52 m. ago Hong Kong’s financial centre status gives it an edge in AI market, experts say

Hong Kong’s status as an international financial centre gives it an edge in artificial intelligence (AI) development in spite of rising geopolitical tensions, according to experts, as the city boosts computing power resources to support companies involved in the vital technology. “For AI companies, having easy access to capital is extremely important,” SenseTime chief financial officer Wang Zheng said in a panel discussion at the South China Morning Post’s China Conference 2025 on Tuesday. “Hong...

Economics

74 m. ago Hong Kong’s annual anime fair to double venue size to cut waiting times for fans

Hong Kong’s annual comics and games fair is set to double its venue size this year to shorten waiting times for fans when it launches at the end of the month, according to the organiser. Ani-Com & Games Hong Kong 2025 is set to run from July 25 to 29 at Halls 1 and 3 of the Convention and Exhibition Centre, with the festival to feature a record-high number of 160 exhibitors and more than 788 booths. The event will mark the 26th year of the fair. It will span more than 34,870 square metres,...

Politics

2 h. ago Philippines summons Chinese ambassador over travel ban on former senator

The Philippine foreign ministry has summoned the Chinese ambassador Huang Xilian after Beijing hit the former Senate majority leader with a travel ban for his stance on the South China Sea. Francis Tolentino, a key ally of President Ferdinand Marcos Jnr, has been barred from entering mainland China, Hong Kong and Macau, according to a statement released by the Chinese foreign ministry last week. Beijing said the ban was the result of his “egregious conduct on China-related issues”. During a...

Politics

2 h. ago Hong Kong’s insurance market may balloon 55% as Greater Bay Area ages

Hong Kong’s insurance business may expand by a compounded 55 per cent over the next eight years, driven by the so-called silver economy serving senior citizens and growth in the Greater Bay Area, industry experts said on Tuesday. Gross insurance premium in the city may jump to US$127 billion by 2032 from last year’s US$82 billion, said Steve Finch, Manulife Financial’s Asia president, citing industry forecasts. That growth is enabled by the “depth and sophistication of Hong Kong’s insurance...

Politics

4 h. ago Business leaders call for efforts to combat ‘Hong Kong equals China’ perception

Hong Kong must work harder to be as international as possible under the “one country, two systems” framework to combat a growing perception in Western capitals that it is no different from any other mainland Chinese city, business leaders have urged. The city also maintains a significant lead over regional rival Singapore in key financial metrics, panellists at the South China Morning Post’s China Conference said on Tuesday. “The problem is that many of them feel that Hong Kong equals China,”...

Politics

4 h. ago Hong Kong’s hottest Xiaoshu: what does it mean and how can you cope?

Hong Kong experienced the hottest Xiaoshu on Tuesday, with the mercury at the Observatory hitting 34.3 degrees Celsius (93.7 Fahrenheit). However, the hottest weather is still yet to come, it warned. The Post explains what Xiaoshu is and presents traditional Chinese medicine’s recommendations for coping with the heat. 1. What is Xiaoshu? Xiaoshu, the 11th of the 24 solar terms in the Chinese lunisolar calendar, means minor or moderate heat and signifies the onset of summer, but not in full...

Politics

5 h. ago Hong Kong developer Grand Ming’s crisis deepens with US$611 million loan default

Hong Kong developer Grand Ming Group warned investors that it has yet to repay a HK$4.8 billion (US$611.4 million) loan, with its gearing ratio surging past 200 per cent – another sign of the growing debt crisis among the city’s small and medium developers. In a filing with the Hong Kong stock exchange on Tuesday, the company said that it had breached financial covenants under its loan facilities, according to its audited annual results for the year ended March 31. “The group has obtained...

Economics

5 h. ago 80% of Hong Kong Uber drivers worried about quota and fees under new rules

Nearly 80 per cent of 4,800 Uber drivers polled in Hong Kong are worried that a strict quota or high licensing fees under coming new regulations for ride-hailing platforms will threaten their livelihoods. The results of the poll conducted by platform operator Uber in June were revealed on Tuesday, just days after Secretary for Transport and Logistics Mable Chan announced that a highly anticipated regulatory proposal would be submitted to the legislature before the end of the month. Currently, it...

Politics

6 h. ago Hong Kong leaders say city is good place for investors to seek stability

Hong Kong is an ideal place for investors to seek stability and move resources away from riskier parts of the world, according to Alpha Lau Hai-suen, the director general of InvestHK. Speaking at the South China Morning Post’s China Conference on Tuesday, Lau said that since the Covid-19 pandemic, Hong Kong’s investment flows have not returned to previous levels due to global trade and tariff challenges. InvestHK is a government agency tasked with promoting the city overseas. “Despite all that,...

Politics

6 h. ago Experts urge Hong Kong to be a ‘value partner’, not just a ‘superconnector’

Hong Kong should ensure it acts as a “value partner” in addition to its role as a “superconnector” between mainland China and the rest of the world, rather than a mere facilitator of connections, according to experts including the city’s former commerce chief. Speaking at the South China Morning Post 2025 China Conference themed “Where Capital Meets Innovation” on Tuesday, the former Secretary for Commerce and Economic Development Edward Yau Tang-wah said Hong Kong should not merely aim to...

