Hong Kong Times

Hong Kong Holds State Funeral for First Chief Executive Tung Chee-hwa

Hong Kong held a state funeral for Tung Chee-hwa, the city’s first chief executive after the 1997 handover, with political and business figures gathering to commemorate his role in the territory’s early post-handover years.

Hong Kong to Pilot Higher-Paid Foreign Carers for Elderly Residents

Hong Kong will introduce a pilot program allowing foreign carers with advanced elderly-care training to work in private homes, with salaries expected to be 10% to 20% above those of standard foreign domestic helpers.

Hong Kong Expands Offshore Yuan Strategy With New Cross-Border Measures

Hong Kong regulators are preparing measures to broaden offshore renminbi use, while the government plans to settle Dongjiang water purchases from Guangdong in yuan as part of efforts to increase cross-border use of the Chinese currency.

Hong Kong’s Huanggang Port to Introduce Joint Immigration Clearance on October 12

The revamped Huanggang Port is scheduled to launch a joint immigration clearance system on October 12, aiming to simplify passenger and logistics movements between Hong Kong and Shenzhen.

Hong Kong Investigates Unauthorized Credit Card Charges Linked to iPhone Pre-Orders

Hong Kong police and banks are investigating unauthorized credit card transactions linked to iPhone pre-orders, with more than 700 reports initially involving HK$14.7 million in charges.

RCEP Establishes Working Group to Advance Hong Kong’s Membership Application

The Regional Comprehensive Economic Partnership has approved an accession working group for Hong Kong and other applicant economies, formally opening negotiations that could deepen the city’s access to regional trade and investment flows.

Beijing Launches Three-Year Plan to Expand Edge Computing and AI Infrastructure

Beijing’s municipal government has introduced a policy program through 2028 focused on inference chips, lighter AI models and domestic intelligent-computing infrastructure as the city seeks to expand artificial intelligence deployment an...

Huawei Says Ascend Chips Have Overtaken Nvidia in China and Could Lead AI Training by 2027

Huawei Deputy Chairman Eric Xu Zhijun said use of the company’s Ascend processors has surpassed Nvidia in the Chinese market and projected that domestic hardware will become the main platform for AI model training in China by 2027.

Alibaba Unveils New AI Chip and Plans Model With Up to 10 Trillion Parameters

Alibaba has introduced an artificial intelligence processor it describes as China’s most powerful, alongside plans to train a model with as many as 10 trillion parameters as the company expands its domestic computing capabilities.

People’s Bank of China Holds Benchmark Lending Rates Steady in September

China kept its one-year loan prime rate at 3.0% and its over-five-year rate at 3.5%, maintaining a cautious monetary stance as policymakers balance support for economic growth with currency stability and pressure on bank margins.

Chinese Researchers Explore 3-Nanometer Chip Production With Older Lithography Equipment

Researchers at the Chinese Academy of Sciences have demonstrated an approach to producing 3-nanometer semiconductors using older lithography systems, potentially offering China another route to advance chip manufacturing despite restrict...

China’s Fiscal Revenue Growth Slows as Public Budget Spending Contracts

China’s national fiscal revenue growth eased to 4.7% in August while broader public budget spending declined, adding to pressure on local governments facing a prolonged property downturn and weak domestic demand.

China Targets 3.5 Trillion Yuan Pharmaceutical Industry by 2030

Beijing has outlined a five-year plan aimed at expanding China’s pharmaceutical sector to 3.5 trillion yuan by 2030, with policymakers targeting annual growth of more than 20% for innovative drugs and stronger global competitiveness amon...

China’s CXMT Unveils Fifth-Generation DRAM Manufacturing Process

ChangXin Memory Technologies has introduced a fifth-generation production process for 24-gigabit memory chips, marking further progress by China’s largest DRAM maker toward the capabilities of global leaders including Samsung and SK Hynix.

People’s Bank of China Plans 60 Billion Yuan Bill Issue in Hong Kong

China’s central bank will issue 60 billion yuan of six-month renminbi bills through Hong Kong’s financial infrastructure, strengthening the city’s role as a major offshore centre for renminbi liquidity and settlement.

Hong Kong Unveils First Five-Year Economic Plan With Technology and Innovation at Its Core

Chief Executive John Lee’s 2026-2030 development plan sets out a broader push into artificial intelligence, life sciences and advanced technology while seeking to raise research and development spending toward 3% of gross domestic produc...

New World Development Wins Approval for Shanghai Listing of K11 Property REIT

New World Development has received approval to spin off mainland commercial properties into a Shanghai-listed real estate investment trust, creating a new channel for the Hong Kong group to recycle capital from its Chinese property portf...

Cathay Pacific Reports Strong August Passenger and Cargo Demand

Cathay Pacific carried 2.83 million passengers in August, up 5.4% from a year earlier, while cargo volumes also increased as the wider Cathay Group benefited from strong summer travel demand. ([news.cathaypacific.com][4])

Hong Kong to Launch Full Gold Clearing and Settlement System in Early 2027

Hong Kong plans to formally launch its central gold clearing and settlement system in the first quarter of 2027 as the government seeks to expand the city’s role in Asian precious-metals trading. ([Hong Kong Information Agency][2])

Ligent Technologies Raises HK$5.7 Billion as Hong Kong Technology Listings Accelerate

Computing-network company Ligent Technologies surged on its Hong Kong debut after raising HK$5.7 billion, adding to a strong year for artificial intelligence infrastructure fundraising in the city’s equity market.

Hong Kong Airport Advances SKYTOPIA Yacht Marina and Dongguan Logistics Hub

Airport Authority Hong Kong is progressing its SKYTOPIA yacht development while the permanent Dongguan Logistics Park facility remains scheduled for full operation in 2027 with capacity of about one million tonnes a year. ([Hong Kong In...

