https://www.scmp.com/rss/523017/feed The latest news and top stories on Terence Chong Tai-leung， an economics professor at the Chinese University of Hong Kong. He also leads the Lau Chor Tak Institute of Global Economics and Finance. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Kevin Li Kevin Li In the summer of 1998, the usually placid air at the Hong Kong Monetary Authority’s headquarters in Citibank Tower suddenly evaporated as regional currencies collapsed like dominoes. Rapacious speculators had shorted currencies such as the Thai baht, the Indonesian rupiah and the Korean won and had profited handsomely. The contagion looked like it would also bring the Hong Kong dollar to its knees. As storytellers from the era have recalled, that sweltering month of August, the wolves were at... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348050/should-hong-kong-be-using-war-chest-firepower-northern-metropolis?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348050/should-hong-kong-be-using-war-chest-firepower-northern-metropolis?utm_source=rss_feed Fri, 27 Mar 2026 00:30:07 +0000 Kevin Li Kevin Li Hong Kong and Singapore have crossed swords over their ambitions to be the world’s gold trading hub, but experts say the city holds an advantage over its Southeast Asian rival, citing its access to mainland China’s robust market. As Hong Kong pushes ahead with measures to create an ecosystem for gold trading – highlighted as recently in the government’s budget late last month – Singapore has reportedly been courting global heavyweights. In response to the South China Morning Post’s queries a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345867/hong-kong-singapore-square-race-become-worlds-gold-trading-hub?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345867/hong-kong-singapore-square-race-become-worlds-gold-trading-hub?utm_source=rss_feed Sun, 08 Mar 2026 11:00:12 +0000 Natalie Wong Natalie Wong Hong Kong’s coming annual budget must address critical bottlenecks in technology and talent attraction to pave the way for the city’s first five-year development framework in line with national priorities, according to observers. The budget, to be delivered by Financial Secretary Paul Chan Mo-po on Wednesday, is more than a fiscal exercise. It is viewed as the first major test of officials’ “reform mindset” after Beijing unveiled the nation’s 15th five-year plan recommendations, which include... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344219/hong-kong-budget-2026-27-whats-holding-back-citys-tech-and-talent-schemes?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344219/hong-kong-budget-2026-27-whats-holding-back-citys-tech-and-talent-schemes?utm_source=rss_feed Sun, 22 Feb 2026 01:00:27 +0000 Matthew Cheng Matthew Cheng Hong Kong’s improving fiscal position has prompted a groundswell of calls for the government to offer more “sweeteners” in the coming budget, including a cross-party demand for more tax relief for the middle class, but economists have cautioned against such across-the-board measures. They were more supportive of targeted spending, a cause taken up in recent weeks by concern groups asking for more specific forms of help for grass-roots residents, especially the unemployed. The growing debate was... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344177/hong-kong-budget-2026-27-sweeteners-grass-roots-or-middle-class?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344177/hong-kong-budget-2026-27-sweeteners-grass-roots-or-middle-class?utm_source=rss_feed Sat, 21 Feb 2026 00:30:08 +0000 Harvey Kong Harvey Kong Hong Kong could gain about HK$200 million (US$25.6 million) in economic value from K-pop powerhouse Blackpink’s coming concerts at Kai Tak Stadium, with fans of the girl group pouring into the city ahead of the three much-awaited shows. Excited fans splurged on band merchandise on Thursday ahead of the first concert at the weekend, while parts of Kai Tak Sports Park, where the stadium is located, were awash with pink. Hong Kong is the final stop of the four-member band’s “Deadline” global tour... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340892/hong-kong-hitting-high-notes-fans-roll-blackpink-concerts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340892/hong-kong-hitting-high-notes-fans-roll-blackpink-concerts?utm_source=rss_feed Thu, 22 Jan 2026 14:23:43 +0000 Leopold Chen Leopold Chen Competition in the Hong Kong labour market intensified in the past year with applications per job advertisement surging by nearly 60 per cent, even as AI eliminated some positions, according to a popular online employment marketplace. Jobsdb Hong Kong revealed on Monday that the average number of applications per advertisement on the platform rose 58 per cent year on year in 2025. Competition was even keener for frontline positions, where applications per advertisement increased 78 per cent over... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340402/60-more-applicants-job-hong-kong-2025-amid-ai-takeover-roles?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3340402/60-more-applicants-job-hong-kong-2025-amid-ai-takeover-roles?utm_source=rss_feed Mon, 19 Jan 2026 07:21:45 +0000 Ng Kang-chung Ng Kang-chung Hong Kong’s adoption of preferential packages to fast-track an industrial park that falls under the Northern Metropolis megadevelopment has been given an initial thumbs up. Local developers hailed the new approach as a “one-stop service” to help them cut through red tape and resolve problems, while some market observers believed it could also attract mainland Chinese enterprises to partner with Hong Kong firms to invest in the Hung Shui Kiu park. The government announced on Monday that it was... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338074/new-approach-fast-track-hong-kong-industrial-park-gets-thumbs-firms?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338074/new-approach-fast-track-hong-kong-industrial-park-gets-thumbs-firms?utm_source=rss_feed Tue, 30 Dec 2025 00:00:36 +0000 Wynna Wong,Oscar Liu Wynna Wong,Oscar Liu Hongkongers made more than 2.7 million outbound trips over the Christmas holiday period, about 11 per cent more year on year than in 2024, but an industry leader reported a boost in local nightlife business amid lacklustre food and drink sales noted by other experts. The Immigration Department said on Monday that 2.73 million departures were recorded between December 23 and 28, compared with 2.36 million over the same period last year. Christmas Day and Boxing Day fell on Thursday and Friday... