Hong Kong Times

The rise and fall of Hui Ka Yan, China’s richest man

The former richest man in Asia, Evergrande Founder Hui Ka Yan, lost his fortune and all remaining personal assets after a Shenzhen court Sentenced to Life in Prison, convicted him over large-scale financial fraud, bribery and misuse of f...

Prudential Expands Hong Kong Office Footprint to 83,000 Square Feet at Taikoo Place

Prudential Hong Kong is expanding its presence at Quarry Bay’s Taikoo Place to 83,000 square feet, reflecting continued demand from major financial institutions for premium office space outside the Central business district.

Hong Kong Unemployment Rate Holds at 3.7% as Labour Market Stabilizes

Hong Kong’s seasonally adjusted unemployment rate remained at 3.7% from May through July, pointing to broadly stable labour-market conditions across consumer and service sectors despite continuing changes in cross-border retail demand.

Cathay Pacific Starts Almaty Flights as July Passenger Traffic Rises 9%

Cathay Pacific has launched three weekly direct flights to Almaty, Kazakhstan, marking its first route into Central Asia as the airline reported a 9% year-on-year increase in passenger traffic in July.

Hong Kong Exchange Eases IPO Rules to Clear Backlog of About 500 Listing Applications

Hong Kong Exchanges and Clearing has extended the validity of initial public offering applications to 12 months, giving the market more time to process a backlog of roughly 500 companies awaiting listing approval and potentially helping ...

Hong Kong Launches Density Incentives to Accelerate Redevelopment of Aging Districts

The Development Bureau will introduce a pilot Bonus Plot Ratio Scheme on September 1, offering developers additional density incentives to consolidate and redevelop aging residential and commercial buildings across Hong Kong.

AIA Group First-Half Profit Jumps 69% to $4.3 Billion on Stronger China and Hong Kong Business

AIA Group reported a 69.2% increase in first-half net profit to $4.3 billion, driven by stronger premium growth in Mainland China and Hong Kong and signaling a robust recovery in cross-border insurance and wealth-management activity.

Hong Kong Economy Grows 5.1% in First Half as Exports Surge

Hong Kong’s economy expanded 5.1% in the first half of the year, with June exports jumping 34.3% as strong global demand for artificial intelligence infrastructure and electronic components supported trade.

Hong Kong Attracts 70% of New Asian Investment Funds as Prime Office Vacancy Falls

Hong Kong has captured about 70% of newly launched Asian investment funds, according to commercial property data, while vacancy in prime offices fell to a 31-month low as international asset managers expanded their presence in the city.

Hong Kong Transport Department Deploys AI System for Traffic and Vehicle Licensing

The Transport Department has activated a citywide artificial intelligence system to optimize traffic signals, automate vehicle licensing approvals and strengthen security measures, expanding the use of smart technology in public services.

HAECO and China Aircraft Leasing Group Form Hong Kong Engine Maintenance Partnership

Hong Kong Aircraft Engineering Company and China Aircraft Leasing Group have agreed to establish an aircraft-engine maintenance platform at Hong Kong International Airport, expanding the city’s capacity to service international aviation ...

Bank of China Hong Kong and Ant International Partner on AI-Powered Cross-Border Treasury Services

Bank of China Hong Kong and Ant International are integrating artificial intelligence into corporate treasury services, allowing businesses to connect bank accounts with AlipayHK and streamline cross-border payments within the Greater Ba...

China Extends Two Hundred Forty-Hour Visa-Free Transit to Vietnam and Kyrgyzstan

China’s National Immigration Administration has expanded its visa-free transit policy to Vietnamese and Kyrgyz citizens, easing travel for tourism, business and regional commercial exchanges.

Huawei Opens Presales for First Co-Developed Electric Vehicle With Dongfeng Motor

Huawei has begun presales of a new smart vehicle developed with Dongfeng Motor, extending the technology company’s push into China’s automotive market through partnerships with established manufacturers.

China’s Trade Union Plan Expands Protections for Gig Economy Workers

The All-China Federation of Trade Unions has released a five-year plan to bring platform and digital-economy workers into formal union structures while strengthening labor protections and access to tailored social welfare services.

