Hong Kong will sign an accord with Shanghai next week to establish a cross-border gold trade clearing system, a move the financial chief says will bolster the city’s push to become an international gold trading hub. Financial Secretary Paul Chan Mo-po revealed on Sunday that the city and the Shanghai Gold Exchange would sign a…
Hong Kong’s capital market is likely to experience significant fluctuations this year owing to intensifying geopolitical risks, the city’s finance chief has warned, stressing the need for caution in financial management. Six weeks before the government unveils its annual budget, Financial Secretary Paul Chan Mo-po pledged to consider whether there is scope to adjust child…
Hong Kong’s heavy investment in public works will keep the capital account in deficit, highlighting the need for bond issuances to fund critical infrastructure and long-term development, the finance chief has said as he revealed the annual budget will be delivered on February 25. Financial Secretary Paul Chan Mo-po also said on Sunday that core…
Hong Kong’s finance chief has confirmed an early operating account surplus driven by strong financial market performance and stock trading stamp duty revenue, as he addressed calls for more elderly welfare measures at the first public forum for the coming budget. Financial Secretary Paul Chan Mo-po vowed on Saturday to make “utmost” efforts to address…
Incoming lawmakers should prioritise helping the Hong Kong government advance policy reforms and strengthen integration with national development, the outgoing Legislative Council president has said as he prepares to step down. Andrew Leung Kwan-yuen also said on Saturday that the new lawmakers would need to assist the government in devising a prudent and pragmatic budget,…
Hong Kong is putting gold at the centre of its push to become a global commodities trading hub, with officials prioritising plans for an international gold trading centre alongside a broader strategy to expand the city’s role in physical trade, derivatives and logistics. The government’s newly formed Commodity Strategy Committee held its first meeting on…
Hong Kong’s newly opened Central Kowloon Bypass, along with a planned major road and rail expansion of over 40 per cent in the next few years, will boost the city’s competitiveness and integration with national development, the finance chief has said. Financial Secretary Paul Chan Mo-po also said on Sunday that the deeper integration of…
Those factors, JLL analysts said, were projected to help trim Hong Kong developers’ swollen inventory, which would drop back to their normal level by the end of next year. “Housing prices have bottomed out, and the outlook for 2026 is cautiously optimistic,” said Joseph Tsang Hon-ping, chairman of JLL in Hong Kong. “We expect capital…
Hong Kong authorities have doubled the living allowance from HK$50,000 (US$6,410) to HK$100,000 for each household at inferno-ravaged Wang Fuk Court in Tai Po, while assuring affected residents that a long-term solution on housing settlement will be found for them. Secretary for Home and Youth Affairs Alice Mak Mei-kuen revealed more support measures on Thursday…
A Beijing official in Hong Kong has voiced confidence in the city’s ability to handle both the coming Legislative Council election and the aftermath of the deadly Tai Po fire, calling local authorities’ decision to proceed with the poll respectful of the constitutional order. Liu Guangyuan, deputy director of Beijing’s liaison office in Hong Kong,…