65 m. ago Hong Kong is vital link to world, where China anchors its trust, John Lee says

Hong Kong is a vital link that the world can rely on for security and development under the shifting geopolitical landscape as it connects the globe with China’s growth certainty and investible stability, the city leader has said. “Hong Kong is the ‘superconnector’ and ‘super value-adder’ that links the world with opportunities from China’s growth certainties. A link you can always bank on,” Chief Executive John Lee Ka-chiu said in a keynote speech at the South China Morning Post’s China...

Politics

3 h. ago Does Hong Kong’s loan shark law proposal lack bite needed to tame debt collectors?

A proposal to tighten regulations over Hong Kong’s notorious loan sharks is too narrowly focused and will not tackle the root problem of unruly debt collectors, according to lawmakers and legal experts. The legislators and specialists criticised the Financial Services and the Treasury Bureau’s plan to set a cap on borrowing activity for low-income earners and impose stricter rules for loan “referees”, saying it failed to tackle the shadowy network of intermediaries who enabled predatory...

Politics

4 h. ago Death threats and harassment: Hong Kong couple’s ordeal with loan sharks

When his health supplement business struggled with cash-flow problems, Bobby Tan* turned to a so-called professional networking group in Hong Kong for help, borrowing HK$300,000 (US$38,220) from a licensed small lender in April last year. Over the next 10 months, the Hong Kong permanent resident from Southeast Asia continued to take on more debt, borrowing from 30 different licensed moneylenders for a total of HK$5.05 million. Each lender charged him an illicit upfront “commission” of 15 to 30...

Events

4 h. ago HSBC, Manulife, BOC Life expand offerings for Hong Kong retirees

HSBC, Manulife and BOC Life are among the financial firms courting retirees with new investment products that offer regular income streams amid a broader government-led initiative to capture opportunities in the so-called silver economy. The city’s biggest lender, HSBC, last week launched five retirement-solution funds, which offer a non-guaranteed target dividend payout rate of 6 per cent a year. More retirement-focused funds would be added to the suite in the second half of 2025, the bank...

Politics

5 h. ago Hong Kong economy’s ‘mixed signals’ portend retail ‘turbulence’, analysts say

Hong Kong’s retail industry will experience mixed fortunes in coming months, as rising unemployment threatens to dent consumer spending even as the economy and household incomes improve and tourist numbers surge, according to CBRE. “Right now, there is positive news and negative news in the market,” said Lawrence Wan, senior director and head of advisory and transaction services for retail at property consultancy CBRE Hong Kong. “Shops keep on closing down, but at the same time we see there is a...

Politics

12 h. ago Surge in Hongkongers visiting Japan expected after manga ‘megaquake’ fears fade

Hongkongers’ enthusiasm for visiting Japan is expected to rebound “explosively” in the coming days and months after fears of a “megaquake” predicted in a manga proved unfounded, an industry leader has said. Steve Huen Kwok-chuen, executive director of EGL Tours, said on Monday that rumours of a July 5 earthquake had earlier caused significant concern among some Hongkongers. Many residents had shelved trips to Japan, leading to a sharp decline in tour group bookings. He said his agency normally...

Politics

13 h. ago University of Hong Kong plans to cut size of development site after backlash

The University of Hong Kong (HKU) plans to reduce the size of a development project by 15 per cent following a public backlash, leaving most of a Pok Fu Lam green belt untouched, the Post has learned. A source said on Monday that the university was considering building on a residential plot nearby. The revised proposal for HKU’s Global Innovation Centre will be discussed at a town planning board meeting on Friday, after the university gathers feedback from the community. HKU originally planned...

Politics

14 h. ago 4,200 transitional flats earmarked for Hong Kong’s displaced subdivided tenants

Hong Kong authorities have said around 4,200 transitional flats can cope with the temporary accommodation needs for tenants displaced under a future regulation that could force 33,000 subpar subdivided homes to undergo significant rectification. Under Secretary for Housing Victor Tai Sheung-shing told the legislature on Monday that the government would set aside up to 20 per cent of its 21,000 transitional homes for tenants affected by a subdivided flat regulation. The regulation will only allow...

Politics

14 h. ago 4,200 temporary homes earmarked for displaced Hong Kong subdivided flat tenants

Around 4,200 transitional homes will be sufficient to meet the temporary housing needs of tenants displaced under new rules that could require 33,000 subpar subdivided flats to undergo major renovations, Hong Kong officials have said. Undersecretary for Housing Victor Tai Sheung-shing told lawmakers on Monday that the government would set aside up to 20 per cent of its 21,000 transitional homes for tenants affected by coming subdivided flat regulations. Under the regulations, only subdivided...

Politics

15 h. ago Hong Kong lawmakers call for facial recognition system at upgraded land crossing

Hong Kong legislators have called for facial recognition technology to be adopted at the upgraded Huanggang land crossing while giving an initial green light to a HK$1.75 billion government proposal to site border clearance facilities in the complex. At a meeting of the Legislative Council’s security panel on Monday, some lawmakers also expressed concern that the expanded Huanggang checkpoint, which was designed to handle 200,000 passengers and 15,000 vehicles every day between Hong Kong and...

