The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, the finance minister has said as the city prepares for a regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the market…
Wealthy people are increasingly drawn to structured products and diversified investments in light of market uncertainty, according to Standard Chartered Bank’s Eliza Law, who sees affluent clients putting more money to work in Hong Kong. “Our clients’ interest in investing has grown,” Law, managing director and head of affluent segment and distribution, wealth and retail…
Hong Kong’s housing authorities have suspended a 8,300 public flat development in a northern town due to the suspected high costs of building on deep rock strata, a move lawmakers said showed serious failure at the initial planning stage. The legislators urged authorities on Sunday to invest more resources in land exploration to avoid such…
Hong Kong and Singaporean police have teamed up to smash a cross-border syndicate suspected of spending about HK$18 million (US$2.3 million) to buy prepaid SIM cards for running phone scams. In Hong Kong, a police raid on seven offices led to the arrest of four local men, aged 23 to 48, with officers also seizing…
Hong Kong police have begun issuing electronic fines for parking and traffic offences, with some drivers calling for increased publicity over the measure and a longer transition period. The digital system began operation on Sunday, allowing penalty tickets to be delivered via SMS or email. Drivers can review the fines on a new website and…
Hong Kong police have arrested a 16-year-old girl and an 18-year-old man on suspicion of swindling an 85-year-old woman out of HK$50,000 (US$6,369) by pretending to be her daughter and claiming to require bail money. The force said on Sunday the victim reported the incident on Friday. After receiving a call from someone who said…
A 25-year-old Hong Kong man was scammed out of HK$4,900 (US$624) when trying to buy two tickets for Blackpink’s pair of concerts in the city next year, as police received 200 reports related to online shopping scams in the past week. The victims in those cases were cheated out of HK$5.5 million in total, according…
Nine individuals with suspected triad backgrounds have been arrested by Hong Kong police following a violent brawl over a debt that left a 68-year-old participant dead. The group comprising five men and four women aged between 27 and 44 were arrested on suspicion of manslaughter and affray. They were still being detained for questioning on…
Nine individuals with suspected triad backgrounds have been arrested by Hong Kong police following a violent brawl over a debt that left a 68-year-old participant dead. The group comprising five men and four women aged between 27 and 44 were arrested on suspicion of manslaughter and affray. They were still being detained for questioning on…
Jun 15, 2025 University neighborhoods in Hong Kong, such as Hung Hom and Tseung Kwan O, are experiencing sharp rent hikes, impacting students and professionals alike. According to a report by the South China Morning Post, these areas are seeing increased demand from mainland students and professionals, leading to significant rental market pressures. Wang Ruoshuo,…