16 h. ago Hong Kong tech and telecoms giants unite to combat online fraud

Hong Kong’s major social media, messaging platform providers and telecoms firms have pledged to strengthen checks on advertisers’ identities and remove fraudulent advertisements embedded with phishing links. Seven social media or messaging platforms and six telecommunications companies have joined the Hong Kong Monetary Authority’s (HKMA) Anti-scam Consumer Protection Charter 3.0. The initiative commits them to proactively detecting fraud on their platforms and networks, as well as cooperating...

Politics

23 h. ago Hong Kong firms invest in AI proficiency despite training budget cuts: survey

Hong Kong firms cut budgets for employee training amid economic uncertainties last year, but training hours increased in an effort to boost staff proficiency in new artificial intelligence tools. The findings were announced on Wednesday by the Hong Kong Institute of Human Resource Management, based on a survey of 115 local companies and organisations across 17 industries. The survey, conducted between January and April, aimed to understand the staff training needs of Hong Kong employers last...

Economics

3 d. ago Hong Kong’s Link Asset Management cuts jobs amid retail headwinds

Hong Kong-based Link Asset Management has said it was “streamlining a small number of roles and positions” as part of an efficiency drive in response to a “challenging operating environment” amid reports that the firm was conducting lay-offs. Economists said the move by the firm, which owns 150 properties in Hong Kong, mainland China and other countries, could reduce costs and maintain profits amid the sluggish retail sector performance in the city. Link told the Post that its approach remained...

Politics

5 d. ago Hong Kong’s redomiciliation push lures global firms from tax havens

Christopher Hui Ching-yu has recently been on a world tour, conducting roadshows in Canada, the UK and Norway, in an effort to urge global businesses to redomicile in Hong Kong. The main talking point for Hui, the Secretary for Financial Services and the Treasury, has been a new law, enacted in May, that sought to make it easier for overseas companies to reincorporate in the city. Just a few days after the law came into force, Hui flew to Canada to meet senior executives from insurers Manulife...

Economics

6 d. ago Hong Kong water taxis, harbour cruise firm cash in on aircraft carrier’s visit

Some water transport operators are cashing in on the high-profile visit of the Chinese aircraft carrier Shandong and its strike fleet to Hong Kong by ferrying visitors for a better look, although marine police have stopped their vessels from getting close. Hong Kong Water Taxi, owned by the Oriental Pearl Cruise Company, organised special sightseeing tours for visitors to get a closer look on Thursday afternoon, and demand was so strong that it was adding more trips on Friday. Another firm,...

Economics

7 d. ago PwC’s China Woes Hit Hong Kong Legal Affiliate, Partners Depart, Firm to Rebrand

PwC’s China Woes Hit Hong Kong Legal Affiliate, Partners Depart, Firm to Rebrand  Law.com

Economics

7 d. ago Mainland digital yuan partner signs deal to develop stablecoin tech in Hong Kong

A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to...

Politics

7 d. ago Mainland Chinese digital yuan partner to develop stablecoin tech in Hong Kong

A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to...

Politics

7 d. ago Chinese firms eye Hong Kong listings after mainland investors’ buying spree

A slew of mainland-listed Chinese technology companies are speeding up fundraising plans in Hong Kong to capitalise on the upbeat market sentiment. Hong Kong’s equity market has been buoyed by mainland investors’ record buying of HK$731.2 billion (US$93.1 billion) of stocks in the first half of the year, according to Hong Kong Exchanges and Clearing (HKEX) data and Bloomberg on Monday. The buying spree, driven by attractive valuations and a re-rating of China’s technology sector, has led to a...

Economics

9 d. ago PwC Names Batch of New Hong Kong, China Partners to Revive Firm

PwC Names Batch of New Hong Kong, China Partners to Revive Firm  Bloomberg.com

Politics

1 week ago Hong Kong developers urged to link up with mainland firms on border project

Hong Kong’s development minister has suggested that local developers join hands with their mainland Chinese counterparts to take part in the Northern Metropolis border town megaproject using a new approach. Secretary for Development Bernadette Linn Hon-ho said on Saturday that the government was studying proposals submitted by various developers and aimed to put one or two large land parcels in the Northern Metropolis project up for tender in the second half of the year. Linn stressed that the...

