The US will ban outbound investments in China’s semiconductors, quantum technologies and artificial intelligence from January 2 if they are deemed to threaten American national security, a key move in the Biden administration’s efforts to address concerns about the mainland’s progress in advanced technologies. The US Treasury released final rules on Monday to prohibit engagement…
Hong Kong police have arrested 11 people from a fraud syndicate that allegedly helped more than 800 residents withdraw HK$145 million (US$18.7 million) from their Mandatory Provident Fund (MPF) savings prematurely using fake documents. The force said on Friday that the racket operated in the Tsim Sha Tsui office of a financial consultancy firm as…
Central authorities have issued about 20,000 new multi-entry travel permits to Hong Kong permanent residents with foreign passports heading to mainland China in the past three months, while about 33,000 applicants are still awaiting approval. Secretary for Security Chris Tang Ping-keung cited the figures from the country’s Exit and Entry Administration and also told the…
Hong Kong has slashed the liquor tax on spirits with over 30 per cent alcohol content and an import price above HK$200 (US$26) after Chief Executive John Lee Ka-chiu unveiled the move in his latest policy address. The cut aims to boost the high-end spirits market, with hopes that it will also benefit the tourism…
Hong Kong’s tourism policies for the coming year will prioritise attracting high-spending visitors and promoting themed travel in the city, with authorities pressing on with efforts to diversify the sector as well as integrate sports and culture. Chief Executive John Lee Ka-chiu said on Wednesday that the “Development Blueprint for Hong Kong’s Tourism Industry 2.0”…
Wine traders in Hong Kong have said they expect retail prices of high-end spirits to fall after the government slashed the duty on high-alcohol-content liquor with an import price of over HK$200 (US$26). Chief Executive John Lee Ka-chiu announced in his policy address on Wednesday that the liquor tax would be reduced on spirits with…
Hong Kong authorities are set to give an extra HK$5,000 (US$643) a month in subsidies to elderly residents on social security who live in care homes in mainland China, as part of a wider effort to support the underprivileged and encourage retiring across the border. In his annual policy address on Wednesday, Chief Executive John…
Former top judge Sam Hou-fai was named as Macau’s new leader after an uncontested election on Sunday. The chief executive-elect received 394 votes from the 400-strong Election Committee in an hour-long poll. There were also four blank ballots and two absentees. The figures mean he received 98.5 per cent of ballots from all eligible voters….
Hong Kong’s leader is expected to roll out measures to amplify the city’s status as an international financial, trade and maritime centre in his third policy address on Wednesday, the Post has learned. Chief Executive John Lee Ka-chiu would also announce plans to diversify the economy through innovation and new industries such as life sciences…
Macau’s only chief executive candidate was a little-known figure in the gaming hub before announcing his bid for the job in August, with his past public remarks limited to speeches at the start of each legal year as the city’s top judge. If elected, Sam Hou-fai, the former president of Macau’s Court of Final Appeal,…