Hong Kong Chief Executive John Lee Ka-chiu has placed deepening integration with mainland China and developing new economic engines centre stage as he unveiled the city’s first-ever five-year plan alongside the last policy address of his term. During his landmark speech on Wednesday, which ran just one minute shy of three hours, Lee laid out…
By the end of the year the Hong Kong Monetary Authority (HKMA) is planning to make a wholesale CBDC available for interbank settlement of tokenized deposits as part of Project EnsembleTX, enabling 24/7 payments. This was one of several plans announced by the Chief Executive of Hong Kong in his 2026 policy address yesterday. While…
Hong Kong’s plan to raise its gold holdings will further cement the city’s status as an international financial centre, with the possibility of building vaults in the Northern Metropolis megadevelopment, according to authorities. Financial Secretary Paul Chan Mo-po also said on Thursday the city was under “no pressure” to raise interest rates following a US…
Longer-term vision and policies with continuity mapped out in Hong Kong’s inaugural five-year plan, along with the latest policy blueprint, offer investment opportunities and more stability for investors, according to experts and commentators. Hong Kong marked a historic milestone on Wednesday when Chief Executive John Lee Ka-chiu unrolled the city’s first five-year development plan with…
Hong Kong will expand the use of the yuan in areas including gold trading and cross-border payments, as policy blueprints call for the city’s biggest push yet to internationalise the Chinese currency. Chief Executive John Lee Ka-chiu on Wednesday devoted part of the city’s first five-year plan and his annual policy address to developing a…
Apple should ultimately bear responsibility for more than 700 unauthorised credit card transactions in Hong Kong, a lawmaker has said, while estimating that the actual loss would not be significant. Speaking on a radio programme on Monday, Election Committee sector legislator Johnny Ng Kit-chong described the incident as “rare”, given the large number of victims…
Scores of Hongkongers have complained about unauthorised transactions on credit cards used to pre-order Apple’s latest iPhones, prompting major banks to launch investigations. One internet user on the social media platform Threads said she received a message on Saturday night saying she had unauthorised transactions of HK$33,598 (US$4,280) from Apple on her HSBC credit card….
Hong Kong’s home prices will end the year 15 per cent higher than a year earlier, but still 16 per cent below their high-water mark in 2021, according to local property agency Midland Realty. Underpinning the positive forecast, the city’s banks were not likely to follow an increase in US interest rates by the Federal…
(From left) Head of Carbon and ESG Products, Sustainability of HKEX Ken Chiu; HKMA Chief Executive Eddie Yue Wai-man; Chief Executive of the Dubai Financial Services Authority (DFSA) Mark Steward; and Executive Vice-President and Head of Product Development of Nasdaq Dubai Eric Salomons, presenting the signed Terms of Reference of the Strategic Working Group during…
“History doesn’t repeat itself but it often rhymes.” This famous quote, widely attributed to Mark Twain, keeps playing in my mind as China mourns the death of former premier Zhu Rongji and reflects on his legacy. It was early afternoon on August 12 when I received a message from a friend on the mainland that…