A record number of Chinese tech and internet companies are rushing to launch IPOs overseas this year, amid the looming shadow of overall tightening credit conditions, which bears a lot of similarities ... ( read original story ...)
Hong Kong’s new fight against fast fashion
Global consumers purchased 60 percent more clothing in 2016 than in 2000 and only kept each item half as long, a report by McKinsey consultancy found. Hong Kong alone sends 343 tonnes of textiles to t... ( read original story ...)
Good news coming for Hong Kong workers on mainland as Chinese vice-premier Han Zheng hints at tax exemption
Chinese vice-premier Han Zheng has hinted to a Hong Kong delegation in Beijing that a tax exemption for Hongkongers working on the mainland would be rolled out “very soon”. Han also reassured the grou... ( read original story ...)
UPDATE 3-Hong Kong banks raise benchmark lending rates for first time in 12 years
HONG KONG, Sept 27 (Reuters) - Hong Kong commercial banks raised their benchmark lending rates on Thursday for the first time in 12 years, increasing the cost of home mortgage repayments in one of the ... ( read original story ...)
Breakingviews – Fed helps Hong Kong homebuyers at owners’ expense
As tighter U.S. monetary policy feeds into Hong Kong mortgages, flat values look set to fall. That may open a door for younger residents, many of who have been priced out of world’s bubbliest property ... ( read original story ...)
Older millionaires becoming just as digitally savvy as younger ones, says Citi’s new HK chief
Citi’s new chief executive in Hong Kong says the US banking giant plans to cast its digital wealth management net far wider than its competitors, by targeting older as well as younger aspirational cus... ( read original story ...)
Hong Kong, Macau and Zhuhai officials to report on China mega bridge drill and ask Beijing for opening date
Officials from Hong Kong, Macau and Zhuhai will report to the central government next Wednesday on how a three-day drill played out at the new mega bridge linking the three cities and seek its confirm... ( read original story ...)
Hong Kong’s minimum wage workers to be paid HK$3 an hour more, and no one is happy about the increase
Hong Kong’s hourly minimum wage is expected to increase by HK$3 an hour, with government advisers reaching an agreement after “fiery” discussions. The impending change has angered labour unions and th... ( read original story ...)
Prudential, Sun Life among bidders for CBA’s Indonesia insurance business: sources
HONG KONG (Reuters) - At least five insurers ... is the latest case of foreign insurers wanting to expand their life business in Southeast Asia, a region of more than 600 million people. ( read original story ...)
Crypto Startups Move to Hong Kong Skyscrapers While Major Banks Check Out
The real estate market of Hong Kong is said to be one of the most expensive in the world, alongside New York, London, and Sydney. Yet, crypto startups are moving into the most valuable skyscrapers in ... ( read original story ...)
Hong Kong rail operator banking on huge influx of mainland China tourists to give flagging passenger numbers a boost during ‘golden week’
Hong Kong’s new cross-border high speed rail services carried only about half of the estimated 80,000 daily in its first five days, but its operator expects “robust demand” as the mainland starts a 10 ... ( read original story ...)
450,000 Hong Kong bank customers to benefit from instant QR-code-based money transfer system from Sunday
More than 450,000 bank customers will be able to transfer money, shop and pay bills by scanning Quick Response (QR) bar codes from Sunday (Sept 30), via a new Hong Kong Monetary Authority (HKMA) platf... ( read original story ...)
HK banks cast pall over property by raising rates
Having enjoyed low, stable borrowing costs for more than a decade, Hong Kong's economy is now bracing for higher rates as the US central bank normalizes policy. Hong Kong is the major city at the bigg... ( read original story ...)
HK banks increase rates for the first time in 12 years
HSBC, Hang Seng Bank and Bank of China (Hong Kong) all said they will raise their benchmark lending rates to 5.125 percent from 5 percent, while Standard Chartered will raise its to 5.375 percent from ... ( read original story ...)