Hong Kong’s inaugural five-year plan should prioritise the Northern Metropolis mega development, strengthen the city’s position as an international financial centre and advance its artificial intelligence (AI) strategy, major business chambers have said. In submissions for the city’s first five-year plan, groups including the American Chamber of Commerce in Hong Kong (AmCham) and the Federation…
Hong Kong authorities are under pressure to review the warning system for heat stress at work after it remained at the lowest risk level on Sunday, despite the city sweltering through its hottest day on record. Labour unionists, joined by a leading meteorologist, also proposed relaxing the law to recognise heatstroke as a work-related injury,…
AI’s rapid takeover of entry-level tasks is disrupting Hong Kong’s career ladder, leaving fresh graduates with fewer opportunities to gain practical experience, according to experts. Lam Wai-kong, an employee representative on the Labour Advisory Board, said a growing emphasis on immediate productivity, coupled with a reluctance to invest in graduate training, had also led some…
Hong Kong has the “most complete renminbi financial ecosystem” and is well placed to serve as a hub for Central Asian countries seeking to expand the currency’s use in trade and investment, according to a veteran banker. Stephen Chan Man, deputy chief executive of Bank of China (Hong Kong), also said on Thursday that the…
Uzbek Prime Minister Abdulla Aripov will visit Hong Kong two days after a 200-strong delegation from the Central Asian country arrived in the city via a charter flight on Monday to explore collaboration opportunities. It was understood that a high-level Hong Kong delegation will also visit Uzbekistan and Kazakhstan soon. Commissioner for Belt and Road…
Hong Kong bus company boss Martin Lau feels overwhelmed as he attempts every option possible to minimise mounting losses wrought by runaway fuel prices. He has done everything he can think of, from trying to reduce services to doing his own repairs on his fleet of more than 20 coaches. Lau, managing director of ABC…
Proposals by Hong Kong’s pension regulator to increase Mandatory Provident Fund (MPF) contributions for higher-paid workers by up to 33 per cent could worsen business challenges and hurt the jobs market, a lawmaker and human resources expert have warned. A labour representative, however, urged the Mandatory Provident Fund Schemes Authority (MPFA) to pursue even bolder…