Algorithmic Trading Incident Triggers Mass Liquidations at Brokerage SBCFX

A highly leveraged trading algorithm allegedly opened thousands of rapid short positions within seconds, triggering widespread liquidations among retail gold traders and prompting scrutiny of the risks posed by automated trading systems.

Indonesia and China Deepen Strategic Cooperation After High-Level Jakarta Talks

Indonesian President Prabowo Subianto held talks with Chinese Foreign Minister Wang Yi and Defense Minister Dong Jun, reaffirming Jakarta’s commitment to comprehensive cooperation with Beijing while pursuing closer economic and security ...

China Completes Deep-Water Offshore Engineering Vessel Equipped With Underwater Robots

State-owned shipbuilders in Jiangsu have delivered a new multifunctional subsea engineering vessel equipped with advanced underwater robots, expanding China’s capabilities in deep-sea resource extraction and maritime infrastructure maint...

Yangtze Memory Moves Closer to Shanghai IPO as China Pushes Chip Localization

Yangtze Memory Technologies Corporation is advancing preparations for a major domestic public listing that would provide capital for supply-chain localization as Chinese chipmakers face stringent U.S. technology export restrictions.

Supreme People’s Court Opens Bankruptcy Liquidation of Evergrande’s Main Domestic Entity

The judicial disposal of Evergrande’s principal onshore company marks a final legal phase in resolving the collapsed property developer’s domestic liabilities, with complex asset recovery proceedings now beginning across mainland China.

China Expands Subsidized Loans to Boost Domestic Consumption

The Ministry of Finance has raised borrowing limits and widened credit eligibility for consumers and small and medium-sized businesses as Beijing steps up direct financial support to counter persistent weakness in domestic demand.

China’s Sovereign Wealth Fund Appoints Former Shanghai Official Wu Wei as President

China Investment Corporation has appointed Wu Wei, a former Shanghai official, as its new president, a leadership change that has prompted market speculation about possible consolidation among state-backed financial institutions.

Alibaba’s E-Commerce Profits Come Under Pressure as AI Investment Surges

Alibaba Group is facing tighter margins in its core domestic retail business as competition weighs on profitability while the company directs substantial investment toward artificial intelligence infrastructure and cloud computing.

U.S. Opens Patent Investigation Into Chinese Battery Maker EVE Energy

The U.S. government has launched investigations into EVE Energy and two other Chinese battery-material suppliers over alleged intellectual property violations, adding a legal dimension to mounting pressure on China’s dominant electric ve...

China’s Financial Regulator Revokes Evergrande Life Insurance License

The National Financial Regulatory Administration has terminated Evergrande Life Insurance’s operating license after finding that executives illegally diverted premium funds to related property-development entities following the insurer’s...

Hong Kong Investigates Canvas Data Breach Affecting More Than 153,000 People

Authorities are investigating a cybersecurity breach involving the Canvas platform that exposed personal information belonging to more than 153,000 people, prompting renewed concern over the protection of digital infrastructure and perso...

Hong Kong Alliance Leaders Convicted of Subversion in Landmark National Security Case

A national security court convicted leaders of the disbanded Hong Kong Alliance of subversion, in a major case that further shapes the city’s political environment and the operating space for civil society organizations.

Hong Kong Unemployment Rate Holds at 3.7 Percent as Labor Market Remains Resilient

Hong Kong’s unemployment rate remained at 3.7 percent, indicating continued labor market stability despite persistent challenges in retail, hospitality and commercial real estate.

Hong Kong Investors Begin Targeting Discounted Non-Core Office Properties

Corporate buyers and institutional investors are acquiring discounted assets in Hong Kong’s weakened non-core commercial property market, indicating that lower valuations are beginning to attract capital into parts of the office sector.

Hong Kong Launches Offshore Chinese Government Bond Futures to Expand Yuan Risk Management

Hong Kong Exchanges and Clearing launched a five-year Chinese Government Bond Futures contract, giving international investors a new exchange-traded hedging tool and strengthening Hong Kong’s role in offshore yuan and fixed-income markets.

