https://www.scmp.com/rss/35056/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com [Sponsored article] More than one in five people in Hong Kong suffer from neurological disorders, which range from migraines and depression to epilepsy. Such conditions have typically been treated with medications, but they are not always effective – for example, anti-epileptic drugs help control seizures in around seven out of 10 patients. Now, innovations in medical technology offer hope with easy-to-use and effective treatments. Hong Kong start-up Neuropix Company Ltd has developed a wearable... https://www.scmp.com/native/tech/topics/city-it-grand-challenge-showcase/article/3206959/winning-idea-hong-kongs-city-it-grand-challenge-transforms-treatment-neurological-disorders?utm_source=rss_feed https://www.scmp.com/native/tech/topics/city-it-grand-challenge-showcase/article/3206959/winning-idea-hong-kongs-city-it-grand-challenge-transforms-treatment-neurological-disorders?utm_source=rss_feed Wed, 18 Jan 2023 06:00:14 +0000 [Sponsored article] Nine-year-old Liang Yonger loves books, and her favourite activity is reading fairy tales with her mother. But this girl growing up in Changliu village in Guangdong province knows that is a pleasure many of her friends do not get to enjoy, as they are “left-behind” children. In this rural village, these children are being raised by grandparents or other relatives because their parents have moved away to work in distant cities. “I don’t think they’re actually happy, because it... https://www.scmp.com/presented/lifestyle/topics/towards-sustainable-world/article/3166989/china-left-behind-children?utm_source=rss_feed https://www.scmp.com/presented/lifestyle/topics/towards-sustainable-world/article/3166989/china-left-behind-children?utm_source=rss_feed Tue, 15 Feb 2022 04:00:20 +0000 [Sponsored article] The innovation and technology (I&T) sector has traditionally been dominated by men, but the situation is changing. Scuba-diving enthusiast Vriko Yu, CEO of archiREEF, was inspired to launch her start-up after seeing the devastating impact climate change was having on marine life, making her one of a growing number of women who are working in the I&T field. “When I realised that coral reefs can disappear within just two months, and I witnessed that in person, I was really... https://www.scmp.com/presented/tech/topics/reach-sky/article/3160914/start-ups-use-3d-printing-restore-coral-reefs?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/reach-sky/article/3160914/start-ups-use-3d-printing-restore-coral-reefs?utm_source=rss_feed Tue, 28 Dec 2021 02:00:13 +0000 [Sponsored article] In this fast-changing world, innovation has become the key to solving new challenges that arise in our everyday lives. Hong Kong has the growing pool of talent and fresh ideas needed to succeed on this front. The city has emerged as a regional hub for innovation and technology (I&T). As of 2021, more than 3,700 start-ups were based in Hong Kong, and that number continues to rise. To help nurture future growth in this area, the City I&T Grand Challenge debuted last year.... https://www.scmp.com/presented/tech/topics/ideas-impact/article/3157838/city-it-grand-challenge-spotlights-new-ideas?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/ideas-impact/article/3157838/city-it-grand-challenge-spotlights-new-ideas?utm_source=rss_feed Fri, 10 Dec 2021 02:00:19 +0000 [Sponsored article] Every day, Hong Kong disposes of up to 3,500 tonnes of food waste, according to the Environment Bureau. That’s equivalent to the combined weight of around 500 male African elephants. Four students at the Hong Kong University of Science and Technology (HKUST) got a first-hand look at such waste as bakeries near their campus threw away unsold goods such as bread, cakes and sandwiches at the end of each day. “We realised food waste is a problem we would love to solve, but at... https://www.scmp.com/presented/tech/topics/ideas-impact/article/3157167/winning-innovation-beer-bread-ar-app-online-learning?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/ideas-impact/article/3157167/winning-innovation-beer-bread-ar-app-online-learning?utm_source=rss_feed Thu, 25 Nov 2021 02:00:22 +0000 [Sponsored article] It is four years since international economic observers began to acclaim data as a more valuable resource than oil, yet discussions about the topic and – more importantly – its estimated economic worth, are showing no signs of waning. Consultancy firm McKinsey & Company has predicted that using advanced analytics and artificial intelligence (AI) to harness data will create between US$9.5 trillion and US$15.4 trillion of economic value annually, while the Organisation for... https://www.scmp.com/presented/tech/topics/digitalised-industry/article/3149806/hong-kong-hi-tech-data-technology-hub?