12 m. ago With early stablecoin law, Hong Kong looks to keep edge as finance hub

With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts. Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital. Hong...

Politics

29 m. ago Tropical Storm Wutip: Hong Kong’s T1 alert to stay in effect most of day

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. Hong Kong’s weather forecaster has said that the No 1 typhoon warning signal will stay in force for most of Thursday, as squally showers associated with a tropical storm near the coast of Guangdong continue to affect the city. The Hong Kong Observatory issued the signal at 12.40am on Wednesday...

Events

42 m. ago Hong Kong police chief vows vigilance against lingering national security threats

Hong Kong’s police chief has pledged vigilance against lingering threats of external interference, home-grown terrorism and “soft resistance”, five years after the Beijing-imposed national security law was promulgated. Commissioner of Police Joe Chow Yat-ming said that while Hong Kong had returned to a state of stability in recent years, “undercurrents” remained that required the force to boost its intelligence-gathering and law enforcement efforts. “Now we are talking about how to advance from...

Events

3 h. ago Beijing’s ties with Moscow and Kyiv should be leveraged for peace

The International Organisation for Mediation launched in Hong Kong late last month, counting 32 countries as founding signatories. An institution designed to supplement and actualise Article 33 of the United Nations Charter is something the world increasingly needs as Russia’s invasion of Ukraine drags into its fourth year. Recent peace talks in Istanbul produced no appreciable progress, while swings on the battlefield have long since given way to a grinding impasse. Neither side appears capable...

Politics

9 h. ago Struggling Hong Kong taxi driver ‘accidentally’ put into chokehold, inquest told

A Hong Kong police officer seen putting a taxi driver who later died into a chokehold has told an inquest that he came into contact with the man’s neck “accidentally” during a struggle. Constable Lam Wai-wing was part of a police team handling a report made by taxi driver Chan Fai-wong on November 11, 2012, and his subsequent arrest for assault. Lam told the Coroner’s Court on Wednesday that his initial attempt to move Chan into a police vehicle was unsuccessful, with surveillance footage...

Politics

11 h. ago Hong Kong’s John Lee seeks closer ties in meeting with EU officials

Hong Kong’s leader has sought to deepen ties with the EU in a meeting with the bloc’s representatives, saying the city will remain a free port despite growing protectionism globally. Chief Executive John Lee Ka-chiu said on Wednesday that he had hosted a lunch attended by Harvey Rouse, head of the Office of the European Union to Hong Kong and Macau, as well as 15 consuls general from the bloc’s member countries. The gathering served as a platform for direct dialogue and an exchange of views,...

Politics

12 h. ago Hong Kong lawmakers back criminalising of subletting public rental flats

Hong Kong lawmakers have approved the government’s proposal to criminalise the subletting of public rental flats or the use of such properties for business purposes, with the offence to carry a maximum penalty of one year in prison and a HK$500,000 (US$63,700) fine. Lawmakers on Wednesday voted on the Housing (Amendment) Bill, which introduces new offences under the Housing Ordinance to combat serious abuse of public flats. Secretary for Housing Winnie Ho Wing-yin stressed that the amended law...

Society

13 h. ago Debt crunch at NWD stokes downside risk in Hong Kong home prices, S&P says

The liquidity crunch at New World Development (NWD), one of Hong Kong’s biggest developers, is a blemish on the resurgent housing market, threatening to shake confidence among homebuyers and trigger a “downside scenario” in home prices, according to S&P Global Ratings. The developer deferred coupon payments on four series of perpetual bonds after months of speculation about its finances, sending a poor signal to creditors about its default risk. It surprised investors last month by not redeeming...

Economics

13 h. ago Hong Kong Red Cross tightens blood donor rules for recent inmates

The Hong Kong Red Cross has banned anyone who has been locked up for 72 hours or more in the past 12 months from donating blood for a year, citing the risk of infections such as hepatitis C and HIV. The Hong Kong Red Cross Blood Transfusion Service said on Wednesday the guidelines had been revised based on suggestions made by the internationally recognised certification bodies that conducted a review of the centre last year. A spokeswoman for the service, which is operated by the Hospital...

Events

14 h. ago China ‘respects Panama Canal neutrality’ as CK Hutchison ports deal looms

China’s foreign ministry has said it respects Panama’s sovereignty and recognises its canal as a neutral international waterway, after the head of the strategic channel warned that the CK Hutchison ports deal could jeopardise its impartiality. Panama Canal Authority administrator Ricaurte Vasquez said in an interview published on Tuesday that the US$23 billion deal between CK Hutchison Holdings and a consortium led by BlackRock and MSC could result in a concentration of operators that would be...

Politics

14 h. ago China ‘respects Panama Canal neutrality’ amid warning over CK Hutchison deal

China’s foreign ministry has said it respects Panama’s sovereignty and recognises its canal as a neutral international waterway, after the head of the strategic channel warned that the CK Hutchison ports deal could jeopardise its impartiality. Panama Canal Authority administrator Ricaurte Vasquez said in an interview published on Tuesday that CK Hutchison Holdings’ US$23 billion deal to sell its overseas ports to a consortium led by US investment giant BlackRock and shipping firm MSC could...

