Hong Kong will achieve new economic breakthroughs despite a “complicated and volatile” external environment, the finance chief has told foreign investors while unveiling the government’s first business report in four years. Financial Secretary Paul Chan Mo-po said on Wednesday that the city was in the midst of transformation and upgrading, but warned that some traditional…
China’s financial authorities have granted Hong Kong residents a new daily remittance quota for the yuan, as a cross-border electronic transactions service prepares to kick off, linking 315 million users between the city and the mainland. Starting from noon on Sunday, the 17 million registered users of Hong Kong’s Faster Payment System (FPS) will be…
China’s financial authorities have granted Hong Kong residents a new daily remittance quota for the yuan, as a cross-border electronic transactions service prepares to kick off, linking 315 million users between the city and the mainland. Starting from noon on Sunday, the 17 million registered users of Hong Kong’s Faster Payment System (FPS) will be…
Sun Hung Kai Properties (SHKP) sold 73 per cent of the units allocated on Sunday to buyers of its Sierra Sea residential project, capitalising on a sharp fall in interest rates and renewed optimism in the city’s stock market outlook. Hong Kong’s largest developer sold 277 of the 376 units on offer in phase 1B…
China’s central bank chief Pan Gongsheng promised to park more of the country’s US$3.2 trillion foreign exchange reserves in Hong Kong, fanning speculation about how much more Beijing can earmark for the city’s assets. Beijing has always guarded the details of its forex portfolio reserves as classified information, so the exact amount of reserve funds…