60 h. ago Blink and you’re in. Macau launching iris scan immigration for Hongkongers this week

Hongkongers travelling to Macau can speed up immigration clearance using an eye scan starting this week. Authorities in the gaming hub said on Monday eligibility for its iris recognition immigration clearance had been extended to Hong Kong permanent residents who had registered for its automated passenger clearance service. Eligible Hongkongers can begin using the service from noon on Wednesday. Eighty-one iris recognition channels have been installed at six Macau border checkpoints: the Border...

Politics

4 d. ago Hong Kong’s easier redomiciling policy ‘attracts 150 inquiries from companies’

Authorities have received about 150 inquiries from companies about transferring their legal domicile status to Hong Kong after the recent passage of a law making it easier for businesses to establish themselves in the city, the treasury minister has said. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Saturday that about 180 family offices had been set up or expanded their operations in Hong Kong this year, putting the city on track to surpass its...

Events

1 week ago Passenger arrested in Hong Kong for alleged theft on flight from Indonesia

Hong Kong police have arrested a passenger for allegedly stealing cash and jewellery from two backpacks on a flight from Indonesia, as authorities continue their efforts to combat a persistent rise in cabin-related crimes. Airport police said on Saturday that two passengers the previous day had reported that cash and jewellery had gone missing from backpacks stored in overhead compartments. Authorities said a 35-year-old mainland Chinese man was arrested on suspicion of theft following...

Events

2 w. ago Hong Kong’s crypto industry optimistic about stablecoin ‘legal clarity’

In the days after Hong Kong passed a bill to regulate stablecoins on May 21, people in the industry celebrated the government’s forward-looking stance on the cryptocurrency assets, but its stringent requirements – similar to how it regulated other virtual assets – could be a double-edged sword in the near term. “Regular independent audits and strict disclosure obligations further bolster confidence in the sector, although in the short run it may increase operational costs and limit market entry,...

Politics

2 w. ago Hong Kong to earn extra HK$104 million yearly from visa, passport fee rises

Hong Kong authorities have proposed raising application fees for a raft of visas and identity documents to generate an additional HK$104 million (US$13.3 million) in income annually, with a 48-page passport to cost as much as HK$520. The Security Bureau revealed its proposal to increase fees for 28 services in a document submitted to the legislature on Monday, with rates projected to rise by between 3 and 51 per cent and take effect in September. Last revised in 2000, the fee for issuing a...

Economics

2 w. ago What to know about stablecoins after Hong Kong passes law to regulate the popular tokens

Five key questions about the stablecoin cryptocurrency token are answered.

Politics

2 w. ago What to know about stablecoins in light of new Hong Kong regulation

The cryptocurrency industry has continued to advance, with bitcoin prices hitting a record high earlier this week. Stablecoins have come under the spotlight as regulators in Hong Kong and the US push for legislation for the popular tokens. Here we answer five common questions about stablecoins. What are stablecoins and how are they used? Stablecoins are a type of cryptocurrency token that maintain a fixed value by being pegged to a reference asset, typically fiat currencies such as the US...

Politics

3 w. ago Hong Kong passes stablecoin law, clearing way for licensed issuers to sell to public

Law sets up a ‘risk-based, pragmatic, and flexible regulatory regime’ with public protection in mind, head of city’s monetary authority says.

Politics

3 w. ago Hong Kong passes stablecoin law, clearing way for sales to public

Hong Kong lawmakers passed a law on Wednesday that establishes a regulatory regime for stablecoins, paving the way for issuers to obtain licences and sell the digital assets to the public. A stablecoin is a type of cryptocurrency that is pegged to a specific reserve asset, such as the US dollar or any fiat currency. The Stablecoins Bill passed by the Legislative Council, which will take effect later this year, requires stablecoin issuers in the city to obtain a licence from the Hong Kong...

Politics

3 w. ago ‘Opportunity I could not let pass’: Hong Kong expats embrace life in Qatar

Despite facing cultural adjustments, Hongkongers are discovering unexpected benefits of relocating to Islamic country.

Politics