Citi Raises Hong Kong Home Price Growth Forecast to 12% for 2026

Citi has increased its forecast for Hong Kong residential property price growth from 8% to 12%, reflecting stronger expectations for the housing market and transaction activity.

Shanghai Hosts 48th WorldSkills Competition to Promote Advanced Technical Training

Shanghai has opened the 48th WorldSkills Competition, bringing together young vocational competitors from around the world as China seeks to strengthen technical skills for advanced manufacturing and industrial automation.

Geely Founder Li Shufu Expands Professional Management Model at Automotive Group

Geely founder Li Shufu is moving further toward professional management rather than family succession as the Chinese automotive group strengthens institutional governance for its expanding international business.

Chinese AI Company Z.AI Opens Coding Tool After Data Privacy Backlash

Z.AI released the source code for its ZCode programming framework after scrutiny over the software’s handling of user workspaces, highlighting growing attention to data privacy and transparency in China’s artificial intelligence sector.

Hong Kong Establishes Joint Cybersecurity Laboratory to Address Artificial Intelligence Threats

Hong Kong authorities and Cyberport are developing a joint cybersecurity capability focused on detecting artificial intelligence-enabled attacks and other emerging threats to critical digital networks.

XPeng Plans G9L Electric SUV Rollout Across More Than 60 Overseas Markets

Chinese electric vehicle maker XPeng plans to introduce its new G9L sport utility vehicle in more than 60 international markets by year-end as the company expands overseas amid intense competition at home.

People’s Bank of China Pledges Further Financial Opening as Lending Rates Stay at Record Lows

People’s Bank of China Governor Pan Gongsheng told major foreign financial institutions that China will continue expanding market access and improving cross-border payment services as policymakers seek to attract international capital an...

China’s Largest Cities Record Sixth Month of Rising Pre-Owned Home Prices

Secondary-market housing prices in Beijing, Shanghai, Shenzhen and Guangzhou increased for a sixth consecutive month in August, signalling some stabilisation in major urban markets despite continued weakness across China’s broader proper...

CXMT Begins Mass Production of Fifth-Generation DRAM Platform

Chinese memory-chip maker Changxin Memory Technologies has started mass production of its G5 DRAM platform, using quadruple-patterning technology to achieve an 11.95-nanometre active-area half-pitch and narrow the gap with leading global...

Evergrande Electric Vehicle Unit Abandons Car Production as Financial Crisis Deepens

China Evergrande New Energy Vehicle Group has halted automobile production and shifted toward battery trading and technical services, with the heavily indebted company employing only seven people as its financial difficulties continue.

China’s Top 500 Private Companies Report Combined Revenue of 44.93 Trillion Yuan

The All-China Federation of Industry and Commerce said operating revenue among the country’s 500 largest private enterprises increased 4.35% to 44.93 trillion yuan, with JD.com and Alibaba retaining leading positions.

Airbus Delivers First Aircraft From Second A320 Assembly Line in Tianjin

Airbus has delivered the first A320-family aircraft built on its second final assembly line in Tianjin, expanding its Chinese manufacturing footprint as the company works toward higher global production rates.

United States and China Hold High-Level Economic Talks Ahead of Trump-Xi Summit

United States Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held talks in New York covering trade and artificial intelligence risks as Washington and Beijing prepared for an upcoming meeting between Presidents Donal...

ChinaAMC, OSL and Standard Chartered Complete Hong Kong Dollar Stablecoin Fund Transaction

China Asset Management, OSL and Standard Chartered have completed a digital fund transaction using a regulated Hong Kong dollar-pegged stablecoin, advancing institutional use of blockchain-based financial infrastructure.

Hong Kong Expands Financing and AI Support for Small Businesses

Authorities are rolling out additional support for small and medium-sized enterprises, including free credit checks, broader funding assistance and matching subsidies for artificial intelligence and cybersecurity adoption.

Hong Kong Unemployment Rate Edges Up to 3.8%

Hong Kong’s seasonally adjusted unemployment rate has risen to 3.8%, indicating modest softening in the labour market even as major employers signal continued hiring demand.

Hong Kong Moves to Allow Southbound Yacht Travel From Guangdong

The Marine Department is preparing an agreement with Guangdong maritime authorities to facilitate yacht travel into Hong Kong, expanding cross-border leisure and luxury tourism within the Greater Bay Area.

Hong Kong Studies Victoria Park Upgrade for Major Sports and Entertainment Events

Authorities are examining plans to redevelop Victoria Park Centre Court as an all-weather, multipurpose venue capable of hosting larger international sporting and entertainment events.

Hong Kong Unveils First Five-Year Economic and Social Development Plan

Chief Executive John Lee has introduced Hong Kong’s first five-year development plan for 2026 to 2030, with priorities including higher-value maritime services and strengthening the city’s position in cross-boundary wealth management.

Hong Kong Monetary Authority Raises Base Rate to 4.25%

The Hong Kong Monetary Authority has lifted its base rate to 4.25% following a quarter-point increase by the U.S. Federal Reserve, tightening borrowing conditions as the property market continues its recovery.

Hong Kong IPO Pipeline Swells With $1.8 Billion Wave of New Offerings

Hong Kong’s listing market is seeing another surge in fundraising activity, with about $1.8 billion of new offerings launched in a single day as artificial intelligence and technology companies help revive equity issuance.

Hong Kong Authorises Northern Link Spur Line Connecting San Tin and Shenzhen

The Northern Link Spur Line is moving toward construction, with the planned cross-border railway expected to cut travel between San Tin and Shenzhen’s new Huanggang Port to about 11 minutes.

HKG Times