/new-rules-ensure-hong-kong-banks-make-services-easily?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3159252/new-rules-ensure-hong-kong-banks-make-services-easily?utm_source=rss_feed Fri, 10 Dec 2021 10:27:24 +0000 The Shanghai Data Exchange opened for business on Thursday, marking China’s latest attempt to build a vast market for data – dubbed the new oil of the digital economy – which can be sorted, priced and traded like regular commodities. The new exchange, which started trading on Thursday, initially offered 20 data products, including flight information from China Eastern Airlines, and various data from telecommunications network operators China Mobile, China Unicom and China Telecom. One of the... https://www.scmp.com/tech/article/3157562/how-buy-and-sell-data-shanghai-starts-new-exchange-trading-massive-amounts?utm_source=rss_feed https://www.scmp.com/tech/article/3157562/how-buy-and-sell-data-shanghai-starts-new-exchange-trading-massive-amounts?utm_source=rss_feed Sat, 27 Nov 2021 00:00:32 +0000 Earlier this year, British artist Damien Hirst created “The Virtues”, a series of cherry blossom prints each named after one of the eight virtues of bushido – Japan’s old samurai code. Which is his favourite? “I like politeness,” he says, on a video call from his London studio. This is such an unexpected answer that he pulls out his phone, politely, to confirm it’s on the bushido list and, yes, it’s between mercy and honesty. “Politeness seems to be the weakest but there’s incredible strength in... https://www.scmp.com/lifestyle/arts-culture/article/3156325/damien-hirst-his-nft-art-currency-hong-kong-show-and-war?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3156325/damien-hirst-his-nft-art-currency-hong-kong-show-and-war?utm_source=rss_feed Wed, 17 Nov 2021 20:15:19 +0000 https://www.scmp.com/news/article/3152417/hong-kongs-disco-days-child-labour-setback-and-iconic-indomie?utm_source=rss_feed https://www.scmp.com/news/article/3152417/hong-kongs-disco-days-child-labour-setback-and-iconic-indomie?utm_source=rss_feed Fri, 15 Oct 2021 06:00:16 +0000 Chinese Communist Party officials should not become over-reliant on big data but be mindful of the “human factors” in their decision-making on matters involving grass-roots members, according to a Chinese academic. While big data has played a pivotal role in supercharging the economy, cadres responsible for “party building” should not fall for the “myth of data”, Hua Yong, a professor at East China University of Political Science and Law in Shanghai, said in a paper published this month. There... https://www.scmp.com/news/china/politics/article/3129029/communist-party-should-not-be-overreliant-big-data-academic?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3129029/communist-party-should-not-be-overreliant-big-data-academic?utm_source=rss_feed Sat, 10 Apr 2021 12:44:57 +0000 Chinese banks are accelerating the pace of bank branch closures this year as they seek to ramp up digital services and reduce costs. Mainland lenders have closed 430 bricks-and-mortar locations in the first three months of this year, mainland media reported citing the China Banking and Insurance Regulatory Commission, that’s at a faster clip than 1,300 closures last year. The country already boasts one of the world’s highest rates for transactions completed away from physical bank locations,... https://www.scmp.com/business/banking-finance/article/3128799/chinese-banks-cut-branches-faster-pace-costs-bite-and?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3128799/chinese-banks-cut-branches-faster-pace-costs-bite-and?utm_source=rss_feed Thu, 08 Apr 2021 23:30:04 +0000 Literature has long inspired other art forms. Nineteenth-century painter Sir John Everett Millais famously depicted, on canvas, the tragic death of Shakespearean character Ophelia, in Hamlet, in his eponymous painting. Many of the longest running Broadway shows such as The Phantom of the Opera, Wicked and Les Miserables were all inspired by literary classics. In 2010, a “sculptural” book called Tree of Codes was published, created by bestselling American author Jonathan Safran Foer, who cut up... https://www.scmp.com/native/lifestyle/arts-culture/topics/when-artworks-click/article/3105641/how-artist-has-turned?utm_source=rss_feed https://www.scmp.com/native/lifestyle/arts-culture/topics/when-artworks-click/article/3105641/how-artist-has-turned?utm_source=rss_feed Fri, 16 Oct 2020 06:30:13 +0000 This article originally appeared on ABACUS Even before the Covid-19 pandemic drove courts to move online, China’s internet courts were already conducting hearings via video calls. But with lockdowns preventing judges from going back to their offices, Beijing’s internet court developed a “virtual court system” that allows them to access case information and handle daily cases from home. But that’s not all. With business largely having returned to normal in China now, Beijing’s internet