https://www.scmp.com/rss/502063/feed Michael B. Wong is an assistant professor of management and strategy with a joint appointment in economics at the University of Hong Kong. He is also a fellow of the HKU Centre on Contemporary China and the World, an affiliate researcher of the HKU Jockey Club Enterprise Sustainability Global Research Institute, a member of the HKU Real Estate Lab, and a board member of local policy research think tank Citizen Action Design Lab. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Hong Kong’s public finances are crumbling. For decades, the city’s fiscal health relied heavily on land sales. Between 2012 and 2022, land sales contributed an average of 14 per cent of government revenue. However, in 2024-25, land sales plunged to just 1 per cent of revenue, or about HK$6.6 billion (US$848 million), a stark contrast to the average of HK$77.9 billion for the preceding decade. At the same time, stamp duty revenues have also fallen off. A revival of these revenues is unlikely in... https://www.scmp.com/opinion/hong-kong-opinion/article/3304862/how-hong-kong-can-reimagine-its-greatest-asset-peoples-homes?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3304862/how-hong-kong-can-reimagine-its-greatest-asset-peoples-homes?utm_source=rss_feed Fri, 04 Apr 2025 21:30:09 +0000 Between 2018 and the end of 2023, the world’s GDP increased by 13 per cent. Singapore’s increased by 12 per cent, while Hong Kong’s fell by 3 per cent. A year and a half after the end of the Covid-19 pandemic, Hong Kong’s economy is still sputtering. This malaise is attributable to long-term trends such as population ageing and a lack of new industries. To grow Hong Kong’s economy, the government has instituted subsidies for research and development with the aim of creating new industries. It... https://www.scmp.com/opinion/hong-kong-opinion/article/3273419/hong-kongs-economic-recovery-hinges-having-enough-adequate-housing?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3273419/hong-kongs-economic-recovery-hinges-having-enough-adequate-housing?utm_source=rss_feed Fri, 09 Aug 2024 08:30:08 +0000 It is no secret that Hong Kong’s public rental housing is misallocated, with many well-off households as tenants. Luxury cars can be found in these estates, even as the poorest members of society have little choice but to live in tiny, subdivided flats. To address this, Hong Kong has in recent months strengthened its enforcement of the income and asset limits for public rental housing. But rule enforcement will only accomplish so much. Our research shows that the rules are far too generous and... https://www.scmp.com/opinion/hong-kong-opinion/article/3261206/hong-kong-must-stop-letting-well-hog-public-rental-housing?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3261206/hong-kong-must-stop-letting-well-hog-public-rental-housing?utm_source=rss_feed Sat, 04 May 2024 01:30:15 +0000 In the past few days, as Hong Kong’s malls erupted in joy at our Olympic victories, there has been not only pride and solidarity, but also temporary relief. It was only very recently that the same venues were the stage for discontent, anger and violence. For the moment, we can forget about the collective trauma of protest and pandemic that we have struggled through for the past two years, to celebrate our own hometown champions. In many ways, our Olympic medallist Siobhan Haughey symbolises what... https://www.scmp.com/comment/opinion/article/3143610/hong-kongs-olympic-glory-glimpse-hopeful-new-future?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3143610/hong-kongs-olympic-glory-glimpse-hopeful-new-future?utm_source=rss_feed Wed, 04 Aug 2021 00:30:21 +0000 As Hong Kong’s astonishing summer of discontent rolls on into autumn, people on both sides of the political divide find themselves in a gridlock. While Chief Executive Carrie Lam Cheng Yuet-ngor’s decision to withdraw the extradition bill is a welcome step, the saga may not end here. The city remains deeply polarised. How can we reach closure in our collective nightmare? Social science research points a way. Consider a pair of opinion polls that asked people at two rallies the same question,... https://www.scmp.com/comment/opinion/article/3025894/liberal-or-conservative-hongkongers-must-learn-listen-those-they?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3025894/liberal-or-conservative-hongkongers-must-learn-listen-those-they?utm_source=rss_feed Sat, 07 Sep 2019 03:30:13 +0000