Despite a double-digit stock market decline, the combined wealth of Hong Kong’s wealthiest dips only slightly to $324 billion.
Hong Kong’s Penthouses Face China’s ‘Common Prosperity’
Hong Kong may be one of the world’s most expensive cities, but plans to build more affordable homes have drawn howls of protests from some of its wealthiest residents.
Budget 2023-24: Hong Kong records lowest land sale revenue since 2016, prompting conservative projection for coming financial year
Government estimates it will generate HK$85 billion from land premium income, including sales of 18 sites in coming financial year.
Budget 2023-24: Hong Kong revamps investment scheme for residency – but amount needed will be ‘multiples’ of old HK$10 million threshold
Capital Investment Entrant Scheme will exclude property deals, Financial Secretary Paul Chan says Treasury chief Christopher Hui says officials will consider which asset types are allowed under the ...
Budget 2023-24: Hong Kong finance chief plans to issue infrastructure bonds and sell them to public to ease cash flow pressure
Bond scheme would ensure Hong Kong's debt levels remain at a very safe level,' says Financial Secretary Paul Chan City is on track for an economic rebound following return to post-pandemic normality, ...
Hong Kong to make $637 payment to citizens to stimulate economy
Hong Kong residents are to receive a $637 payment as part of efforts to boost the local economy the government said Wednesday.
Budget 2023-24: Hong Kong earmarks billions to drive innovation and technology industry, starting with microelectronics institute
New microelectronics institute to produce chips for electric car manufacturing to complement mainland China's tech strategies Other initiatives include funding universities and institutes to develop ...
Hong Kong Budget for ‘Happy Hong Kong’ Fails to Make Markets Smile
The frenzied recent rally in Hong Kong stocks after two terrible years is losing its legs, with little to spur the market in the city's newly announced budget.
Expat Incentives Absent from Hong Kong’s Inward-Looking Budget
Hong Kong Financial Secretary Paul Chan laid out a cautious plan on Wednesday for a return to economic growth this year, disappointing those who had hoped the city would take a more ambitious swing at ...
Hong Kong Stocks Near Correction as Growth Headwinds Mount
(Bloomberg) -- Hong Kong’s benchmark stock index fell to the brink of a ... Most Read from Bloomberg How Much Do Investors Say They Need to Retire? At Least $3 Million McKinsey Plans to Eliminate ...
In Web3 push, Hong Kong to spend US$6.4 million boosting industry with plans for virtual asset task force
The Hong Kong government is allocating HK$50 million (US$6.4 million) this year to boost the development of the Web3 industry while it is “in its start-up period”, in addition to setting up a virtual ...
Hong Kong Unveils US$97 Billion Post-pandemic Budget
Hong Kong's finance chief unveiled a HK$761 billion (US$97 billion) budget on Wednesday, plunging into the coffers to pay for the recession-hit city's post-Covid recovery.
Hong Kong hands out cash, cuts duties in budget despite larger deficit
However, Financial Secretary Chan said the recent reopening of China's borders would alleviate some pressure, with business and logistics links normalising after COVID lockdowns. He cited a speech by ...
Hong Kong gives first-home buyers a leg-up with ‘adjustment’ to decade-old stamp duty
Hong Kong’s government will adjust a decade-old stamp duty on mass-market homes to help the city’s first-home buyers get on the property ladder, as it looks to make housing more affordable in the ...