Hong Kong customs has smashed an international drug trafficking network over the summer, seizing 6.1 tonnes of suspected narcotics worth more than HK$1.4 billion (US$178.5 million) and arresting 150 people as syndicates actively recruited students during the holiday period. Acting head of the Customs and Excise Department’s drug investigation bureau Wong Ngar-lun said on Tuesday…
Hong Kong customs has arrested six people over the alleged smuggling and online sale of counterfeit Fifa World Cup merchandise, with an estimated market value of HK$156 million (US$20 million). The Customs and Excise Department said on Thursday it had uncovered 29 suspected smuggling cases and five online sales cases involving World Cup products in…
Hong Kong authorities uncovered 23 cross-boundary and transshipment counterfeiting cases in a joint operation with mainland China and Macau in April, seizing about 46,000 items worth an estimated HK$16 million (US$2 million). The Customs and Excise Department said on Friday that the operation found that 21 cases involved local express couriers and logistics companies. The…
Hong Kong customs has seized about 10,000 suspected counterfeit football jerseys and other unlicensed goods worth an estimated HK$64 million (US$8 million) ahead of the World Cup finals in June. During the 19-day operation code-named “Dawnbreaker”, conducted by the Customs and Excise Department, three people aged 25 to 56 were also arrested on suspicion of…
Chinese toymaker Pop Mart reported strong annual growth in revenue and net profit for 2025, but not enough to alleviate investor fears that the company remains too reliant on the Labubu phenomenon. Annual revenue jumped 184.7 per cent from a year earlier to 37.12 billion yuan (US$5.4 billion), while net profit surged 284.5 per cent…
Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good…
About 130 family office decision-makers and affluent second-generation members from across the world attended a dinner held by the Hong Kong government on Monday evening, including billionaire Pop Mart founder, chairman and CEO Wang Ning. The dinner set the stage for the fourth edition of the Wealth for Good in Hong Kong (WGHK) Summit, themed…
China will be patient and play the long game as it views the new geopolitical chessboard, recalibrating carefully in the wake of US President Donald Trump’s move on Saturday to decapitate Venezuela’s leadership, analysts said. In a daring predawn raid, US forces descended on ousted Venezuelan president Nicolas Maduro and airlifted him shackled and blindfolded…
Hong Kong customs has intercepted more than 83,000 counterfeit items worth about HK$36 million (US$4.62 million) as part of a recent crackdown, warning that criminals are using the heightened seasonal demand as a “smokescreen” to move illicit goods to Europe and the Americas. The Customs and Excise Department said on Wednesday that the operation ran…
Bitcoin is crashing into dangerous territory — and options-fueled selling is adding to the volatility. The largest cryptocurrency dropped as much as 7.6% on Friday to $80,553, deepening a selloff that’s erased nearly 25% of its value this month. November is now shaping up to be Bitcoin’s worst month since the 2022 collapse of Terra…