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Business

Beijing-favored candidate won Hong Kong’s chief executive election

Carrie Lam is first woman to fill that position On March 26, Hong Kong announced that Carrie Lam, the former Chief Secretary for Administration of Hong Kong, will be the special-administrative territory’s new chief executive beating former Financial Secretary John… Continue Reading →

Hong Kong taken in Chinese-led Asia Infrastructure Bank

China-backed Asian Infrastructure Investment Bank expands its global members include 70 countries The Beijing-led Asian Infrastructure Investment Bank (“AIIB“) approved the membership application of Hong Kong and 12 other jurisdictions including include Canada, the world’s 10th largest economy, as well… Continue Reading →

Hong Kong signs AEOI tax agreements with 6 jurisdictions

Belgium, Canada, Guernsey, Italy, Mexico and the Netherlands team with Hong Kong to curb tax evasion Hong Kong Governement has been seeking to expand Hong Kong’s AEOI network with worldwide tax treaty partners. The signing of agreements with six more… Continue Reading →

China businessman jailed trying to bribe HSBC staff

In hope that the bank’s officer can facilitate his account opening application for his company Background: HSBC has recently tightened requirements for opening company accounts in Hong Kong to comply with anti-fraud regulations, and international anti-money laundering and counterterrorist financing… Continue Reading →

Hong Kong drops to 9th on global competitiveness ranking

The city-state retains its place in top 10 for 5 consecutive year: strong infrastructure helps, weak innovation drags. The Global Competitiveness Report 2016-2017 was released on 28th September by the World Economic Forum, a Geneva- based non-profit foundation. The report… Continue Reading →

“Quick” visa for foreign visitors entering Guangdong suspended

G20 summit security hits China travel VISAs from HKSAR Several foreign tourist groups in the city, led by Hong Kong tour agencies, have been refused entry into Guangdong province since last week due to a “system upgrade” on the mainland… Continue Reading →

Hong Kong regains the crown of world’s most expensive city for expats to live

Strong currency and barely affordable housing push Hong Kong to the top of the list According to the latest annual survey of 2016 Cost of Living Rankings by consultancy firm Mercer, Hong Kong has been named the world’s most expensive… Continue Reading →

Mainland China is the biggest risk to Hong Kong banking stability

Hong Kong banking sector outlook remains “negative” Generally, analysts attribute the negative outlook to Hong Kong banks’ growing exposures to mainland China, deteriorating credit conditions in mainland, asset market imbalances Hong Kong’s economy, and the government’s proposal on revised bank… Continue Reading →

Visitors to Hong Kong surged in Labor Day holiday

Tourists from Mainland China showed double-digit yearly growth The year-long deterioration in tourist figures has slowed in the last 2 months, in a possible turning point after the latest figure in Labor Day holiday. The number of mainland visitors has… Continue Reading →

HK second board listings surge on debute

The top shares outperforms the market by notching astonish 19-fold gain on the first trading day GEM board, second board of HKEX, seems a hype market and has become a wonderland for investors seeking to “cash out” after taking advantage… Continue Reading →

Hong Kong ranks after Singapore in financial centre index

Competitiveness of Hong Kong slides The latest index released by Z/Yen Group shows Singapore has overtaken the SAR as the No 3 global financial center. As the dominant financial centre to Chinese economy, Hong Kong’s financial center status is irreplaceable… Continue Reading →

Green light of SZ-HK Express Rail Link granted in a surprise voting

Pan-democrats legislators failed to resist the Legco to pass the bill causing extra HK$19.6 billion budget. Based on Hong Kong legislation during Leung Chun-ying regime, when it comes to critical bills to the government like the Appropriation Bill, act of filibusters by pan-democrats… Continue Reading →

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