6 h. ago Beijing, Hebei projects ‘offer inspiration’ for Hong Kong’s Northern Metropolis

Mainland China’s planning and construction methods for major new areas in Beijing and Hebei province offer valuable reference points for Hong Kong’s development and financing of the Northern Metropolis megaproject, the finance chief has said. Financial Secretary Paul Chan Mo-po, who led a 40-strong government delegation to the two locations, shared his takeaways on Friday as he wrapped up his trip to the Beijing Municipal Administrative Centre and the Xiongan New Area in Hebei over the past...

Politics

6 h. ago Hong Kong’s Paul Chan meets Xia Baolong on trip to Beijing, Hebei projects

Mainland China’s planning and construction methods for major new areas in Beijing and Hebei province offer valuable reference points for Hong Kong’s development and financing of the Northern Metropolis megaproject, the finance chief has said while meeting a top central government official in the capital. Financial Secretary Paul Chan Mo-po, who led a 40-strong government delegation to the two locations, shared his takeaways on Friday as he wrapped up his trip to the Beijing Municipal...

Politics

12 h. ago Hong Kong Disneyland Resort appoints operations veteran Tim Sypko as new head

Hong Kong Disneyland Resort has appointed Tim Sypko as its new president and managing director following the promotion of his predecessor, Michael Moriarty, to a global executive role. Sypko, who has served as senior vice-president of operations for the company over the past five years, will take the helm of Hong Kong Disneyland on November 23. His appointment follows the promotion of Michael Moriarty last week to executive vice-president and chief financial officer of Disney Experiences, after...

Politics

31 h. ago Hong Kong wage growth slows from 3.5% to 2.5% in line with Greater Bay Area trend

Wage growth in Hong Kong has slowed from 3.5 per cent in 2024 to 2.5 per cent this year, mirroring a cooling trend across the Greater Bay Area, with salaries declining significantly after the United States launched a trade war in April, according to a survey. The 2025 Guangdong-Hong Kong-Macau Greater Bay Area Pay and Benefits Survey, released on Thursday, also found the impact of the emigration-led brain drain on the city’s workforce had eased for the first time since 2018. “The impact of...

Politics

34 h. ago Hong Kong Ocean Park ‘not ruling out’ Water World closure to cut losses

Hong Kong Ocean Park does not rule out shutting down its Water World facility to prevent further deficit and will “actively consider” if the government is willing to take over operating rights, its chairman has revealed. Paulo Pong Kin-yee admitted on Thursday that the theme park’s HK$274.7 million (US$31.8 million) deficit over the past year was primarily driven by its water attraction. When asked whether the park would close the facility to balance the books, Pong said the option was not off...

Politics

34 h. ago Hong Kong’s Ocean Park could close Water World to plug losses, boss says

Hong Kong’s Ocean Park could shut down its Water World facility to prevent further losses and would “actively consider” any government offer to take it over, its chairman revealed on Thursday. Paulo Pong Kin-yee said that the theme park’s HK$274.7 million (US$31.8 million) deficit over the past year was primarily driven by its water attraction. Asked whether the park would close the facility to balance the books, Pong said the option was not off the table. “I do not dare completely deny this...

Economics

54 h. ago 37,000 workers imported into Hong Kong since start of labour scheme in 2023

Hong Kong has imported more than 37,000 workers since the government’s introduction of a labour scheme two years ago, while a construction union has announced a wage freeze for most of the major trades in the industry. The Labour and Welfare Bureau on Wednesday revealed that it had received applications to import more than 62,000 workers in the catering and hospitality industries since the Enhanced Supplementary Labour Scheme was launched in 2023. Between September 4, 2023, and September 30 this...

Politics

61 h. ago Pandas give Hong Kong’s Ocean Park boost but deficit worsens to HK$275 million

The fervour for giant pandas and their cubs in Hong Kong brought in more visitors and revenue to Ocean Park, their home, but other expenses ate into its financial health and worsened its deficit last year. The theme park’s deficit widened to HK$274.7 million (US$31.8 million) in the 12 months to June 30 from HK$71.6 million in the same period a year earlier, due to higher expenses such as depreciation, at HK$414 million, according to a document it submitted to the Legislative Council on...

Economics

3 d. ago Hong Kong retains top spot in finance, logistics and tourism in Greater Bay Area

Hong Kong has retained its leading position in three out of six major industries within the Greater Bay Area, according to an index comparing the relative advantages of 11 cities across the southern Chinese region. Shenzhen held onto its top spot in innovation and technology as well as manufacturing, while Guangzhou remained the leader in real estate. The Greater Bay Area Industry Development Index, compiled by Our Hong Kong Foundation and Dah Sing Bank, surveyed 3,400 companies across 11 cities...