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338008/hongkongers-make-273-million-outbound-trips-over-christmas-11-last-year?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338008/hongkongers-make-273-million-outbound-trips-over-christmas-11-last-year?utm_source=rss_feed Mon, 29 Dec 2025 07:39:36 +0000 Paul McNamara,Wynna Wong,Stephy Zhang Paul McNamara,Wynna Wong,Stephy Zhang Wheels were turning in more ways than one at a packed Hong Kong Velodrome last month when cyclist Ceci Lee Sze-wing rode to her third gold medal of the 15th National Games. Roared on by home spectators, it symbolised the successful realisation of the decision for the city to co-host the Games alongside Guangdong and Macau, its partners under the Greater Bay Area development plan. It created a scene officials hope to see replicated on an even bigger scale: historic achievements in front of... https://www.scmp.com/sport/hong-kong/article/3336896/greater-ambition-how-hong-kong-and-bay-area-neighbours-could-host-asian-games-olympics?utm_source=rss_feed https://www.scmp.com/sport/hong-kong/article/3336896/greater-ambition-how-hong-kong-and-bay-area-neighbours-could-host-asian-games-olympics?utm_source=rss_feed Sat, 27 Dec 2025 00:30:08 +0000 Jiang Chuqin Jiang Chuqin Hong Kong’s exports rose by about 16 per cent year on year in September, driven by significantly growing demand from Asian markets such as Vietnam and Malaysia, amid continuing uncertainties due to US trade policies. The value of the city’s exports for the month reached HK$462.3 billion (US$59.5 billion), pushing the third quarter total to HK$1.35 trillion, a 15 per cent increase from the same quarter last year, according to the Census and Statistics Department. The 16.1 per cent rise in... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330527/hong-kongs-exports-rise-16-fuelled-growing-demand-asian-markets?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3330527/hong-kongs-exports-rise-16-fuelled-growing-demand-asian-markets?utm_source=rss_feed Mon, 27 Oct 2025 15:46:19 +0000 Wynna Wong,Lo Hoi-ying Wynna Wong,Lo Hoi-ying Hong Kong’s unexpectedly robust retail sales in August were bolstered by a surge in tourism and a strong local stock market but recovery remains uneven, with businesses of popular consumer goods preparing for potential price wars driven by the lower cost of living across the border. Government figures released on Thursday showed retail sales grew by 3.8 per cent year on year, marking a fourth straight month of growth. It followed 14 consecutive months of decline from March 2024 to April 2025 and... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3327683/have-hong-kongs-retailers-turned-corner-after-augusts-sales-surge?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3327683/have-hong-kongs-retailers-turned-corner-after-augusts-sales-surge?utm_source=rss_feed Fri, 03 Oct 2025 00:30:11 +0000 Lam Ka-sing Lam Ka-sing Super Typhoon Ragasa may cost Hong Kong billions of dollars in economic losses, but its overall impact may be less severe than past storms, with more people working from home and the stock market trading despite the adverse weather, experts have said. But they warned on Thursday that as extreme weather became more frequent, significant annual economic losses were becoming a “new normal” for the city. Ragasa triggered Hong Kong’s highest-level No 10 typhoon warning signal and brought the city to... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3326892/hong-kongs-economic-losses-ragasa-may-run-billions-experts?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3326892/hong-kongs-economic-losses-ragasa-may-run-billions-experts?utm_source=rss_feed Fri, 26 Sep 2025 00:30:12 +0000 Edith Lin Edith Lin With Hong Kong leader John Lee set to deliver his annual policy address on September 17, the Post examines key topics the chief executive is expected to focus on, including a mega infrastructure project near the border, new economic drivers and livelihood issues. In the second of a seven-part series, Edith Lin examines how the mega development near the border may evolve to become a new engine to transform the city’s economy. Hong Kong’s Northern Metropolis can be a game changer in diversifying... https://www.scmp.com/news/hong-kong/society/article/3324667/northern-metropolis-can-tech-help-hong-kongs-economy-achieve-lift?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3324667/northern-metropolis-can-tech-help-hong-kongs-economy-achieve-lift?utm_source=rss_feed Mon, 08 Sep 2025 06:00:13 +0000 Fiona Sun Fiona Sun Questions have been raised about the effectiveness of potentially extending a baby bonus scheme to talent admitted to Hong Kong to boost the birth rate, despite some professionals complaining about being left out. Experts and lawmakers said that other incentives and measures were needed to encourage childbearing and boost the birth rate. Last month, Secretary for Labour and Welfare Chris Sun Yuk-han said the Newborn Baby Bonus Scheme was under review, with authorities to consider suggestions,... https://www.scmp.com/news/hong-kong/society/article/3320558/should-hong-kongs-baby-bonus-scheme-include-talent-boost-birth-rate?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3320558/should-hong-kongs-baby-bonus-scheme-include-talent-boost-birth-rate?utm_source=rss_feed Sun, 03 Aug 2025 01:00:14 +0000 June Xia June Xia Stimulating consumer demand and encouraging sustainable innovation are vital to China’s efforts to combat excessive competition – termed neijuan in Chinese, or “involution” - and could even help turn the trend into a virtuous cycle, analysts said. Top-down macroeconomic policies are also crucial, as actions taken by enterprises alone are insufficient, they added. “The essence of ‘involutional’ competition is inefficient competition in a limited market space,” analysts from China International... https://www.scmp.com/economy/china-economy/article/3319009/china-urged-curb-neijuan-boosting-domestic-consumption-innovation-led-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3319009/china-urged-curb-neijuan-boosting-domestic-consumption-innovation-led-growth?utm_source=rss_feed Mon, 21 Jul 2025 11:30:07 +0000