https://www.scmp.com/rss/524013/feed Christopher Hui: Appointed Secretary for Financial Services and the Treasury in Hong Kong since 2020, he is a key figure in the city’s financial landscape. He has a strong background in both government and the financial sector, including a significant tenure at Hong Kong Exchanges and Clearing Limited, where he was instrumental in projects like the Shanghai-Hong Kong Stock Connect. His current role involves overseeing financial policy and promoting Hong Kong as a leading hub for digital assets... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Connor Mycroft Connor Mycroft Hong Kong’s “one country, two systems” principle can serve as a model around the world and represents the city’s biggest contribution to Beijing’s Global Governance Initiative, political heavyweight Regina Ip Lau Suk-yee has said. Ip, the convenor of the government’s key decision-making Executive Council and a former lawmaker, made the remarks at a media briefing on Thursday ahead of the third edition of the annual Global Prosperity Summit, which is organised by her think tank – the Savantas... https://www.scmp.com/news/hong-kong/society/article/3351164/one-country-two-systems-can-serve-global-model-hong-kongs-regina-ip?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3351164/one-country-two-systems-can-serve-global-model-hong-kongs-regina-ip?utm_source=rss_feed Thu, 23 Apr 2026 09:57:47 +0000 Connor Mycroft Connor Mycroft Hong Kong leader John Lee Ka-chiu has met European Union representatives to discuss opportunities for cooperation, with the chief executive saying both sides highlighted a shared belief in multilateralism amid increasing tensions and market turmoil. Ambassador Harvey Rouse, head of the EU Office in Hong Kong, called for both sides to work together, describing the 27-member bloc as a “very dependable partner in an increasingly volatile world”. Local officials attending the lunch meeting on... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350369/hong-kong-leader-john-lee-eu-officials-meet-discuss-trade-cooperation?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3350369/hong-kong-leader-john-lee-eu-officials-meet-discuss-trade-cooperation?utm_source=rss_feed Thu, 16 Apr 2026 15:19:17 +0000 Ng Kang-chung Ng Kang-chung Hong Kong’s 21 ministerial-level officials spent more than HK$46.6 million (US$5.9 million) on trips over the past three financial years, with finance chief Paul Chan Mo-po accounting for nearly a quarter of the total. Secretary for Commerce and Economic Development Algernon Yau Ying-wah was the most frequent traveller, making 50 trips in the past three years at a cost of HK$7.21 million to taxpayers, official records released to legislators showed. Chan made 35 visits during the three financial... https://www.scmp.com/news/hong-kong/politics/article/3349750/hong-kongs-ministerial-team-spent-hk466-million-visits-past-3-years?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3349750/hong-kongs-ministerial-team-spent-hk466-million-visits-past-3-years?utm_source=rss_feed Sun, 12 Apr 2026 01:00:13 +0000 Peggy Ye Peggy Ye Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good in Hong Kong Summit on Tuesday evening. “The rules-based international order is under strain. Some even say it has been ruptured.” Facing such a situation, investors... https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed Tue, 24 Mar 2026 13:52:05 +0000 Themis Qi Themis Qi About 130 family office decision-makers and affluent second-generation members from across the world attended a dinner held by the Hong Kong government on Monday evening, including billionaire Pop Mart founder, chairman and CEO Wang Ning. The dinner set the stage for the fourth edition of the Wealth for Good in Hong Kong (WGHK) Summit, themed “Building Lasting Legacies”, which will take place on Tuesday, as the city promotes its capabilities as an international wealth management hub amid global... https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed Mon, 23 Mar 2026 14:13:17 +0000 Lo Hoi-ying Lo Hoi-ying Swire Coca-Cola has won a HK$31.9 million (US$4 million) contract to supply Bonaqua water to some Hong Kong government offices, following a HK$52.9 million procurement scandal last year. According to a Government Logistics Department notice, Swire Coca-Cola was awarded the 27-month contract on Tuesday to supply more than 1.46 million bottles of drinking water to offices on Hong Kong Island and parts of the outlying islands. The selection followed an open tender launched in December. In its... https://www.scmp.com/news/hong-kong/society/article/3347375/swire-coca-cola-wins-hk32-million-government-deal-after-bottled-water-scandal?