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Hong Kong Financial Secretary Paul Chan Mo-po said that the city’s property market will remain stable despite rising interest rates. In an exclusive interview with the Post, Chan revealed that the government will announce details of the Strategic Tech Fund in August 2022. The finance chief said the new investment fund, announced in his February 2022 budget speech, will benefit both local and foreign companies.
\r\n\r\n(Photo: SCMP / Nora Tam)
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v2.mp4","uri":"oss://d8/cors_uploads/2023/10/09/Selects v2.mp4","filemime":"video/mp4","filesize":"204088886","status":"1","timestamp":"1696837707","display":"1","description":""}}],"plain_text_summary":"Read more: https://sc.mp/66nu?utm_source=copy-link&utm_campaign=3237262&utm_medium=share_widget \r\n\r\nHong Kong leader John Lee has vowed to deepen regional cooperation with Asean countries, underscoring the city’s unique role as a value-added gateway to markets in the Greater Bay Area and the rest of China. 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Read more: https://sc.mp/66nu?utm_source=copy-link&utm_campaign=3237262&utm_medium=share_widget
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The Global Financial Leaders’ Investment Summit opened to the public on November 7, 2023, with Hong Kong’s de facto central bank hosting the largest gathering of financial heavyweights the city has seen in nearly three years. Sebastian Paredes, CEO of DBS Hong Kong, said the fact that influential business leaders flew in to attend the event indicated that \"energy\" was back. But Paredes told the Post that while Covid-19 travel restrictions have lifted, several uncertainties continue to challenge the banking sector.
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Hong Kong will double down on fixing the economy despite facing serious external uncertainties in the year ahead amid continuing geopolitical tensions and high interest rates, the finance chief has said, while also expressing confidence that a slumping property market will not trigger a crisis of confidence.
\r\n
\r\nIn an exclusive interview with the Post on Friday, Financial Secretary Paul Chan Mo-po conceded that while there was “not much” the government could do to navigate the risks posed by the external environment, the authorities planned to redouble efforts to attract talent and companies.
A round-up by senior editors of the biggest news, stories and opinion from Hong Kong.
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For more on this: https://sc.mp/tzdh
\r\n\r\nA growing number of Hongkongers have been travelling north to the mainland Chinese city of Shenzhen on shopping sprees, drawn by wider retail choices and the relative strength of the Hong Kong dollar against China’s yuan. Among the droves of bargain hunters are those taking cross-border buses or signing up for shopping tours to visit a US warehouse supermarket in Shenzhen.
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While property prices are now experiencing a cooling trend, buying a home remains an unattainable dream for most residents. But why is that, and what is the government doing to address the issue?","body":"
It is no secret that Hong Kong is one, if not the most, expensive places in the world to own a home. While property prices are now experiencing a cooling trend, buying a home remains an unattainable dream for most residents. But why is that, and what is the government doing to address the issue?
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Read more on this: https://sc.mp/onzhp
\r\n\r\nThe Cheung Chau Bun Festival is a traditional event in Hong Kong believed to date back to the 18th or 19th century, when it was first held to celebrate the end of a plague. Also known as the Da Jiu Festival, the focal point of the annual event is a popular race where competitors scramble up a tower covered with buns. Over the years, the festival has seen several disruptions including an accident during one bun-snatching competition, which triggered a 26-year suspension that was only lifted after safety standards were improved.
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Video Producer
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Government workers must safeguard national security as the first of 12 core values under a newly revised code, which also states that civil servants are forbidden from criticising government policies while acting in an official capacity. Secretary for the Civil Service Ingrid Yeung Ho Poi-yan dismissed concerns...","body":"
Hong Kong’s civil service chief said the government will monitor the commitment of its 173,000 workers by observing how they uphold national security as they go about “daily work”. Government workers must safeguard national security as the first of 12 core values under a newly revised code, which also states that civil servants are forbidden from criticising government policies while acting in an official capacity. Secretary for the Civil Service Ingrid Yeung Ho Poi-yan dismissed concerns that the new rule would hinder the raising of constructive views. She said “basic work ethics” dictate that workers should wholeheartedly support management decisions. Yeung also said the government would not police workers’ social media accounts but would investigate any complaints.
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Lee said he regarded the government offices as “jewels” that others aim to attack amid a “propaganda war” and vowed not to change ETO trade-promotion activities.","body":"
Read more about the story: https://sc.mp/xfflc
\r\n\r\nIn an interview with the Post to mark his second anniversary as Hong Kong’s leader, John Lee said threats from US politicians to close Hong Kong’s three Economic and Trade Offices (ETOs) there underscore their “great value”. Lee said he regarded the government offices as “jewels” that others aim to attack amid a “propaganda war” and vowed not to change ETO trade-promotion activities.
