Continuous 2 to 3 per cent growth in the economy makes Hong Kong the envy of many in the world. It looks even more remarkable considering the city was among the hardest hit by the coronavirus pandemic just a few years ago. Yet there is no shortage of indicators reflecting the challenges facing some local…
Hong Kong Commissioner of Police Raymond Siu Chak-yee has said he expects the city’s law and order to continue to improve and become more stable as he looked back over his 36 years in the force before his term ends next month. Speaking at a passing-out parade at the Hong Kong Police College in Wong…
Hong Kong’s finance chief has vowed to press on with the Northern Metropolis megaproject by issuing bonds to fund the plan, insisting that the policy is a step in the right direction for the city’s long-term development despite a looming budget deficit. Financial Secretary Paul Chan Mo-po also said that the development of the scheme…
Hong Kong’s finance chief has vowed to press on with the Northern Metropolis megaproject by issuing bonds to fund the plan, insisting that the policy is a step in the right direction for the city’s long-term development, despite a looming budget deficit. Financial Secretary Paul Chan Mo-po also said that the development of the scheme…
Hong Kong restaurant diners spent HK$27.6 billion (US$3.5 billion) in the fourth quarter of last year, a small increase in year-on-year sales, with the government attributing the growth to a recovering mainland Chinese economy and improvements in local tourism and market sentiment. Provisional data released by the Census and Statistics Department on Thursday showed the…
Hong Kong’s capital market plays a key role in the city’s financial system and national strategies but it falls short in many areas, according to Qi Bin, the deputy at the central government’s liaison office in the city. “Compared with international best practices, Hong Kong still has shortcomings in market regulation, transaction costs and corporate…
Chief Executive John Lee Ka-chiu has assured that Hong Kong’s business leaders have the freedom to make their own investment decisions, despite a top Beijing official’s call for their active participation in the city’s long-term development. But the city leader also said on Tuesday the business sector could further contribute to making Hong Kong a…
Hong Kong’s finance chief has revealed that another 17 companies will set up offices locally under a government push to develop the innovation and technology sector, as he pointed to “golden opportunities” for firms looking to settle in the city. Financial Secretary Paul Chan Mo-po also said on Sunday that Hong Kong would need to…
Goldman Sachs upgraded its China growth forecast over the weekend, citing recent stimulus measures and new commentary from government officials that showed an openness to spend more aggressively to revive its economy. The bank raised its full-year China GDP forecast to 4.9% from 4.7% and also upped its 2025 growth prediction to 4.7% from 4.3%….
SINGAPORE (Reuters) -China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth. Finance Minister Lan Foan told a news conference there will be more “counter-cyclical measures” this year, but…