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3347375/swire-coca-cola-wins-hk32-million-government-deal-after-bottled-water-scandal?utm_source=rss_feed Fri, 20 Mar 2026 13:32:55 +0000 Leopold Chen Leopold Chen The conflict in the Middle East could divert new capital to Hong Kong due to the city’s stability and regulatory certainty, the treasury minister has said, while pledging to keep markets operating smoothly amid energy price shocks caused by the war in Iran. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said on Sunday the government would step up efforts to attract family offices and become a commodity trading hub as investors increasingly factored in political... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3346640/middle-east-conflict-could-divert-new-capital-hong-kong-treasury-chief?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3346640/middle-east-conflict-could-divert-new-capital-hong-kong-treasury-chief?utm_source=rss_feed Sun, 15 Mar 2026 05:21:17 +0000 Cao Li Cao Li As innovations arise from the artificial intelligence, robotics and biotechnology sectors, holders of family capital from around the world will convene in Hong Kong to discuss such investment opportunities at the city’s fourth annual Wealth for Good Summit on March 23 and 24. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the summit would showcase Hong Kong’s position as a premier hub for family capital seeking long-term growth and multigenerational... https://www.scmp.com/business/article/3346393/hong-kongs-wealth-good-summit-highlight-ai-robotics-biotech-opportunities?utm_source=rss_feed https://www.scmp.com/business/article/3346393/hong-kongs-wealth-good-summit-highlight-ai-robotics-biotech-opportunities?utm_source=rss_feed Thu, 12 Mar 2026 11:33:36 +0000 Vivian Au Vivian Au Hong Kong entrepreneurs with operations in the Middle East are recalibrating their global footprints to hedge against mounting geopolitical instability and losses resulting from the widening conflict in Iran. The shift in business strategy followed the outbreak of the US-Israel war with Iran last week, prompting firms to draw up contingency plans and pivot to Europe or Southeast Asia to de-risk their portfolios and ensure supply chain continuity. The war escalated with Iran’s retaliation,... https://www.scmp.com/news/hong-kong/politics/article/3345814/hong-kong-firms-rethink-global-operations-amid-middle-east-turmoil?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3345814/hong-kong-firms-rethink-global-operations-amid-middle-east-turmoil?utm_source=rss_feed Sun, 08 Mar 2026 04:00:20 +0000 Enoch Yiu Enoch Yiu Escalating tensions in the Middle East could strengthen Hong Kong’s ambitions to become a global family office hub and gold trading centre, as wealthy investors reconsider their exposure to the region, industry figures say. “The war in the Middle East could benefit Hong Kong because wealthy individuals in the region may want to move part of their investments outside the conflict zone,” said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of Financial Analysts and Professional... https://www.scmp.com/business/article/3345424/hong-kong-seen-haven-gold-and-family-offices-conflict-raises-risks-dubai?utm_source=rss_feed https://www.scmp.com/business/article/3345424/hong-kong-seen-haven-gold-and-family-offices-conflict-raises-risks-dubai?utm_source=rss_feed Thu, 05 Mar 2026 00:30:08 +0000 Ambrose Li Ambrose Li The conflict in Iran could raise cargo transport costs from Asia to Europe by at least 10 per cent, according to Hong Kong sector representatives, as major shipping companies have suspended bookings to and from the Middle East or imposed significant war-risk surcharges. Lawmaker Tommy Chung Ki-fung, who represents the import and export constituency, explained on Wednesday that rising fuel prices and longer voyages, among other factors, would lead to higher shipping costs. “I’d be more... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345394/10-rise-costs-expected-shipping-firms-halt-middle-east-bookings-add-risk-charges?