https://www.scmp.com/rss/512335/feed July 1, 2022 marks the 25th anniversary of Hong Kong’s return to Chinese rule, and also the halfway point of the “one country, two systems” policy under which Beijing governs the city. We look back on the story of one of Asia’s most colourful metropolises and how its political, social, cultural and economic landscape has evolved through the decades. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Businesses in Hong Kong are hoping for a boost from visitors over mainland China’s Labour Day “golden week” holiday. But hope cannot be a substitute for action in this difficult environment, and it is up to us whether Hong Kong’s economy perishes under the fiery challenges or finds a transformative rebirth – like a phoenix rising from the ashes. In Chinese mythology, the phoenix represents resilience, duty, propriety and virtue. Perhaps it should be the symbol of our times: Hongkongers must take... https://www.scmp.com/opinion/hong-kong-opinion/article/3259692/hong-kong-thrive-private-sector-must-rise-challenge?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3259692/hong-kong-thrive-private-sector-must-rise-challenge?utm_source=rss_feed Tue, 23 Apr 2024 01:15:16 +0000 Hong Kong is well-placed to capitalise on the opportunities presented by a worldwide restructuring of supply chains and rising geopolitical tension, according to a forum in the city after the inaugural meeting of the Chinese sovereign wealth fund’s global advisors. Asia will continue to drive global economic growth, and Hong Kong’s unique attributes and edge in “location, governance, efficiency, financial markets and human capital” make the city the “pivotal hub for financial, technological and... https://www.scmp.com/economy/china-economy/article/3235139/former-governor-central-bank-zhou-xiaochuan-says-china-can-fuel-regional-growth-amid-global-high?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3235139/former-governor-central-bank-zhou-xiaochuan-says-china-can-fuel-regional-growth-amid-global-high?utm_source=rss_feed Wed, 20 Sep 2023 02:24:59 +0000 As Hong Kong retakes its place on the global business and cultural stage, a special group of companies will be uniquely important to our continued progress. These are the corporations whose products or services play a vital role in connecting Hong Kong with the Asia-Pacific region and the world. The most obvious is Cathay Pacific Airways, arguably our largest cultural connector and global ambassador for Brand Hong Kong. Hong Kong Exchanges and Clearing is one of the world’s leading exchange... https://www.scmp.com/comment/opinion/article/3216706/super-connector-brands-cathay-pacific-and-lee-kum-kee-are-hong-kongs-superpower?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3216706/super-connector-brands-cathay-pacific-and-lee-kum-kee-are-hong-kongs-superpower?utm_source=rss_feed Wed, 12 Apr 2023 07:45:09 +0000 Hong Kong has historically been a key cornerstone to China’s reform and opening up. As the city turns a new page, for it to serve its residents and the rest of the country at the same time, it must remain the most international, open and pluralistic city on Chinese soil. Indeed, our distinctive mixture of substantial economic freedoms, robust common-law jurisdiction and cosmopolitan ethos has seen this city go from strength to strength. Yet the world we live in today is experiencing an... https://www.scmp.com/comment/opinion/article/3213491/itself-and-china-hong-kongs-only-recipe-success-be-truly-international-city?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3213491/itself-and-china-hong-kongs-only-recipe-success-be-truly-international-city?utm_source=rss_feed Fri, 17 Mar 2023 22:30:09 +0000 Buoyed by sizzling sales in mainland China, the world’s largest electric vehicle (EV) manufacturer BYD is looking to crack open the European market with plans to build local factories on the continent. “We will check the possibility of building local factories in Europe based on our business progress,” the Shenzhen-based carmaker said in a statement to the Post on Thursday, confirming a Bloomberg report, that it would build one or two plants there, citing executive vice-president Stella Li. The... https://www.scmp.com/business/china-business/article/3202554/chinese-electric-car-maker-byd-eyes-production-europe-it-widens-lead-over-tesla-worlds-largest-ev?