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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.
A young customer at a claw machine in a Wan Chai games arcade. Photo: Jelly Tse
Hong Kong society

Law change could require claw machines to display odds and licensee details

Home affairs minister Alice Mak says higher prize value and payouts will be considered but priority is protecting customers and preventing addiction.

Education in Hong Kong

Graduates of top vocational school spared brunt of AI impact, new chairman says

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Hong Kong

Editorial | Prosperity summit showcases Hong Kong’s intellectual leadership

Banking & finance

Standard Chartered CEO apologises for ‘lower-value human capital’ remarks

Winters expresses regret for his choice of words describing how AI would replace some workers at the lender.

Standard Chartered CEO Bill Winters. Photo: Jonathan Wong
BTS

K-pop stars BTS to hold 3 concerts at Hong Kong’s Kai Tak Stadium in 2027

Boy band will perform on March 4, 6 and 7 as part of their ‘Arirang’ world tour, with tickets to sell for up to HK$3,299 each.

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Britain

Hong Kong trade office in London can continue ‘legitimate activity’: UK official

UK government resists calls to revoke Hong Kong trade office privileges after spy case, but insists it will act against any threat to security.

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Artificial intelligence

Exclusive | Northern Metropolis industrial park draws ‘global interest’ from AI, green firms

Hung Shui Kiu Industry Park Company chairman Jeffrey Lam targets July 2027 launch as ‘gift’ for 30th anniversary of return to Chinese sovereignty.

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Hong Kong’s Hung Shui Kiu industry hub is drawing global interest from from AI and green firms, according to chairman Jeffrey Lam. Photo: Elson Li
Hong Kong housing

Anxiety, depression plague up to 66% of Hong Kong subdivided flat tenants: NGO

NGO survey reveals 40 per cent of earnings go to rent as families struggle to raise children with special needs in cramped flats.

Hong Kong politics

Hong Kong’s Central Asia pivot aims to boost belt and road role, analysts say

Kazakhstan and Uzbekistan are logical destinations for city to pursue business opportunities amid geopolitical uncertainty, analysts say.

Hong Kong society

Editorial | Compliance matters for social acceptance of pet-friendly restaurants

How the scheme turns out will have a big impact on its adoption. The reality is that having dogs in restaurants is not everyone’s cup of tea.

A poodle is kept on a lead outside a restaurant in Happy Valley on May 11. Photo: Nora Tam
Hong Kong tourism

Opinion | Hong Kong’s tourism rebound needs new measures of success

Rather than count footfall and events, the city should focus on spending and impact, plan district tourism seriously and work on new assumptions.

Tourists visit High Island Reservoir East Dam, a cornerstone of Hong Kong’s Unesco Global Geopark, in Sai Kung on May 1. Photo: Dickson Lee
Gold in Hong Kong

Hong Kong minister touts gold as ‘bridge between conventional and new finance’

Treasury chief Christopher Hui also says city opted against separate regulatory authority for digital assets to support ‘convergence’.

Insurance

Opinion | How war-risk marine insurance can set Hong Kong apart

Marine insurance is part of the power structure in global shipping. It reveals a real gap China still faces, which Hong Kong can fill.

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Hong Kong workers/labour rights

Letters | Hong Kong must match worker to job. More training is not enough

Readers call for the introduction of professional career coaching, a flexible ride-hailing framework, and more creativity for local restaurants.

People walk on the streets of Hong Kong’s Central district during lunch hour on January 30. Photo: Karma Lo
Paul Chan

Hong Kong’s market surge drives ‘fear of missing out’ among French investors

Finance chief Paul Chan says shift fuelled by city’s strong market performance and improved geopolitical situation, especially after Xi-Trump summit.

Hong Kong Financial Secretary Paul Chan (right) meets local banking and finance leaders in Paris. Photo: Handout
John Lee

Exclusive | Kazakhstan to deepen financial services cooperation with Hong Kong, consul says

Envoy Bauyrzhan Dosmanbetov attributes growth of local Kazakhstani community to Belt and Road Scholarship programme launched in 2016.

Central Asia

Editorial | Central Asia trip will open new horizons of prosperity for Hong Kong

After years of promoting the city in the Middle East and Southeast Asia, it is sensible for city leaders to look to Central Asia.

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Hong Kong environmental issues

Visitor quotas needed to protect country parks, 4 trails challenge founder says

Andre Blumberg, who created 298km ultra-marathon, says recent scenes of overcrowding in country parks left him feeling ‘quite disturbed’.

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Tourists flock to scenic Po Pin Chau during the recent “golden week” holiday. Photo: Dickson Lee
Hong Kong transport

MTR Corp on track with new Tung Chung West station

MTR Corporation says it will complete tunnel boring by September.

Hong Kong property

‘Aggressive pricing’: Able Engineering tops titans’ bids in Hong Kong land sale

Able Engineering outperforms analyst forecasts to secure a residential parcel that can fit nearly 1,000 units, and the win is seen reflecting rising confidence in the sector.

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Hong Kong transport

Ride-hailing licence cap ‘must strike a balance’ in Hong Kong, John Lee says

Chief Executive says unique local conditions and passenger experience will determine city’s ride-hailing cap.

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Ride-hailing platform Uber warned that a cap of 15,000 vehicles would lead to higher fares and more unsuccessful ride requests. Photo: Karma Lo
John Lee

John Lee to visit Kazakhstan, Uzbekistan, taking largest-ever delegation overseas

Chief executive will lead a group of more than 60 businesspeople from Hong Kong and mainland China to Central Asian countries.

Chief Executive John Lee will travel to Kazakhstan and Uzbekistan next month to explore and seize new business opportunities. Photo: Karma Lo
Hong Kong environmental issues

Opinion | Mass tourism is not ecotourism. Hong Kong must do better on this soon

The Yangtze’s turnaround was made possible by the political will to resist economic pressure. Hong Kong should implement similar principles.

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Switzerland

Hong Kong finance chief woos French wealth managers as European tour starts

Paul Chan, who arrived in Paris on Monday, met representatives of French asset management association and think tank Asia Centre in Paris, sources say.

Hong Kong healthcare and hospitals

Editorial | Hong Kong shares its public health bona fides with global investors

For a city with a strong reputation for reinvention, focusing on medical technology is a logical step for economic growth and patient care.

Secretary for Health Lo Chung-mau attends the Asia Summit on Global Health at Hong Kong Convention and Exhibition Centre on May 11. Photo: Sam Tsang
Hong Kong society

Hong Kong’s dog-friendly restaurant scheme receives 700 applications on first day

Restaurants rush to apply, with 70 per cent of 1,000 first-phase licences filled ahead of expected July roll-out.

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Hong Kong’s dog-friendly dining scheme got off to a strong start with 700 applications for licences on the first day. Photo: Dickson Lee
Hong Kong transport

‘Several thousand’ ride-hailing licences won’t cover demand, advisory panel says

Transport Advisory Committee chairman says he expects initial level to be ‘somewhere around 10,000’ vehicle licences.

Hong Kong national security law

Hong Kong earmarks additional HK$5 billion for national security

Fresh allocation brings total funding to HK$18 billion over five years.

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