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/digitalised-industry/article/3149806/hong-kong-hi-tech-data-technology-hub?utm_source=rss_feed Wed, 29 Sep 2021 01:55:12 +0000 [Sponsored article] Today Hong Kong has a thriving innovation and technology (I&T) ecosystem with 3,360 start-ups producing world-class innovations. With strong government-backing, supportive infrastructure and a prime location within the Guangdong-Hong Kong-Macao Greater Bay Area megalopolis, the city is fast developing into an international I&T hub. Up to now it has not been easy to showcase the achievements of Hong Kong tech companies to potential investors, industry partners and the general... https://www.scmp.com/presented/tech/topics/ideas-impact/article/3147716/how-hong-kongs-hands-experience-centre-showcases?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/ideas-impact/article/3147716/how-hong-kongs-hands-experience-centre-showcases?utm_source=rss_feed Tue, 07 Sep 2021 02:00:25 +0000 [Sponsored article] Automation is transforming the logistics industry, with robotic solutions increasing productivity and reducing the time it takes to get products to customers amid increasing e-commerce demand around the world. With these changes, the value of the logistics automation market is expected to nearly double from US$52.19 billion in 2020 to US$104.23 billion by 2026, according to research firm Mordor Intelligence. In addition, the Asia-Pacific region is currently seeing the fastest... https://www.scmp.com/presented/tech/topics/pioneering-spirit/article/3145330/how-tech-unicorn-geek-nurturing-new?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/pioneering-spirit/article/3145330/how-tech-unicorn-geek-nurturing-new?utm_source=rss_feed Wed, 18 Aug 2021 02:00:22 +0000 [Sponsored article] The Greater Bay Area (GBA) is drawing attention as a fast-developing innovation and technology hub that offers exciting opportunities to start-ups from around the world. Hong Kong is positioned as an important gateway to access this vibrant ecosystem, as well as the 72 million-person-strong consumer market that comes with it. In mainland China, home-grown tech start-ups are leveraging prototyping and manufacturing capabilities, with research and development facilities growing... https://www.scmp.com/presented/tech/topics/future-unlimited/article/3132665/how-does-greater-bay-area-raise-unicorns?utm_source=rss_feed https://www.scmp.com/presented/tech/topics/future-unlimited/article/3132665/how-does-greater-bay-area-raise-unicorns?utm_source=rss_feed Mon, 10 May 2021 03:57:41 +0000 [Sponsored article] Over the past decade, South West Kowloon has developed into the new jewel of Hong Kong. Its strategically central position on the city’s map has seen it benefit from successive government development projects, transforming it into an ideally connected, visually dynamic, world-class destination. This extensive investment has led to South West Kowloon becoming one of Hong Kong’s most appealing waterfront neighbourhoods. This stretch of the Kowloon Peninsula – created... https://www.scmp.com/presented/lifestyle/topics/waterfront-living-south-west-kowloon/article/3124547/south-west-kowloon?utm_source=rss_feed https://www.scmp.com/presented/lifestyle/topics/waterfront-living-south-west-kowloon/article/3124547/south-west-kowloon?utm_source=rss_feed Wed, 24 Mar 2021 01:00:20 +0000 [Sponsored article] Resilience is part of Hong Kong’s “natural DNA”. The experience and insights gained by the city’s residents and businesses during 2003’s deadly spread of severe acute respiratory syndrome (Sars) meant it was quick to introduce best practices after the outbreak of the coronavirus disease, Covid-19. The rapid response enabled Hong Kong to avoid implementing the same strict lockdown measures imposed in many places around the world. Confidence in the city’s innovative spirit and... https://www.scmp.com/presented/business/topics/wrldcty-hong-kong/article/3118669/hong-kong-resilience-covid-19?utm_source=rss_feed https://www.scmp.com/presented/business/topics/wrldcty-hong-kong/article/3118669/hong-kong-resilience-covid-19?utm_source=rss_feed Tue, 02 Feb 2021 01:00:07 +0000 Dim sum is a Chinese dish that has long been bringing Hong Kong people together and helping them to connect with each other. The culinary icon, which features small steamed or fried savoury dumplings containing various fillings, remains one of the most recognisable parts of the city’s local culture. Traditionally eaten for breakfast and lunch, dim sum is most commonly prepared and consumed outside the home and is best enjoyed in a group setting. Restaurants serving