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3202554/chinese-electric-car-maker-byd-eyes-production-europe-it-widens-lead-over-tesla-worlds-largest-ev?utm_source=rss_feed Thu, 08 Dec 2022 11:30:10 +0000 About 200,000 limited offers on local brands, luxuries, seafood and health and beauty products will be up for grabs this month and the next as part of efforts to boost Hong Kong’s sagging economy. The Hong Kong Tourism Board will launch the offers from about 200 retailers and brands from July 14, according to its spokeswoman. Consumers can enjoy discounts of up to 75 per cent on certain products during the campaign in July and August. One of the offers also includes a 30 per cent discount for a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3184091/offers-hong-kong-brands-seafood-luxuries-grabs?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3184091/offers-hong-kong-brands-seafood-luxuries-grabs?utm_source=rss_feed Tue, 05 Jul 2022 04:00:27 +0000 At a time when the local, regional and global challenges seem to outweigh the opportunities, Hong Kong finds itself on familiar ground. With the outlook clouded by a storm of inflationary pressures, geopolitical turmoil and pandemic uncertainty, pundits are calling Hong Kong’s future into question. But we’ve been here before: during the riots of the 1950s and 1960s, through the crisis of confidence surrounding the handover in 1997, and again during the severe acute respiratory syndrome (Sars)... https://www.scmp.com/comment/opinion/article/3183599/change-shouldnt-intimidate-hong-kong-we-have-always-thrived-it?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3183599/change-shouldnt-intimidate-hong-kong-we-have-always-thrived-it?utm_source=rss_feed Sun, 03 Jul 2022 01:15:21 +0000 The heavy rains earlier this month brought vivid memories of the torrential downpour that all but drowned out the Prince of Wales’ farewell speech at Tamar 25 years ago. Drenched in the heavy rain, many guests rushed home to change clothes before they could witness the change of sovereignty. For some loyal British subjects, it was as though the heavens were mourning the end of British rule and the foul weather was a portent of stormy times ahead. For others, who welcomed Hong Kong’s return to... https://www.scmp.com/comment/opinion/article/3183604/how-hong-kongs-unique-strengths-can-help-it-find-success-next-25?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3183604/how-hong-kongs-unique-strengths-can-help-it-find-success-next-25?utm_source=rss_feed Sat, 02 Jul 2022 04:15:12 +0000 When people ask me whether Hong Kong has changed since 1997, I say, “Yes, but it changed just as much in the 25 years before that.” The city has changed more than most places on the planet, but eventually we all get old. The next 25 years look to be less exciting as we move towards old age. Hong Kong’s population stood at about 3.9 million in 1972, 6.3 million in 1997 and is 7.6 million today. Estimates suggest the city will be home to about 8.1 million people by 2047 – that is an extrapolation,... https://www.scmp.com/comment/opinion/article/3183458/dynamic-change-may-be-past-ageing-hong-kong-amid-greater-mainland?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3183458/dynamic-change-may-be-past-ageing-hong-kong-amid-greater-mainland?utm_source=rss_feed Thu, 30 Jun 2022 03:30:13 +0000 A quarter of a century ago, as Hong Kong prepared for its return to the motherland, the international media and academic consensus at the time was that the “Death of Hong Kong” was upon us. The notable wave of emigration from the city in the mid-1990s understandably added fuel to this narrative. Twenty-five years later, any objective and honest assessment should conclude that the narrative was not just inaccurate but way off the mark, notwithstanding the persistent doom- and fearmongering of the... https://www.scmp.com/comment/opinion/hong-kong/article/3183329/how-hong-kong-has-flourished-1997-and-proved-its-western?utm_source=rss_feed https://www.scmp.com/comment/opinion/hong-kong/article/3183329/how-hong-kong-has-flourished-1997-and-proved-its-western?utm_source=rss_feed Thu, 30 Jun 2022 01:15:18 +0000 https://www.scmp.com/infographics/hong-kong/society/article/3182058/history-look-back-hong-kongs-land-sale-market?utm_source=rss_feed