A report on China's private wealth market, conducted jointly by China Merchants Bank and Bain & Company in mid 2015, found 71 percent of about 2,800 Chinese high-net-worth individuals chose Hong Kong as their favourite offshore investment destination. ( read original story ...)
In Hong Kong, the world’s priciest home market, attempts to rein in prices are backfiring
A gauge of Hong Kong developers’ stocks has risen 12.3 per cent this ... said Raymond Yeung, Australia & New Zealand Banking Group Ltd.’s chief economist for greater China. Transactions have fallen by more than half since the new tax, from 6,739 ... ( read original story ...)
The Hong Kong banker who gave up his career to facilitate release of abductees in Afghanistan and help victims of Syrian civil war
When I was leaving Kenya he said, “Jason, one day I will save enough money to come to Hong Kong to visit you.” I knew it was a mission impossible for him. It had me thinking, “How can the world be like this?” Working in an investment bank can make ... ( read original story ...
Bitcoin trading shrivels under Chinese government’s glare
The People’s Bank of China launched checks into the three exchanges ... in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. ( read original story ...)
Travel review: Hong Kong, Peak Travel
Peace and quiet are rarely terms a prospective holidaymaker would apply to Hong Kong. Instead it is the city’s iconic skyline, bright lights and gleaming glass towers that remain routed in popular imagination. And while nothing quite captures the ... ( read original story ...)
Tycoon's disappearance keeps HK on edge
HONG KONG: The mysterious disappearance from Hong Kong of Xiao Jianhua, a China-born billionaire, has sent a chill through mainland business circles linked to the territory, and some are even looking to move their assets, say financiers, lawyers and ... ( read original story ...)
Business tycoon Li Ka-shing’s visit to Beijing’s Hong Kong office sparks speculation over leadership race
Hong Kong’s richest man was seen visiting the China Liaison Office – Beijing’s organ in Hong Kong – on Wednesday, sparking speculation over whether the visit was related to next month’s chief executive election. In a video captured by digital ... ( read original story ...)
Hong Kong stocks close at 3-month high after Trump’s tax cut hint
China’s shares closed at their highest level in two months, while Hong Kong stocks reached their highest closing level in more than three months on Friday. The gains followed advances on Wall Street after a tax pledge from US President Donald Trump ... ( read original story ...)
Coffin homes a way of life for budget-conscious Hong Kong residents
For Hong Kong resident Simon Wong, it's been a way of life for two decades. The 61-year-old has spent the last 20 years living in the tiny space he calls home. According to Business Insider, Wong's monthly rent is $295 a month. “It's been two years since ... ( read original story ...)
Maybe this time round, our next chief executive might consider my ‘Ten Projects for the People’
He was lambasted for throwing hundreds of billions of dollars at iconic projects that seemed more to please Hong Kong’s business aristocracy than to meet the needs of a community still reeling from the 2008 crash. At the time, I argued that the then ... ( read original story ...)
Hong Kong residents squeeze into ‘coffin homes’ as housing crisis worsens
King, 18, who works as a bartender smokes his cigarette in a wooden box he uses as living space in Hong Kong © Romeo Ranoco / Reuters The high rents in Hong Kong are forcing some of its seven million people into so-called 'coffin homes,' or 20-square ... ( read original story ...)
Side Dishes: Calling all hungry social media darlings
Foodies have a chance to vie for a five-day trip to Hong Kong with exclusive tastings, celebrity chef meet-ups (like with three-Michelin star chef Alvin Leung), food tours, business class travel and five-star accommodation adding up to about $8,000. ( read original story ...)
Hong Kong police arrest man after 18 injured in subway fire
Hong Kong authorities have arrested a man for arson after a fire broke out in a subway car during rush hour Friday in a busy tourist district, injuring 18 people, two of them critically. Police said there was no evidence to indicate the fire was a terror ... ( read original story ...)
HSBC calls for revamp of tax regime
Compared to 15 years ago, there are more jurisdictions that have a lower tax rate than Hong Kong while Singapore’s effective tax rate is at a similar level with the SAR,” said HSBC Asia Pacific adviser George Leung Siu-kay. He said he expected the ... ( read original story ...)