dim sum are typically packed... https://www.scmp.com/native/lifestyle/topics/wrldcty-hong-kong/article/3116625/culinary-icon-dim-sum-connects-hong-kong?utm_source=rss_feed https://www.scmp.com/native/lifestyle/topics/wrldcty-hong-kong/article/3116625/culinary-icon-dim-sum-connects-hong-kong?utm_source=rss_feed Wed, 20 Jan 2021 01:00:16 +0000 Financial technology (fintech) and artificial intelligence (AI) have the potential to transform everything from managing risk, to boosting financial inclusion. Industry leaders and investors at November’s Hong Kong FinTech Week 2020 discussed how humanising fintech could not only improve the bottom line of businesses but also significantly enhance the lives of consumers. The fully virtual event held from November 2 to 6, which attracted over 1.2 million viewers and led to more than 18,000... https://www.scmp.com/presented/tech/innovation/topics/fintech-fast-track/article/3111963/how-fintech-and-ai-will-boost?utm_source=rss_feed https://www.scmp.com/presented/tech/innovation/topics/fintech-fast-track/article/3111963/how-fintech-and-ai-will-boost?utm_source=rss_feed Wed, 02 Dec 2020 06:07:19 +0000 [Sponsored article] The global number of infections of the coronavirus disease, Covid-19, is continuing to climb – and at an accelerating rate. While it took three months for the first 1 million people to be infected, by June, the six-month anniversary of the outbreak, the number had reached 10 million, resulting in 500,000 deaths. By November 1, nearly 46 million cases and 1.2 million deaths had been reported globally. One reason for the rises is the virus’ ability to survive in the air, as... https://www.scmp.com/presented/tech/innovation/topics/worlds-lab/article/3108541/3-hong-kong-hi-tech-firms-rapid?utm_source=rss_feed https://www.scmp.com/presented/tech/innovation/topics/worlds-lab/article/3108541/3-hong-kong-hi-tech-firms-rapid?utm_source=rss_feed Fri, 20 Nov 2020 01:00:00 +0000 [Sponsored Article] Cancer is the second leading cause of death around the world, and in 2018 was responsible for an estimated 9.6 million fatalities – the equivalent of one in six deaths. Figures published in October 2019 by the Hong Kong Cancer Registry – part of Hong Kong Hospital Authority – highlighted more than 33,000 cases of cancer diagnosed in the city annually, while new cancer cases had jumped by 5.1 per cent in 12 months. The rising number of new patients each year means there is an... https://www.scmp.com/presented/lifestyle/health-wellness/topics/healthy-living-tech-good/article/3088355?utm_source=rss_feed https://www.scmp.com/presented/lifestyle/health-wellness/topics/healthy-living-tech-good/article/3088355?utm_source=rss_feed Wed, 10 Jun 2020 03:26:18 +0000 Nicky Burridge Nicky Burridge The global luxury goods market is enjoying an upswing, thanks to growing wealth among mainland Chinese consumers, along with digitisation and “millenialisation” – adapting to young customers’ demand – that could further drive its growth. The market, valued at an estimated €1.2 trillion (US$1.48 trillion) in 2017, is projected to expand at an annual compound rate of 4 to 5 per cent by 2020, according to management consultancy Bain & Co. In China, sales of personal luxury goods – clothes, handbags... https://www.scmp.com/business/global-economy/article/2139639/can-digitalisation-and-millennial-shoppers-sustain-luxury?utm_source=rss_feed https://www.scmp.com/business/global-economy/article/2139639/can-digitalisation-and-millennial-shoppers-sustain-luxury?utm_source=rss_feed Wed, 04 Apr 2018 01:30:33 +0000 In the final instalment of the mystery shopper series to test the quality of financial advice being given by banks, our reporter puts Wing Lung Bank to the test. As before, she posed as a 37-year-old expat mother of two who wanted to invest HK$10,000 a month into a pension. Financial needs analysis/risk assessment: No financial needs analysis or risk profiling is carried out. The adviser does not ask for how long the shopper wants to save or when she wants to retire, or how long she will be in... https://www.scmp.com/business/money/investment-products/article/1294265/poor-advice-wing-lung-fails-address-needs?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1294265/poor-advice-wing-lung-fails-address-needs?utm_source=rss_feed Sun, 04 Aug 2013 16:00:00 +0000 The South China Morning Post continues its mystery shopper series, this week looking at Citi. As with previous rounds, our reporter poses as a 37-year-old expat mother of two wanting to invest HK$10,000 a month. Financial needs analysis/risk assessment: The mystery shopper explains that she wants to save for her retirement. The adviser asks if she is looking for an investment or an insurance plan. The shopper asks for a suggestion and the adviser shows an insurance plan with principal... https://www.scmp.com/business/money/investment-products/article/1292612/bank-navigates-wrong-path-insurance-bias?