5 h. ago Economist Huang Yiping floats Hong Kong as stablecoin staging ground

Issuing a stablecoin pegged to the offshore yuan in Hong Kong may be more feasible than in mainland China due to the latter’s capital controls, a central bank adviser has said. The comments from Huang Yiping, also dean of Peking University’s National School of Development, came as worries arise in Beijing’s policy circles that Washington could gain an upper hand through the cryptocurrency offshoot as a means of consolidating US dollar dominance. “As China’s capital account is not fully...

Politics

8 h. ago Hong Kong may issue T1 warning on Friday as potential cyclone develops

Hong Kong Observatory will consider issuing a T1 typhoon warning signal on Friday and Saturday, urging the public to stay away from the shoreline and refrain from water sports. The forecaster on Thursday said the area of low pressure to the north of Luzon would develop into a tropical cyclone in the coming few days and come within 800km (497 miles) of Hong Kong. It said the cyclone would remain near the northeastern part of the South China Sea and intensify. “Depending on its development and...

Events

8 h. ago Hong Kong could issue T1 warning on Friday, as potential cyclone develops

Hong Kong Observatory will consider issuing a No 1 typhoon warning on Friday and Saturday, with the forecaster urging the public to stay away from the shoreline and refrain from doing water sports. An area of low pressure to the north of Luzon would develop into a tropical cyclone in the coming few days and come within 800km (497 miles) of Hong Kong, the Observatory said on Thursday. It added that the cyclone would remain near the northeastern part of the South China Sea and...

Events

31 h. ago Potential cyclone to set temperatures soaring in Hong Kong in coming days

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 is set to be hit by inclement weather this week with the city’s observatory forecasting the potential development of a tropical cyclone near Luzon by Thursday. The forecaster also said on Wednesday that temperatures would soar over the next couple of days to a maximum of 33 degrees...

Sport

2 d. ago Hong Kong in ‘critical stage of opening new chapter’, Beijing liaison chief says

Beijing’s new liaison office chief has said Hong Kong is in a “critical stage of opening a new chapter” and should further embrace reforms to broaden its economy in a speech delivered on the eve of the city’s 28th handover anniversary. Zhou Ji also said on Monday evening Hong Kong should “achieve breakthroughs and tackle core issues” to improve development while maintaining a robust “bottom line” of safety to pave the way for further growth. “Hong Kong is in a critical stage of opening a new...

Politics

3 d. ago Hong Kong maintains ban on seafood from 10 Japanese prefectures

Hong Kong has underscored the need for prudence in allowing Japanese seafood imports after Beijing partially lifted its own ban on such products, which had been put in place over concerns about waste water discharged from the decommissioned Fukushima nuclear power plant. In a statement issued in the early hours of Monday, a Hong Kong government spokesman stopped short of saying whether the city would reconsider import restrictions on Japanese seafood, which had been in place since August...

Politics

5 d. ago Dozens left stranded by Hong Kong’s Cathay after flight from New York cancelled

Dozens of angry passengers were left without accommodation after Cathay Pacific Airways cancelled a flight from New York to Hong Kong at the last minute because of a “technical issue”, the Post has learned, and the airline must now submit an investigation report to aviation authorities. The cancellation, which was announced to affected passengers an hour after flight CX843 was scheduled to depart at 1.55am (New York time), left passengers scrambling to find hotels without any offer of support...

Politics

7 d. ago Chinese courier SF to raise US$752 million via Hong Kong shares, bonds

SF Holding, China’s largest courier, announced plans on Thursday to raise more than HK$5.9 billion (US$752 million) through a new share placement on the Hong Kong exchange and the issuance of convertible bonds. Proceeds from the HK$2.9505 billion equity placement and HK$2.95 billion in zero-coupon convertible bonds would be used for the firm’s international and cross-border logistics capabilities, research and development of advanced technologies and digital solutions, capital structure, and...

Economics

7 d. ago Hong Kong Observatory issues amber rainstorm warning on Thursday afternoon

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. The Hong Kong Observatory issued an amber rainstorm warning on Thursday afternoon, two hours after cancelling a No 1 typhoon signal. The forecaster sent out the warning at 5.05pm, soon after it said that heavy showers and thunderstorms were expected to affect the city shortly. After cancelling...

