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BUSINESSAug 10As China tightens its tax rules, can Hong Kong remain a magnet for billionaires?For decades, Hong Kong has been a magnet for the rich. From wealthy Chinese setting up family trusts to millionaires migrating from across Southeast Asia, all of them have been sucked in by the city’s promise of free capital flows, a trustworthy legal system and extensive financial expertise. It is a winning combination that helped Hong Kong leapfrog Switzerland as the world’s biggest cross-border wealth hub last year, as the city rode a wave of blockbuster listings by Chinese technology...South China Morning Post
BUSINESSAug 9Moore Threads plans Hong Kong listing after posting 147% jump in first-half revenueChinese artificial intelligence (AI) chip developer Moore Threads plans to seek a listing in Hong Kong after reporting a 147 per cent jump in first-half revenue, as the Nvidia challenger seeks fresh capital amid booming demand for home-grown computing power. The Shanghai-listed company said on Sunday that its board had approved a plan to issue H shares and list on the main board of the Hong Kong stock exchange, a move designed to deepen the firm’s “international strategic footprint”, attract and...South China Morning Post
BUSINESSAug 9How are Hong Kong restaurants faring 1 month into the dog-friendly scheme?Restaurateur Ken Chu Ka-chun recorded a 20 per cent boost in business at one of his outlets at Kai Tak Sports Park over the past month, thanks to pet owners dining in under a government scheme allowing dogs into nearly 1,000 Hong Kong establishments since July 9. “We saw more dog owners coming in because people frequently walk their dogs around here,” said Chu, owner of Asura group, which has two restaurants with pet-friendly licences. The restaurant has separate seating areas for diners with...South China Morning Post
BUSINESSAug 8Hong Kong employer groups call for helper wage freeze, warn of mass sackingsA coalition of Hong Kong employers has called on the government to freeze the pay of foreign domestic workers this year, warning that any wage increases may result in mass sackings. They also proposed a new pay-for-performance mechanism to allow employers to reward high-performing helpers more than poor performers. Two employers’ groups – the International Domestic Service Industry Development Federation, and the Quadripartite Alliance for Harmonious Employment Practices – led about 30...South China Morning Post
BUSINESSAug 8Hong Kong commerce chief to lead joint local and mainland delegation to MalaysiaHong Kong’s commerce chief is set to lead a delegation of mainland Chinese and local firms to Malaysia next week, noting that about 200 enterprises from across the border have already set up offices in the city since last year, using it as a stepping stone to go global. Secretary for Commerce and Economic Development Algernon Yau Ying-wah also said on Saturday that the city was eyeing emerging markets in Africa, after exploring the Middle East and Central Asia amid geopolitical tensions. Yau...South China Morning Post
BUSINESSAug 7Hong Kong designer sues Prada for US$5 million over abandoned Rolls-Royce projectA Hong Kong-based Belgian designer is taking fashion powerhouse Prada to court, claiming at least US$5 million in damages for the alleged repudiation of a partnership agreement to redesign a series of Rolls-Royce cars for exhibitions and events worldwide. In a High Court lawsuit filed on Thursday, Jonathan Riss accused the Italian brand of breaching various written and verbal agreements to jointly develop a marketing initiative which he said Hong Kong-listed Prada unilaterally abandoned for...South China Morning Post
BUSINESSAug 7Hong Kong’s US dollar peg faces fresh calls for review – but is change feasible?The Hong Kong dollar’s four-decade-old peg to the US dollar is facing fresh calls for review, after a local financial industry body urged greater use of the yuan and floated the idea of shifting to a basket of major currencies and gold – though financial analysts argue the current system is likely to remain in place. The proposal to revisit the pegged exchange rate system was submitted this week by the Hong Kong Securities and Futures Professionals Association (HKSFPA), as the government gathers...South China Morning Post
BUSINESSAug 7Hong Kong tourism sector urges action with visitor spending 44% below 2018 levelHong Kong’s tourism industry has called for more experiential events, enhanced transport measures and closer cross-border cooperation to draw overnight visitors, after tourist spending fell to HK$197.5 billion (US$25.2 billion) last year, 44 per cent below its 2018 level. Lawmaker Perry Yiu Pak-leung, chairman of China Travel Service (Hong Kong), said on Friday that the fall reflected changing travel patterns, with tourists placing greater value on experiences and in-depth exploration than on...South China Morning Post
