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Paul Chan Mo-po is Hong Kong's financial secretary. An accountant and the former president of the Hong Kong Institute of Certified Public Accountants (HKICPA), he was appointed development secretary by Chief Executive Leung Chun-ying after the resignation of Mak Chai-kwong following a housing allowance scandal. In July 2013, Chan was accused of a conflict of interest when it was revealed that he or his family had an interest in a plot of land in the New Territories that the government had plans to develop. In January 2017, he was named to his current position.
- More than 61 per cent believe the national security law will have positive impact on businesses in the long-run
- Business sector opposes any sanctions as they may hurt both companies in Hong Kong and spread the pain overseas
Financial Secretary Paul Chan’s remarks came as other top officials also spoke out in support of the central government’s controversial move.
Financial Secretary Paul Chan’s remarks came as other top officials also spoke out in support of the central government’s controversial move.
Hongkongers are less bearish about the city’s residential market after two major calamities in the past year have made prices cheap enough to excite some buyers, a Citigroup survey finds.
Hongkongers are less bearish about the city’s residential market after two major calamities in the past year have made prices cheap enough to excite some buyers, a Citigroup survey finds.
Demonstrations could rob city’s shops and restaurants of ‘window of relief’ provided by loosening of Covid-19 social-distancing measures, he writes.
Demonstrations could rob city’s shops and restaurants of ‘window of relief’ provided by loosening of Covid-19 social-distancing measures, he writes.
Preliminary figure is even worse than in the third quarter of 1998 when GDP tumbled 8.3 per cent as the city reeled from the effects of the Asian financial crisis.
Preliminary figure is even worse than in the third quarter of 1998 when GDP tumbled 8.3 per cent as the city reeled from the effects of the Asian financial crisis.
Proposal for restaurants was said to be raised at government meeting over the weekend, with health advisers endorsing move and an announcement expected in the week.
Proposal for restaurants was said to be raised at government meeting over the weekend, with health advisers endorsing move and an announcement expected in the week.
Financial Secretary Paul Chan says economy could shrink by between 4 and 7 per cent and impact of coronavirus will be ‘more serious and long-lasting’ than first thought.
Financial Secretary Paul Chan says economy could shrink by between 4 and 7 per cent and impact of coronavirus will be ‘more serious and long-lasting’ than first thought.
Paul Chan says government is on top of risks during coronavirus crisis relating to the currency, bank liquidity and the smooth running of markets.
Paul Chan says government is on top of risks during coronavirus crisis relating to the currency, bank liquidity and the smooth running of markets.
HK$137.5 billion package to combat coronavirus crisis is urgently needed, and must not be held up by filibustering tactics.
HK$137.5 billion package to combat coronavirus crisis is urgently needed, and must not be held up by filibustering tactics.
The city is bracing for a massive funding shortfall as the health crisis wreaks havoc on the economy. But Paul Chan says the government will not sell debt to cover expenditures although bonds might be issued for infrastructure projects.
The city is bracing for a massive funding shortfall as the health crisis wreaks havoc on the economy. But Paul Chan says the government will not sell debt to cover expenditures although bonds might be issued for infrastructure projects.
Paul Chan says authorities are working to help employers and prevent as many SMEs as possible from folding.
Paul Chan says authorities are working to help employers and prevent as many SMEs as possible from folding.
As listed restaurant chains follow government measures to control the Covid-19 outbreak, it will only put further pressure on their bottom lines and dampen retail spending.
As listed restaurant chains follow government measures to control the Covid-19 outbreak, it will only put further pressure on their bottom lines and dampen retail spending.
Paul Chan says the unemployment rate, already at a nine-year high, is likely to increase. Calling on the finance sector to lend a hand, he notes ‘many small and medium-sized enterprises in many industries are experiencing a cliff-edge fall in business’.
Paul Chan says the unemployment rate, already at a nine-year high, is likely to increase. Calling on the finance sector to lend a hand, he notes ‘many small and medium-sized enterprises in many industries are experiencing a cliff-edge fall in business’.
Global economic volatility has exerted further pressure on Hong Kong, Financial Secretary Paul Chan says, warning that catering, retail, hotel and construction sectors will be hit hard.
