Hongkongers and mainland residents jumped at the chance to send money across the border via a new electronic payment service on its first day of operation on Sunday. The so-called Payment Connect was operating smoothly, with 6,900 Northbound and 19,000 Southbound transactions as of 6pm, according to a spokesperson for the Hong Kong Monetary Authority…
Hong Kong should maintain its international connectivity and attract talent to speed up its economic transformation, analysts and figures from the commerce sector have said, as they hailed the enactment of the national security law for improving the business environment. Some political analysts also called on government officials to take bolder steps and adopt new…
Beijing’s top official overseeing Hong Kong affairs held a three-hour closed-door discussion with local tycoons and business leaders on the third day of his inspection trip to the city on Friday. Xia Baolong, director of the Hong Kong and Macau Affairs Office, also visited Ocean Park in the afternoon before taking a boat trip to…
Beijing’s top official overseeing Hong Kong affairs held a three-hour closed-door discussion with local tycoons and business leaders on the third day of his inspection trip to the city on Friday. Xia Baolong, director of the Hong Kong and Macau Affairs Office, also visited Ocean Park in the afternoon before taking a boat trip to…
The third and final part of the decoupling series looks at how Hong Kong’s financial system is crucial for China to advance the internationalisation of the yuan amid geopolitical tensions and discussions on de-dollarisation. Read part one and part two. Anyone seeking evidence that international businesses are actively looking to diversify from the US dollar…
Hong Kong leader John Lee Ka-chiu has said the city will proceed with filing a complaint about the US’ punitive tariffs to the World Trade Organization (WTO) despite the truce between Washington and Beijing. The city’s business sector is also gearing up to take advantage of the 90-day tariff suspension window to front-load their shipments…
The impact of US port fees on Chinese ships docking in the country may be mitigated by using a Peruvian port for the Latin American market, Hong Kong industry leaders have said, warning that the levy will only cause damage. The remarks made on Saturday were in response to the new port fees announced by…
Hong Kong must “gear up to fight a long battle” in the escalating trade war with the US by diversifying risks and accelerating brand upgrades, the city leader has said, citing views from local delegates to China’s top legislature and political advisory body. Chief Executive John Lee Ka-chiu hosted a closed-door seminar on Thursday at…
Hong Kong must “gear up to fight a long battle” in the escalating trade war with the US by diversifying risks and accelerating brand upgrades, the city leader has said, citing views from local delegates to China’s top legislature and political advisory body. Chief Executive John Lee Ka-chiu hosted a closed-door seminar on Thursday at…
Washington’s decision to impose reciprocal tariffs on Chinese goods could force Hong Kong manufacturers to cut jobs or even close down, as many businesses are set to struggle to navigate global trade frictions, analysts have warned. Experts also said the sweeping tariffs would create a vicious cycle where consumption in the US would greatly diminish…