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345394/10-rise-costs-expected-shipping-firms-halt-middle-east-bookings-add-risk-charges?utm_source=rss_feed Wed, 04 Mar 2026 08:18:27 +0000 Enoch Yiu Enoch Yiu Hong Kong will expand its tax exemptions for operators of family offices and funds set up by international organisations, such as the Asian Infrastructure Investment Bank (AIIB), in line with efforts to promote the city as a wealth management hub, a minister told lawmakers on Monday. In a financial affairs panel meeting, Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, said the government would submit a bill to the Legislative Council within the first half of this... https://www.scmp.com/business/companies/article/3345119/hong-kong-expand-tax-exemptions-family-offices-aiib-and-pension-fund-investment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3345119/hong-kong-expand-tax-exemptions-family-offices-aiib-and-pension-fund-investment?utm_source=rss_feed Mon, 02 Mar 2026 08:21:20 +0000 Lam Ka-sing Lam Ka-sing A combination of a strong initial public offering (IPO) market and bond sales has helped put Hong Kong’s financial health back in the black sooner than expected, with analysts expecting a robust pipeline of listings to be key to sustaining the city’s surplus. In his budget speech on Wednesday, Financial Secretary Paul Chan Mo-po said the city was previously expected to record a HK$67 billion deficit for the 2025-26 financial year, which ends on March 31, but emerged with an estimated HK$2.9... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344776/hong-kong-records-hk29-billion-consolidated-surplus-2025-26-heres-how?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344776/hong-kong-records-hk29-billion-consolidated-surplus-2025-26-heres-how?utm_source=rss_feed Thu, 26 Feb 2026 14:01:20 +0000 Ng Kang-chung Ng Kang-chung Businesses in Hong Kong remain confident of weathering uncertainties after US President Donald Trump raised global tariffs in response to a Supreme Court ruling that struck down his sweeping levies on imports. The local business sector was convinced that the impact of the new 15 per cent global tariff would be “limited”, echoing the opinion of financial officials. “President Trump’s actions only undermine confidence in American investment and trade, doing nothing but harm,” Jimmy Ng Wing-ka, who... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344323/hong-kong-businesses-take-trumps-latest-tariff-surprise-stride?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344323/hong-kong-businesses-take-trumps-latest-tariff-surprise-stride?utm_source=rss_feed Mon, 23 Feb 2026 14:01:06 +0000 Matthew Cheng Matthew Cheng The new 10 per cent global tariffs imposed by the United States will have only a “limited impact” on Hong Kong, the treasury chief has said, adding that the move highlights the city’s strength as a safe haven for capital amid geopolitical uncertainty. The remarks followed US President Donald Trump’s announcement on Friday of his plan to impose a new round of tariffs on all trading partners, effective immediately, after the US Supreme Court ruling against his earlier sweeping emergency... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344200/new-us-10-tariff-will-have-limited-impact-hong-kong-treasury-chief?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3344200/new-us-10-tariff-will-have-limited-impact-hong-kong-treasury-chief?utm_source=rss_feed Sat, 21 Feb 2026 06:20:27 +0000 Themis Qi Themis Qi Hong Kong housed nearly 3,400 single-family offices by the end of last year, a 25 per cent rise in two years – contributing HK$12.6 billion (US$1.6 billion) annually to the economy – as the affluent refocused on the city amid US trade tensions and the rise of China’s tech sector, according to a report by Deloitte on Tuesday. The global auditing firm made the estimates after surveying 136 market participants across Hong Kong’s family office sector, including 85 single-family offices, whose wealth... https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed Tue, 10 Feb 2026 07:20:05 +0000 Leopold Chen Leopold Chen Some 500 guests are expected to attend an Apec finance ministers’ meeting in Hong Kong in October, the first to be held in the city, with authorities set to appoint a team led by two senior officials to oversee planning for the event. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu told a Legislative Council panel meeting on Monday that the government proposed setting up an event coordination team under his bureau to prepare for the meeting. “This meeting will provide... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3342110/government-proposes-planning-team-apec-finance-ministers-meeting-hong-kong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3342110/government-proposes-planning-team-apec-finance-ministers-meeting-hong-kong?utm_source=rss_feed Mon, 02 Feb 2026 09:36:06 +0000 Harvey Kong Harvey Kong Hong Kong’s treasury minister has said authorities will shelve a proposed levy on private cars crossing the border into mainland China, citing feedback from lawmakers and members of the public. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu told the Legislative Council on Friday that the government had decided not to go ahead with implementing the boundary facility fee for the time being after “careful consideration”, marking the second policy U-turn of the day. The... https://www.scmp.com/news/hong-kong/transport/article/3341888/hong-kong-shelves-cross-border-levy-plan-marks-second-policy-u-turn-day?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3341888/hong-kong-shelves-cross-border-levy-plan-marks-second-policy-u-turn-day?utm_source=rss_feed Fri, 30 Jan 2026 14:24:23 +0000 Enoch Yiu Enoch Yiu Hong Kong has struck a deal with the Shanghai Gold Exchange (SGE) to deepen cross-border connectivity in bullion trading, as the city steps up efforts to build a broader gold ecosystem spanning trading, clearing and storage. The agreement comes as gold prices hit a record high of US$5,110 per ounce on Tuesday morning, buoyed by geopolitical tensions and growing expectations of lower US interest rates, which have revived demand for the precious metal as a safe-haven asset. A government official... https://www.scmp.com/business/commodities/article/3341290/explainer-why-hong-kong-turning-shanghai-build-gold-hub?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3341290/explainer-why-hong-kong-turning-shanghai-build-gold-hub?utm_source=rss_feed Tue, 27 Jan 2026 02:00:14 +0000 Ambrose Li,Jess Ma Ambrose Li,Jess Ma Hong Kong authorities will hold three officers from the logistics department accountable over their roles in a bottled water procurement scandal, while its former head had his Silver Bauhinia Star nomination rescinded despite being cleared of direct oversight. Civil service chief Ingrid Yeung Ho Poi-yan said on Tuesday that an investigation into the scandal involving the HK$166 million (US$21.3 million) bottled water procurement contract last year found that two staff members from the Government... https://www.scmp.com/news/hong-kong/law-and-crime/article/3340499/hong-kong-logistics-head-stripped-award-3-staff-face-action-water-scandal?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3340499/hong-kong-logistics-head-stripped-award-3-staff-face-action-water-scandal?utm_source=rss_feed Tue, 20 Jan 2026 04:11:59 +0000 Aileen Chuang Aileen Chuang Busy Ming Group, China’s largest snack and drink retailer, is seeking to raise up to HK$3.34 billion (US$428 million) in a Hong Kong initial public offering (IPO), testing investors’ appetite for consumer-oriented stocks. The firm, which focuses on a value model, planned to sell 14.1 million shares at HK$229.60 to HK$236.60, according to its prospectus filed with the Hong Kong stock exchange on Tuesday. The stock is expected to begin trading on January 28. Busy Ming owns two brands – Busy for... https://www.scmp.com/business/banking-finance/article/3340497/chinas-busy-ming-test-investor-appetite-consumer-plays-hong-kong-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340497/chinas-busy-ming-test-investor-appetite-consumer-plays-hong-kong-ipo?utm_source=rss_feed Tue, 20 Jan 2026 03:55:03 +0000 Enoch Yiu Enoch Yiu The 19th Asian Financial Forum (AFF) kicks off in Hong Kong next week, highlighting the city’s strategic role in facilitating cross-border investment. The forum would focus on helping mainland Chinese start-ups go global through Hong Kong initial public offerings (IPOs), while providing international firms with a gateway to the mainland, HSBC Hong Kong CEO Maggie Ng said on Monday. Titled “Co-creating New Horizons amid an Evolving Landscape”, the annual government flagship event will run from... https://www.scmp.com/business/banking-finance/article/3340444/goldman-sachs-prada-among-top-financial-luxury-brands-join-hong-kong-aff?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3340444/goldman-sachs-prada-among-top-financial-luxury-brands-join-hong-kong-aff?utm_source=rss_feed Mon, 19 Jan 2026 10:30:10 +0000 Julie Zhang Julie Zhang Hong Kong is putting gold at the centre of its push to become a global commodities trading hub, with officials prioritising plans for an international gold trading centre alongside a broader strategy to expand the city’s role in physical trade, derivatives and logistics. The government’s newly formed Commodity Strategy Committee held its first meeting on Monday under Financial Secretary Paul Chan Mo-po, as Hong Kong looked to build out a commodities ecosystem that would generate new growth... https://www.scmp.com/business/banking-finance/article/3337366/gold-takes-centre-stage-hong-kong-launches-committee-build-commodities-ecosystem?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3337366/gold-takes-centre-stage-hong-kong-launches-committee-build-commodities-ecosystem?utm_source=rss_feed Mon, 22 Dec 2025 11:11:01 +0000 Aileen Chuang Aileen Chuang Hong Kong has signed a comprehensive avoidance of double taxation agreement (CDTA) with Norway, marking its fourth such pact this year as the city steps up efforts to strengthen its appeal as an international business and investment hub. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu signed the agreement with the Government of the Kingdom of Norway in Beijing on Tuesday. Hui had visited Norway to discuss the matter in June. Under the agreement, Hong Kong residents who... https://www.scmp.com/business/banking-finance/article/3336653/hong-kong-signs-tax-treaty-norway-marking-fourth-such-agreement-year?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3336653/hong-kong-signs-tax-treaty-norway-marking-fourth-such-agreement-year?utm_source=rss_feed Tue, 16 Dec 2025 10:47:08 +0000 Enoch Yiu Enoch Yiu Manulife (International), one of the biggest life insurers and pension providers in Hong Kong and Macau, has finished moving its domicile to Hong Kong from Bermuda, making it the first insurer to successfully complete the process under a new regime, according to a statement on Friday. The insurer said the redomiciling was a “strategic milestone” that underscored its confidence in Hong Kong’s role as a leading international financial centre and reinforced the company’s long-standing commitment to... https://www.scmp.com/business/companies/article/3336273/manulife-becomes-first-insurer-redomicile-hong-kong?utm_source=rss_feed https://www.scmp.com/business/companies/article/3336273/manulife-becomes-first-insurer-redomicile-hong-kong?utm_source=rss_feed Fri, 12 Dec 2025 11:50:36 +0000 Lo Hoi-ying Lo Hoi-ying The trust of late billionaire Nina Wang Kung Yu-sum has donated HK$100 million (US$12.8 million) to victims of the deadly Tai Po blaze, surpassing tycoon Li Ka-shing to become the second-largest single donor after the Hong Kong Jockey Club. Nina Wang Charity Management announced on Thursday that it would donate HK$100 million to support the government’s recovery and community rebuilding efforts following the Wang Fuk Court fire, which killed at least 160 people and displaced more than 4,000... https://www.scmp.com/news/hong-kong/society/article/3336010/nina-wang-trust-donates-hk100-million-hong-kong-fire-victims-surpassing-li-ka-shing?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3336010/nina-wang-trust-donates-hk100-million-hong-kong-fire-victims-surpassing-li-ka-shing?utm_source=rss_feed Thu, 11 Dec 2025 06:02:29 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong has launched a public consultation regarding a system for sharing information on crypto assets with other governments in compliance with international standards as the city ramps up initiatives to develop as a digital-asset hub. The government has invited members of the public to share views about the implementation of the Crypto-Asset Reporting Framework (CARF) and amendments in relation to the Common Reporting Standard (CRS) put forward by the Organisation for Economic Co-operation... https://www.scmp.com/business/article/3335787/hong-kong-eyes-international-info-sharing-crypto-assets-combat-tax-fraud-evasion?utm_source=rss_feed https://www.scmp.com/business/article/3335787/hong-kong-eyes-international-info-sharing-crypto-assets-combat-tax-fraud-evasion?utm_source=rss_feed Tue, 09 Dec 2025 11:30:09 +0000 Enoch Yiu Enoch Yiu When Alvin Kwock, co-founder of digital insurer OneDegree, took part in the inaugural Hong Kong FinTech Week in November 2016, it was held at a venue suitable for only a few hundred people. “As it was the first ever fintech event in Hong Kong, only fintech start-ups were interested, no big financial institutions paid attention,” Kwock said. “People did not have a clear idea of fintech as it was still in an exploratory stage.” In the years since, fintech in Hong Kong has gone through a sea... https://www.scmp.com/business/banking-finance/article/3334469/work-progress-hong-kong-reaps-fruits-fintech-seeds-sown-nearly-10-years-ago?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3334469/work-progress-hong-kong-reaps-fruits-fintech-seeds-sown-nearly-10-years-ago?utm_source=rss_feed Sat, 29 Nov 2025 02:00:10 +0000 Willa Wu Willa Wu Hong Kong authorities have ramped up efforts to drive voter turnout for the coming Legislative Council election, releasing a video featuring a bomb disposal chief urging members of ethnic minority groups to cast their ballots. Raymond Suryanto Chin-chiu, head of the explosive ordnance disposal bureau, made the appeal in Indonesian in the video released on Sunday via Secretary for the Civil Service Ingrid Yeung Ho Poi-yan’s social media account. “Dear Indonesian friends in Hong Kong, if you are a... https://www.scmp.com/news/hong-kong/politics/article/3333839/bomb-disposal-chief-urges-indonesian-residents-vote-hong-kong-legco-poll?