45 m. ago Economist Huang Yiping floats Hong Kong as stablecoin staging ground

Issuing a stablecoin pegged to the offshore yuan in Hong Kong may be more feasible than in mainland China due to the latter’s capital controls, a central bank adviser has said. The comments from Huang Yiping, also dean of Peking University’s National School of Development, came as worries arise in Beijing’s policy circles that Washington could gain an upper hand through the cryptocurrency offshoot as a means of consolidating US dollar dominance. “As China’s capital account is not fully...

Politics

1 hour ago China aircraft carrier 'Shandong' draws crowds in first Hong Kong visit

China aircraft carrier 'Shandong' draws crowds in first Hong Kong visit  Reuters

Transport

2 h. ago Hong Kong lawmakers may face suspension, pay cut under proposed misconduct rules

Hong Kong’s legislature is expected to investigate evidence-based, real-name complaints about lawmakers’ conduct through a committee with an expanded scope, as part of a proposal to revamp current guidelines and regulations. Andrew Leung Kwan-yuen, president of the Legislative Council, said on Thursday that those found in violation could face the maximum penalty of suspension from office and salary deductions, but stopped short of naming specific standards to categorise “minor, serious and...

Economics

2 h. ago From land to sea: top spots to get a glimpse of the Shandong in Hong Kong

Crowds of fans and onlookers gave an emotional welcome to the Chinese aircraft carrier Shandong and its accompanying strike group when they sailed into Hong Kong waters on Thursday for a five-day port call. Many are seeking alternatives or the best vantage points to view the fleet, as the Shandong is anchored to the west of Victoria Harbour. The other three vessels – the missile destroyers Yan’an and Zhanjiang, and the missile frigate Yuncheng hull number 571 – are moored at the PLA pier on...

Politics

3 h. ago Hong Kong may issue T1 warning on Friday as potential cyclone develops

Hong Kong Observatory will consider issuing a T1 typhoon warning signal on Friday and Saturday, urging the public to stay away from the shoreline and refrain from water sports. The forecaster on Thursday said the area of low pressure to the north of Luzon would develop into a tropical cyclone in the coming few days and come within 800km (497 miles) of Hong Kong. It said the cyclone would remain near the northeastern part of the South China Sea and intensify. “Depending on its development and...

Events

5 h. ago TVB cameraman found dead on balcony of Hong Kong flat in aftermath of blaze

A 41-year-old man was found dead on the balcony of a Hong Kong building in the aftermath of a fire in Sham Shui Po, police have revealed. The Post learned that the deceased was a camera crew member of free-to-air broadcaster TVB’s news department, and has reached out to TVB for comment. A force spokesman said police received reports of a fire at 4.08am on Thursday on the 28th floor of a residential building on Yee Kuk Street in Sham Shui Po. The spokesman said one of the people who called police...

Events

6 h. ago Hong Kong tourists undeterred by prediction that quake will hit Japan on July 5

Hong Kong travel agencies have not recorded widespread cancellations of Japan-bound tour groups for the coming weekend, despite a manga artist’s widely discussed prediction that a mega-earthquake will hit the country on Saturday. But some business insiders suggested the number of tours this summer was expected to fall by half compared with last year. The Japan National Tourism Organisation reported that only 193,100 visitors from Hong Kong were recorded coming to the country in May, down by 11.2...

Events

6 h. ago PwC’s China Woes Hit Hong Kong Legal Affiliate, Partners Depart, Firm to Rebrand

PwC’s China Woes Hit Hong Kong Legal Affiliate, Partners Depart, Firm to Rebrand  Law.com

Economics

7 h. ago Hong Kong stocks drop as US trade deals signal hurdles for China’s exports

Hong Kong stocks drop as US trade deals signal hurdles for China’s exports  South China Morning Post

Politics

10 h. ago Emperor’s financial struggle mirrors current state of Hong Kong real estate

Hong Kong developer Emperor International Holdings’ struggles reflect the highs and lows the city’s property sector has endured over the past few years. Just over five years ago, residential and commercial real estate prices and rents were hitting record highs. Developers reported robust earnings and had access to cheap financing, boosting their confidence – and that of investors – to spend more on new projects or acquire existing income-generating properties. But this golden era ended abruptly....