Politics

16 h. ago Hong Kong children in cramped flats have poorer mental health: survey

Hong Kong children who feel they lack study and play areas at home have poorer mental health and academic results, a poll has found. Survey results published on Monday also showed that about 40 per cent of children living in subdivided flats said they did not have enough of the spaces at home, a rate that was higher than those in other types of housing. Hong Kong Metropolitan University and the Society for Community Organisation (SoCO) jointly conducted the poll. “We hope to look into what...

Politics

16 h. ago Record high 74% of Hong Kong pupils assigned to first choice secondary school

A record high of 74 per cent of Primary Six pupils in Hong Kong were assigned to their preferred secondary school in the central allocation system, with the sector attributing the 12 percentage point increase to the shrinking pupil numbers. This year marks the highest successful allocation rate since the revamped system was implemented in 2007. It coincides with a notable decline in the number of pupils taking part in the secondary school places allocation system, which has reached an eight-year...

Politics

17 h. ago Hong Kong prisons will offer proof if seeking to ban specific lawyers: Chris Tang

Hong Kong’s security chief has said authorities will provide sufficient evidence and “intelligence” to support any move to restrict specific lawyers from visiting inmates, in response to a lawmaker who called such a measure under proposed prison rule changes “ridiculous”. Secretary for Security Chris Tang Ping-keung told a security panel meeting on Monday that a magistrate would need to be satisfied with the government’s submissions to grant a court warrant to restrict legal visits. He added...

Events

18 h. ago Star IB students from Hong Kong’s ESF school group share tips for success

Fifteen students from Hong Kong’s largest international school group who achieved high scores in the International Baccalaureate (IB) programme have shared their aspirations and preparation insights, with 11 planning to study medicine in the city. Another five students from the German Swiss International School on The Peak achieved top marks in the IB programme, on a par with Victoria Shanghai Academy, bringing the number of top scorers in the city to 37. The English Schools Foundation (ESF),...

Politics

19 h. ago Hong Kong’s equity market revival helps lift property sector sentiment

Is the tide turning for Hong Kong’s ailing property market? When second-hand home prices are down almost 30 per cent from their peak in August 2021 and rents for grade A offices are more than 40 per cent lower than in the second quarter of 2019, talk of a recovery seems wildly premature. But expectations, sentiment and the prism through which the performance and outlook for the sector are viewed are important. Since the beginning of this year, the mood in Hong Kong has improved markedly. Much of...

Politics

19 h. ago Hong Kong property market’s sources of resilience finally getting noticed

Is the tide turning for Hong Kong’s ailing property market? When second-hand home prices are down almost 30 per cent from their peak in August 2021 and rents for grade A offices are more than 40 per cent lower than in the second quarter of 2019, talk of a recovery seems wildly premature. But expectations, sentiment and the prism through which the performance and outlook for the sector are viewed are important. Since the beginning of this year, the mood in Hong Kong has improved markedly. Much of...

Politics

19 h. ago ‘Scripting error’ at Hong Kong’s HK Express allowed customer to access private data

HK Express, the budget carrier of Hong Kong’s Cathay Pacific Airways, mistakenly directed a customer to log into another’s account due to a “scripting error”, enabling him to access the other person’s personal information including birth date, according to investigations by the privacy watchdog. That case and seven others revealed on Monday by the Office of the Privacy Commissioner for Personal Data included one involving CJ Plus Insurance, which sent documents printed on recycled paper that...

Economics

20 h. ago Football fever grips Hong Kong as Cristiano Ronaldo museum officially opens

Dozens waited in line for hours before the opening of the Hong Kong CR7 Life Museum, an exhibition celebrating football superstar Cristiano Ronaldo’s life, featuring prized items such as one of his five Ballon d’Or awards. Organisers announced on Monday that Ronaldo would be visiting Hong Kong “very soon” for the newly opened museum, but they remained tight-lipped about a specific date for his arrival. On the exhibit’s opening day, the Post observed about 50 people lining up at the K11 Musea...

Politics

21 h. ago Retail rents in Hong Kong under pressure after vacancy rate hits 4½

Retail rents in Hong Kong are expected to remain under pressure, as the trend of residents travelling to the mainland for leisure has led many businesses to opt for short-term leases, experts have said after the vacancy rate in the city’s busiest districts hit a 4½-year high. Analysts on Monday also attributed the mounting vacancies to shifting consumer preferences and the difficulty landlords faced in securing high-value tenants once luxury goods shops, such as watch and jewellery stores, had...

Events

22 h. ago Cyclist injured after Hong Kong tour bus crashes into road dividers

A cyclist has been injured after a tour bus lost control and hit road divider fences in Hong Kong’s Sha Tin. According to police, the cyclist reported the traffic accident at the junction of Fo Tan Road and Tai Chung Kiu Road at around 6.08am on Monday. The 48-year-old sustained injuries to his face and hands and was sent to a nearby hospital, while the bus driver, 63, was unharmed. A dashcam video circulating online showed that the bus was turning right onto Fo Tan Road from Tai Chung Kiu Road....

Events