An annual e-commerce shopping festival supporting Hong Kong’s small and medium-sized enterprises will expand into the Asean region for the first time via Singapore and Malaysia, with plans to include other countries in future. The Trade Development Council, the organiser, said on Tuesday that the third edition of the annual Hong Kong Shopping Festival, launching…
The long-awaited earthquake in Hong Kong’s taxi and ride-hailing scene is almost upon us and the questions are how big the initial shock will be, and how many aftershocks we can expect. The important thing in the coming months will be to keep the focus on protecting the interests of the travelling public. More than…
Official support and collaboration with private capital are critical for sovereign wealth funds to succeed, the head of Hong Kong’s government-owned investment vehicle has said, as she spelled out strategies needed to deliver high returns. At the inaugural Nusa Dua Forum organised by the South China Morning Post and Indonesia’s sovereign wealth fund Danantara in…
The Hong Kong Investment Corporation (HKIC) recorded a major jump in investment income during its second year of operation, as it expanded its role as the city’s “patient capital” engine driving local economic development. The wholly state-owned investment firm generated about HK$6.46 billion (US$824 million) in investment income in 2025, a stunning 175 per cent…
Brokers expect HSBC Holdings, a staple in the portfolios of Hongkongers, to see a large increase in interest from both local and international investors, as the stock’s minimum trading unit is set to change as part of the stock exchange’s board-lot reform process. Investors have long sought the change for the stock – known as…
Two mainland Chinese ride-hailing operators in Hong Kong have backed a controversial plan to regulate the industry by capping vehicle permits at 10,000, a figure the city’s largest American business chamber considers insufficient. In submissions to the Legislative Council on Monday and in recent days, Amap and Didi Chuxing said they supported the Transport and…
Hong Kong transport authorities will “actively explore” the secure storage of ride-hailing data ahead of new regulations for the industry due to take effect in August, as part of efforts to ensure compliance with national security requirements. Secretary for Transport and Logistics Mable Chan on Monday stopped short of revealing whether data about users collected…
A vast majority of passengers consider the government’s plan to cap ride-hailing vehicle permits at 10,000 “very insufficient”, according to a survey by Uber, as the company attempts to challenge elements of the proposed regulatory regime. US-based Uber said on Thursday that the survey, conducted last month over six days, drew 10,009 passenger respondents, 90…
Hong Kong authorities have set a cap of 10,000 vehicles for ride-hailing service permits, marking a key step in their long-running effort to establish a regulatory framework, with applicants who have owned a private car for a certain period likely to be given priority. In a paper submitted to the Legislative Council on Tuesday, the…
The number of ride-hailing vehicle licences will be determined based on Hong Kong’s unique conditions and the need to maintain passenger experience, the city’s leader has said, adding that the proposed subsidiary legislation will be submitted for approval on schedule. Chief Executive John Lee Ka-chiu also said on Tuesday that a mechanism would be established…