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But he faces formidable challenges, stemming from geopolitical tensions between China and the West with Hong Kong caught in the middle. Lee discusses all this and more with the Post's managing editor of content, Yonden Lhatoo, in this episode of Talking Post.","body":"
Two years after taking office as Hong Kong's chief executive, John Lee has shifted his focus from enforcing national security to improving the lives of residents and rebuilding the city's economy. But he faces formidable challenges, stemming from geopolitical tensions between China and the West with Hong Kong caught in the middle. Lee discusses all this and more with the Post's managing editor of content, Yonden Lhatoo, in this episode of Talking Post.
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Deng, Thailand’s star pygmy hippo, celebrates first 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Download the SCMP App:
\r\n\r\nhttps://scmp.onelink.me/3586748601/lbk991p1
\r\n\r\nAs Hong Kong tries to boost its stubbornly low birth rate, many young people in the overstressed city continue to shower their love on cats rather than children. In this week’s episode of #852stories, Post reporter Sammy Heung speaks with feline fans at the Hong Kong Cat Expo. Among them is Jennifer Cheung, the owner of Ho Choi, who is the highest-scoring domestic cat at a regional cat contest this year. Like many Hongkongers, Cheung faces pressure from her family to start having children. However, an increasing number say the mental health benefits and pure joy of taking care of their cats is all they need to be happy.
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City leader John Lee delivered his annual policy address on October 16, 2024, rolling out a host of measures to attract foreign talent and investment, while also announcing a surprise easing of mortgage restrictions. The third policy address of Lee’s five-year term has been considered a make-or-break blueprint in the government’s attempts to address the city’s economic troubles, after previous ones focused on national security and post-pandemic recovery measures.
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Read the full story: https://sc.mp/qrvrs
\r\n\r\nThousands of Halloween revellers, dressed in colourful costumes, flocked to Hong Kong’s Lan Kwai Fong nightlife area on October 31, 2024. Police introduced crowd-control measures early on, closing roads in phases starting from 2pm and implementing a one-way pedestrian flow as the crowd size grew later in the evening. Police recently installed new security cameras in the iconic entertainment hotspot to strengthen crowd management. The cameras come with a new crowd-counting feature that uses video analytics to assess crowd density. They are part of a broader police initiative to install 2,000 such devices across the city by 2025, with 2,000 to 2,500 to be added annually.
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Associate Producer
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Read more about this: https://sc.mp/vhc3x
\r\n\r\nHong Kong is preparing dozens of trial events at the city’s enormous new Kai Tak Sports Park ahead of its official opening in the first quarter of 2025. The park will cover about 28 hectares (69 acres), making it the city’s largest venue for sports and other mega-events. The main stadium is set to host several mega-events in the coming year including a series of concerts by British rock band Coldplay. Tens of thousands of fans are expected to pour out after the shows, but will the stadium be able to cope with the crowds? The Post wanted to find out just how walkable Kai Tak Stadium really is, so we sent three reporters on foot to walk from the facility to the nearest public transport hubs. Here is what they found out.
\r\n
Video Producer
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Kong Chief Executive John Lee Ka-chiu greeted Chinese President Xi Jinping at the airport in the Peruvian capital on November 14, 2024. They will attend this year’s Asia-Pacific Economic Cooperation (Apec) conference, taking place in the South American country. The pair shook hands on the airport apron after Xi’s flight landed in Lima.\r\n\r\nSource: Hong Kong Information Service Department ","body":"
Hong Kong Chief Executive John Lee Ka-chiu greeted Chinese President Xi Jinping at the airport in the Peruvian capital on November 14, 2024. They will attend this year’s Asia-Pacific Economic Cooperation (Apec) conference, taking place in the South American country. The pair shook hands on the airport apron after Xi’s flight landed in Lima.
\r\n\r\nSource: Hong Kong Information Service Department
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a grocery chain from mainland China, made its debut in Hong Kong in September 2024. The new chain quickly drew attention from locals because of its impressively low prices, such as a can of Coca-Cola for HK$3 (US$0.39) or a 375ml bottle of whisky for HK$25 (US$3.21). The prices are significantly cheaper than in many mainstream supermarket chains. So, can traditional Hong Kong supermarkets hold their ground against this fresh competitor? In our quest to find affordable products in the...","body":"
HotMaxx, a grocery chain from mainland China, made its debut in Hong Kong in September 2024. The new chain quickly drew attention from locals because of its impressively low prices, such as a can of Coca-Cola for HK$3 (US$0.39) or a 375ml bottle of whisky for HK$25 (US$3.21). The prices are significantly cheaper than in many mainstream supermarket chains. So, can traditional Hong Kong supermarkets hold their ground against this fresh competitor? In our quest to find affordable products in the city, Post reporter Connor Mycroft checked out the merchandise for sale and talked to small vendors who were competing in a tough market.