BUSINESSAug 7Hong Kong preferred base as Chinese SOEs consolidate overseas accounts in treasury hubsChina’s central state-owned enterprises (SOEs) are consolidating scattered overseas accounts into unified treasury hubs, with Hong Kong emerging as the preferred base amid a broader crackdown on outflows of state cash. Decades of overseas expansion had seen many SOEs build up assets in multiple jurisdictions, leaving cash management fragmented and making it harder for regulators and company headquarters to track liquidity, foreign-exchange risk and cross-border financing, analysts said. Central...South China Morning Post
BUSINESSAug 7Hong Kong aims to be a global tech hub, but can it hold on to its young talent?At just 18, Hong Kong tech enthusiasts Rexan Wong Chak-chi and Ken Mochizuki are both rushing to deliver their business ideas. However, their choices of launch pad could not be further apart. While Wong is eyeing Silicon Valley in the United States for better support, Mochizuki is keen to stay in the city and contribute to the local community. Their contrasting approaches highlight Hong Kong’s advantages and challenges as it strives to become a global innovation and talent hub under China’s...South China Morning Post
BUSINESSAug 7Gold’s price potential still ‘explosive’ amid Beijing hoarding, Hong Kong trading pushGold prices have “explosive” upside potential, according to analysts, boding well for Hong Kong’s ambitions as a trading hub as Asian central banks continue to have a voracious appetite for stockpiling bullion. Supporting the outlook, Beijing – which has added to its gold reserve for 20 straight months – wants to better connect the Shanghai Gold Exchange to Hong Kong, and the South Korean central bank plans to buy gold for the first time in 13 years. “Gold remains in an explosive phase of the...South China Morning Post
BUSINESSAug 6Hong Kong stock regulator flags more companies for share concentrationHong Kong’s securities regulator has put a spotlight on highly concentrated shareholding this year, a move interpreted by market analysts as a warning about sharp price swings on small-cap stocks. As of August, the Securities and Futures Commission (SFC) had mentioned 13 cases of high shareholding concentration on the Hong Kong stock exchange, compared with 15 for the whole of last year. The figures marked a 30 per cent rise from 2024 and a twelvefold jump from 2023. For example, the controlling...South China Morning Post
BUSINESSAug 6How a Hong Kong luxury estate saved HK$1b in renovation cost with tech solutionsHong Kong homeowners could adopt technology-led preventive maintenance of older buildings to avoid costly large-scale renovation, with the upmarket Residence Bel-Air serving as a viable example that saved residents more than HK$1 billion (US$127.5 million). Allen Ha Wing-on, convenor of the Residence Bel-Air owners’ committee, said while the Wang Fuk Court tragedy was a wake-up call to transform the city’s decades-old practice of conducting major renovation works for ageing estates, the private...South China Morning Post
BUSINESSAug 5China’s X Square Robot submits confidential filing for Hong Kong IPO, sources sayChinese start-up X Square Robot has filed confidentially for an initial public offering (IPO) in Hong Kong, according to two sources familiar with the matter, joining a growing wave of domestic robot makers flocking to capital markets, despite new US trade restrictions. The Shenzhen-based firm has tapped Huatai Securities and Morgan Stanley as sponsors for the prospective float, one of the sources said. Besides X Square, AgiBot and Galbot have also filed confidentially for Hong Kong IPOs, the...South China Morning Post
BUSINESSAug 5Mastercard elevates premium travel with Asia Pacific first Taste by Priceless dining club at Hong Kong International AirportMastercard is enhancing premium travel experiences by launching its first Asia Pacific "Taste by Priceless" dining club at Hong Kong International Airport. This initiative aims to provide exclusive dining options for travelers.chinanationalnews.com · China
