3 d. ago Hong Kong taps Value Partners, 9 others to manage US$385 million residency fund

Hong Kong Investment Corp (HKIC), the government’s investment arm, on Tuesday appointed 10 asset managers spanning venture capital, private equity, private credit and hedge funds to oversee at least HK$3 billion (US$385 million) under its enhanced cash-for-residency scheme. HKIC said in a statement that the new batch of managers for the investment portfolio under the New Capital Investment Entrant Scheme (New CIES) included Hong Kong-headquartered Value Partners, one of Asia’s largest asset...

Economics

2 w. ago Black particles found in water at Hong Kong private estate, fifth case this year

Hong Kong authorities have launched an investigation after black particles, suspected to be bitumen, were reported in the drinking water of a private residential estate in Quarry Bay, the fifth such case this year. The Water Supplies Department said on Sunday that it had followed up on complaints about polluted drinking water at Taikoo Shing residential development in Quarry Bay, and collected water samples for laboratory testing. “Results are pending. Based on past experience, the black...

Politics

2 w. ago Black particles in tap water at Hong Kong’s Taikoo Shing, fifth case this year

Hong Kong authorities have launched an investigation after black particles, suspected to be bitumen, were reported in the drinking water of a private residential estate in Quarry Bay, the fifth such case this year. The Water Supplies Department said on Sunday that it had followed up on complaints about polluted drinking water at Taikoo Shing residential development in Quarry Bay, and collected samples for laboratory testing. “Results are pending. Based on past experience, the black particles are...

Politics

2 w. ago Hong Kong’s allure for rich families rises amid mainland China’s EV, AI growth

Many wealthy families in Asia, the Middle East and Europe are exploring Hong Kong as a platform to tap growing investment opportunities in electric vehicles (EVs), artificial intelligence, biotech and even property in mainland China, according to a Swiss family office investment firm. “Hong Kong is the gateway to China, which makes it very efficient doing business here,” said Marcus Sasse, co-founder and managing partner of Club Estate, in an exclusive interview. He added that the firm had...

Politics

3 w. ago Heidi sets sights on Hong Kong to expand North Asia healthcare footprint

Australian healthcare start-up Heidi plans to open its first North Asia office in Hong Kong this year, aiming to tap opportunities created by the city’s acute doctor shortage and ageing population through its proprietary artificial intelligence platform. Heidi co-founder and CEO Thomas Kelly said Hong Kong would serve as “an important market for us to unlock North Asia”. “We think of China more broadly, but also surrounding countries in the region,” he said. “It will be one of our main areas of...

Politics

3 w. ago Australian biotech firm Heidi joins overseas peers in setting up Hong Kong base

Australian healthcare start-up Heidi plans to open its first North Asia office in Hong Kong this year, aiming to tap opportunities created by the city’s acute doctor shortage and ageing population through its proprietary artificial intelligence platform. Heidi co-founder and CEO Thomas Kelly said Hong Kong would serve as “an important market for us to unlock North Asia”. “We think of China more broadly, but also surrounding countries in the region,” he said. “It will be one of our main areas of...

Politics

3 w. ago Hong Kong to answer Xi Jinping’s call for Greater Bay Area tech ties: Paul Chan

Hong Kong will heed President Xi Jinping’s call to forge closer ties with the Greater Bay Area to pursue technological innovations, the finance chief has said, noting the number of start-ups in the city increased by 40 per cent between 2020 and 2024. Financial Secretary Paul Chan Mo-po also vowed on Sunday to help bay area cities tap into international markets by leveraging Hong Kong’s dual roles for “going global and attracting foreign investment”. He cited President Xi’s remarks during a...

Politics

3 w. ago Hong Kong to tap new markets amid easing tariff war, confident of export growth

Hong Kong is seeking to expand its trade networks by tapping into new markets in Latin America, Africa and Central Asia amid the easing of the US tariff war, the minister has said, expressing confidence that export growth will continue due to stronger ties with Southeast Asia. Secretary for Commerce and Economic Development Algernon Yau Ying-wah said Hong Kong needed to diversify its exports following last month’s breakthrough in Sino-US trade talks when Chinese President Xi Jinping and his US...

Economics