Hong Kong’s Stablecoins Ordinance marks a significant milestone, as cross-border payments using the cryptocurrency can facilitate trade-finance flows between Hong Kong, mainland China and global markets such as the Middle East, according to the CEO of Zand, an AI-powered fintech and financial-services group in the United Arab Emirates (UAE). Future development under the ordinance could…
Mainland Chinese buyers and “smart money” from Southeast Asia will continue “bottom-fishing for trophy assets” in Hong Kong’s luxury property market as prices remain depressed through 2025, according to the director and head of residential sales at Savills. Capital from Singapore had been flowing to Hong Kong because the Singaporean market had not declined, Thomas…
Hong Kong police have arrested two visitors from mainland China and three residents on suspicion of being part of a syndicate that recruits drivers to provide illegal ride-hailing services in the city by using tourist visas and fake identity cards. The force said on Saturday that it arrested three residents in the past two days…
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Chinese mega dam stops using Western industrial chips over security…
The more educated a person, the more vulnerable they may be to scams, according to a study conducted in Hong Kong, mainland China and Taiwan, with victims from the city suffering the largest losses. City University on Friday revealed the results of the recent poll, which showed that those in Hong Kong who had postgraduate…
The number of visitors to Hong Kong rose by 12 per cent year on year in July, with long-haul arrivals from countries such as Britain, the United States and France showing the biggest increase of 21 per cent, according to official data. The Hong Kong Tourism Board said on Friday that the city welcomed 4.39…
CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to…
CK Asset Holdings, one of the flagship companies owned by billionaire Li Ka-shing’s family, reported weaker-than-expected first-half profit amid a challenging housing market in Hong Kong and declining rental income from its commercial properties. Profit attributable to shareholders fell 26.2 per cent to HK$6.3 billion (US$806.4 million) in the six months to June, according to…
Hong Kong police have foiled a “guess who I am” phone scam, arresting two mainland Chinese men hired by a fraud syndicate and preventing an elderly woman from losing HK$100,000 (US$12,740). Chief Inspector Ma Suet-yiu of the force’s Western district on Wednesday said the arrests were made after the 78-year-old woman received a phone call…
E-payment service provider AlipayHK will continue to waive fees for Hong Kong taxi drivers to encourage them to use its system, with the company saying the penetration rate has remained low due to cabbies’ persistent reluctance. Simon Leung, alternate chief executive of AlipayHK, said that the company had implemented several measures to boost adoption. These…