48 h. ago Hong Kong’s investment body posts US$300 million income in first year

The Hong Kong Investment Corporation (HKIC) earned HK$2.34 billion (US$300.7 million) in investment income last year, as the city’s wholly owned investment vehicle made an impressive report after its first year of operation. HKIC posted HK$2.25 billion in operating income for the year that ended on December 31, on HK$64 billion in total assets, while deploying less than one-fifth of its initial capital of HK$62 billion, according to a report on Thursday. “HKIC is the patient capital investment...

Economics

3 d. ago Hongkongers gather on seventh day after Tai Po fire to grieve and demand answers

Residents and mourners have demanded that the Hong Kong government ramp up its investigations to hold responsible parties accountable, as they gathered to mark the seventh day after the start of the city’s worst fire in seven decades. Hundreds of people assembled at the Kwong Fuk sit-out area on Tuesday, laying flowers, writing messages of grief and praying for those who died in the blaze that engulfed Wang Fuk Court housing estate in Tai Po last week. Among them was Lui Yuk-lin, a 62-year-old...

Events

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

4 d. ago Hong Kong crypto exchange HashKey wins listing nod in test of investor appetite

Crypto exchange operator HashKey Holdings has cleared its Hong Kong listing hearing after an earlier confidential filing, paving the way for a deal that will test investor confidence in the digital asset sector amid evolving regulation. The operator of Hong Kong’s biggest licensed crypto exchange did not disclose the size or the timing of its initial public offering (IPO) in a filing on Monday. It was reported in October that HashKey could raise as much as US$500 million in a listing this...

Economics

8 d. ago Fire probe centres on widespread use of flammable material by building firm

The investigation into a deadly fire at a Hong Kong housing estate has centred on the use of flammable material in the scaffolding that covered the residential blocks, officials said on Thursday. Police arrested three men from the maintenance firm responsible for the buildings on suspicion of manslaughter, while the city’s anti-graft agency said it was looking into a possible case of corruption. Secretary for Security Chris Tang Ping-keung had revealed shortly before 2am that authorities...

Events

9 d. ago 44 dead, 279 missing in Hong Kong fire, with 3 arrested as probe launched

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. What we know so far: 44 people, including a firefighter, have died. Some 279 are still missing Among those hospitalised, 45 are in serious condition The eight residential blocks in the estate had been undergoing renovations since July 2024, sheathed in bamboo scaffolding and green mesh Authorities say the rapid spread of fire was “unusual”, with...

Events

9 d. ago 44 dead, 279 missing in Hong Kong fire, now burning for 16 hours; 3 arrested

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. What we know so far: 44 people, including a firefighter, have died. Some 279 are still missing Among those hospitalised, 45 are in serious condition The eight residential blocks in the estate had been undergoing renovations since July 2024, sheathed in bamboo scaffolding and green mesh Authorities say the rapid spread of fire was “unusual”, with...

Events

9 d. ago Death toll hits 44, 279 missing in Hong Kong’s worst fire, burning for 19 hours

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. What we know so far: 44 people, including a firefighter, have died. Some 279 are still missing Among those hospitalised, 45 are in critical condition Full-scale rescue work is ongoing, with a woman and more pets extracted from buildings The eight residential blocks in the estate had been undergoing renovations since July 2024, sheathed in bamboo...

Events

9 d. ago 44 dead, 279 missing in Hong Kong’s worst fire, now burning for 20 hours

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. What we know so far: 44 people, including a firefighter, have died. Some 279 are still missing 68 people are in hospital, 16 in critical condition, 25 deemed serious Full-scale rescue work is ongoing, with a woman and more pets evacuated from buildings The eight residential blocks in the estate had been undergoing renovations since July 2024, sheathed...

Events

9 d. ago John Lee orders inspections as 44 dead in Hong Kong fire, Jack Ma makes donation

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. What we know so far: 44 people, including a firefighter, have died. Some 279 are still missing 68 people are in hospital, 16 in critical condition, 25 deemed serious Full-scale rescue work is ongoing, with a woman and more pets evacuated from buildings The eight residential blocks in the estate had been undergoing renovations since July 2024, sheathed...