court has... https://www.scmp.com/abacus/news-bites/article/3084636/judges-can-now-hold-hearings-beijings-tiny-virtual-court-cabins?utm_source=rss_feed https://www.scmp.com/abacus/news-bites/article/3084636/judges-can-now-hold-hearings-beijings-tiny-virtual-court-cabins?utm_source=rss_feed Fri, 15 May 2020 11:53:22 +0000 Even before the Covid-19 pandemic drove courts to move online, China’s internet courts were already conducting hearings via video calls. But with lockdowns preventing judges from going back to their offices, Beijing’s internet court developed a “virtual court system” that allows them to access case information and handle daily cases from home. But that’s not all. With business largely having returned to normal in China now, Beijing’s internet court has also set up what it calls “virtual court... https://www.scmp.com/china-tech-city/judges-can-now-hold-hearings-beijings-tiny-virtual-court-cabins/article/3084631?utm_source=rss_feed https://www.scmp.com/china-tech-city/judges-can-now-hold-hearings-beijings-tiny-virtual-court-cabins/article/3084631?utm_source=rss_feed Fri, 15 May 2020 11:53:20 +0000 Imagine this: A hotel receptionist is handed a lost wallet. It contains, among other things, several identical business cards with a name and email address. Will the receptionist reach out to the apparent owner of the wallet? It turns out, the answer is more likely to be a ‘no’ when you’re in China rather than countries like the United States, Canada and Switzerland. That’s according to a new study led by a team of American and Swiss researchers who published their findings in Science... https://www.scmp.com/digital-life/are-people-china-less-honest-americans-and-europeans/article/3015501?utm_source=rss_feed https://www.scmp.com/digital-life/are-people-china-less-honest-americans-and-europeans/article/3015501?utm_source=rss_feed Mon, 24 Jun 2019 10:08:01 +0000 This article originally appeared on ABACUS Imagine this: A hotel receptionist is handed a lost wallet. It contains, among other things, several identical business cards with a name and email address. Will the receptionist reach out to the apparent owner of the wallet? It turns out, the answer is more likely to be a ‘no’ when you’re in China rather than countries like the United States, Canada and Switzerland. That’s according to a new study led by a team of American and Swiss researchers who... https://www.scmp.com/abacus/games/article/3029437/are-people-china-less-honest-americans-and-europeans?utm_source=rss_feed https://www.scmp.com/abacus/games/article/3029437/are-people-china-less-honest-americans-and-europeans?utm_source=rss_feed Mon, 24 Jun 2019 10:08:01 +0000 While the city of Hong Kong sleeps, the presses at the South China Morning Post’s Tai Po factory are in full gear. A day here begins at 3 p.m., when the factory starts receiving proofs of the next day’s paper. Every hour, each of the facility’s 18 presses churns out 50,000 to 60,000 copies. They don’t stop until 6 a.m. the next day. “Even in the worst typhoons, we have to go to work,” says Clare Chu, the plant’s operations director. This is the life that the factory’s 95 workers have chosen.... https://www.scmp.com/videos/inside-one-hong-kongs-last-newspaper-factories/article/3000229?utm_source=rss_feed https://www.scmp.com/videos/inside-one-hong-kongs-last-newspaper-factories/article/3000229?utm_source=rss_feed Tue, 06 Nov 2018 11:41:14 +0000 It’s 2018, and Chinese airlines are finally allowing people to use their phones on planes. Foreigners used to using their phones on flights elsewhere in the world may have found traveling on Chinese airlines frustrating because you were required to keep them turned off completely throughout the whole flight. That’s right: Airplane mode is not an option on airplanes in China. In fairness, the rule isn’t always strictly enforced, but if flight attendants see you use your phone, they will come and... https://www.scmp.com/digital-life/you-can-finally-play-your-phone-chinese-flight/article/2130281?utm_source=rss_feed https://www.scmp.com/digital-life/you-can-finally-play-your-phone-chinese-flight/article/2130281?utm_source=rss_feed Thu, 18 Jan 2018 11:45:00 +0000 This article originally appeared on ABACUS It’s 2018, and Chinese airlines are finally allowing people to use their phones on planes. Foreigners used to using their phones on flights elsewhere in the world may have found traveling on Chinese airlines frustrating because you were required to keep them turned off completely throughout the whole flight. That’s right: Airplane mode is not an option on airplanes in China. In fairness, the rule isn’t always strictly enforced, but if flight attendants... https://www.scmp.com/abacus/tech/article/3028292/you-can-finally-play-your-phone-chinese-flight?utm_source=rss_feed https://www.scmp.com/abacus/tech/article/3028292/you-can-finally-play-your-phone-chinese-flight?utm_source=rss_feed Thu, 18 Jan 2018 11:45:00 +0000