Hong Kong employers are facing significantly higher costs for their employees’ medical insurance, with premiums having increased by 55 per cent over the past three years due to a greater demand for healthcare services, including those related to post-Covid illnesses. The findings were announced on Friday by the College of Professional and Continuing Education (CPCE)…
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. China defies ASML prediction with EUV breakthrough in advanced chip…
The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) enjoyed a 13 per cent increase in their pension assets in 2024 thanks to the best investment returns in four years. The MPF earned a combined HK$102.4 billion (US$13 billion) last year, equivalent to HK$21,500 for each member, according to data from MPF Ratings,…
Hong Kong’s treasury chief has pledged to prioritise addressing user complaints aimed at the newly launched electronic pension platform after some employers and staff faced delays when updating contribution records or struggled to withdraw their funds. Secretary for Financial Services and the Treasury Bureau Christopher Hui Ching-yu said on Wednesday that any situation that affected…
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…