CK Hutchison Seeks HK$11.7 Billion From Panama Over Port Concession Dispute

Hong Kong conglomerate CK Hutchison Holdings has launched international proceedings seeking HK$11.7 billion in damages from the Panamanian government over a dispute involving port concessions, highlighting the legal and geopolitical risk...

Cathay Pacific to Launch Direct Flights From Hong Kong to Almaty in January

Cathay Pacific will begin direct passenger services to Almaty, Kazakhstan, in January, expanding Hong Kong’s air links with Central Asia and strengthening commercial connections along emerging Belt and Road routes.

Alibaba Reports Strong Earnings Growth as Cloud and Artificial Intelligence Demand Accelerate

Alibaba Group reported robust earnings growth as its cloud computing and artificial intelligence businesses expanded rapidly, highlighting the growing importance of technology investment by mainland Chinese companies to Hong Kong’s equit...

Henderson Land Profit Jumps 66 Percent on Strong Residential Sales

Hong Kong property developer Henderson Land reported a 66 percent increase in profit, driven by resilient sales of new homes even as weaker conditions continue to weigh on parts of the commercial and secondary residential property markets.

Shein Delays Hong Kong Listing Until September

Fast-fashion company Shein has postponed its planned Hong Kong stock market debut until September as it navigates regulatory scrutiny and reassesses conditions in global capital markets.

Mainland Chinese Investors Maintain Strong Demand for Hong Kong Insurance and Wealth Products

Demand from mainland Chinese customers for Hong Kong insurance policies remained strong despite recent tax regulatory changes in Beijing, underscoring continued interest in the city’s wealth management and asset diversification services.

Hong Kong Aircraft Engineering Company to Establish New Aircraft Maintenance Hub

The Hong Kong Aircraft Engineering Company has signed an agreement to develop a new aircraft maintenance and engineering hub, reinforcing the city’s role as an aviation servicing and logistics center in the Asia-Pacific region.

Hong Kong Exchange Reports Record First-Half Revenue and Profit as Trading Volumes Surge

Hong Kong Exchanges and Clearing reported record first-half revenue of HK$16.7 billion and profit attributable to shareholders of HK$10.6 billion, helped by stronger trading activity and renewed investor confidence in Chinese and innovat...

Evergrande Founder Hui Ka-yan Sentenced to Life in Prison for Financial Fraud

A mainland Chinese court sentenced China Evergrande founder Hui Ka-yan to life imprisonment and fined the company 8.82 billion yuan, bringing a major legal case arising from the property developer’s collapse to a first-instance conclusion.

Hong Kong Raises Full-Year Growth Forecast After Economy Expands 4.3 Percent in Second Quarter

Hong Kong Financial Secretary Paul Chan raised the government’s annual growth forecast after second-quarter gross domestic product grew 4.3 percent, supported by a 28.8 percent increase in goods exports and sustained global demand for ar...

China Pressures South Korea to Remove Lawmakers From Beijing Robotics Conference Delegation

China's embassy in Seoul pressured South Korea's National Assembly to remove two lawmakers from a delegation attending a robotics conference in Beijing after their previous visits to Taiwan, highlighting tensions over Beijing's policy to...

China Orders Artificial Intelligence Integration Into National Climate Services by 2030

China's meteorological authorities have issued a roadmap calling for greater use of domestically developed Earth system models and artificial intelligence in weather and climate services by 2030 to strengthen monitoring and disaster-risk...

People's Bank of China Injects 95 Billion Yuan While Keeping Key Interest Rate Unchanged

The People's Bank of China conducted ninety-five billion yuan in seven-day reverse repos at a 1.40 percent rate, providing short-term liquidity to the banking system while policymakers maintain a cautious approach to monetary support.

China Youth Unemployment Hits 17.9 Percent, Highest in Three Years

The unemployment rate among Chinese people aged 16 to 24 rose to 17.9 percent in July, reflecting pressure on the labor market as a new wave of university graduates enters an economy marked by weak property activity and cautious private-...

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