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1292612/bank-navigates-wrong-path-insurance-bias?utm_source=rss_feed Sun, 28 Jul 2013 16:00:00 +0000 As part of a continuing series to test the quality of financial advice being offered by banks, the South China Morning Post put eight banks through their paces. This week our reporter visits Hang Seng Bank. As in previous rounds, she poses as a 37-year-old expatriate mother of two who wants to invest HK$10,000 a month into a pension. In the following, we describe the mystery shopper's experiences, and get an assessment of how the bank fared from the perspective of an independent financial... https://www.scmp.com/business/money/investment-products/article/1287815/hang-sengs-flexible-offers?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1287815/hang-sengs-flexible-offers?utm_source=rss_feed Sun, 21 Jul 2013 16:00:00 +0000 The South China Morning Post is conducting a mystery shopping series to test the quality of the financial advice offered by banks. This week we visit HSBC. As in previous exercises, our reporter poses as a 37-year-old expatriate mother of two who wants to invest HK$10,000 a month in a pension. And, as before, we summarise the shopper’s experience and get input from an independent financial adviser on how HSBC handles itself. We also include a response from the bank. Financial needs... https://www.scmp.com/business/money/investment-products/article/1282823/when-5-years-becomes-10?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1282823/when-5-years-becomes-10?utm_source=rss_feed Sun, 14 Jul 2013 16:38:58 +0000 In the latest round of our mystery shopping exercise, the South China Morning Post visited Standard Chartered to test the quality of the financial advice offered to customers. The reporter posed as a 37-year-old mother of two who wanted to invest HK$10,000 a month into a pension. Financial needs analysis/risk assessment: The adviser started off with a general chat about what the mystery shopper was saving for, when she wanted to retire, how long she planned to pay into her plan for and what her... https://www.scmp.com/business/money/investment-products/article/1277391/life-policy-offered-again?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1277391/life-policy-offered-again?utm_source=rss_feed Sun, 07 Jul 2013 16:00:00 +0000 As part of a series to test the quality of the financial advice being given by Hong Kong's banks, the South China Morning Post carried out a mystery shopping exercise at eight institutions. This week our reporter, who poses as a 37-year-old expat mother of two who wants to invest HK$10,000 a month into a pension, visits Bank of China. Risk assessment/financial needs analysis: Staff did no financial needs analysis or risk assessment. In fairness to Bank of China, the mystery shopper did not have... https://www.scmp.com/business/money/investment-products/article/1272665/split-decision-bank-china?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1272665/split-decision-bank-china?utm_source=rss_feed Sun, 30 Jun 2013 16:00:00 +0000 Planning for retirement should be viewed as a lifelong process requiring regular monitoring. Checking to make sure you're putting enough aside, and that the funds are hard at work earning returns in line with expectations, can help to avoid disappointment down the road.   How much do you need? The first stage of retirement planning is to try to work out how much is needed to cover your desired lifestyle. This is a complex calculation that depends on a number of factors, including at what age... https://www.scmp.com/magazines/money/article/1264332/golden-plans?utm_source=rss_feed https://www.scmp.com/magazines/money/article/1264332/golden-plans?utm_source=rss_feed Wed, 26 Jun 2013 16:00:00 +0000 If you have ever been turned down for a credit card or loan, chances are your credit report is to blame. A credit report is a summary of a consumer's history of borrowing and repaying money. Lenders use the reports to assess the risk of advancing further credit to customers, while in some cases the reports also influence the interest rate charged.   