Global economic volatility has exerted further pressure on Hong Kong, Financial Secretary Paul Chan says, warning that catering, retail, hotel and construction sectors will be hit hard.
Financial Secretary Paul Chan also promises that the government will create more jobs as he sets out his views in a panel discussion held by the Post as part of its Redefining Hong Kong series.
Financial Secretary Paul Chan also promises that the government will create more jobs as he sets out his views in a panel discussion held by the Post as part of its Redefining Hong Kong series.
Financial technology start-ups are lobbying the government for financial support to help the industry overcome the impact of coronavirus outbreak and social unrest.
Financial technology start-ups are lobbying the government for financial support to help the industry overcome the impact of coronavirus outbreak and social unrest.
Paul Chan points to bleak adjustments on growth by economic agency and IMF, as well as lowered interest rates in central banks of Western countries.
Paul Chan points to bleak adjustments on growth by economic agency and IMF, as well as lowered interest rates in central banks of Western countries.
Weary from the coronavirus fallout and the ongoing threat of violent unrest, Hong Kong migrants and residents consider building a new life elsewhere.
Weary from the coronavirus fallout and the ongoing threat of violent unrest, Hong Kong migrants and residents consider building a new life elsewhere.
It is the government’s duty to protect the welfare of low-skilled workers. It must have companies pledge not to lay off workers, in exchange for aid.
It is the government’s duty to protect the welfare of low-skilled workers. It must have companies pledge not to lay off workers, in exchange for aid.
As the coronavirus outbreak has caused an unprecedented amount of suffering, the Hong Kong government should help the people of Hubei and express the goodwill of Hong Kong society, which has a tradition of supporting compatriots in need.
As the coronavirus outbreak has caused an unprecedented amount of suffering, the Hong Kong government should help the people of Hubei and express the goodwill of Hong Kong society, which has a tradition of supporting compatriots in need.
Government warns resurgence of violence, with city in throes of public health crisis, poses major threat to the economy.
Government warns resurgence of violence, with city in throes of public health crisis, poses major threat to the economy.
Paul Chan says decision was already being discussed before it was announced hours after island state’s move to cut ministerial wages.
Paul Chan says decision was already being discussed before it was announced hours after island state’s move to cut ministerial wages.
Development secretary Michael Wong says design proposals will matter as much as price bids for plot of land on city’s harbourfront.
Development secretary Michael Wong says design proposals will matter as much as price bids for plot of land on city’s harbourfront.
Credit agency predicts spending will continue to rise as city addresses underlying issues, including increasing societal divisions.
Credit agency predicts spending will continue to rise as city addresses underlying issues, including increasing societal divisions.
Lawmakers say separate funding will help government deliver handout sooner, but Paul Chan says it is not possible to speed up preparations.
Lawmakers say separate funding will help government deliver handout sooner, but Paul Chan says it is not possible to speed up preparations.
Fielding questions on a radio show, city’s finance chief defends eligibility rules for HK$10,000 giveaway.
Fielding questions on a radio show, city’s finance chief defends eligibility rules for HK$10,000 giveaway.
Force insiders cite latest budget announcement and say this is to deal with more social unrest in a city rocked by anti-government movement since last June.
Force insiders cite latest budget announcement and say this is to deal with more social unrest in a city rocked by anti-government movement since last June.
Hong Kong Growth Portfolio will be similar to Singapore’s sovereign fund, and cash will be invested in companies and projects related to the city.
Hong Kong Growth Portfolio will be similar to Singapore’s sovereign fund, and cash will be invested in companies and projects related to the city.
With hundreds of billions of dollars still in reserves, Hong Kong’s finance chief has room to manoeuvre as city tries to recover from last year’s social unrest and this year’s coronavirus pandemic.
Financial Secretary Paul Chan has somehow managed to handle a tough juggling act, acceding to demands for a cash handout while also seeing that struggling sectors have an opportunity to stay afloat.
For a government sitting on a pile of money, it’s never wrong to give some of it back to its real owners, the people of Hong Kong; still, one only wishes any handouts could be done in a more effective and equitable way.