In the summer of 1998, the usually placid air at the Hong Kong Monetary Authority’s headquarters in Citibank Tower suddenly evaporated as regional currencies collapsed like dominoes. Rapacious speculators had shorted currencies such as the Thai baht, the Indonesian rupiah and the Korean won and had profited handsomely. The contagion looked like it would also…
Hong Kong will step up efforts to bolster its global standing and strengthen links between mainland China and the West, enabling the city to better serve as a ‘superconnector’ and ‘super value adder’ for the nation amid growing geopolitical complexities, the financial chief has said. Financial Secretary Paul Chan Mo-po wrote in his weekly blog…
Hong Kong is ready to discuss land, tax incentives and financial support for businesses setting up in the Northern Metropolis, the finance chief has told a trade seminar in Beijing, stressing a “flexible and innovative” approach will be taken with developing the megaproject. Financial Secretary Paul Chan Mo-po on Thursday also met Xia Baolong, Beijing’s…
Hong Kong’s finance chief has likened the powerful AI agent OpenClaw to an efficient “digital employee”, saying it should not be dismissed but rather improved to address security risk concerns. Financial Secretary Paul Chan Mo-po’s remarks on Monday followed the Digital Policy Office’s recent advisory urging government departments to avoid installing OpenClaw or its variants…
The conflict in the Middle East could divert new capital to Hong Kong due to the city’s stability and regulatory certainty, the treasury minister has said, while pledging to keep markets operating smoothly amid energy price shocks caused by the war in Iran. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said on…
Hong Kong could emerge as the world’s leading financial centre as the central government pushes to internationalise the yuan – a move that will advance the nation’s development under the 15th five-year plan while also driving the city’s own growth, a National People’s Congress (NPC) deputy has said. Li Yinquan said the city stood to…
Hong Kong is not just China’s economic sandbox but also a driver of the country’s development, the finance chief has said, calling the city the nation’s international financial centre. Financial Secretary Paul Chan Mo-po said on Monday that Hong Kong must move swiftly to embrace artificial intelligence (AI) and “get empowered” in its use, as…
Hong Kong and Singapore have crossed swords over their ambitions to be the world’s gold trading hub, but experts say the city holds an advantage over its Southeast Asian rival, citing its access to mainland China’s robust market. As Hong Kong pushed ahead with measures to create an ecosystem for gold trading – highlighted as…
Hong Kong’s financial chief has vowed to serve the nation and seize opportunities from the newly unveiled 15th five-year development plan, calling it a “golden strategic period” with great potential amid escalating geopolitics. Financial Secretary Paul Chan Mo-po said on Sunday that Hong Kong would adopt “Artificial Intelligence+” and “Finance+” approaches to support China’s development…
Hong Kong will roll out targeted measures to attract precious metals companies as part of broader efforts to establish itself as a premier global gold trading hub, according to the city’s agency tasked with attracting foreign direct investment. InvestHK will assist companies setting up headquarters in Hong Kong with site selection and applications for overseas…