https://www.scmp.com/infographics/hong-kong/society/article/3182058/history-look-back-hong-kongs-land-sale-market?utm_source=rss_feed Mon, 20 Jun 2022 08:00:10 +0000 Starting a business comes with challenges, uncertainty and hard work, but in Hong Kong, a city with no shortage of rags-to-riches success stories, this is what thousands of risk-takers choose to do. With more than 340,000 SMEs forming the backbone of Hong Kong’s economy, it is clear the urge to strike out runs strong in the city. Even in the midst of a pandemic. The number of start-ups rose 12 per cent year on year to 3,755 in 2021, according to InvestHK, the government’s trade promotion... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3179186/dreaming-big-crisis-hong-kong-risk-takers-didnt?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3179186/dreaming-big-crisis-hong-kong-risk-takers-didnt?utm_source=rss_feed Thu, 16 Jun 2022 04:30:23 +0000 This article was first published in the South China Morning Post on August 15, 1998. It has been republished online as part of Hong Kong 25, which looks at how the city has changed since the handover, and what its future holds. By Ray Bashford and Enoch Yiu The Government yesterday launched its first-ever defence of the local stock and futures markets with a concerted intervention which drove the Hang Seng Index 8.5 per cent higher. Joseph Yam Chi-kwong, the Monetary Authority chief executive,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3177414/august-14-1998-billions-spent-prop-shares-hong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3177414/august-14-1998-billions-spent-prop-shares-hong?utm_source=rss_feed Tue, 14 Jun 2022 04:30:16 +0000 This article was first published in the South China Morning Post on July 23, 2009. It has been republished online as part of Hong Kong 25, which looks at how the city has changed since the handover, and what its future holds. By Enoch Yiu and Maria Chan Banks will repay at least HK$6.3 billion to 29,000 people who bought Lehman Brothers minibonds in what is likely to be the world’s largest compensation package for retail investors. The agreement involving 16 banks, announced yesterday by the... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3178498/july-22-2009-bank-payouts-lehman-brothers?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3178498/july-22-2009-bank-payouts-lehman-brothers?utm_source=rss_feed Tue, 14 Jun 2022 02:38:21 +0000 This article was first published in the South China Morning Post on October 27, 2012. It has been republished online as part of Hong Kong 25, which looks at how the city has changed since the handover, and what its future holds. By Joyce Ng, Amy Nip and Joshua But An increased stamp duty of 15 per cent has been imposed on home ownership by non-locals and companies to deter the further flow of hot money into the city, a measure that market watchers describe as tough. The Buyer’s Stamp Duty took... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3179361/october-27-2012-non-locals-hong-kong-hit-new?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3179361/october-27-2012-non-locals-hong-kong-hit-new?utm_source=rss_feed Mon, 13 Jun 2022 07:30:16 +0000 Tap here to launch the special feature https://www.scmp.com/hong-kong-25/society/article/3181013/can-hong-kong-deliver-2049-target-wipe-out-subdivided-flats?utm_source=rss_feed https://www.scmp.com/hong-kong-25/society/article/3181013/can-hong-kong-deliver-2049-target-wipe-out-subdivided-flats?utm_source=rss_feed Thu, 09 Jun 2022 23:30:21 +0000 Tap here to launch the special feature https://www.scmp.com/hong-kong-25/society/article/3180896/depression-cockroaches-rats-and-shame-add-misery-hongkongers?utm_source=rss_feed https://www.scmp.com/hong-kong-25/society/article/3180896/depression-cockroaches-rats-and-shame-add-misery-hongkongers?utm_source=rss_feed Wed, 08 Jun 2022 23:30:17 +0000 Tap here to launch the special feature https://www.scmp.com/hong-kong-25/society/article/3180749/why-hongkongers-citys-notorious-subdivided-flats-say-they-have?utm_source=rss_feed https://www.scmp.com/hong-kong-25/society/article/3180749/why-hongkongers-citys-notorious-subdivided-flats-say-they-have?utm_source=rss_feed Wed, 08 Jun 2022 00:00:25 +0000