Events

15 h. ago ‘Panda fever’ created 19% attendance boost at Hong Kong’s Ocean Park: official

“Panda fever” has translated into a significant boost in business for Hong Kong’s Ocean Park, with the debut of several new bears leading to a 19 per cent surge in attendance year on year since their debut, according to the city’s tourism minister. Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui also said in a written reply on Wednesday to lawmakers’ questions that an additional HK$121 million (US$15.4 million) had been secured from the Hong Kong Jockey Club Charities Trust to...

Politics

15 h. ago Hong Kong policeman gets community service order for defrauding credit union

A Hong Kong policeman has been sentenced to 220 hours of community service for defrauding the force’s credit union to secure HK$280,000 (US$35,675) in loans. Traffic officer Shum Sze-long, 45, returned to Fanling Court on Wednesday to receive sentencing for one count of fraud and another of attempted fraud for providing inaccurate and incomplete information to the Hong Kong Police Credit Union during two loan applications. The now-suspended officer, who pleaded guilty last month, understated his...

Events

16 h. ago Hong Kong environment chief rejects relaxed quarantine rules for imported pets

Hong Kong’s environment chief has ruled out flexible quarantine arrangements, including at home, for imported cats and dogs, but will consider extending hours and increasing the number of checkpoints for pet transport from mainland China. Secretary for Environment and Ecology Tse Chin-wan told a Legislative Council meeting on Wednesday that existing quarantine facilities are sufficient for imported pets, adding that the government would not consider altering the quarantine method for now due to...

Politics

16 h. ago Hong Kong shouldn’t let lack of space hold up Guangdong driver scheme: minister

Hong Kong should not be held back by a lack of land or parking spaces in pushing ahead with a plan to let Guangdong province residents drive to the city, the transport minister has said, as she reiterated that the scheme would be rolled out with strict controls. Secretary for Transport and Logistics Mable Chan told lawmakers on Wednesday that the government was working with mainland Chinese authorities to implement the scheme and had ruled out the need to establish separate restricted zones or...

Politics

16 h. ago Beijing slams Washington for supporting jailed Hong Kong activist Joshua Wong

China’s foreign ministry arm in Hong Kong on Wednesday voiced its disapproval of the United States’ “blatant support” of jailed activist Joshua Wong Chi-fung, while accusing Washington of smearing police’s enforcement actions. Last Friday, Hong Kong national security police levelled a fresh charge against Joshua Wong Chi-fung, accusing him of conspiring with fugitive ex-lawmaker Nathan Law Kwun-chung to collude with foreign forces five years ago. A US Department of State spokesman strongly...

Events

17 h. ago Hong Kong’s top court dismisses domestic helper’s forced labour challenge

Hong Kong’s top court has dismissed a judicial review of a foreign domestic helper who argued police had failed to properly investigate her complaint against her employer due to the absence of specific legislation against forced labour. The Court of Final Appeal on Wednesday, in upholding a ruling last year by the Court of Appeal, found that the city’s lack of bespoke legislation for forced labour was not necessary to provide “practical and effective” protection of the Filipina helper’s...

Events

17 h. ago Hong Kong student spared jail for faking exam results via beauty app Meitu

A Hong Kong student has been spared prison time over her attempt to secure a university placement with bogus entrance exam results edited by Chinese beauty filter app Meitu, with the presiding magistrate accepting the crime was a lapse in judgment. Ng Tsz-ying, 22, was sentenced to a 12-month probation order at Fanling Court on Wednesday for submitting a fake copy of her certificate in the Diploma of Secondary Education examination to the Education University of Hong Kong last year. Last month,...

Events

17 h. ago How Hong Kong’s pilot disease scheme can help save HK$2.7 billion in expenses

An ongoing pilot scheme for chronic disease screening could help save HK$2.7 billion (US$344 million) in medical expenses if 200,000 people join, Hong Kong authorities have said, with hepatitis B set to be included later. The Health Bureau said on Tuesday that the project would turn into a co-care “platform” and cover more diseases after the end of the three-year pilot arrangement. The Chronic Disease Co-Care Pilot Scheme was launched in November 2023. According to a paper submitted by the...

Economics

18 h. ago Hong Kong court jails couple for life over abuse, murder of newborn son

A couple has been jailed for life in Hong Kong over what a judge called the “completely disgraceful” abuse and murder of their newborn son six years ago. The High Court on Wednesday sentenced Hong Kong residents Imran Hossain, 32, and Farzana Akter, 29, over the father and mother’s mistreatment and killing of their seven-week-old baby, Iyman Hossain, in 2019. A day earlier, a seven-member jury returned a unanimous verdict to convict the pair of murder and child cruelty in a case that hinged on...

Events