What is a credit report? Credit reports in Hong Kong are put together by a privately owned credit reference agency called TransUnion. The report is... https://www.scmp.com/magazines/money/article/1264333/credit-crunch?utm_source=rss_feed https://www.scmp.com/magazines/money/article/1264333/credit-crunch?utm_source=rss_feed Wed, 26 Jun 2013 16:00:00 +0000 In our "mystery shopper" series, our correspondent goes undercover to local banks, to assess the quality of their financial advice. This week our reporter visited DBS. As with last week's mystery shopping exercise, she posed as a 37-year-old expatriate mother of two who wanted to invest money for a pension, with HK$10,000 a month to invest and a medium attitude to risk. Risk assessment/financial needs analysis: The bank carried out no financial needs analysis or risk assessment. It did not even... https://www.scmp.com/business/money/investment-products/article/1267338/hk52m-payout-age-99?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1267338/hk52m-payout-age-99?utm_source=rss_feed Sun, 23 Jun 2013 16:00:00 +0000 In February last year, Leung Chung-yan, 27, had some potentially cancerous masses removed from her breasts. The kindergarten teacher did not have medical insurance to cover the operation and had to borrow money from her family to pay the bill. Worried that she would have to undergo more operations - her aunt was losing a long battle with breast cancer - she decided she better save some money. Knowing little about investing, Leung met a friend, Cat Lau, who worked at Convoy Financial Services, an... https://www.scmp.com/business/money/investment-products/article/1262327/hong-kong-consumers-angry-after-being-sold?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1262327/hong-kong-consumers-angry-after-being-sold?utm_source=rss_feed Sun, 16 Jun 2013 16:00:00 +0000 Hongkongers buy most of their investments through banks. They count on bank staff to recommend good instruments that suit their investment needs, income and risk appetite - rather than products that just help the adviser hit his sales quota. To get a sense of the quality of financial advice offered at banks, the South China Morning Post sent a correspondent to visit eight banks. We look at the amount of time bank staff spent getting to know the customer's needs, the quality of investments... https://www.scmp.com/business/money/investment-products/article/1262277/how-banks-fare-investment-advice?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1262277/how-banks-fare-investment-advice?utm_source=rss_feed Sun, 16 Jun 2013 16:00:00 +0000 Holidaymakers looking towards Japan as a destination this summer should think ahead when it comes to currency exchange. The yen's 19 per cent decline against the US dollar in six months means this could be a good time to purchase foreign exchange for the trip, even if you're not planning to embark for several weeks. Swapping from Hong Kong dollars into yen at these levels would essentially lock-in the depreciation of the last few months, although it could also mean you end up out of pocket if... https://www.scmp.com/business/money/money-news/article/1252197/take-advantage-cheap-yen-shopping-around?utm_source=rss_feed https://www.scmp.com/business/money/money-news/article/1252197/take-advantage-cheap-yen-shopping-around?utm_source=rss_feed Sun, 02 Jun 2013 16:00:00 +0000 Does it ever feel like all your money disappears on bills? That you are not really working for yourself at all, but rather for your landlord, a host of utility companies and the local food store? You might be intrigued to know how many days of the year you spend covering basic bills. For this breakdown, we looked at a Census and Statistics Department household expenditure survey done in 2009-10. Citi, a consumer bank, helped interpret the data. Unsurprisingly, the single biggest monthly outgoing... https://www.scmp.com/business/money/spending/article/1209301/price-freedom?utm_source=rss_feed https://www.scmp.com/business/money/spending/article/1209301/price-freedom?utm_source=rss_feed Sun, 07 Apr 2013 16:00:00 +0000 Credit cards do more than offer credit. They radiate aspiration - the top ones come with names like Ultima, Platinum and Infinite - and they come with perks. And it is for the perks that people most often think to use one card over another. When presented with a bill, Hong Kong diners will habitually ask the waiter if the restaurant is offering a credit card promotion. They will ask this while flipping open a wallet stuffed with plastic, ensuring they have a card for all plans. Sadly, on... https://www.scmp.com/business/money/spending/article/1173357/low-price-credit-card-loyalty?utm_source=rss_feed https://www.scmp.com/business/money/spending/article/1173357/low-price-credit-card-loyalty?utm_source=rss_feed Sun, 03 Mar 2013 16:00:00 +0000 Aneesah, from Pakistan, has been denied a bank account five times. She has been in Hong Kong for two years and wants to open an account to save some of the money her husband gives her for weekly housekeeping. That way, she would have some money of her own, and some for her two girls, aged eight and four. She