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

Paul Chan

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

John Lee

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

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.

Chief Executive John Lee Ka-chiu and Uzbek Prime Minister Abdulla Aripov attend the Uzbekistan-China (Hong Kong) Business Forum on May 6. Photo: Karma Lo
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’.

Hong Kong transport

MTR Corp on track with new Tung Chung West station

MTR Corporation says it will complete tunnel boring by September.

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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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The Tung Chung New Town Development is seen in 2024. Photo: Jelly Tse
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.

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.

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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Tourists enjoy hotpot on the beach at Ham Tin Wan on May 2, during the Labour Day “golden week” holiday. Photo: Edmond So
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 Financial Secretary Paul Chan Mo-po in Paris. Photo: Handout
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.

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 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.

Taxi drivers are worried that ride-hailing platforms will take away their business. Photo: Edmond So
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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The latest funding marks the third non-recurrent expenditure from the city government for national security spending. Photo: Jelly Tse
Hong Kong politics

Opinion | Why set a limit for Hong Kong’s ride-hailing services?

The administration’s views on how to best regulate ride-hailing are mostly sound, with one glaring exception.

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Hong Kong

Hung Shui Kiu industrial park operator eyes bond issuance, tax cuts for firms

Incoming chairman Jeffrey Lam outlines park’s financing and offerings, says operator will first rely on government’s HK$10 billion injection.

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Paul Chan

Hong Kong’s Paul Chan is heading to Europe. So what’s on the itinerary?

Finance chief’s trip announced on Sunday and follows easing of tensions after US President Donald Trump visited mainland China.

Financial Secretary Paul Chan’s trip will take him to Paris, Brussels and Zurich. Photo: Handout
Hong Kong

How can Hong Kong seize opportunities as US-China relations stabilise?

InvestHK chief says city must adapt to changing international order while chamber boss suggests firms build cross-regional strategies.

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Crime in Hong Kong

Hong Kong’s MPF authority flags fraudulent certificates in early pension payouts

Medical groups alert police over suspected fake certificates using doctors’ details to support early pension withdrawals on health grounds.

Hong Kong transport

My Take | Passengers must not be left behind in ride-hailing debate

There is high demand for the platforms in Hong Kong. The priority must be to ensure that the service is good.

Ride-hailing apps are seen on a mobile phone while a Hong Kong taxi passes by in Tsim Sha Tsui. Photo: Jelly Tse
Hong Kong

Scalpers list Swatch-Audemars Piguet watches hours after launch in Hong Kong

Dozens braved rain and queued for days to snap up ceramic pocket watches, with resale prices nearly seven times their retail value.

People queue up outside the Swatch store on the first day of the “Royal Pop” collection sale in Tsim Sha Tsui. Photo: Edmond So
Hong Kong property

Buyers flock to SHKP project in New Territories as home market outlook brightens

SHKP generated more than HK$1 billion after the sale of the 154 flats at Lime Spark last week.

Hong Kong society

Letters | Making Hong Kong home for mainland Chinese students a work in progress

Readers discuss ways to build a sense of belonging for talent retention, plans to extend MTR South Island line, and a teacher’s role in supporting mental health.

Tourism

Opinion | How to prevent Hong Kong from becoming just another Asian city

As urban experiences become more homogenous, Hong Kong must lead with what makes it different if it hopes to keep bringing in visitors.

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Illustration: Craig Stephens
SCMP Exclusives

Exclusive | Hong Kong to test first flying cars carrying heavy cargo within 6 months

Passenger flights could be next if electric vertical take-off and landing (eVTOL) aircraft trials moving building materials to New Territories succeed.

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AutoFlight’s vertical take-off and landing (eVTOL) aircraft can hover like a helicopter and transition to flying like an aeroplane. Photo: Handout
International Monetary Fund (IMF)

IMF lauds resilient Hong Kong economy, but warns of risks linked to Mideast war

International body also urges city to pursue medium-term financial reforms, such as introducing goods and services tax, to boost revenue.

Hong Kong courts

Embattled Hong Kong developer sued for HK$130 million, days after founder’s death

Lofter Group founder Carol Chow, who reportedly died by suicide on Tuesday, was already facing bankruptcy petition over unspecified debts.

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