Hong Kong’s improving fiscal position has prompted a groundswell of calls for the government to offer more “sweeteners” in the coming budget, including a cross-party demand for more tax relief for the middle class, but economists have cautioned against such across-the-board measures. They were more supportive of targeted spending, a cause taken up in recent…
Hong Kong must stay vigilant in times of peace and drive innovation in economic development, according to a prophecy drawn by the city’s top rural leader during an annual Lunar New Year ritual. Kenneth Lau Ip-keung, chairman of powerful rural body the Heung Yee Kuk, drew a “neutral” stick for Hong Kong at Che Kung…
Hong Kong authorities are looking beyond a shelved reclamation project near Lantau Island and are considering options for a fourth cross-harbour tunnel, with lawmakers describing such a facility as essential to ease persistent congestion and aid the city’s further development. In a 124-page transport strategy blueprint released last week, the Transport Department said it expected…
Hong Kong’s spending should not grow faster than its income, even though the city’s finances are improving, the financial secretary has said, added that the market expects the government to invest more to boost the economy. But Paul Chan Mo-po on Sunday also painted a rosy picture for the city’s retail sector, revealing that sales…
Hong Kong’s top decision-making body has held 25 per cent fewer meetings in the first 3½ years of the current administration compared with the previous two governments, the South China Morning Post has found, with the group’s secretariat urging the public to focus on “outcomes of the work” rather than on the number of gatherings….
Hong Kong must maintain cash reserves to cope with geopolitical shocks and support long-term growth, even with a surplus expected in the government’s operating account this year, the financial secretary has said. Paul Chan Mo-po also said on Saturday that the city’s economy outperformed forecasts last year, lifted by strong exports to Southeast Asia and…
Hong Kong’s rail giant has sold its first-ever Australian dollar-denominated green bonds for a record A$2 billion (US$1.4 billion) to fund environmentally friendly projects, marking the country’s largest order book. The bonds, issued in two equal tranches, were oversubscribed more than sixfold by a variety of investors, the MTR Corporation said on Tuesday. The offering…
Hong Kong’s leader has vowed to expedite the growth of innovation and technology (I&T) across the product development cycle by streamlining the path from lab to market, including using a “dual-engine” strategy that partners with the finance industry. Chief Executive John Lee Ka-chiu made the pledge at a ceremony on Thursday that marked the 10th…
Hong Kong has allocated land within its Northern Metropolis to build venues for elite fencing, other sports and recreation, with observers saying the initiative must balance top-level athlete training with convenient access for residents. In a written reply to lawmaker Kenneth Fok Kai-kong on Wednesday, Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui confirmed…
Hong Kong should expand its annual marathon into a two-day race and add more diverse routes to attract more participants and boost the city’s mega-event economy, two lawmakers have said. They also said on Monday that organisers of the Standard Chartered Hong Kong Marathon could design routes through less urbanised areas, such as Kai Tak…