Hong Kong Times

Hong Kong Ranks Seventh Globally for Next Generation of Ultra-Wealthy Individuals

An international wealth study ranked Hong Kong seventh among global destinations favored by the next generation of ultra-high-net-worth individuals, keeping the city among Asia’s leading wealth-management centers.

Bain Capital Weighs Investment in New World Development After 11 SKIES Reversion

Bain Capital is considering an investment in New World Development after the indebted Hong Kong developer agreed to return the 11 SKIES project to the Airport Authority in April 2027 and pay a HK$2.3 billion settlement.

Hong Kong IPO Market Surges as AI Fundraising Drives Record Summer Activity

Hong Kong’s equity fundraising market accelerated sharply in the third quarter as enthusiasm for artificial intelligence helped lift Asia-Pacific share sales above $120 billion, with Z.AI raising nearly $10 billion through public offerin...

Hong Kong Investment Corporation Extends Clara Chan’s Term by Three Years

The Hong Kong government renewed Clara Chan’s appointment as chief executive of the Hong Kong Investment Corporation for another three years, maintaining continuity at the city’s strategic investment vehicle.

Cathay Pacific to Launch Daily Hong Kong-Madrid Flights From Late October

Cathay Pacific will increase its Madrid service to daily nonstop flights from late October 2026 using Airbus A350 aircraft, expanding Hong Kong’s direct aviation links with Europe.

Anthropic Tightens Restrictions on Claude Access From Hong Kong

Anthropic has strengthened virtual private network blocking to prevent Hong Kong users from accessing its Claude artificial intelligence models, adding to signs of growing technological separation between the city and major US AI providers.

Hong Kong Golden Week Tourism Surge Lifts Hotels, Restaurants and Retailers

Hong Kong businesses are reporting stronger revenue as an estimated 1.29 million mainland Chinese visitors arrive during the extended National Day Golden Week, although more cautious spending is pushing retailers and hospitality operator...

Hong Kong Deepens Greater Bay Area Integration With New Green Finance Framework

Hong Kong authorities and business leaders unveiled measures to strengthen links with the Guangdong-Hong Kong-Macau Greater Bay Area, including closer alignment of environmental, social and governance disclosure standards with internatio...

Taiwan Coast Guard Uses Water Cannons Against Chinese Fishing Vessel Near Dongsha

Taiwanese authorities used water cannons to drive away a mainland Chinese fishing boat operating 27 nautical miles east of Dongsha Island, adding to cross-strait tensions in contested South China Sea waters.

Panama Audit Examines CK Hutchison Subsidiary Over Canal Concessions

Panamanian authorities are scrutinizing former port regulators and executives of a Hong Kong-based CK Hutchison subsidiary as part of an audit into concessions and regulatory oversight around the Panama Canal.

China’s New Economy Gauge Slips as Technology Investment and Specialist Hiring Cool

Caixin’s New Economy Gauge fell to 34.1% in September as investment and labor inputs into higher-value industries weakened amid softer venture capital activity and broader macroeconomic pressure.

China Returns to Top 100 in Global Gender Parity Ranking

China rose to 96th place in the World Economic Forum’s annual gender parity ranking, returning to the top 100 for the first time since 2016 after improvements in female economic participation and workforce opportunity.

Brazil’s Lula Seeks Chinese Investment in Critical Minerals

Brazilian President Luiz Inácio Lula da Silva identified Chinese investors as potential partners in the country’s rare earths and critical minerals sector as Brasília seeks new sources of capital for strategic resource development.

US Prosecutors Allege $300 Million in Restricted AI Servers Was Smuggled to China

A California technology executive has been arrested over allegations that hundreds of millions of dollars in restricted Nvidia servers were routed to China through Malaysia and Singapore, highlighting efforts to circumvent US export cont...

China’s Manufacturing Sector Returns to Expansion in September

Caixin data showed Chinese manufacturing activity moved back into expansion territory in September as production improved, although weak employment and rising input costs continued to pressure industrial margins.

China Sends Forces to Russia for Tsentr-2026 Joint Military Exercises

Chinese military personnel have joined large-scale Tsentr-2026 exercises in Russia alongside forces from other Shanghai Cooperation Organisation members, with the drills drawing on operational lessons from the war in Ukraine.

Hong Kong Channels Nearly Two-Thirds of Mainland China’s Outbound Investment

Hong Kong accounted for close to two-thirds of mainland Chinese outbound investment over the reported period as companies increasingly use the financial center to route capital into overseas markets, particularly across Asia.

BYD Blade Battery Plant in Shaanxi Reaches Full Production

BYD’s Blade Battery manufacturing base in Shaanxi has reached full-scale production, strengthening the electric vehicle group’s domestic supply chain and expanding its capacity in batteries and energy storage.

Chinese Industrial Profit Growth Slows to 4.2% as Unpaid Bills Surge

Industrial profit growth weakened to 4.2% as accounts receivable at major enterprises rose 9% to 29.5 trillion yuan and the average collection period extended beyond 72 days, highlighting mounting corporate cash-flow pressure.

People’s Bank of China Expands Targeted Financial Support as Beijing Pursues 4.5%–5.0% Growth

China’s central bank has introduced new liquidity and structural financing measures aimed at high-end manufacturing, technology innovation and equipment renewal after the State Council revised its 2026 growth target to 4.5%–5.0%.

China Unveils New Property Stimulus to Support Housing Demand Before Fourth Quarter

Chinese regulators have announced fresh financing measures and looser homebuyer restrictions in major cities as Beijing intensifies efforts to stabilize the property market and revive residential demand.

Hong Kong Tourism Board Launches Month-Long Halloween Campaign

The Hong Kong Tourism Board has expanded Halloween into a month-long citywide program featuring events and transport incentives designed to extend visitor stays and increase spending after Golden Week.