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The Post spoke to analysts on how to fix the city’s snowballing debt. \r\n\r\n 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deficit_v2.mp4","uri":"oss://d8/cors_uploads/2025/01/08/WEB_HK deficit_v2.mp4","filemime":"video/mp4","filesize":"1886039985","status":"1","timestamp":"1736327597","display":"1","description":""}}],"plain_text_summary":"Read more here: https://sc.mp/zrufv\r...","body":"
Read more here: https://sc.mp/zrufv
\r\n\r\nHong Kong’s deficit is expected to hit nearly HK$100 billion (US$12.8 billion) in the 2024-25 financial year. Financial Secretary Paul Chan Mo-po has pledged to focus on curbing growth in recurring expenses and prioritising public works to rebalance the budget in the next three to five years. But is that enough to fix the snowballing debt? Post reporter Edith Lin sat down with Gary Ng, senior economist at Natixis, and Caspar Tsui, the executive director of The Federation of Hong Kong Hotel Owners, to discuss ways the city could tackle its deficit. Tsui is also the city’s former secretary for home affairs and the former undersecretary for labour and welfare of Hong Kong.
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Read more about this: https://sc.mp/3wlyi
\r\n\r\nHong Kong’s leader vowed the city will stand firm in its role as an international free port, as he set out strategies for further integration with mainland China and to pursue free trade deals with more economies to mitigate the impact of the US tariffs. Chief Executive John Lee Ka-chiu slammed the United States on April 7, 2025, for undermining global trade and bringing risks and uncertainties to the world through its “reckless imposition of tariffs”.
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Read more about Hong Kong: https://sc.mp/14b658
\r\n\r\nHong Kong has long been known as an international financial hub where fortunes are made in office towers that form the city’s iconic skyline. Its free-market economy has given rise to some of Asia's wealthiest and most powerful families and firms. But beneath the glitz and glamour lies a sobering level of inequality. Some people are unable to pay for basic groceries due to rising inflation, while others live on the streets despite having paid jobs. Poverty alleviation is a major goal cited by the city's government and authorities have targeted the problem with several task forces, including one focused on the issue of subdivided flats. However, many challenges remain.
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The event organiser was forced to scrap balloon rides because it could not get a permit in time. Its initial failure to offer refunds sparked the ire of visitors like Ho, whose comments attracted widespread attention.\r\n\r\n ","body":"
Hong Kong resident Dreamy Ho has become something of an online sensation after a video of her complaining about a September 2025 hot-air balloon event in the city went viral. The event organiser was forced to scrap balloon rides because it could not get a permit in time. Its initial failure to offer refunds sparked the ire of visitors like Ho, whose comments attracted widespread attention.
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bustling streets in Hong Kong’s Nga Tsin Wai Road and Carpenter Road area have gone quiet as shops shut during a redevelopment push, leaving Lam Kee Grocery as one of the last still in business.\r\n\r\n ","alt":"The bustling streets in Hong Kong’s Nga Tsin Wai Road and Carpenter Road area have gone quiet as shops shut during a redevelopment push, leaving Lam Kee Grocery as one of the last still in business.\r\n\r\n 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City, an area in Hong Kong known for its Chiu Chow and Thai influences, is undergoing a redevelopment project that some blame for the demise of many long-running family businesses in the tight-knit community. One of the few shops remaining in the area is the decades-old Lam Kee Grocery, but its owners say they only have about five more years before they will also face eviction. The Nga Tsin Wai Road - Carpenter Road Development Scheme commenced in 2022 and is set to be completed by...","body":"
Kowloon City, an area in Hong Kong known for its Chiu Chow and Thai influences, is undergoing a redevelopment project that some blame for the demise of many long-running family businesses in the tight-knit community. One of the few shops remaining in the area is the decades-old Lam Kee Grocery, but its owners say they only have about five more years before they will also face eviction. The Nga Tsin Wai Road - Carpenter Road Development Scheme commenced in 2022 and is set to be completed by 2038.
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more about this: https://sc.mp/a12dfc\nHong Kong’s bar scene is going through tough times, with a wave of closures rocking the industry in 2025. The downturn comes even as some of the city’s home-grown bars are earning international kudos. So what is behind the change in fortunes for the city’s once-thriving bar industry?","body":"
Read more about this: https://sc.mp/a12dfc
\nHong Kong’s bar scene is going through tough times, with a wave of closures rocking the industry in 2025. The downturn comes even as some of the city’s home-grown bars are earning international kudos. So what is behind the change in fortunes for the city’s once-thriving bar industry?
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ntation":"portrait","plain_text_summary":"Photographers and everyday users in Hong Kong are being hit by surging prices for hard drives and SD cards, with some popular models and pro-grade camera cards nearly doubling in just a few months. Manufacturers are diverting production away from low-margin consumer storage into high-end chips and enterprise hardware to feed booming demand for artificial intelligence and data centres, creating shortages on the retail side. Experts warn that basic storage will stay pricey at least until year...","body":"
Photographers and everyday users in Hong Kong are being hit by surging prices for hard drives and SD cards, with some popular models and pro-grade camera cards nearly doubling in just a few months. Manufacturers are diverting production away from low-margin consumer storage into high-end chips and enterprise hardware to feed booming demand for artificial intelligence and data centres, creating shortages on the retail side. Experts warn that basic storage will stay pricey at least until year-end, and the squeeze on memory could push up the cost of desktops, laptops, smartphones and tablets by as much as 15 to 20 per cent next year.
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