took her passport, Hong Kong ID card and her mobile phone contract - as proof of her address - along to the bank. But the bank representative she spoke to said that was not enough and asked... https://www.scmp.com/business/money/article/1150993/local-banks-refuse-accounts-poor-and-ethnic-minorities?utm_source=rss_feed https://www.scmp.com/business/money/article/1150993/local-banks-refuse-accounts-poor-and-ethnic-minorities?utm_source=rss_feed Sun, 17 Feb 2013 16:00:00 +0000 City University professor Lindsay Miller was left with a HK$1.75 million loss after his adviser lied about where she had invested his money. Pauline Cousins, the former managing director of Crown Asset Management, claimed she had invested the lump sum in an investment-linked assurance scheme, even producing statements belonging to other clients to show how the investment was doing. But in reality, without Miller knowing, she had used the money to buy shares in a hi-tech company that was... https://www.scmp.com/business/money/markets-investing/article/1136028/beware-unscrupulous-financial-advisers?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1136028/beware-unscrupulous-financial-advisers?utm_source=rss_feed Sun, 27 Jan 2013 16:00:00 +0000 While most independent financial advisers are honest and professional, some will do whatever it takes to get clients to hand over their money. A former adviser from a large multinational firm talked to Money Post about some of the tactics he was told to use. The adviser wants to remain anonymous, which prevents Money Post from naming the firm. However, the firm and its tactics are well known in the advisory community. The adviser tells a story that could come straight from the pages of Glengarry... https://www.scmp.com/business/money/markets-investing/article/1136027/tales-dark-side-unscrupulous-advisers-and-their?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1136027/tales-dark-side-unscrupulous-advisers-and-their?utm_source=rss_feed Sun, 27 Jan 2013 16:00:00 +0000 Green envelopes are starting to arrive in the mail forcing Hongkongers turn their attention to something far less festive than cards: tax. For those who failed to set aside enough during the past year, help is at hand in the form of a tax loan. But which bank has the best deal? Deals vary among lenders, so shopping around is important. Many complicated deals are on offer so it is necessary to understand exactly what you will be charged. As a starting point, look for the annual percentage rate,... https://www.scmp.com/business/money/money-news/article/1109889/how-borrow-pay-taxes?utm_source=rss_feed https://www.scmp.com/business/money/money-news/article/1109889/how-borrow-pay-taxes?utm_source=rss_feed Sun, 23 Dec 2012 16:00:00 +0000 New rules enabling members of Hong Kong's Mandatory Provident Fund (MPF) to transfer their contributions to a provider of their choice have increased the range of funds. But with more than 460 from which to choose, you could be forgiven for feeling overwhelmed. Matters are not helped by jargon used to describe the funds. Money Post has assembled a concise guide for investors who don't know their dynamic allocation funds from their capital stable ones, to navigate through the fund maze. Choosing... https://www.scmp.com/business/money/investment-products/article/1089231/mpf-funds-choosers-guide?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1089231/mpf-funds-choosers-guide?utm_source=rss_feed Sun, 25 Nov 2012 16:00:00 +0000 New regulations came into force at the beginning of November giving employees more choice in where the money in their Mandatory Provident Fund accounts is invested. For the first time, workers are allowed to select their own trustee and fund for contributions they have paid into the MPF. With recent research by the Consumer Council showing that nearly half of all MPF funds have lost money during the past five years, the change could not come at a better time. We look at what the new rules mean... https://www.scmp.com/magazines/money/article/1080844/laying-nest-egg?utm_source=rss_feed https://www.scmp.com/magazines/money/article/1080844/laying-nest-egg?utm_source=rss_feed Sun, 18 Nov 2012 16:00:00 +0000 Hongkongers love to complain about their Mandatory Provident Fund. The government launched the plan in 2000 to address citizens' retirement needs. It implemented a fully free-market solution, handing the fund management and administration to the private sector. All well and good, and fully in keeping with the city's laissez-faire philosophy. However, the government made people's participation in the plan mandatory and, furthermore, let employers choose the MPF trust and fund manager used by... https://www.scmp.com/business/money/markets-investing/article/1074654/half-battle?