4 d. ago Hong Kong’s John Lee tells Legco fire relief, accountability at top of agenda

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. Hong Kong’s new Legislative Council is holding its first meeting on Wednesday, with lawmakers set to focus on follow-up actions after last year’s Tai Po fire that claimed at least 161 lives. Chief Executive John Lee Ka-chiu addressed the new batch of 90 lawmakers, highlighting government...

Events

6 d. ago Hong Kong must issue bonds as public works drive capital account deficit: Paul Chan

Hong Kong’s heavy investment in public works will keep the capital account in deficit, highlighting the need for bond issuances to fund critical infrastructure and long-term development, the finance chief has said as he revealed the annual budget will be delivered on February 25. Financial Secretary Paul Chan Mo-po also said on Sunday that core spending on education, healthcare and social welfare consumed nearly 60 per cent of the budget, even as higher stamp duty revenue and other income...

Economics

7 d. ago Hong Kong’s finance chief confirms early surplus, vows more elderly support

Hong Kong’s finance chief has confirmed an early operating account surplus driven by strong financial market performance and stock trading stamp duty revenue, as he addressed calls for more elderly welfare measures at the first public forum for the coming budget. Financial Secretary Paul Chan Mo-po vowed on Saturday to make “utmost” efforts to address elderly residents’ concerns over high living costs, while highlighting that authorities had not reduced public spending on the social welfare...

Economics

1 week ago Hong Kong’s Wang Fuk Court owners’ group mounts defence against ‘smear campaign’

The owners’ committee of the fire-hit Wang Fuk Court housing estate in Hong Kong has rejected accusations of poor transparency and accountability as a “baseless smear campaign”, issuing a lengthy report ahead of a legal process to dissolve the group. In a 183-page report issued on Monday to fellow owners of Wang Fuk Court in Tai Po, the group also disclosed that it had paid about HK$180 million (US$23 million) to the contractors for repair and renovation work. The group added that it helped...

Events

1 week ago Wang Fuk Court owners’ group mounts defence against ‘smear campaign’ in Hong Kong

The owners’ committee of the fire-hit Wang Fuk Court housing estate in Hong Kong has rejected accusations of poor transparency and accountability as a “baseless smear campaign”, issuing a lengthy report ahead of a legal process to dissolve the group. In a 183-page report issued on Monday to fellow owners of Wang Fuk Court in Tai Po, the group also disclosed that it had paid about HK$180 million (US$23 million) to the contractors for repair and renovation work. The group added that it helped...

Events

1 week ago Hong Kong records 72% jump in mainland Chinese tourists over long New Year break

Hong Kong welcomed nearly 660,000 mainland Chinese visitors over the New Year countdown and the subsequent three-day holiday across the border, a 72 per cent increase from the same period a year ago. Sector representatives said the surge was a boost for the hotel sector but brought limited benefits for retailers. Data released by the Immigration Department on Sunday showed 659,090 mainland visitors entered Hong Kong between New Year’s Eve and Saturday, accounting for 79 per cent of the total...

Politics

2 w. ago Hong Kong accounting firms plan hiring spree and embrace AI to attract talent

Hong Kong-based accounting firms plan to continue expanding their workforce in 2026, hoping to attract newly minted accountants, even as the industry steps up the adoption of artificial intelligence, according to industry players. “We do not believe AI is a replacement for humans, and we have not seen any reduction in hiring in the past nor do we plan to [reduce hiring] in future,” said Andrew Wong, partner of audit quality and professional practice at KPMG China. “We see AI and our people as...

Economics

3 w. ago 5,000 Hong Kong workers idle as new scaffold net safety regime hits 200 projects

One month after the Wang Fuk Court fire, Hong Kong’s construction industry grapples with a scaffold net safety regime halting repairs on over 200 buildings. In the third part of a series, Edith Lin and Vivian Au report on calls for certified suppliers, expedited testing and a broader accountability overhaul. Here’s part one and two. Hong Kong’s construction industry has been thrown into uncertainty under a new scaffold net inspection regime introduced after the deadly fire in Tai Po, prompting...

Events

4 w. ago Market rates set Hong Kong’s HK$150,000 subsidy for Tai Po fire victims: minister

Hong Kong authorities took market rates into account before setting a two-year annual subsidy of HK$150,000 (US$19,278) for flat owners displaced by the Tai Po fire, the city’s home affairs minister has said, amid calls for the government to monitor whether the new measure will further drive up rents in the area. Under the new measure, homeowners of the fire-damaged Wang Fuk Court will each receive the subsidy to rent homes in the private market, at a total cost of HK$1.2 billion. Both flat...

Events

4 w. ago Hong Kong police arrest 5 over stealing HK$1.8 million from eMPF account holders

Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s newly created online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to instantly suspend its digital paperless verification process, known as eKYC, for registering online platform users. It apologised for any inconvenience caused. Chief Inspector Lee...

Events

4 w. ago 5 arrested in Hong Kong over HK$1.8 million theft targeting MPF account holders

Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s new online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to immediately suspend its paperless verification process, known as eKYC, for registering online platform users. It apologised for any inconvenience caused. Chief Inspector Lee Chun-man of the...

Economics

4 w. ago 5 arrested in Hong Kong over HK$1.8 million stolen from eMPF pension accounts

Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s new online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to immediately suspend its paperless verification process, known as eKYC, for registering online platform users. It apologised for any inconvenience caused. Chief Inspector Lee Chun-man of the...

Economics