Category

Economy

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 →

Expensive Housing Drags Hong Kong’s Quality-of-Living Rankings

Singapore tops Japan as the best Asia’s city for living The annual survey by Mercer, used by multinational companies to design expat packages, ranked Hong Kong 71 out of 231 cities for quality of living – dropping one spot from… Continue Reading →

HK private home prices mark record high of 2016

Prices 3.46pc lower than their peak in September 2015 According to data released by the Rating and Valuation Department on 31st October, Hong Kong home prices rose by 2.78 percent in September (a month-to-month growth rate), marking 8.88 percent the… Continue Reading →

Tiny “Space Capsule” homes spring up in Hong Kong

Netizens mock the idea as a moden twist of “coffin apartment” and “dog house” Being seen on a website of local properties platform, a dozen tiny 20-square-foot capsules come with a television, air conditioning, memory foam and pillow for single… 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 →

Photographer sheds light on hardship of the deprived

Tin sheds on rooftop, coffin cubicles, and “cage houses” are homes of 200,000 poor Hongkong-ers In 2016, Society for Community Organization (SoCO) are working with photographer Benny Lam again to jointly organize a “Trapped” photo exhibition, highlighting poor housing in… Continue Reading →

China insurers accelerate equity investment in Hong Kong

China’s insurance funds are allowed to invest in the Hong Kong equity market through the Shanghai-Hong Kong Stock Connect scheme In 2012 Beijing announced it would allow insurance companies to invest up to 15 per cent of their assets overseas… Continue Reading →

8000 HK-ers flocked to home flat viewing

Developers are selling flats at lower-than-expected price Sun Hung Kai Properties (SEHK:0016), sole developer of Yoho Town project which is a multi-phase residential housing and shopping malls complex adjunct to Yuen Long MTR station, said more than 8,000 people visited… Continue Reading →

Uber to sell China’s operation to rival Didi after cut-throat price wars

Huge loss in China market concerns the investors Analysts believe that Uber Technologies Inc has already lost US$2 billion in China in two years, investors push the US tech company to wave the white flag to a bruising battle with… 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 →

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