Hong Kong Athletes Win Historic Asian Games Gold Medals

Hong Kong athletes secured a landmark tennis gold and swept youth windsurfing titles at the Asian Games, adding to the city’s record medal performance and reflecting sustained investment in elite sport.

Wanwei Intelligent Raises $1.29 Million in Discounted Share Placement

Hong Kong-listed Wanwei Intelligent Technology has raised $1.29 million through a share placement priced at a 16% discount, highlighting continued financing pressure on smaller listed companies.

John Lee Unveils Hong Kong’s First Five-Year Plan to Deepen National Integration

Chief Executive John Lee has outlined Hong Kong’s first Five-Year Plan, aiming to align the city more closely with Greater Bay Area development while strengthening its role as an international financial, technology and infrastructure hub.

Hong Kong Raises Minimum Wage for Foreign Domestic Helpers to HK$5,220

The government has increased the Minimum Allowable Wage for foreign domestic helpers by 2.35% to HK$5,220 a month for contracts signed from October 3, while leaving the mandatory food allowance unchanged.

Golden Week Visitors Lift Hong Kong Restaurant Revenue by 10%

Hong Kong’s food and beverage sector recorded a 10% increase in business during the first two days of the National Day holiday as mainland visitor arrivals exceeded 2018 pre-pandemic levels.

Hong Kong Airport Authority Restructures Eleven Skies to Target Premium Tourism

The Airport Authority will rebrand and reposition the Eleven Skies retail and entertainment complex before seeking new investors and tenants, shifting the project toward higher-spending regional and international travelers.

Hang Seng Falls 2.6% in Steepest One-Day Drop in Six Months

Hong Kong’s benchmark index closed below 24,000 after falling 2.6%, pressured by two-decade-high US Treasury yields, Middle East tensions and the absence of southbound mainland buying during the Golden Week holiday.

Cathay Pacific Expands Hong Kong-Madrid Route to Daily Service

Cathay Pacific will increase direct flights between Hong Kong and Madrid to daily service from late October, expanding European connectivity and strengthening Hong Kong International Airport’s role as an Asia-Pacific transfer hub.

Hong Kong Tightens Green Maritime Fuel Rules to Support Shipping Competitiveness

Transport regulators have introduced new standards for green maritime fuel bunkering as Hong Kong seeks to attract lower-emission shipping and preserve its position as a leading regional port and logistics centre.

Hong Kong to Host 6,200 Exhibitors at Major Autumn Technology Fairs

More than 6,200 exhibitors from 28 countries are expected at four Hong Kong technology and innovation fairs in mid-October, with artificial intelligence, robotics, electronics and smart-city applications among the main themes.

Colliers Forecasts 8% to 10% Rise in Hong Kong Home Prices This Year

Property consultancy Colliers has maintained its forecast for an 8% to 10% increase in Hong Kong residential prices over the full year, citing resilience in the market despite elevated borrowing costs.

Hong Kong Wealth Managers Adapt as Younger Affluent Clients Prioritize Global Mobility

A Savills report says younger high-net-worth investors in Hong Kong are placing greater emphasis on lifestyle access, wellness and international mobility, prompting private banks and family-office advisers to broaden their services.

Hong Kong Retail Sales Rise 8.5% in First Eight Months

Hong Kong retail sales increased 8.5% year-on-year from January through August, supported by returning international visitors and stronger domestic consumption.

China and Hong Kong Break Up Major Underground Banking Network

Mainland and Hong Kong authorities have dismantled a cross-border underground banking syndicate operating across Guangdong and the special administrative region as Beijing tightens controls on illicit capital flows.

Caixin Commentary Calls for Policy Shift to Address Youth Employment Pressure

A Caixin commentary has urged Beijing to place greater emphasis on household consumption as automation and weakness in the property sector increase pressure on employment prospects for young graduates.

Chinese Researchers Say Lidar System Could Track F-35C Stealth Fighters

Chinese defence researchers have published simulations suggesting a missile-mounted single-photon lidar system could detect and track F-35C aircraft at distances of more than 60 kilometres.

Zhu Zhongming Elected Mayor of Shanghai

Shanghai’s municipal legislature has elected former vice finance minister Zhu Zhongming as mayor, placing an experienced fiscal official in charge of China’s leading financial centre.

US Firms Narrow Insider Trading Lawsuit Involving Futu and Tiger Brokers

American market makers have scaled back a civil lawsuit alleging more than $100 million in insider trading connected to Chinese offshore brokerages Futu and Tiger Brokers.

Golden Week Travel Surges as China’s Outbound Flight Capacity Recovers

Early Golden Week data show strong domestic rail travel and a sharp rebound in outbound flights, benefiting destinations across Southeast Asia, Europe and Australia.

CATL and Gotion Expand Battery Manufacturing Presence in Europe

CATL has begun production at its Hungary plant while Gotion High-Tech deepens its partnership with Volkswagen, strengthening Chinese battery makers’ manufacturing footprint inside the European market.

China Conducts Joint Military and Coast Guard Patrols Near Scarborough Shoal

People’s Liberation Army and China Coast Guard units have carried out coordinated readiness patrols around Scarborough Shoal as maritime tensions with the Philippines continue to intensify.

China Launches Anti-Dumping Probe Into EU Chemical Imports Ahead of Trade Talks

The Commerce Ministry has opened an anti-dumping investigation into European para-nitrotoluene imports just before sensitive trade negotiations over planned European tariffs on Chinese electric vehicles.

China Says Generative AI User Base Has Surpassed 700 Million

China’s generative artificial intelligence user base exceeded 700 million in the first half of the year, supported by large-scale research investment and growing commercial use across industries.

HKG Times