Events

9 d. ago Fire toll remains at 55 as Hong Kong sets up HK$300 million fund for victims

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. What we know so far: 55 people, including a firefighter, have died. Fifty-one were found dead at the scene 76 people are in hospital – 15 in a critical condition, 28 deemed serious Another 62 people are still trapped inside seven buildings Full-scale rescue work is ongoing, with a...

Events

9 d. ago Hong Kong fire death toll rises to 65 as survivor found on stairs of building

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. What we know so far: 65 people, including a firefighter, have died 70 injured including 10 firefighters Another 62 people are still trapped inside seven buildings Full-scale rescue work is ongoing, with a woman, an elderly man and pets evacuated The eight residential blocks in the...

Events

9 d. ago Hong Kong fire death toll rises to 75 as survivor found on stairs of building

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. What we know so far: 75 people, including a firefighter, have died 76 injured including 11 firefighters 50 calls for help to fire services remain unresolved Full-scale rescue work is ongoing, with a woman, an elderly man and pets evacuated The eight residential blocks in the...

Events

9 d. ago Hong Kong fire death toll rises to 83 as survivor found on stairs of building

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. Get faster notifications on the latest updates by downloading our app. What we know so far: 83 people, including a firefighter, have died 76 injured including 11 firefighters 50 calls for help to fire services remain unresolved Full-scale rescue work is ongoing, with a woman, an elderly man and pets evacuated The eight residential blocks in the...

Events

9 d. ago Chinese carmakers boost robotics efforts, Xpeng posts record revenue: 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. China’s Xpeng posts record revenue as robotaxi and humanoid ambitions take shape Leading Chinese electric vehicle (EV) maker Xpeng reported record quarterly revenue and sharply narrowed losses in the third quarter, even as its Hong Kong-listed shares fell on Monday after investors...

Politics

9 d. ago 2 Hong Kong students stabbed after birthday celebration, police investigating

Two Hong Kong students will undergo surgery after being stabbed at a public housing estate, with police investigating the cause of their injuries. A police source said on Wednesday that the two 18-year-old students were injured after celebrating one of their birthdays on the staircase of the 37th floor of Mei Yue House in Shek Kip Mei Estate the previous day. One student, surnamed Au, suffered knife wounds to his head, back and waist, while the other, surnamed Cheung, sustained injuries to both...

Events

9 d. ago Hong Kong student arrested after birthday celebration takes violent turn

A Hong Kong student has been arrested after he allegedly stabbed his classmate following a dispute at a public housing estate, with police investigating the cause of the incident. Police said on Wednesday that the 17-year-old victim suffered knife wounds to his eyes, ears, hands, waist and back. The case was reported at around 7pm on Tuesday at Mei Yue House in Shek Kip Mei Estate in Sham Shui Po. “After our preliminary investigation, we suspect that the pair had a dispute over a trivial matter...

Events

1 week ago ‘Out of ICU’: Hong Kong’s quarterly real estate deals triple to US$4.9 billion

Investment in Hong Kong’s commercial property more than tripled in the third quarter from a year earlier, making it the second-fastest growing market in the Asia-Pacific region amid rising confidence in the city’s bruised real estate sector, according to MSCI. Some US$4.9 billion was pumped into offices, data centres, retail spaces, hotels and senior housing in the September quarter, a year-on-year increase of 231 per cent, according to the data services provider, which compiled deals worth at...

Economics

1 week ago ‘Real investments’ reflect global community’s ‘confidence’ in Hong Kong: Zhou Ji

The international community has cast “a vote of confidence” on Hong Kong’s prospects with their investments, with achievements attained through the proper implementation of the “one country, two systems” principle, Beijing’s top representative in the city has said. Zhou Ji, director of Beijing’s liaison office in Hong Kong, also said that, having “filled the gaps” in national security, now was the “best time” for the city to focus on the economy, push for development and construction – including...

Politics

1 week ago Egypt hopes artefact exhibition in Hong Kong will help spur trade and investment

Hong Kong plays a “pivotal role” in Sino-Egyptian relations, according to top officials from the North African nation, who have expressed high hopes of boosting trade and tourism with the city through cultural exchanges. Baher Sheweikhi, Egypt’s consul general for Hong Kong and Macau, said he was confident that a nine-month exhibition at the Hong Kong Palace Museum, which began on Thursday and features 250 historical artefacts, including mummies, statues, jewellery and more, could translate into...

Politics