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3333839/bomb-disposal-chief-urges-indonesian-residents-vote-hong-kong-legco-poll?utm_source=rss_feed Sun, 23 Nov 2025 08:01:35 +0000 Danny Mok Danny Mok The Hong Kong government has put on hold the presentation of a top honour to a newly retired official whose department was at the centre of a recent bottled water procurement scandal, saying it has to wait until a disciplinary probe reaches a conclusion. The administration revealed the move on Tuesday evening in response to media questions on whether Carlson Chan Ka-shun would attend the 2025 honours presentation ceremony at Government House on Saturday. Chan, the former director of the... https://www.scmp.com/news/hong-kong/society/article/3332395/hong-kong-award-hold-ex-logistics-chief-until-water-scandal-probe-ends?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3332395/hong-kong-award-hold-ex-logistics-chief-until-water-scandal-probe-ends?utm_source=rss_feed Tue, 11 Nov 2025 17:05:42 +0000 Julie Zhang Julie Zhang The Hong Kong government priced a record HK$10 billion (US$1.3 billion) tokenised green bond offering on Monday, completing the world’s first government issuance to allow settlement using digital-fiat currencies as the city pushes to burnish its standing as a global hub for digital assets. “Hong Kong is uniquely positioned to connect traditional finance to the digital asset era,” said Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury, in an announcement published by the... https://www.scmp.com/business/banking-finance/article/3332391/hong-kong-prices-worlds-first-government-bonds-tokenised-settlement?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332391/hong-kong-prices-worlds-first-government-bonds-tokenised-settlement?utm_source=rss_feed Tue, 11 Nov 2025 14:46:26 +0000 Xinmei Shen Xinmei Shen Ant Group chairman Eric Jing Xiandong touted the company’s tokenisation progress and lauded blockchain’s increased role in financial services at Hong Kong Fintech Week this year, but made no mention of its stalled stablecoin pursuit as regulators move to rein in speculative activities. Ant has used tokenised bank deposits to achieve cross-bank real-time settlement this year through the Hong Kong government’s Project Ensemble, Jing said on Monday at the city’s largest fintech conference. Speaking... https://www.scmp.com/tech/blockchain/article/3331285/ant-chairman-touts-tokenised-money-settlement-remains-mum-stablecoin-plans?utm_source=rss_feed https://www.scmp.com/tech/blockchain/article/3331285/ant-chairman-touts-tokenised-money-settlement-remains-mum-stablecoin-plans?utm_source=rss_feed Mon, 03 Nov 2025 05:01:29 +0000 Leopold Chen Leopold Chen Problems with a company involved in a bottled water procurement scandal were not flagged by the Hong Kong government’s logistics department to a central board that approved the tender, a senior official has revealed, stressing that a probe into the case will also review the roles of those who gave the green light. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Sunday that the Government Logistics Department (GLD) was tasked with promoting fair competition... https://www.scmp.com/news/hong-kong/politics/article/3330359/officials-failed-flag-problems-firm-hong-kong-bottled-water-scandal?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3330359/officials-failed-flag-problems-firm-hong-kong-bottled-water-scandal?utm_source=rss_feed Sun, 26 Oct 2025 08:04:52 +0000 SCMP Editorial SCMP Editorial A disciplinary investigation has been rightly ordered regarding the actions of Hong Kong officials involved in a scandal related to the procurement of bottled water for government offices. Integrity and trust in the system are at stake. It is good the inquiry will extend to all officials, regardless of rank or whether they have retired. An initial review by the city’s Audit Commission found human error may have been a factor. The watchdog discovered that the Government Logistics Department (GLD)... https://www.scmp.com/opinion/comment/article/3330039/probe-hong-kongs-water-procurement-scandal-must-restore-trust?