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As the Year of the Dragon approaches, there are reasons to be optimistic about gold consumption in China, according to a major Hong Kong-based jewellery retailer. Kent Wong Siu-kee, the managing director of Chow Tai Fook group, spoke with the Post about the company’s performance in recent years and its marketing str…
A global rice shortage is looming as India, the world’s top exporter of rice, is experiencing a poor harvest season, amid disruptions caused by attacks on shipping in the Red Sea. The shortage prompted New Delhi to cut exports to protect its domestic supply in July 2023, putting further pressure on the global rice m…
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An investigation by the South China Morning Post has uncovered rampant land grabs in some of Hong Kong’s priciest residential properties. Some buildings were found to have been extended by encroaching into government land without authorisation, while others appeared to have suspected unauthorised additions. Such act…
The Lunar New Year travel rush has begun and initial figures suggest holiday traffic is up compared to 2023. Nearly 190 million passenger trips were made on the first day of travel alone, a 19.7 per cent rise compared to the same period last year. But amid a weaker economy, the numbers are not expected to reach pre-…
It is no secret that Hong Kong is one, if not the most, expensive places in the world to own a home. While property prices are now experiencing a cooling trend, buying a home remains an unattainable dream for most residents. But why is that, and what is the government doing to address the issue?
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Hong Kong stocks continued to pile on losses from a three-week retreat on January 22, 2024. Persistently high US interest rates and investor disappointment with China keeping lending rates tied to mortgages unchanged, led to the Hang Seng Index shedding a further 2.3 per cent. Eugene Tang, managing editor of the Pos…
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Hong Kong Financial Secretary Paul Chan Mo-po has ruled out introducing a controversial capital gains tax in the foreseeable future. In an interview with the Post, Chan noted the potential impact such a measure would have on the city’s economy and its tax competitiveness. Speaking from Davos, where he is attending t…
China's economy grew by 5.2 per cent in 2023, meeting its annual target. But concerns loom in 2024 due to waning investor confidence, a prolonged property market slump, and a weak private sector.
Hong Kong’s finance chief discussed how the city can deepen cooperation with Saudi Arabia during a meeting with his Saudi counterpart in Switzerland on January 15, 2024. On his first day at Davos for the World Economic Forum annual meeting, Financial Secretary Paul Chan Mo-po called on Arab firms to use Hong Kong to…
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Lebanese and Palestinian security sources said that Hamas deputy leader Saleh al-Arouri was killed by an Israeli drone strike in Beirut on January 2, 2024. Arouri is the most senior Hamas political leader to be killed since Israel launched a ground offensive in Gaza nearly three months ago. The Israeli army has yet …
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Prominent China Aids activist Gao Yaojie has died in New York, where she had been living in exile. Gao exposed the “plasma economy” that led to an Aids epidemic in Henan province in the 1990s. Gao was 95.
Wang Fuman became known as China’s “ice boy” in early 2018, when his family was among millions in the country who were living in poverty. Since then, the family has moved into a new home and started raising livestock and saw their quality of life steadily improve. But during the pandemic, Fuman’s parents welcomed tw…
Hong Kong will double down on fixing the economy despite facing serious external uncertainties in the year ahead amid continuing geopolitical tensions and high interest rates, the finance chief has said, while also expressing confidence that a slumping property market will not trigger a crisis of confidence.
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Hong Kong leader John Lee Ka-chiu joined senior business leaders for the striking of the ceremonial gong at the Hong Kong Stock Exchange (HKEX), to kick off the inaugural FII Institute's Priority Asia conference on December 7, 2023. More than 1,000 policymakers, business leaders and investors gathered for the event …
North Korean leader Kim Jong-un on December 3, 2023, called on women nationwide to have more children, in a bid to reverse the country's falling birth rate. Despite the country’s poor economy, Pyongyang faces similar demographic challenges as advanced economies.
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South Korea’s all-important national college entrance exam was held on November 16, 2023. Success in the eight-hour standardised test known as Suneung is considered critical for a student’s future career success. To minimise noise distractions during the exam, South Korea banned flights from landing and taking off, …
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Franklin Templeton's Head of Asia Pacific Tariq Ahmad said the current cheap cost of Chinese stocks "creates better entry points" for investors to tap long-term growth in the country. Ahmad spoke with the Post during the Global Financial Leaders’ Investment Summit in Hong Kong on November 6-8, 2023.
Chip Kaye, CEO of Warburg Pincus said broad market averages in China have stayed flat over the past decade, but this signifies a maturation, rather than a slowdown, in the country’s private equity environment. Kaye spoke at the Global Financial Leaders’ Investment Summit hosted by the Hong Kong Monetary Authority. T…
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Japan’s MUFG Bank and its corporate clients are bullish on China despite the current economic slowdown, according to Asia-Pacific CEO Masakazu Osawa. MUFG’s parent company is the largest financial firm in Japan. Osawa said the bank is also upbeat on the long-term growth outlook of the Asia-Pacific region and Hong Ko…
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The Global Financial Leaders’ Investment Summit opened to the public on November 7, 2023, with Hong Kong’s de facto central bank hosting the largest gathering of financial heavyweights the city has seen in nearly three years. Sebastian Paredes, CEO of DBS Hong Kong, said the fact that influential business leaders fl…
After more than 40 years of development, Chinese wines are starting to gain international and domestic recognition for qualities that are increasingly seen as comparable to imported wines. But in a market where imported wines are still viewed as a symbol of social status, local winemakers say the country’s relativel…
Sam Bankman-Fried, the founder of now-defunct crypto exchange platform FTX, was convicted on seven charges in one of the world’s biggest financial fraud cases. He was accused of mishandling company funds and siphoning away money out of greed. A total of US$8 billion went missing last year, following FTX’s collapse. …
Catholics across the Philippines visited cemeteries to give offerings in memory of deceased loved ones while marking All Saints’ Day on November 1, 2023. Many lit candles and brought flowers to gravesites despite inflation having pushed the cost of such tributes beyond the means of some families. Others left offerin…
Hong Kong leader John Lee Ka-chiu unveiled a series of measures to jump-start the economy, in his second policy address on October 25, 2023. They include easing property curbs for the first time in over a decade. Lee also proposed several incentives to encourage Hong Kong couples to have more children.
Japan’s prime minister has pledged to cut household income tax to compensate for the rising cost of living. In his speech at the start of the new parliamentary session on October 23, 2023, Fumio Kishida said his administration intends to pull the economy permanently out of stagnation. His comments came as his ruling…
Vietnam’s first electric vehicle (EV) car company, VinFast, has dreams of making it big in the international market. But the firm owned by the country’s biggest conglomerate Vingroup has been finding it tough to crack its own domestic market. The carmaker went public on the Nasdaq in August, 2023. The company said i…
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China’s economy grew by 1.3 per cent in the third quarter from the previous three months, and by 4.9 per cent year-on-year. Retail sales grew by 5.5 per cent in September, from the previous year, but the property market fell by 9.1 per cent in the first three quarters.
Millions of migrant workers helped transform China from an agrarian economy into a manufacturing giant, but most have yet to see major changes in their own living conditions. Unequal distribution of benefits and precarious working conditions mean most remain in jobs well past the statutory retirement age. This Post …
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Bankers from Goldman Sachs and Morgan Stanley will be among about 300 industry heavyweights from around the world who will join the Hong Kong Monetary Authority (HKMA) next month for a summit on finding opportunities amid economic and political complexities after the Covid-19 pandemic. Eddie Yue Wai-man, CEO of the …
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