The government’s investment arm achieved a double-digit internal rate of return last year, greater than many newly established venture capital funds, according to its CEO. “Many overseas funds have a J-curve performance, as they tend to suffer an initial loss before a gain,” said Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC). “But…
On April 16, Chief Secretary Eric Chan Kwok-ki, Financial Secretary Paul Chan Mo-po and Constitutional and Mainland Affairs Secretary Janice Tse Siu-wa traveled to Beijing to meet with the State Council’s Hong Kong and Macao Affairs Office. The subject was Hong Kong’s first five-year plan. For decades, Hong Kong thrived on nimbleness, market instincts and…
A combination of sky-high rents, career anxiety and social isolation is placing a mental and financial strain on mainland Chinese students living in Hong Kong, even as more than 40 per cent of them plan to remain in the city, a survey has revealed. The study released by the Youth Expats Association on Sunday also…
Hong Kong is actively considering launching a new offshore renminbi venture fund to channel capital into cutting-edge technology and emerging industries, while supporting yuan internationalisation, the city’s finance chief has said. The initiative aligns with the nation’s 15th five-year plan, which guides development from 2026 to 2030 and calls on Hong Kong to enhance its…
Hong Kong leader John Lee Ka-chiu met lawmakers on Friday to discuss a “highly targeted, substance-heavy” report they compiled outlining proposals on how the city’s first five-year plan should proactively align with national development. The closed-door meeting took place ahead of the government’s planned launch of a public consultation on Hong Kong’s five-year plan in…
Hong Kong authorities have evicted more residents from a village in the New Territories to make way for the Northern Metropolis megaproject, with one family complaining they only received the notice to move out last month. Dozens of police officers, Lands Department staff members, security guards and workers from the contractors gathered at Yik Yuen…
Veteran industrialist Sunny Chai Ngai-chiu has been appointed as chairman of a government-owned company set to be tasked with developing Hong Kong’s San Tin Technopole – a key pillar of the Northern Metropolis megaproject. Authorities said on Wednesday that the San Tin Technopole Company would be established in the first half of 2026 and that…
Hong Kong lawmakers have called for greater clarity on a proposed HK$10 billion project featuring a fencing arena in the Northern Metropolis, questioning its “immense cost” and whether it is meant to host international tournaments. Permanent Secretary for Development Doris Ho Pui-ling on Wednesday defended the massive price tag, saying the government had sought to…
The Reverend Canon Peter Douglas Koon Ho-ming was blunt when he said, “Once there are no political issues, everything in Hong Kong is a livelihood issue.” He was also correct. Housing is this city’s biggest livelihood issue. It is also the hardest to tackle by far. The current administration has probably done more in this…
Slowly but surely, Hong Kong is undergoing various scales of transformation. From the mixed-use development around Kai Tak to the revamped waterfronts on both sides of Victoria Harbour, the new railway extensions to the vehicular bypass tunnels below our busy streets, the adaptive reuse of underutilised spaces and the infusion of art and culture into…