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3330039/probe-hong-kongs-water-procurement-scandal-must-restore-trust?utm_source=rss_feed Thu, 23 Oct 2025 23:15:14 +0000 Aileen Chuang Aileen Chuang A unit of PetroChina Investment (Hong Kong) has become the first approved company to reincorporate in the city under a new law, with the government highlighting the high number of inquiries it has received from companies seeking to redomicile. The Financial Services and the Treasury Bureau (FSTB) said on Wednesday that the PetroChina Investment unit received a certificate of re-domiciliation from the Companies Registry. This marks the first such case after the government introduced the company... https://www.scmp.com/business/companies/article/3329975/petrochina-unit-first-reincorporate-hong-kong-under-re-domiciliation-law?utm_source=rss_feed https://www.scmp.com/business/companies/article/3329975/petrochina-unit-first-reincorporate-hong-kong-under-re-domiciliation-law?utm_source=rss_feed Wed, 22 Oct 2025 13:43:22 +0000 Ambrose Li Ambrose Li Civil servants’ vigilance in guarding against potential procurement scams falls short of public expectations, Hong Kong’s treasury minister has admitted, pledging to conduct site visits and prevent the process from becoming a “robotic” arrangement of “checking boxes”. But Secretary for Financial Services and the Treasury Christopher Hui Ching-yu stressed on Tuesday that the principle of “the lowest bidder wins” did not apply to government procurement procedures this time around and denied that... https://www.scmp.com/news/hong-kong/law-and-crime/article/3329753/hong-kong-minister-admits-procurement-vigilance-below-expectations-vows-reform?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3329753/hong-kong-minister-admits-procurement-vigilance-below-expectations-vows-reform?utm_source=rss_feed Tue, 21 Oct 2025 05:29:59 +0000 Leopold Chen Leopold Chen Hong Kong authorities will launch a disciplinary investigation into officials involved in a bottled water procurement scandal after an initial probe by the audit watchdog found that human error may have been a factor in the case. A review by the Audit Commission found that the Government Logistics Department (GLD) had repeatedly failed to follow up on suspicious signs, giving the green light to a company that allegedly used fraudulent documents to win the tender and supply substandard... https://www.scmp.com/news/hong-kong/politics/article/3329681/hong-kong-officials-involved-water-procurement-fiasco-face-disciplinary-probe?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3329681/hong-kong-officials-involved-water-procurement-fiasco-face-disciplinary-probe?utm_source=rss_feed Mon, 20 Oct 2025 09:32:23 +0000 Julie Zhang Julie Zhang The Hong Kong government is lowering the guaranteed coupon rate for its 10th batch of Silver Bonds offered to the city’s senior citizens, as anticipation builds that the US Federal Reserve will commence its next cycle of interest rate cuts on September 18. Up to HK$50 billion (US$6.4 billion) of Silver Bonds will go on sale next month with a guaranteed annual coupon of 3.85 per cent, down from 4 per cent in the batch sold in September last year. Three-year bonds will go on sale from 9am on... https://www.scmp.com/business/banking-finance/article/3323676/hong-kong-reduces-coupon-10th-batch-silver-bonds-ahead-feds-expected-rate-cut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3323676/hong-kong-reduces-coupon-10th-batch-silver-bonds-ahead-feds-expected-rate-cut?utm_source=rss_feed Fri, 29 Aug 2025 11:00:19 +0000 Daniel Ren Daniel Ren The Shanghai Gold Exchange opened its first offshore warehouse in Hong Kong on Thursday, a move that is likely to bolster the international trading of its contracts. The vault witnessed several transactions of spot gold contracts after it became operational, according to a statement from Bank of China (Hong Kong), which runs the warehouse. Analysts said the launch of the vault and two yuan-denominated gold products represented a step forward for Beijing and Hong Kong in their effort to promote... https://www.scmp.com/business/banking-finance/article/3315978/shanghai-gold-exchange-launches-first-offshore-vault-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3315978/shanghai-gold-exchange-launches-first-offshore-vault-hong-kong?utm_source=rss_feed Thu, 26 Jun 2025 12:57:06 +0000 Julie Zhang Julie Zhang The Hong Kong government has pledged to promote the public adoption of licensed stablecoins, unveiling a broad set of new digital asset (DA) policies as the city seeks to cement its role as a global cryptocurrency hub while serving as a test bed for Beijing’s fintech aspirations. In the “Policy Statement 2.0 on the Development of Digital Assets in Hong Kong” released on Thursday, the government called for market proposals to test stablecoin applications in public scenarios and a legislative... https://www.scmp.com/business/banking-finance/article/3315950/public-stablecoin-adoption-top-priority-hong-kong-new-digital-asset-blueprint?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3315950/public-stablecoin-adoption-top-priority-hong-kong-new-digital-asset-blueprint?utm_source=rss_feed Thu, 26 Jun 2025 10:00:20 +0000