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…
Hong Kong companies are much more optimistic about the economic outlook for the coming year, a survey by one of the city’s biggest business chambers has found, although the organisation itself expects growth to slow in 2026. The Hong Kong General Chamber of Commerce released the results of its annual survey on Thursday, showing that…
Hong Kong has signed aviation agreements with seven countries – mostly in Latin America – to expand its global reach and make better use of the airport’s three-runway system, according to a senior official. Secretary for Transport and Logistics Mable Chan on Tuesday revealed that the government had signed deals with the Latin American countries…
The National Games’ unprecedented tripartite hosting arrangement is a calculated strategy, showcasing the Greater Bay Area’s synergy while mitigating the substantial financial and logistical burdens on any single host city, according to experts. “It is more of a political move to showcase the Greater Bay Area integration and the practicality of utilising each city’s resources,”…
The development of fintech and the strong desire of mainland Chinese companies to go global are conducive to Chinese and international banks setting set up operations in Hong Kong, according to the head of the city’s de facto central bank. “While many international and mainland banks already use Hong Kong as a base to develop…
The development of fintech and the strong desire of mainland Chinese companies to go global are conducive to Chinese and international banks setting set up operations in Hong Kong, according to the head of the city’s de facto central bank. “While many international and mainland banks already use Hong Kong as a base to develop…
Hong Kong leader John Lee Ka-chiu has mapped out plans to break the city’s economic bottleneck on several fronts, from the food and pet sectors to the low-altitude and new energy industries and beyond. In his policy address on Wednesday, the chief executive said the latest blueprint served as a road map for the city…
In September 2023, Hong Kong’s Court of Final Appeal ruled that the government must establish a legal framework to recognise same-sex relationships within two years – affirming the rights of same-sex couples to apply for public housing and inherit property. The ruling also explicitly stated that such recognition does not entail the legalisation of same-sex…
A recent surge in Hong Kong’s exports masks a grim reality for frontline manufacturers, with some facing a sharp drop-off in new orders and bracing for renewed pressure on costs as a 90-day tariff truce between Washington and Beijing ends on Tuesday. Bryant Chan Wan-sing, president of toymaker the Wynnewood Corporation, said the sharp increase…
In the wake of Chief Executive John Lee Ka-chiu’s successful visits to Qatar and Kuwait, Hong Kong’s efforts to deepen connections with emerging markets are gaining strong momentum. The signing of 59 memorandums of understanding and agreements has laid the groundwork for advancing the city’s economic and cultural links with the Middle East. The visit…