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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.
Hong Kong and the United States have an economic relationship that stretches back many decades. But in a May 29, 2020, statement, US President Donald Trump said that Washington was ready to end preferential trade relations with the city, leaving many speculating about Hong Kong’s economic future. The US move was in response to China’s plans to enact a controversial new national security law for Hong Kong, that critics fear will have serious repercussions for human rights and freedom of expression. Loss of the US special trading status, which has historically allowed Hong Kong to be treated as a different economic entity from the Chinese mainland, would have major implications for both parties. The South China Morning Post takes a look at the deep economic ties that bind these trading partners.
Hong Kong hotels were the biggest losers in Asia’s hospitality industry in the first-quarter, as travel bans and lock-down orders to contain the global coronavirus pandemic kept business travellers and tourists away, hitting the financial hub particularly hard.
Hong Kong hotels were the biggest losers in Asia’s hospitality industry in the first-quarter, as travel bans and lock-down orders to contain the global coronavirus pandemic kept business travellers and tourists away, hitting the financial hub particularly hard.
HKMA unveils a US$1.4 million wage subsidy programme to spur hiring in financial sector for Class of 2020 graduates amid a bleak job market outlook.
HKMA unveils a US$1.4 million wage subsidy programme to spur hiring in financial sector for Class of 2020 graduates amid a bleak job market outlook.
Several categories of the city’s human security are under threat, with government legitimacy weak, civil liberties eroded, a stressed public health system and major economic sectors and jobs endangered
Several categories of the city’s human security are under threat, with government legitimacy weak, civil liberties eroded, a stressed public health system and major economic sectors and jobs endangered
Sydney-based bank had sublet the space on the 20th floor in One IFC to flexible office space operator since 2015.
Sydney-based bank had sublet the space on the 20th floor in One IFC to flexible office space operator since 2015.
Seventy per cent of the 180 firms polled by the influential US business group say they have no plans to move capital, assets or operations outside the city
Seventy per cent of the 180 firms polled by the influential US business group say they have no plans to move capital, assets or operations outside the city
The 44 Hong Kong stock funds under the MPF scheme on reported an average loss of 4 per cent last month, the worst among all fund categories.
The 44 Hong Kong stock funds under the MPF scheme on reported an average loss of 4 per cent last month, the worst among all fund categories.
Emerging Asian economies have been hit on all sides by Covid-19, with crumbling exchange rates, inflated foreign debts and the collapse of trade, commodity prices, tourism and investment.
Emerging Asian economies have been hit on all sides by Covid-19, with crumbling exchange rates, inflated foreign debts and the collapse of trade, commodity prices, tourism and investment.
With unemployment in Hong Kong now running at a 10-year high, graduates have had to temper their career ambitions. But all is not lost: a little understanding from parents will go a long way.
With unemployment in Hong Kong now running at a 10-year high, graduates have had to temper their career ambitions. But all is not lost: a little understanding from parents will go a long way.
Hong Kong’s status as a trading hub and shopping paradise will not be overtaken by Hainan province, at least in short term, says head of small-business chamber.
Hong Kong’s status as a trading hub and shopping paradise will not be overtaken by Hainan province, at least in short term, says head of small-business chamber.
Vanke sells 93 out of 94 flats in the second batch of its popular residential project even after raising prices slightly.
Vanke sells 93 out of 94 flats in the second batch of its popular residential project even after raising prices slightly.
The Executive Council’s decision reverses earlier recommendations by an official pay trend committee of increases of up to nearly 2 per cent.
The Executive Council’s decision reverses earlier recommendations by an official pay trend committee of increases of up to nearly 2 per cent.
An email from all AmCham employees was sent to the board in May, raising concerns over the approval of Joseph’s HK$300,000 bonus.
An email from all AmCham employees was sent to the board in May, raising concerns over the approval of Joseph’s HK$300,000 bonus.
Beijing has outlined plans to turn Hainan into a “free trade port” similar to Hong Kong, as China faces an increasingly uncertain global economic environment.