Politics

1 week ago Hong Kong exports up 15.5% in May as firms race to beat China

Hong Kong’s exports surged 15.5 per cent in May from a year ago, with economists attributing the increase to the front-loading of shipments by businesses racing to beat the July deadline of a tariff truce between China and the United States. The value of total exports reached HK$434.1 billion (US$55.3 billion) in May, the Census and Statistics Department said on Thursday. The strong performance, which followed a 14.7 per cent increase in April, comes during a 90-day grace period on tariffs...

Politics

1 week ago China AI chip firm Biren raises new funds, plans Hong Kong IPO, say sources

China AI chip firm Biren raises new funds, plans Hong Kong IPO, say sources  Reuters

Economics

2 w. ago As business outlook improves, is China retaining more of its wealthy elite?

The number of wealthy mainland Chinese choosing to emigrate is projected to drop to a 10-year low this year thanks to the country’s improved business environment and its growing appeal to tech entrepreneurs, according to a report by a London-based advisory firm. Henley & Partners’ annual wealth migration report also said that Hong Kong is starting to see steady inflows of millionaire migrants from the rest of Asia, with an anticipated net inflow of 800 this year, including many executives from...

Economics

2 w. ago Hong Kong security firm’s coming closure ‘not a warning sign for industry’

The impending closure of one of Hong Kong’s leading security firms does not sound the alarm about a wave of industry shutdowns, trade representatives have said, while staff shortages remain a challenge for businesses. Johnny Ho Kai-man, chairman of the Chamber of Security Industry, told the Post that the closure of CNT Security Company could be described as a “glorious winding up”. Ho said the company was respected in the industry and that it did its due diligence by laying out a road map for...

Events

2 w. ago 2,000 jobs at risk as leading Hong Kong security firm confirms impending closure

A leading security firm in Hong Kong chaired by a retired senior police officer will cease operations before next April, with more than 2,000 employees expected to be laid off. CNT Security Company attributed the decision to a recent board resolution. The news emerged after the company informed the landlords of Allway Gardens, a residential estate in Tsuen Wan, that their request to extend its contract until December this year could not be fulfilled. The letter, dated June 20, was signed by the...

Events

2 w. ago Hong Kong housing authorities cancel contracts with firm linked to 5 site deaths

Hong Kong housing authorities have terminated three public estate contracts with a construction company linked to five workplace deaths in three accidents, despite the court suspending a ban on its operating licence. The move means all six projects managed by Aggressive Construction Company have been taken over despite the suspension order. The Housing Authority said on Monday that the contractor’s performance on three public housing estates was “far below” contract requirements. A spokesman...

Events

2 w. ago Hong Kong’s Northern Metropolis can benefit from EU firms’ expertise: John Lee

Hong Kong’s leader has called for more cooperation with European businesses on the Northern Metropolis, a key initiative aimed at driving future growth and sustainability for the city, a day after a top Beijing official urged expediting the megaproject. Chief Executive John Lee Ka-chiu said during his opening remarks at the sustainability event Greenway 2025 on Monday that Hong Kong and the EU could work together to find new solutions to climate change. “I look forward to the expertise and...

Politics

2 w. ago Hong Kong Web3 group issues blueprint for accelerating blockchain development

In a call to action for greater investment to accelerate the development of blockchain infrastructure, industry group Web3 Harbour and accounting firm PwC Hong Kong released the “Hong Kong Web3 Blueprint” on Monday, capitalising on recent momentum in the city. Highlighting the “transparency, security, and user empowerment” of decentralisation, the blueprint seeks to leverage what it calls “Web3 superpowers” through the development of “five key enablers”: talent, market infrastructure, standards,...

Politics

2 w. ago How Hong Kong firms are weeding out ‘perfect’ job candidates in age of AI

The popularity of artificial intelligence (AI) tools has created so many “perfect” job applicants that companies in Hong Kong are choosing more in-person interviews and stepping up scrutiny of potential hires, a leading recruitment consultancy has said. Faye Walshe, global director of innovation and AI at Robert Walters, said its clients were shifting to physical face-to-face interviews to screen candidates, given the rise of AI tools that jobseekers could use. Citing her interactions with the...

Politics