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1074654/half-battle?utm_source=rss_feed Sun, 04 Nov 2012 16:00:00 +0000 Reader Lee Soon-hwa had trouble with a claim on his Zurich travel insurance policy. Lee had been on a 12-day trip to Italy with his wife and hired a car. Lee scratched the front bumper of the car and was charged €400 (HK$4,000) by the rental company. He paid the charge on May 30. As soon as he got back to Hong Kong on June 4, Lee contacted Zurich, as his Travelplus Gold  insurance policy included  hired vehicle excess coverage. Zurich told him to fill in a claim form and provide all the details,... https://www.scmp.com/business/money/investment-products/article/1049531/when-payback-time-drags?utm_source=rss_feed https://www.scmp.com/business/money/investment-products/article/1049531/when-payback-time-drags?utm_source=rss_feed Sun, 30 Sep 2012 16:00:00 +0000 You are sitting at home wondering how to get a decent return on your savings in the current low interest rate, volatile equity market environment when the phone rings. It is a commodities broker who deals in carbon credits. He has several hundred carbon credits left over from a massive corporate deal he has just done, and he is trying to find retail investors to buy them. The investment is a sure-fire winner, he tells you. He is selling the credits at a knockdown price, which he is able to offer... https://www.scmp.com/business/money/markets-investing/article/1042385/phone-and-e-mail-scams-dont-be-next-victim?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1042385/phone-and-e-mail-scams-dont-be-next-victim?utm_source=rss_feed Sun, 23 Sep 2012 16:00:00 +0000 Smartphone enthusiasts are keenly waiting for the chance to get their hands on Apple's new iPhone 5. Its launch invites the perennial question of what to do with your old smartphone, which cost so much a year or so ago and was once a must-have item. Is it now a relic? The easiest option is to take the old item to a mobile phone service provider, such as SmarTone, and trade it in. The provider will typically give you a credit for the phone, which will then be offset against the cost of your new... https://www.scmp.com/business/money/markets-investing/article/1042399/personal-finance-used-mobile-phones?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1042399/personal-finance-used-mobile-phones?utm_source=rss_feed Sun, 23 Sep 2012 16:00:00 +0000 A recent Justin Timberlake science-fiction movie called In Time had the premise that, in the future, people will only live as long as they can pay for time. If your credit expires, so do you. The movie was not up to much, but the concept was compelling. It reflects the fact that people need cash to live, and that extreme poverty in old age leaves people vulnerable. So, while people don't expire the minute their credit runs out, as in the Timberlake movie, there is certainly a link between money... https://www.scmp.com/business/money/markets-investing/article/1036873/when-time-money-and-you-dont-have-any?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1036873/when-time-money-and-you-dont-have-any?utm_source=rss_feed Sun, 16 Sep 2012 16:00:00 +0000 The thought of not being around to provide for your family is something most people would rather not think about. And for those who do want to make provisions in case the worst happens, working out how much life insurance is necessary and what form it should take can seem bewildering. Ensuring you have the right level of cover in place is the cornerstone of good financial planning. For the lay person's benefit, we ask who needs life insurance and what to consider when buying a policy.   Who... https://www.scmp.com/magazines/money/article/1039687/your-life-balance?utm_source=rss_feed https://www.scmp.com/magazines/money/article/1039687/your-life-balance?utm_source=rss_feed Sun, 16 Sep 2012 16:00:00 +0000 Paying more than HK$30 for a cup of coffee would once have been unthinkable, but many Hongkongers now dip into their pockets on a daily basis to get their caffeine fix. So popular has a regular latte or cappuccino become that there are now more than 120 Starbucks outlets across Hong Kong, with other coffee chains expanding fast. But do these so-called designer coffees offer value for money, or is it worth considering lattes at cheaper outlets, such as 7-Eleven? Money Post went shopping to... https://www.scmp.com/business/money/spending/article/1018392/cost-coffee-hong-kong?utm_source=rss_feed https://www.scmp.com/business/money/spending/article/1018392/cost-coffee-hong-kong?utm_source=rss_feed Sun, 19 Aug 2012 16:00:00 +0000 Few things in life are more frustrating than the feeling of being fleeced by a financial