Politics

4 d. ago Hong Kong’s social work, construction sectors hit as jobless rate rises to 3.9%

Hong Kong’s jobless rate rose to 3.9 per cent between July and September, with higher unemployment in social work and construction, authorities said. Preliminary data released by the Census and Statistics Department on Monday showed the unemployment rate rose by 0.2 percentage points over the preceding three-month period. This marks the highest rate since the three-month period between July and September 2022, when it was 4 per cent. Unemployment in the food and beverage sector remained...

Society

4 d. ago Hong Kong stocks surge on trade optimism, China economic growth

Hong Kong stocks rallied on Monday, rebounding from Friday’s steepest loss since April as US-China trade tensions showed signs of easing and China’s economic growth exceeded expectations. The Hang Seng Index jumped 2.4 per cent to 25,853.08 as of 11am. The Hang Seng Tech Index surged 3.1 per cent. On the mainland, the CSI 300 Index rose 1.2 per cent and the Shanghai Composite Index added 0.9 per cent. NetEase jumped 5.2 per cent to HK$235.40, insurance giant AIA Group added 4.3 per cent to HK$72...

Economics

5 d. ago US business leaders eye Hong Kong as ‘springboard’ to mainland China, Asia

American business leaders are looking to use Hong Kong as a “springboard” for tapping markets in China and Asia despite geopolitical tensions amid a wider reassessment of the mainland’s technological innovation, the city’s finance chief has said. Reflecting on his trip to New York and Washington last week, Financial Secretary Paul Chan Mo-po also said on Sunday that his exchanges would “lay the foundation” for further cooperation with the United States, even as Hong Kong got caught up in the...

Politics

6 d. ago Hong Kong to navigate trade war with supply chains, says Paul Chan in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

6 d. ago Hong Kong to navigate trade war with new strategies, Paul Chan says in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

6 d. ago Hong Kong will navigate trade war with new strategies, Paul Chan says in US

Hong Kong will successfully navigate protracted geopolitical tensions, serving as a supply chain hub while providing financial services and innovation, the finance chief has said after a visit to the United States where he promoted the city. Financial Secretary Paul Chan Mo-po offered the upbeat assessment in an interview with the Post at the end of his first visit to Washington since 2019, with a fresh phase of the US-China trade war looming and Hong Kong caught up in the rivalry. “Geopolitical...

Events

7 d. ago Hong Kong halts HK$4.6 billion air mail centre plan amid geopolitical tensions

Hong Kong has halted a HK$4.6 billion (US$592 million) redevelopment plan for an air mail centre designed to turn the city into a postal and logistics hub, after authorities cited a 67 per cent reduction in postage volume over five years due to geopolitical tensions. The project cancellation is the second this month by the government after it earlier shelved a HK$700 million exhibition hall in Wan Chai to showcase major development projects, including the Northern Metropolis, amid a burgeoning...

Politics

8 d. ago Taxi industry shifts focus to fair play after Hong Kong passes ride

Hong Kong’s taxi industry is gearing up for a new battle over fair competition in the wake of a ride-hailing bill’s passage, demanding a meeting with transport officials and warning that the government’s franchised fleet initiative may be undermined. While industry bodies on Thursday broadly welcomed the long-awaited legal framework, they also pivoted to unresolved details, saying the new law would be meaningless without strict, equitable rules on licensing, vehicle standards and operational...

Politics

8 d. ago Hong Kong’s tourism recovery to accelerate as Royal Caribbean increases sailings

Royal Caribbean International, the world’s largest cruise company by passenger numbers, will increase its sailings to and from Hong Kong from the current 12 to 16 next season, marking further recovery from the Covid-19 pandemic as the city experienced strong growth in international visitors during the first nine months of this year. In an interview with the Post on Wednesday, Kevin Fung, managing director of the cruise company’s Hong Kong operations, said mega vessel Spectrum of the Seas would...

Politics

9 d. ago Some pet toys in Hong Kong have chemicals that can cause allergies: watchdog

Some pet toys sold in Hong Kong have been found to contain chemicals that can trigger allergies in dogs or cause cancer in humans and animals, although the vast majority of samples comply with children’s toy standards, the city’s consumer watchdog has found. The Consumer Council revealed on Wednesday that 97 per cent of pet toys it tested complied with migration limits stipulated in the European safety standard for children’s toys, but one leather toy contained higher levels of chromium III,...

Politics

9 d. ago Hong Kong welcomes 36 million tourists in first 3 quarters, up 12% year on year

Hong Kong received 36 million visitors in the first three quarters of this year, a 12 per cent increase year on year, with strong growth in tourists coming from Japan, Taiwan and Australia. The provisional figures announced by the Hong Kong Tourism Board on Wednesday showed that nearly 3.3 million tourists visited the city last month, pushing the cumulative count for this year to 36 million, up 12 per cent compared with the same period in 2024. About 28 million visitors were from mainland China,...

Politics