Capital from the Gulf region is showing signs of flowing into Asia, according to Hong Kong’s finance chief, as bilateral trade between the Middle East and the city rose 35 per cent in the first five months of the year. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said Hong Kong and…
A Saudi Arabian tech giant has made Hong Kong its first stop on its maiden visit to Asia, expressing strong interest in partnering with local authorities to co-develop a smart city and establish a strategic gateway to the broader regional market. The remarks on Wednesday followed the opening of LEAP East 2026, the inaugural Hong…
Hong Kong’s finance chief will lead another business delegation to Saudi Arabia later this year, announcing the news as the city hosted the first overseas edition of one of the kingdom’s top technology conferences as part of efforts to boost ties with the Middle East. Speaking at the opening ceremony of LEAP East 2026 on…
Hong Kong will substantially increase its yuan facilities for banks from this Friday, while the city will also introduce a new electronic fixed income and currency (FIC) trading system as part of its latest efforts to promote yuan trading, according to local market regulators on Tuesday. Hong Kong Monetary Authority (HKMA) would increase the quota…
Hong Kong can be “more than New York and Silicon Valley combined” by positioning itself as a hub that integrates global financial depth with technological innovation and manufacturing capacity, the city’s finance chief has said. Financial Secretary Paul Chan Mo-po said on Friday that Hong Kong had a unique edge over New York and Silicon…
Hong Kong will soon open its first convenience store operated by a humanoid robot as part of the city’s push to integrate AI into everyday life and deepen residents’ understanding of the technology, the finance chief has said. Financial Secretary Paul Chan Mo-po also revealed on Sunday that a high-level government committee dedicated to AI…
Dignitaries, relatives and members of the public gathered on Saturday to pay their final respects to the late Reverend Derek Li Shing-lam, whose son Mo Li Kai-yin – the Hong Kong dancer left paralysed after an accident at a 2022 concert – delivered a heartfelt video tribute thanking his father for his “unconditional love”. For…
Hong Kong Legislative Council president Starry Lee Wai-king has urged officials to respect lawmakers’ dissenting views amid a recent rise in government pushback, stressing that public policies “always have pros and cons”. Speaking at a media gathering on Tuesday, Lee said she had relayed lawmakers’ concerns to the government regarding officials’ recent rebuttals. She described…
Hong Kong’s finance chief has said the Middle East war has played only a limited role in driving up local inflation, noting the city’s service-based economy and stable energy supplies from mainland China have mitigated the effects of external shocks. Briefing the Legislative Council on Monday, Financial Secretary Paul Chan Mo-po said the surge in…
The government’s investment arm achieved a double-digit internal rate of return last year, greater than many newly established venture capital funds, according to its CEO. “Many overseas funds have a J-curve performance, as they tend to suffer an initial loss before a gain,” said Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC). “But…