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Hong Kong economy

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Hong Kong economy
Breaking news and analysis on Hong Kong's economy and the companies that operate in the city, including its GDP, economic outlook, impact of the coronavirus outbreak, macroeconomic indicators, the local government finance and budget, retail sales, consumption, employment and monetary policy.
Illustration: Craig Stephens
West Kowloon Cultural District

Opinion | To realise Hong Kong’s cultural potential, a global vision is essential

The city can rise beyond a regional hub, but only with sustained investment and a coherent, long-term vision for arts development.

SCMP Exclusives

Exclusive | Hong Kong developer banks on arts and finance synergy in West Kowloon cultural hub

China economy

Opinion | As mainland China charts a new course, Hong Kong writes its next chapter

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Hong Kong

Amid Iran war, Hongkongers choose short-haul high-speed rail trips

With war raging in the Middle East, tickets for mainland Chinese destinations are being snapped up.

The high-speed rail station at West Kowloon. Photo: Sam Tsang
Australia

Hong Kong arts hub strengthens global links with 12 new partnerships

West Kowloon Cultural District Authority signs MOUs with 12 international institutions from Australia, the UK, Saudi Arabia and elsewhere.

Paul Chan

Hong Kong vows to boost green finance and innovation role for sustainable growth

Finance chief Paul Chan says Hong Kong will channel capital and innovation into the global green transition for carbon-neutral development.

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Hong Kong

Hong Kong firms face profit squeeze as US importers cut orders amid oil crisis

City’s business leaders also say government should bolster ties with Central Asia and Asean nations to diversify market risks.

Kwai Chung Container Terminal. Photo: Elson Li
Education in Hong Kong

Opinion | Hong Kong’s education policy must reflect the innovative future it seeks

The city aims to be a leader in the creative and innovation industry, but how much of that vision is translated into its schools?

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Hong Kong property

‘Upstairs’ moves downstairs: Hong Kong shops head to street level as rents fall

Retailers and restaurants adjust to lower rents and weaker demand, with operators expanding at ground level and testing pop-up formats.

Hong Kong stock exchange

Finance chief urges Hong Kong to enhance global standing amid shifting geopolitics

Paul Chan calls on the city to ‘seize the moment’ by deepening integration with mainland China and expanding its bridge role to the West.

Hong Kong has been urged to deepen links with mainland China and expand global engagement. Photo: Jelly Tse
Formula One (F1)

Opinion | F1 could be Hong Kong’s fast lane for economic reinvention

Hong Kong can leverage F1 as a catalyst for branding, industry upgrading and global influence.

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Ferrari’s British driver Lewis Hamilton waves to the fans after the Formula One Chinese Grand Prix at the Shanghai International Circuit in Shanghai on March 15. Photo: AFP
Hong Kong society

Plan for full taxi access to Discovery Bay sparks anger among residents

More than 1,100 people sign petition calling for greater public consultation.

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Drones

Flying start for low-altitude economy goals as 100 drone projects proposed

Some pilot projects are set to launch in the first half of the year, transport chief Mable Chan says.

US, Israel war on Iran

Hong Kong to issue weekly updates on fuel charges to counter price gouging

Environment minister says information will allow public to monitor oil price changes more accurately.

Vehicles get filled up at a petrol station in Sha Tin. Hong Kong’s fuel is mainly supplied by mainland China, according to the environment minister. Photo: Sam Tsang
Cryptocurrency

Has Hong Kong laid the groundwork to become a world-leading crypto hub?

With its regulatory clarity and superconnector edge, the city is drawing global crypto firms as it emerges as a premier Web3 hub.

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Illustration by Lau Ka-kuen
Hong Kong

Hong Kong’s ‘ghost oil’ stations rake in ‘HK$10,000 a day’ as petrol prices soar

Operators are smuggling untaxed petrol into Hong Kong and selling it to car owners via coded WhatsApp messages.

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Hong Kong

Editorial | Global Talent Summit Week affirms Hong Kong’s push for diversity, innovation

The event helps showcase the progress made on attracting talented professionals to the city as it evolves beyond its financial centre role.

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Hong Kong

Hong Kong should use ‘safe haven’ status to draw capital from Gulf: agency chief

InvestHK director general says more firms using Dubai as a hub have shifted to the city to diversify risk because of conflict.

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Businesses that traditionally used Dubai as a hub are moving, InvestHK’s chief says. Photo: Reuters
Hutchison’s Panama ports deal

Panama⁠ accuses CK Hutchison subsidiary of lying about arbitration response

President Jose Raul Mulino slams Panama Ports Company for accusing country of failing to file response to arbitration request.

Hong Kong

Letters | Hong Kong has a chance to lead the world in marine underwriting

Readers discuss developments in shipping, and the implications for Taiwan of US actions in the Iran war.

Education in Hong Kong

Why the slow progress for Hong Kong’s university town?

University leaders urge government to clarify how much land they will get in Northern Metropolis megaproject, saying talks with potential partners can’t move forward.

Illustration: Davies Christian
Northern Metropolis

Editorial | Special laws can help the Northern Metropolis pick up pace

It is vital that the megaproject proceeds as quickly as possible while adhering to standards and monitoring.

A view of San Tin and the Hong Kong-Shenzhen Innovation and Technology Park in Lok Ma Chau, on March 16. Photo: Eugene Lee
HKEX

Editorial | HKEX’s listing reforms will boost Hong Kong’s competitiveness

The measures seek to widen access for innovative firms seeking capital while preserving the city’s standards of financial probity.

Northern Metropolis

Hong Kong finance chief stresses flexibility in pitch for Northern Metropolis

Government will discuss land and financial support with mainland and overseas businesses seeking to take part in project, Paul Chan tells Beijing seminar.

CK Hutchison

CK Hutchison vows to pursue ‘all legal remedies’ over seized Panama ports

Group says diversified network could benefit from higher storage revenue as inventory demand rises amid Strait of Hormuz crisis.

Cristobal port was seized by Panamanian authorities in February. Photo: AFP
Hong Kong Monetary Authority (HKMA)

HKMA warns of interest rate uncertainty amid Middle East conflict

HKMA leaves city’s base rate untouched at 4 per cent, as HSBC, Standard Chartered and BOCHK keep prime lending and saving rates unchanged.

The Hong Kong Monetary Authority maintained the city’s base rate at 4 per cent on Thursday. Photo: Jonathan Wong
Insurance

Editorial | Medical insurance review a timely move for a sector under pressure

Hopefully, the review will open doors to a transparent, digitally accessible and internationally focused insurance market.

Iraq

Hong Kong more attractive to talent amid Middle East tensions, labour chief says

Secretary for Labour and Welfare Chris Sun says fourth of imported workers from various schemes are foreign passport holders.

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