53 h. ago Hong Kong’s gig economy workers want industry regulated. Can city deliver?

Hong Kong food delivery rider John Lam* cannot afford to make a single mistake while working. The 40-year-old takes extreme care while delivering orders on his motorcycle, knowing that if he has a work-related accident he will receive few employment benefits and minimal compensation. “I understand that being highly responsive to my phone can lead to more orders. But for safety reasons, I only handle my phone when my vehicle has completely stopped,” said Lam, who delivers food for the city’s two...

Economics

3 d. ago Hong Kong exhibition opens to mark fifth anniversary of national security law

An exhibition commemorating the fifth anniversary of the Beijing-imposed national security law has opened in Hong Kong, featuring video footage and images from three major social movements, with city officials urging residents to remain vigilant against threats. At the opening ceremony of the government-organised event on Thursday, Secretary for Security Chris Tang Ping-keung noted that as of June 1, 326 people had been arrested under relevant national security laws, including the legislation...

Events

3 d. 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

5 d. ago Hong Kong moves to curb ‘abuse’ of traffic accident compensation

Lawmakers have supported the Hong Kong government’s proposal to significantly reduce the number of compensated sick leave days and daily subsidy available to traffic accident victims, claiming that the move will help prevent future abuses of the system. The legislative panel’s discussion on Monday primarily focused on reviewing the Traffic Accident Victims Assistance Scheme. Administered by the Social Welfare Department, the fund provides financial aid to victims of road traffic accidents or...

Events

7 d. ago Social media giant RedNote opens Hong Kong office, its first outside mainland

Chinese social media giant RedNote has opened an office in Hong Kong, its first outside mainland China, a move the city’s finance chief hopes will provide a boost to local businesses and the platform’s international expansion. Financial Secretary Paul Chan Mo-po said on Saturday that he had personally invited the company, also known as Xiaohongshu, to set up a base in the city. “When I visited Shanghai at the end of last year, I made a special visit to Xiaohongshu’s headquarters,” Chan wrote on...

Politics

1 week ago With Hong Kong’s stablecoin law, mainland firms are preparing for a market boom

Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin bill in the two weeks since it was passed, paving the way for the issuance of such assets in the city, discussions about the market and geopolitical...

Economics

1 week ago Hong Kong principals slam popular schools’ class expansion without consultation

Principals in Hong Kong have criticised education authorities for failing to consult the sector regarding a new measure that permits popular schools to apply to operate an additional Form One class in the next academic year, raising concerns that the move will intensify competition among institutions. The Hong Kong Association of the Heads of Secondary Schools also questioned the timeliness and necessity of implementing the policy change amid the city’s declining student population. The...

Politics

2 w. ago Hong Kong ‘silver economy’ moves to boost spending by ‘5% annually over 3 years’

Elderly Hongkongers are expected to spend 5 per cent more annually over the next three years under wide-ranging “silver economy” measures to spur consumption, a senior official has said when asked about a lack of targets for the policy. Deputy Chief Secretary Warner Cheuk Wing-hing, who is leading a new task force dedicated to tapping the silver economy, also said on Saturday that the government would conduct a study to analyse the spending habits and demands of various age groups among the...

Economics

2 w. ago Hong Kong hits a high with global legal body, but now comes the hard part

Hong Kong made a groundbreaking move on Friday when it became the headquarters for a new intergovernmental mediation body but the unit’s real tests will be in the types of substantive cases it handles and whether more countries will join the convention, experts have said. While the China-led International Organisation for Mediation launched on Friday with 33 signatories, and the conspicuous absence of major Western countries, leading lawyers said they expected more nations would join once the...

Events

2 w. ago In picking Hong Kong over New York, CATL’s IPO was a strategic move

CATL’s geopolitical moves, from spurning Wall Street to partnering Indonesia’s green transition, speak volumes about the future of competition.

Politics

3 w. ago Hong Kong journalist group slams ‘tax review on 20 reporters, groups’

Hong Kong Journalists Association says Inland Revenue Department’s moves have placed extra stress on the reporters and media groups.

Politics