The new 10 per cent global tariffs imposed by the United States will only have a “limited impact” on Hong Kong, the city’s treasury chief has said, adding that the move highlights the city’s strength as a safe haven for capital amid geopolitical uncertainty. The remarks followed US President Donald Trump’s announcement on Friday to…
Hong Kong housed nearly 3,400 single-family offices by the end of last year, a 25 per cent rise in two years, as the affluent refocused on the city amid US-centred trade tensions and the rise of China’s tech sector, according to a report by Deloitte on Tuesday. The global auditing firm made the estimates after…
Some 500 guests are expected to attend the Asia-Pacific Economic Cooperation (Apec) finance ministers’ meeting in Hong Kong in October, the first to be held in the city, with authorities set to appoint a team led by two senior officials to oversee planning for the event. Speaking at a Legislative Council meeting on Monday, Secretary…
Hong Kong’s treasury minister has said authorities will shelve a proposed levy on private cars crossing the border into mainland China, citing feedback from lawmakers and members of the public. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu told the Legislative Council on Friday that the government had decided not to go ahead…
Hong Kong has struck a deal with the Shanghai Gold Exchange (SGE) to deepen cross-border connectivity in bullion trading, as the city steps up efforts to build a broader gold ecosystem spanning trading, clearing and storage. The agreement comes as gold prices hit a record high of US$5,110 per ounce on Tuesday morning, buoyed by…
The number of foreign and mainland Chinese companies and start-ups in Hong Kong surged by 11 per cent year on year to record highs, the city’s leader has said. At the 19th Asian Financial Forum on Monday, Chief Executive John Lee Ka-chiu highlighted Hong Kong’s “unprecedented achievements” as he announced a cooperation agreement to establish…
Hong Kong’s government is expected to announce next month the results of its investigation into a bottled water scandal that rocked the city and disciplinary action against those officials involved after confirming that the probe has been completed. The Financial Services and the Treasury Bureau, which set up a task force to probe the scandal…
Hong Kong has signed a comprehensive avoidance of double taxation agreement (CDTA) with Norway, marking its fourth such pact this year as the city steps up efforts to strengthen its appeal as an international business and investment hub. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu signed the agreement with the Government of…
Manulife (International), one of the biggest life insurers and pension providers in Hong Kong and Macau, has finished moving its domicile to Hong Kong from Bermuda, making it the first insurer to successfully complete the process under a new regime, according to a statement on Friday. The insurer said the redomiciling was a “strategic milestone”…
When Alvin Kwock, co-founder of digital insurer OneDegree, took part in the inaugural Hong Kong FinTech Week in November 2016, it was held at a venue suitable for only a few hundred people. “As it was the first ever fintech event in Hong Kong, only fintech start-ups were interested, no big financial institutions paid attention,”…