Events

8 d. ago Dining app Eatigo sorry for joke on Hong Kong singer Keung To’s fall into sea

A well-known restaurant reservation platform has issued a public apology after making fun of Hong Kong singer Keung To’s recent fall into the sea in an online post to promote its booking service, sparking calls for a boycott of the app. Eatigo, which offers restaurant bookings with bill discounts in Asia, said sorry on Tuesday night, following the post on social media platform Threads, saying the promotion lacked “proper respect and sensitivity”. The now-deleted post said: “To all Keung To fans,...

Politics

8 d. ago Hong Kong Observatory to issue No 1 typhoon signal at 2.20pm

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 will issue the No 1 typhoon warning signal at 2.20pm on Wednesday, as a low pressure area over South China Sea has intensified into a tropical depression. The Hong Kong Observatory said that unsettled weather would affect the city, with the broad area of low...

Politics

8 d. ago Hong Kong issues No 1 typhoon signal as tropical depression intensifies

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 issued the No 1 typhoon warning signal, as a low pressure area over South China Sea intensifies into a tropical depression. The Hong Kong Observatory raised the signal at 2.20pm on Wednesday, and said that unsettled weather would affect the city. It added...

Politics

1 week 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 Hong Kong issues ‘black’ travel alert for Iran and Israel as conflict escalates

Hongkongers should avoid visiting Iran and Israel because of the “highly unpredictable security situation” in the two warring countries, authorities have warned, raising their outbound travel alert to its highest level. A Security Bureau spokesman said on Thursday that it had upgraded the alert for Israel and Iran to “black”, meaning there was “severe threat” in going to those places and all travel should be avoided. “Due to the highly unpredictable security situation in Israel and Iran, the...

Events

2 w. ago Hong Kong’s first AI system to spot scaffolding issues deployed in local project

Hong Kong’s first artificial intelligence (AI) system to spot loose or tilting scaffolding, built by a developer at a cost of HK$1 million (US$127,390), has been deployed in a local construction project, in the wake of a series of fatal accidents in recent years. Sun Hung Kai Properties said on Thursday that its subsidiary spent the past six months developing a system called TIE.Ai (Tension and Tilting Inspection Engine AI system), which could be applied to bamboo, metal and mixed...

Politics

2 w. ago Amber rainstorm warning issued as heavy showers hit Hong Kong

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 issued an amber rainstorm signal, warning that flash floods may hit some low-lying and poorly drained areas. The Hong Kong Observatory raised the warning at 7.30am on Tuesday, which means heavy rain exceeding 30 millimetres has fallen or is expected to fall...

Events

2 w. ago Hong Kong Observatory cancels amber rainstorm warning after 3 hours

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 cancelled the amber rainstorm signal three hours after issuing it, following warnings that flash floods could hit some low-lying and poorly drained areas. The Hong Kong Observatory raised the warning at 7.30am on Tuesday, which means heavy rain exceeding 30...

Events

2 w. ago Hong Kong’s rainy weather to ease in coming days, Observatory says

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 rainy weather is expected to ease over the next few days with sunny intervals starting to emerge on Wednesday. The Observatory said on Tuesday that conditions would improve gradually over Guangdong province in the next couple of days with an anticyclone aloft strengthening. But it...

Politics

2 w. ago Hong Kong police start issuing digital parking fines, but some drivers puzzled

Hong Kong police have begun issuing electronic fines for parking and traffic offences, with some drivers calling for increased publicity over the measure and a longer transition period. The digital system began operation on Sunday, allowing penalty tickets to be delivered via SMS or email. Drivers can review the fines on a new website and mobile app. The force said printed copies of the tickets would still be used initially as drivers became familiar with the digital initiative. The Transport...

Events

2 w. ago New stablecoin law to enhance Hong Kong’s financial appeal to global issuers: Chan

The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, according to the city’s financial chief as it prepares for its regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the city market value of stablecoins globally was estimated at around US$240 billion, with trading volume exceeding US$20 trillion last...

Politics