Politics

7 h. ago Hong Kong scam losses down 25% in first 5 months of year, but cases up

Scam-related losses in Hong Kong have declined 25 per cent to HK$2.8 billion (US$357 million) in the first five months of this year, but the number of cases has increased amid an overall drop in crime. Commissioner of Police Joe Chow Yat-ming revealed the latest figures at a North District Council meeting on Tuesday, saying the city had recorded 35,888 cases from January to May this year, a 2.8 per cent dip from the same period last year. But the number relating specifically to scams during the...

Politics

7 h. ago Tuition and music: how Hong Kong’s pupils got into their first choice schools

Attending private tuition and relaxing by playing chess and listening to music were among the strategies used by Hong Kong’s Primary Six students to achieve good grades and be part of the record 74 per cent of pupils who got into their most preferred secondary schools through the central allocation system. A primary school principal also said on Tuesday that students had benefited from less competition for entering their first choice institution, helped by the “zero-quota” policy that bans...

Culture

7 h. ago Bomb found in Hong Kong’s Tsim Sha Tsui, prompting police to seal off busy road

A bomb has been found in Hong Kong’s Tsim Sha Tsui, prompting police to cordon off busy Granville Road and call in explosive disposal experts. The force said on Tuesday that the bomb was discovered at a construction site on Mody Road near the west area of the Urban Council Centenary Garden in East Tsim Sha Tsui at 12.10pm. Witnesses said that about 40 workers were evacuated after the bomb was discovered as Explosive Ordnance Disposal officers arrived at the scene. According to Google Maps, the...

Events

7 h. ago Suspected bomb found in Hong Kong, busy road temporarily sealed off

A suspected bomb has been found in Hong Kong’s Tsim Sha Tsui, prompting police to temporarily cordon off busy Granville Road and call in explosive disposal experts. The force said on Tuesday that it was discovered at a construction site on Mody Road near the west area of Urban Council Centenary Garden in East Tsim Sha Tsui at 12.10pm. Witnesses said that about 40 workers were evacuated after the alleged bomb was discovered as Explosive Ordnance Disposal officers arrived at the scene. According...

Events

7 h. ago Bomb scare in Hong Kong’s Tsim Sha Tsui turns out to be false alarm

A bomb alert in Hong Kong’s Tsim Sha Tsui has turned out to be a false alarm, after police confirmed the object found at a construction site was a cannon barrel. The British cannon barrel, which prompted the force to temporarily cordon off busy Granville Road and call in explosive disposal experts, was discovered on Mody Road near the west area of Urban Council Centenary Garden in East Tsim Sha Tsui at 12.10pm on Tuesday. The barrel measures around 15cm (5.9 inches) in diameter and about 4...

Events

8 h. ago Eric Trump to headline Bitcoin Asia 2025 conference in Hong Kong

Eric Trump, the second-born son of US President Donald Trump, will attend next month’s Bitcoin Asia 2025 conference in Hong Kong as a headline speaker, as the city strives to position itself as a leading hub for digital assets, competing with the US. Trump would discuss bitcoin’s “long-term potential” and its impact on global finance, as well as “how Asia is shaping the future of bitcoin adoption,” said BTC Inc, the conference organiser, on Tuesday. Bitcoin Asia, the regional edition of the...

Politics

9 h. ago Hong Kong’s Metropol Restaurant, with dim sum trolleys, will close in September

A Chinese restaurant in Hong Kong known for serving dim sum from traditional trolleys will close down at the end of September after being in business for 35 years, joining a slew of eateries that have folded in the city in recent months. A staff member of Metropol Restaurant, located at United Centre in Admiralty, told the Post that the establishment would operate until September 27, but did not offer a reason for the decision to shut down. The restaurant opened in 1990 and is one of three...

Politics

9 h. ago Hong Kong’s Metropol Restaurant to close in September as HKUST buys venue

A restaurant known for serving dim sum from traditional trolleys will close at the end of September after the venue was acquired by the Hong Kong University of Science and Technology for HK$354.4 million (US$45 million), the Post has learned. Sources said on Tuesday that the university had bought the fourth floor of United Centre in Admiralty and planned to use the space, which has been occupied by Metropol Restaurant for more than three decades, for its business and management school. The Post...

Politics

9 h. ago Hong Kong’s Metropol Restaurant to close in September as HKUST buys the space

A restaurant known for serving dim sum from traditional trolleys will close at the end of September after the venue was acquired by the Hong Kong University of Science and Technology (HKUST) for HK$354.4 million (US$45 million). In a reply to the Post, HKUST confirmed on Tuesday that it recently reached an agreement to purchase a property at United Centre in Admiralty for teaching purposes. Records showed the location was the fourth floor, which had been occupied by Metropol Restaurant for more...

Politics

10 h. ago Hong Kong is vital link to world, where China anchors its trust, John Lee says

Hong Kong is a vital link that the world can rely on for security and development under the shifting geopolitical landscape as it connects the globe with China’s growth certainty and investible stability, the city leader has said. “Hong Kong is the ‘superconnector’ and ‘super value-adder’ that links the world with opportunities from China’s growth certainties. A link you can always bank on,” Chief Executive John Lee Ka-chiu said in a keynote speech at the South China Morning Post’s China...

Politics