BUSINESSAug 5Why China’s new sovereign bond sale in Hong Kong is drawing global interestChina’s Ministry of Finance is set to raise 15 billion yuan (US$2.22 billion) through a sovereign bond auction in Hong Kong, tapping international capital just days after the city launched a long-awaited tool designed to help global investors hedge against mainland bond market risks. The sale marks the fourth tranche of Beijing’s 84 billion yuan sovereign bond programme for the year approved by the State Council, China’s cabinet. The exact tenors and yields would be announced by the Hong Kong...South China Morning Post
BUSINESSAug 4Hong Kong, Macau police arrest 8 over HK$100m Vietnam coffee investment scamHong Kong and Macau police have arrested eight people in a crackdown on an investment scam syndicate that cheated more than 200 people out of nearly HK$100 million (US$12.75 million) by promoting itself as a pioneer of “kinetic coffee philosophy”. The syndicate, operating under the name Fun Coffee, established a presence in Hong Kong last year. Fun Coffee says on its website that it is a coffee investment enterprise based in Phu Quoc, Vietnam, with assets of more than US$1 billion and a team of...South China Morning Post
BUSINESSAug 4Over 1,000 sign up for Hong Kong’s new taxi, ride-hailing testMore than 1,000 applicants have registered for a new combined test for taxi and ride-hailing services in Hong Kong, with lawmakers expecting more people to sign up to meet demand for drivers once the city’s ride-hailing regulatory regime takes effect next year. The initial response came after the Transport Department replaced the stand-alone taxi driver exam with the new combined test, which allows successful candidates to apply for a taxi driving licence or a ride-hailing vehicle permit after...South China Morning Post
BUSINESSAug 4Hong Kong retail sales rise 4.6% in June as growth streak extends to 14 monthsHong Kong’s retail sales rose by 4.6 per cent year on year in June, extending the growth streak to 14 months, with the government expecting continued economic growth, rising incomes and a steady increase in visitors to support the sector. The value of retail sales for the month reached HK$31.5 billion (US$4.01 billion) with the retail sales in the first half of the year marking a 9.6 per cent increase over the same period in 2025, according to provisional figures released by the Census and...South China Morning Post
BUSINESSAug 4Alibaba-backed 3D AI startup Vast considers Hong Kong IPO: BloombergAn Alibaba-backed 3D AI startup named Vast is reportedly considering an Initial Public Offering (IPO) in Hong Kong. This indicates potential growth and investment opportunities in the technology sector.Seeking Alpha Tech
BUSINESSAug 4Why are Hong Kong delivery drivers unhappy about proposed payouts for injuries?Hong Kong delivery rider Raj Bhattarai* felt the pain – both physically and financially – after a vehicle rear-ended his motorcycle on the job about a year ago. Bhattarai, who is in his forties, spent a month on sick leave with a back injury and waited 10 months before he received compensation for the accident. The payout was a paltry HK$3,000 (US$382). “It is not enough at all,” said the father of one young child and the family’s sole breadwinner. “I used to earn around HK$30,000 a month, but I...South China Morning Post
BUSINESSAug 3Hong Kong’s Chinese bond futures are a major step for the global yuanOn August 3, five-year Chinese treasury bond futures began trading on the Hong Kong stock exchange. Market attention has focused on the new product, but its real significance emerges when set against the deep shifts under way in the international monetary system. History offers a clear lesson: no currency has graduated from a trade settlement currency to a genuine investment and reserve currency on the strength of trade flows alone. Behind every reserve currency stands a government bond market...South China Morning Post
BUSINESSAug 3AECOM unveils new Hong Kong workplace designed for innovation , collaboration , and wellbeingAECOM has revealed a new workplace in Hong Kong, emphasizing design for innovation, collaboration, and employee wellbeing. This development reflects the company's focus on modern work environments.humanresourcesonline.net · Singapore
BUSINESSAug 3Global institutional investors eager to trade Chinese bond futures in Hong Kong, HKEX saysInternational asset managers, pension funds and insurance companies have shown strong interest in offshore China government bond futures, which are set to start trading in Hong Kong for the first time on Monday, according to senior stock exchange executives. The new 5-year China government bond futures contracts will have a size of 500,000 yuan (US$74,051). Bourse operator Hong Kong Exchanges and Clearing (HKEX) has set a low minimum margin ratio so that investors only need to invest 7,980 yuan...South China Morning Post
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