Beijing has outlined plans to turn Hainan into a “free trade port” similar to Hong Kong, as China faces an increasingly uncertain global economic environment.
Young home seekers like bank employee Angela Leung are willing to bide their time for a chance to own a subsidised flat in Hong Kong’s ‘seriously unaffordable’ housing market.
Young home seekers like bank employee Angela Leung are willing to bide their time for a chance to own a subsidised flat in Hong Kong’s ‘seriously unaffordable’ housing market.
Buyers are likely to balk at the HK$3.1 billion to HK$5 billion estimates for the six mansions in the current economic and political climate, say market observers.
Buyers are likely to balk at the HK$3.1 billion to HK$5 billion estimates for the six mansions in the current economic and political climate, say market observers.
Total retail sales dropped by 36.1 per cent year on year in April, improving slightly from the 42.1 per cent year-on-year contraction in March.
Total retail sales dropped by 36.1 per cent year on year in April, improving slightly from the 42.1 per cent year-on-year contraction in March.
Tara Joseph, president of the American Chamber of Commerce in Hong Kong, spoke to the South China Morning Post about the city’s current economic situation and future.
Tara Joseph, president of the American Chamber of Commerce in Hong Kong, spoke to the South China Morning Post about the city’s current economic situation and future.
Financial services workers in Hong Kong hit with pay cuts, saw annual bonuses slashed as coronavirus weighs on economy, according to headhunters.
Financial services workers in Hong Kong hit with pay cuts, saw annual bonuses slashed as coronavirus weighs on economy, according to headhunters.
Global brands must live up their corporate social responsibility pledges and honour their commitments to suppliers or risk causing millions to become jobless.
Global brands must live up their corporate social responsibility pledges and honour their commitments to suppliers or risk causing millions to become jobless.
Staff side of the Disciplined Services Consultative Council, which covers about 50,000 workers, says it is strongly opposed to proposal in the community to adopt a salary freeze.
Staff side of the Disciplined Services Consultative Council, which covers about 50,000 workers, says it is strongly opposed to proposal in the community to adopt a salary freeze.
‘Who would object to plans to catch the thieves? The thieves themselves,’ city’s mainland affairs chief says in swatting down criticisms by outside politicians.
‘Who would object to plans to catch the thieves? The thieves themselves,’ city’s mainland affairs chief says in swatting down criticisms by outside politicians.
Pro-establishment figures dismissive of likely impact from Trump’s declaration that changes to city’s economic privileges are coming. Joshua Wong says sanctions will apply in tandem with passage of national security law.
Pro-establishment figures dismissive of likely impact from Trump’s declaration that changes to city’s economic privileges are coming. Joshua Wong says sanctions will apply in tandem with passage of national security law.
“The weak growth trajectory of the hotel industry was further dragged down by the Covid-19 outbreak and this is expected to continue in the first half of 2020,” Knight Frank’s “Greater China Hotel Report” said.
“The weak growth trajectory of the hotel industry was further dragged down by the Covid-19 outbreak and this is expected to continue in the first half of 2020,” Knight Frank’s “Greater China Hotel Report” said.
Demand for the currency surged after China’s legislature endorsed a resolution on a national security law for Hong Kong, money exchange shop owners say.
Demand for the currency surged after China’s legislature endorsed a resolution on a national security law for Hong Kong, money exchange shop owners say.
Venues must still follow preventive measures to curb spread of Covid-19, and operators say patrons are unaware they have reopened.
Venues must still follow preventive measures to curb spread of Covid-19, and operators say patrons are unaware they have reopened.
As others lose their jobs in the wake of the coronavirus crisis, well-paid government employees in secure positions should be seen to stand with the community at this difficult time
Public health must not be compromised with the easing of restrictions in a society that longs to put the coronavirus outbreak behind it.
With troubled Hong Kong fearing a loss of investor and business confidence, proposed headquarters move from Singapore by ride-hailing giant should be actively encouraged.