services company. Whether you think you have been mis-sold a financial product, or are not happy with an insurance settlement, the complaints process can be long and bureaucratic, and consumers can easily feel the odds are stacked against them. But you can improve your odds if you understand the system. So, Money Post has assembled a guide for complaints and grievances. First - know this: regulators will... https://www.scmp.com/article/1005607/how-complain-and-get-results?utm_source=rss_feed https://www.scmp.com/article/1005607/how-complain-and-get-results?utm_source=rss_feed Sun, 01 Jul 2012 16:00:00 +0000 Qidi Aixinjueluo Whitaker bought an expensive life insurance plan from Prudential in 2009. She has tried, in vain, to get a refund on the policy. Her situation illustrates a number of problems seen in the sale of investment products. Mainly, that people often do not know what they are buying. At the time, Whitaker was living in Thailand and was estranged from her husband and considering divorce. She had two young children, no home of her own, no job and no income. On a visit to Hong Kong she... https://www.scmp.com/article/1003599/mother-fights-insurer-refund-life-policy?utm_source=rss_feed https://www.scmp.com/article/1003599/mother-fights-insurer-refund-life-policy?utm_source=rss_feed Sun, 10 Jun 2012 16:00:00 +0000 World stock markets endured a torrid time last week amid growing speculation that Greece may depart from the euro. There are fears that a messy Greek exit from the single currency, dubbed a Grexit, will create a crisis that would quickly engulf weak euro-zone economies, such as Spain, Ireland, Portugal and Italy. The fear is that, if Greece fully and formally defaults on its sovereign debt, investors will stop investing in sovereign bonds from the other countries, making it impossible for them... https://www.scmp.com/article/1002220/what-if-greece-hits-skids?utm_source=rss_feed https://www.scmp.com/article/1002220/what-if-greece-hits-skids?utm_source=rss_feed Sun, 27 May 2012 16:00:00 +0000 Most people do not want to talk about health insurance. The issues surrounding such plans - security, money, mortality - are fraught with emotion. The policies are complicated. Agents can be pushy and the schemes expensive. In short, people who look into health insurance may be confronted by complex and expensive plans, possibly pitched by an aggressive agent who exploits their worst fears. It's not a fun topic. So it's not surprising that 57 per cent of people living in Hong Kong have no... https://www.scmp.com/article/1000925/anatomy-health-plan?utm_source=rss_feed https://www.scmp.com/article/1000925/anatomy-health-plan?utm_source=rss_feed Sun, 13 May 2012 16:00:00 +0000 Investment-linked assurance schemes (ILAS) are one of the most popular investments in Hong Kong. If you've ever taken out a pension or savings plan, there is a distinct possibility you own one without having heard the term. However, if you are a financial adviser or private banker, you are likely intimately familiar with the investment as they are big sellers and can carry high fees. Once a client commits to an ILAS plan, it is difficult to exit. They can last 20 or 30 years and, in the initial... https://www.scmp.com/article/998296/ilas-and-alack?utm_source=rss_feed https://www.scmp.com/article/998296/ilas-and-alack?utm_source=rss_feed Sun, 15 Apr 2012 16:00:00 +0000 What is an ILAS? Investment-linked assurance schemes are sold by insurance companies. They include an insurance component, which commonly takes the form of a savings or pension plan. The money paid into an ILAS is typically invested in a range of funds picked by the investor. The products are offered by the major insurers, such as Friends Provident, Generali International, Aviva, Zurich International Life and Royal Skandia, as well as the large consumer banks. They are sold by banks, financial... https://www.scmp.com/article/998295/youre-long-haul?utm_source=rss_feed https://www.scmp.com/article/998295/youre-long-haul?utm_source=rss_feed Sun, 15 Apr 2012 16:00:00 +0000 Hong Kong banks are failing to encourage children to save by not offering accounts designed for younger customers. Most banks in Hong Kong do not have savings accounts that are specifically aimed at children, while some institutions will not even allow anyone aged under 16 to open an account. Out of 10 banks visited by Money Post as part of a mystery shopping exercise, only one offered a standalone account aimed at children, rather than their parents, and just one other institution had a... https://www.scmp.com/article/996584/no-vault-their-own?utm_source=rss_feed https://www.scmp.com/article/996584/no-vault-their-own?utm_source=rss_feed Sun, 25 Mar 2012 16:00:00 +0000