With a 28% stock market decline, the combined fortune of Hong Kong’s wealthiest fell 9% to $296 billion. This story is part of Forbes’ coverage of Hong Kong’s Richest 2024. See the full list here.
Hong Kong Is Over Unless China Fixes Own Economy, Roach Says
China must fix its economy and let Hong Kong run itself if it wants a better future for the financial hub, former Morgan Stanley Asia Ltd. chair Stephen Roach said, after a pessimistic column he wrote ...
Chinese banks approve $17 billion of ‘whitelist’ loans for property sector
By Clare Jim and Ziyi Tang HONG KONG/BEIJING (Reuters) -Chinese banks have approved property development loans of $17.20 billion as part of a special mechanism to inject liquidity into the sector, but ...
Hong Kong’s Jimmy Lai ignored objections to his letter campaign to Donald Trump, said being ‘brave’ only way to stop security law, court hears
Ex-associate publisher Chan Pui-man tells court her protests against Apple Daily’s ‘One Hongkonger One Letter to Save Hong Kong’ initiative fell on deaf ears.
Hong Kong Faces Mounting Pressure to Remove Property Curbs
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HSBC profits soar in 2023, announces share buyback despite geopolitical, economic concerns
HSBC said Wednesday it achieved "record profit" in 2023 as pre-tax gains soared by nearly 80 percent, with the banking giant also announcing further share buybacks. The Asia-focused lender and its ...
Bank of East Asia cut its exposure to China’s troubled commercial property sector last year
Hong Kong’s largest family-owned lender said its non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half, as its ...
Hong Kong to close loophole allowing employers to avoid providing benefits to part-time workers
A labour regulation exploited by some firms in Hong Kong to avoid providing benefits to part-time staff will be revised after representatives of the city’s employers and employees reached a ...
HSBC’s shares slide as $3 billion China bank hit mars record profit
HSBC Holdings on Wednesday reported a shock $3 billion charge on its stake in a Chinese bank amid mounting bad loans in the country, sending the British bank's shares plunging and taking the shine off ...
Top Beijing official overseeing Hong Kong affairs to start 7-day trip to city on Thursday to gauge views on economic development, district governance
In the first two days of his trip, Xia is set to meet John Lee, principal officials and members of the Executive Council, a government insider says.
Cheap Chinese Goods Are Becoming a Costly Problem. Exhibit A: Hong Kong.
Shoppers are hopping across the border, where prices have dropped. Neighboring Asian countries could also be hit if Chinese companies dump their goods there among weak domestic demand.
Hong Kong market jumps in a mixed day for Asia-Pacific stocks; Japan business sentiment sours
Asia-Pacific markets traded mixed following Wall Street losses Wednesday, while investors assessed Japan's trade data and souring business sentiment among large manufacturers. Hong Kong's Hang Seng ...
Hong Kong developers urge government to remove all property cooling measures, make Hongkongers ‘happy’
Hong Kong developers have joined a chorus urging the government to remove all the remaining cooling measures to revive the property sector. Stewart Leung Chi-kin, who is the chairman of the Real ...
HSBC’s shares slide as record profit marred by $3 billion China hit
HSBC Holdings on Wednesday reported a $3 billion charge on its stake in a Chinese bank amid mounting bad loans in the world's second-largest economy, taking the shine off a record annual profit.Shares ...