Politics

10 h. ago Live: Chinese aircraft carrier Shandong enters Hong Kong waters for 5

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. The Chinese aircraft carrier Shandong and its accompanying strike group entered Hong Kong waters on Thursday morning as part of a five-day trip, marking the first time one of the country’s fully domestically built carriers has visited the city. The 70,000-tonne warship is being escorted by...

Society

10 h. ago Live: Chinese aircraft carrier Shandong arrives in Hong Kong for 5

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. The Chinese aircraft carrier Shandong and its accompanying strike group entered Hong Kong waters on Thursday morning as part of a five-day trip, marking the first time one of the country’s fully domestically built carriers has visited the city. The 70,000-tonne warship is being escorted by...

Society

10 h. ago Live: Chinese aircraft carrier’s visit shows national security ‘rock

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. The Chinese aircraft carrier Shandong and its accompanying strike group entered Hong Kong waters on Thursday morning as part of a five-day trip, marking the first time one of the country’s fully domestically built carriers has visited the city. The 70,000-tonne warship is being escorted by...

Society

10 h. ago Chinese aircraft carrier’s visit shows national security ‘rock

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. The Chinese aircraft carrier Shandong and its accompanying strike group entered Hong Kong waters on Thursday morning as part of a five-day trip, marking the first time one of the country’s fully domestically built carriers has visited the city. The 70,000-tonne warship is being escorted by...

Events

10 h. ago Mainland digital yuan partner signs deal to develop stablecoin tech in Hong Kong

A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to...

Politics

10 h. ago Mainland Chinese digital yuan partner to develop stablecoin tech in Hong Kong

A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to...

Politics

18 h. ago Hong Kong can chart path for growth in the space economy: Regina Ip

A top adviser to Hong Kong has called for the local government to aim for the space economy as the city’s answer to stimulating high-quality economic growth, while seeking to host top-tier international events such as the Apec finance ministers’ meeting to enhance global ties and boost local consumption. Regina Ip Lau Suk-yee, convenor of the key decision-making Executive Council and chairwoman of the New People’s Party, also proposed a HK$50 million (US$6.4 million) fund on Wednesday to support...

Politics

21 h. ago 2 men and mum jailed for up to 16 years after Hong Kong girls sexually assaulted

A Hong Kong court has handed down jail sentences of up to 16 years to two men for sexually exploiting two girls when the defendants separately had a relationship with the victims’ mother six to eight years ago. The High Court on Wednesday also sentenced the mother to four years for child cruelty, including locking the girls in a pitch-black bathroom for hours, and hindering a police investigation after the crimes came to light in April 2023. The two male defendants, former computer technician...

Events

21 h. ago Hong Kong’s South Lantau ecotourism plan may harm environment: green groups

Hong Kong’s ecotourism plans for South Lantau could be reduced to a property project that threatens the environment if authorities fail to set clear guidelines, green groups and academics have warned, as a deadline for developers to express their interest approaches on Wednesday. Greenpeace, along with the Hong Kong Bird Watching Society and eight other groups and academics, also said on Wednesday that the government’s approach, which includes allowing developers to propose ecotourism projects...

Politics

21 h. ago Hong Kong’s South Lantau ecotourism plans could harm environment: green groups

Hong Kong’s South Lantau ecotourism plans could be reduced to property projects that threaten the environment if authorities fail to set clear guidelines, green groups and academics have warned ahead of Wednesday’s deadline for developers to express their interest. Greenpeace, the Hong Kong Bird Watching Society, seven other groups and an academic also said on Wednesday that the government’s approach, which includes allowing developers to propose ecotourism projects with residential...

Politics