Today, Hong Kong has a thriving service sector, which, on average, will be slower to be replaced by automation than manufacturing. Applying the expected automation potential from the McKinsey analysis to the current industry mix in Hong Kong, only about 25 ... ( read original story ...)
GoGoVan becomes Hong Kong’s first $1 billion startup following merger deal
At our TechCrunch China event in June we discussed the bright future that Hong Kong’s startup scene has, despite some big challenges. This week the country passed a notable milestone as it got its first $1 billion valued startup, better known as a unicorn. ( read original story ...)
How a high-school dropout with big ideas founded GoGoVan, Hong Kong’s first US$1bn start-up
Like all the best ideas, it started with a problem. For Steven Lam Hoi-yuen – the man who would go on to co-found Hong Kong’s first US$1 billion start-up – that problem was the difficulty of trying to find delivery vans. The year was 2010, and a ... ( read original story ...)
HK startup GoGoVan to merge with China-based 58 Suyun
GoGoVan, a Hong Kong startup that has created an app-based platform for logistics services through vans, will be merging with mainland-based 58 Suyun, a freight unit of internet marketplace 58 Home. When the transaction is completed, 58 Home will emerge ... ( read original story ...)
Hong Kong stock rally draws record number of brokers, fund managers
Hong Kong’s stock market is making a comeback ... we may revoke the licences of corporations and individuals if they do not genuinely carry out a business in a regulated activity,” the SFC statement said. “This followed our observation that an ... ( read original story ...)
Business community in Hong Kong ‘should do more to tackle human-trafficking in Asia’, says former US prosecutor and diplomat
Former ambassador to the US department’s Office to Monitor and Combat Trafficking in Persons, Luis CdeBaca, has called on the financial industry in Hong Kong to do their bit combating human-trafficking in the region and urged the city’s government to ... ( read original story ...)
Small doesn’t come cheap – Hong Kong’s nano flats cost 9 per cent more in square footage
Hong Kong’s second-hand tiny flats are 9 per cent more expensive than larger ones on a per square foot basis, as record-high home prices and government cooling measures have created a mismatch between supply and demand. The average per square foot price ... ( read original story ...)
Hong Kong tech startup plans up to $150 million token sale for environmental credit market
NEW YORK (Reuters) - Veridium Labs, an environmental technology startup headquartered in Hong Kong, said on Monday it hopes to raise $150 million in October by selling two types of tokens backed by forest carbon offset credits and other credits used to ... ( read original story ...)
Hong Kong teams up with Dubai to promote fintech innovation
Hong Kong’s securities watchdog has teamed up with its counterpart ... for customers but many brokers are still hesitant to widely adopt fintech or AI in their business for fear of liability and regulatory issues,” said Mau. “If the SFC and other ... ( read original story ...)
GoGoVan to become Hong Kong’s first US$1 billion start-up after merger with 58 Suyun
Hong Kong logistics company GoGoVan has agreed to a merger with 58 Suyun, the freight business of mainland Chinese online classifieds giant 58 Home, creating the city’s first start-up worth more than US$1 billion. The merger would also create Asia’s ... ( read original story ...)
Hong Kong, mainland stocks breach major landmarks
Hong Kong and mainland stocks both registered major landmarks on Monday. The Hang Seng Index now looks set to close above 28,000 for the first time since May 2015, with a gain of as much as 0.8 per cent in the morning session, while the Shanghai Composite ... ( read original story ...)
Pakhar lands a second punch on battered Hong Kong, Macau with flight chaos, accidents and business closures
Severe Tropical Storm Pakhar barrelled down on Hong Kong and Macau on Sunday, disrupting flights and transport in two cities that had barely recovered from the hammering inflicted by Typhoon Hato last week. One man was killed in a traffic accident and 62 ... ( read original story ...)
Here are seven ways for tackling Hong Kong’s morbid grinding sense of stagnation and inequality
McKinsey reported a couple of months ago that up to two thirds ... Rather, it is about ensuring that Hong Kong families have a place to live that they can properly call a home. It is a crime that Hong Kong’s regulators have not forced on developers ... ( read original story ...)
Four practical ways for Hong Kong to help its business start-ups
After a decade with the community’s main focus seemingly elsewhere, it is refreshing to have a chief executive who is inclined to be proactive in support of economic development generally and the business community in particular. The proposal by Carrie ... ( read original story ...)