Hong Kong will expand the use of the yuan in areas including gold trading and cross-border payments, as policy blueprints call for the city’s biggest push yet to internationalise the Chinese currency. Chief Executive John Lee Ka-chiu on Wednesday devoted part of the city’s first five-year plan and his annual policy address to developing a…
Anyone in Hong Kong found carrying more than five vape pods or 100 heat sticks in public will face a maximum fine of HK$50,000 and up to six months in jail from April 30, while those with smaller quantities will receive a fixed penalty of HK$3,000. The amended tobacco control law also provides for a…
A housewife in Hong Kong has lost nearly HK$2.5 million (US$320,500) in an online shopping scam after she tried to buy collagen drinks for HK$530, according to police. The victim saw a Facebook post advertising collagen drinks and transferred HK$530 via Faster Payment System, police said on their CyberDefender Facebook page. The seller later claimed…
More than 47,000 taxi drivers have adopted the commercial version of the Octopus app or equipped their cabs with mobile card readers ahead of new electronic payment regulations taking effect in Hong Kong on Wednesday, transport authorities have said. The new measures require cab drivers to provide at least two e-payment options, as part of…
Hong Kong cabbies are counting down to the end of the “keep the change” tradition as the industry prepares for a mandatory shift from cash-only payments to electronic settlements. In the weeks leading up to April 1, taxi drivers are racing to install e-payment tools, while service providers say 90 per cent of the cabbies…
More than 40,000 Hong Kong taxi drivers have registered to accept Octopus payments, ahead of an electronic payment mandate that will take effect next month, with a sector representative urging authorities to exercise discretion during the initial phase of the roll-out. On April 1, all cabbies will be required to offer at least two electronic…
HSBC, Hong Kong’s largest bank with a 6.2 million-strong customer base, suffered a widespread system breakdown on Friday afternoon. According to some customers, the bank’s mobile app and online services were inactive as early as 1pm, with login attempts diverted to a screen stating the system was under maintenance and would be accessible at a…
Under the five-year plan called Fintech 2030 that starts this year, the HKMA would expand the scope of the city’s generative AI sandbox to include more industries as a step towards enhancing risk management, fraud detection and customer experience, chief executive Eddie Yue Wai-man told the Post in a written interview. “The diversity of perspectives…