Hong Kong's finance chief, Paul Chan, announced the city will raise its 2026 full-year economic growth forecast after a 5.1% expansion in H1 2026. This is driven by strong global AI product demand and services exports, alongside a pledge to promote yuan use. Chan cautioned on geopolitical risks and US dollar interest rates.
Hong Kong's Northern Metropolis is poised to drive future economic growth, with plans to optimize public housing sizes, increase private housing unit minimums, and raise public open space standards by 30% to 3.5 sqm per capita.
Hong Kong's finance chief, Paul Chan Mo-po, stated the city can serve as a "super converter" for technical standards and innovations between mainland China and the global community, leveraging its international reputation for quality and trust.
Saudi tech firm Elm, backed by the Public Investment Fund, visited Hong Kong for the first time to explore co-developing a smart city and establishing a regional market gateway. The visit coincided with the LEAP East 2026 tech conference.
Hong Kong's Financial Secretary Paul Chan will lead a business delegation to Saudi Arabia later this year, following the city's hosting of the LEAP East 2026 tech conference. The trip aims to boost ties and explore collaboration under Saudi Arabia's Vision 2030.
Mainland Chinese tech firms are leveraging Hong Kong as a "strategic adaptation ground" to evolve into multinational corporations. By attracting international capital and talent, and developing global brands and sales networks, these companies are establishing new growth engines and connecting to global markets, governance, and R&D.
Hong Kong is increasingly seen by mainland Chinese tech firms as a "strategic adaptation ground" for global expansion, according to the city's finance chief. These companies are leveraging Hong Kong for international capital, talent, and brand building to become true multinational enterprises.
Hong Kong's first five-year plan, set to be finalized by end of 2026, will focus on economic upgrading, leveraging AI for job creation, and promoting inclusive development. Public consultation begins Monday.
Hong Kong's Financial Secretary Paul Chan stated the Middle East war has had a limited impact on local inflation, citing the city's service-based economy and stable energy from mainland China as mitigating factors.
Hong Kong's Financial Secretary Paul Chan urged deeper cooperation with Europe, citing pragmatic opportunities in trade, investment, and innovation. He noted European interest in Hong Kong's financial market and a desire to diversify away from US dollar assets.
Hong Kong's finance chief, Paul Chan, noted a significant shift in French investor sentiment, citing strong market performance and an improved geopolitical climate, particularly following Donald Trump's visit to Beijing.
Hong Kong Financial Secretary Paul Chan began a five-day European tour in Paris to attract global capital. He met with the French asset management association and a think tank, signaling interest in expanding Hong Kong's financial hub status.
Hong Kong recorded a 17 per cent growth in investment in the first quarter of the year driven mainly by machinery purchases and construction-related activities, according to the city’s finance chief, reflecting a steadily improving property market. Financial Secretary Paul Chan Mo-po on Sunday acknowledged a gap in perceived economic growth among residents working in different sectors as the city recorded its fastest quarterly GDP rise in nearly five years of 5.9 per cent. But he remained...
The Hong Kong Exchanges and Clearing (HKEX) is pressing ahead with the relaunch of gold futures as mainland China’s appetite for the metal continues to grow. The city would continue to introduce new gold products and facilities to capture the growing opportunities of the gold market, Financial Secretary Paul Chan Mo-po said on Thursday at the LME Asia Metals Seminar 2026 in Hong Kong. The HKEX planned to relaunch gold futures in coming months and seek market feedback to refine the products,...
As Hong Kong prepares for another major push in public works, one question deserves far more attention than it has received: are we buying infrastructure in a way that is sustainable for the construction industry and the public as a whole? In his February budget, Financial Secretary Paul Chan Mo-po announced that HK$150 billion (US$19.1 billion) will be transferred from the Exchange Fund to support the Northern Metropolis and other infrastructure projects in the coming two years. This major...
Financial Secretary Paul Chan's budget passed the Legislative Council, but lawmakers' concerns about fiscal plans are valid. The budget surplus was achieved only by counting bond proceeds as revenue and clawbacks from seed capital funds. Chan plans to use HK$150 billion from the Exchange Fund to increase bond issuance for the Northern Metropolis megaproject, raising concerns about the city's financial stability.
Hong Kong's economy is expected to see its strongest quarterly growth in five years, driven by a 17% rise in visitor numbers and increased retail and catering activity, according to Financial Secretary Paul Chan Mo-po.
Hong Kong will introduce a two-month subsidy of 50 HK cents per litre for liquefied petroleum gas (LPG) used by taxis, minibuses and school buses from May, amid soaring fuel prices. A previously announced diesel subsidy will take effect on Thursday.
Hong Kong’s financial chief has revised the city’s fiscal surplus for the previous year to HK$11 billion (US$1.91 billion), nearly four times the original estimate, saying the ongoing Middle East conflict had a limited impact on the economy with gross domestic product (GDP) growth remaining strong in the first quarter. Financial Secretary Paul Chan Mo-po also dismissed concerns that increased bond issuance to fund the Northern Metropolis megaproject would burden future generations as “overly...
Hong Kong will introduce a two-month subsidy for liquefied petroleum gas used by taxis, minibuses and school buses from May, amid soaring fuel prices. The subsidy rate will be 50 HK cents per litre, benefiting approximately 16,900 taxis, 3,440 minibuses and 170 school buses. A previously announced diesel subsidy will take effect on Thursday.
Hong Kong has raised more than HK$140 billion (US$17.87 billion) in IPOs as of April, maintaining its position as the world's top fundraising hub. Financial Secretary Paul Chan said average daily turnover exceeded HK$280 billion since March. However, industry experts warn Hong Kong could lose its lead to the US this year due to expected mega IPOs from companies like OpenAI and SpaceX.
Hong Kong Financial Secretary Paul Chan Mo-po recently said the city could rise to become the world’s No 2 financial centre in 10-15 years. That is the right kind of ambition. In a world being reshaped by geopolitical fragmentation, China’s growing global weight and rapid technological change, Hong Kong must think beyond remaining internationally competitive to exercising global leadership. But ambition alone is not enough. Hong Kong has spent decades proving it can operate at the world’s...
Hong Kong is set to announce on Monday a new batch of “strategic enterprises” establishing a presence in the city, including several firms with market capitalisations of up to HK$100 billion (US$12.8 billion), the finance chief has revealed. Writing in his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said the new partners were in high-growth sectors, including life and health technology, the low-altitude economy, artificial intelligence (AI), new energy materials and...
