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Hong Kong economy

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Hong Kong economy
Breaking news and analysis on Hong Kong's economy and the companies that operate in the city, including its GDP, economic outlook, impact of the coronavirus outbreak, macroeconomic indicators, the local government finance and budget, retail sales, consumption, employment and monetary policy.
More than 1,100 students from 38 kindergartens, primary, secondary and special schools join hands to create a horticultural display as part of the Hong Kong Flower Show at Victoria Park, on March 7. Photo: Eugene Lee
Education in Hong Kong

Opinion | Hong Kong’s education policy must reflect the innovative future it seeks

The city aims to be a leader in the creative and innovation industry, but how much of that vision is translated into its schools?

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Hong Kong property

‘Upstairs’ moves downstairs: Hong Kong shops head to street level as rents fall

Hong Kong stock exchange

Finance chief urges Hong Kong to enhance global standing amid shifting geopolitics

Formula One (F1)

Opinion | F1 could be Hong Kong’s fast lane for economic reinvention

Hong Kong can leverage F1 as a catalyst for branding, industry upgrading and global influence.

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Ferrari’s British driver Lewis Hamilton waves to the fans after the Formula One Chinese Grand Prix at the Shanghai International Circuit in Shanghai on March 15. Photo: AFP
Hong Kong society

Plan for full taxi access to Discovery Bay sparks anger among residents

More than 1,100 people sign petition calling for greater public consultation.

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Drones

Flying start for low-altitude economy goals as 100 drone projects proposed

Some pilot projects are set to launch in the first half of the year, transport chief Mable Chan says.

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US, Israel war on Iran

Hong Kong to issue weekly updates on fuel charges to counter price gouging

Environment minister says information will allow public to monitor oil price changes more accurately.

Vehicles get filled up at a petrol station in Sha Tin. Hong Kong’s fuel is mainly supplied by mainland China, according to the environment minister. Photo: Sam Tsang
Cryptocurrency

Has Hong Kong laid the groundwork to become a world-leading crypto hub?

With its regulatory clarity and superconnector edge, the city is drawing global crypto firms as it emerges as a premier Web3 hub.

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Hong Kong

Hong Kong’s ‘ghost oil’ stations rake in ‘HK$10,000 a day’ as petrol prices soar

Operators are smuggling untaxed petrol into Hong Kong and selling it to car owners via coded WhatsApp messages.

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Hong Kong

Editorial | Global Talent Summit Week affirms Hong Kong’s push for diversity, innovation

The event helps showcase the progress made on attracting talented professionals to the city as it evolves beyond its financial centre role.

Visitors attend the CareerConnect Expo, part of the Global Talent Summit Week, at the Hong Kong Convention and Exhibition Centre in Wan Chai on March 18. Photo: Karma Lo
Hong Kong

Hong Kong should use ‘safe haven’ status to draw capital from Gulf: agency chief

InvestHK director general says more firms using Dubai as a hub have shifted to the city to diversify risk because of conflict.

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Businesses that traditionally used Dubai as a hub are moving, InvestHK’s chief says. Photo: Reuters
Hutchison’s Panama ports deal

Panama⁠ accuses CK Hutchison subsidiary of lying about arbitration response

President Jose Raul Mulino slams Panama Ports Company for accusing country of failing to file response to arbitration request.

Hong Kong

Letters | Hong Kong has a chance to lead the world in marine underwriting

Readers discuss developments in shipping, and the implications for Taiwan of US actions in the Iran war.

Education in Hong Kong

Why the slow progress for Hong Kong’s university town?

University leaders urge government to clarify how much land they will get in Northern Metropolis megaproject, saying talks with potential partners can’t move forward.

Illustration: Davies Christian
Northern Metropolis

Editorial | Special laws can help the Northern Metropolis pick up pace

It is vital that the megaproject proceeds as quickly as possible while adhering to standards and monitoring.

A view of San Tin and the Hong Kong-Shenzhen Innovation and Technology Park in Lok Ma Chau, on March 16. Photo: Eugene Lee
HKEX

Editorial | HKEX’s listing reforms will boost Hong Kong’s competitiveness

The measures seek to widen access for innovative firms seeking capital while preserving the city’s standards of financial probity.

Northern Metropolis

Hong Kong finance chief stresses flexibility in pitch for Northern Metropolis

Government will discuss land and financial support with mainland and overseas businesses seeking to take part in project, Paul Chan tells Beijing seminar.

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CK Hutchison

CK Hutchison vows to pursue ‘all legal remedies’ over seized Panama ports

Group says diversified network could benefit from higher storage revenue as inventory demand rises amid Strait of Hormuz crisis.

Cristobal port was seized by Panamanian authorities in February. Photo: AFP
Hong Kong Monetary Authority (HKMA)

HKMA warns of interest rate uncertainty amid Middle East conflict

HKMA leaves city’s base rate untouched at 4 per cent, as HSBC, Standard Chartered and BOCHK keep prime lending and saving rates unchanged.

Insurance

Editorial | Medical insurance review a timely move for a sector under pressure

Hopefully, the review will open doors to a transparent, digitally accessible and internationally focused insurance market.

Iraq

Hong Kong more attractive to talent amid Middle East tensions, labour chief says

Secretary for Labour and Welfare Chris Sun says fourth of imported workers from various schemes are foreign passport holders.

The CareerConnect Expo at the Hong Kong Convention and Exhibition Centre in Wan Chai. Photo: Karma Lo
United States

Hong Kong’s Airport Authority to develop HK$300 million art storage facility

Authority partnering with Hong Kong’s Eythos to create 4,920 square metre facility as part of wider push to turn city into arts trading hub.

The art storage facility will be part of Skytopia, a HK$100 billion expansion of Airport City. Photo: Eugene Lee
Hong Kong tourism

Hong Kong Tourism Board to woo overnight big spenders, diversify visitor mix

Board executive director Anthony Lau says 75 per cent of its resources will go towards overseas markets.

Hong Kong workers/labour rights

Hong Kong’s jobless rate falls by 0.1 percentage point

Unemployment rate for December to February period stands at 3.8 per cent, with situation improving in retail, accommodation services, and foundation and superstructure sectors.

Hong Kong transport

Bus driver union slams KMB policy to turn off air con when no patrons on board

Motor Transport Workers General Union hits out at bus firm’s measure to save fuel amid surging oil prices triggered by Middle East conflict.

KMB is under fire for its new policies to save on fuel costs. Photo: Jelly Tse
Northern Metropolis

Northern Metropolis land-use laws won’t undermine board’s authority: experts

Compressing procedures to two months will break traditional development ‘shackles’, lawmaker argues.

The Northern Metropolis scheme covers 30,000 hectares of land near the border with mainland China. Photo: Sam Tsang
Northern Metropolis

Measures to streamline Northern Metropolis land-use procedures unveiled

Proposed Development Bureau legislation aims to cut process from nine months to just two and remove bottlenecks.

US, Israel war on Iran

Hong Kong to press ahead with expanding Middle East ties despite regional unrest

Chief Executive John Lee vows to keep pursuing business opportunities in the region, hailing Hong Kong as an ‘irreplaceable’ investment gateway.

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