Hogmanay events cancelled as Covid rules tightened

Edinburgh's Hogmanay events have been cancelled and football matches will be effectively spectator-free as part of tough new Covid rules in Scotland.

All outdoor events will be limited to just 500 people to help slow the spread of Omicron.

Indoor events such as concerts will be limited to 200 people if they are seated, or 100 for standing.

The new restrictions come into force on Boxing Day.

They will be in place for three weeks - although there will be no limit to how many people can meet up at Christmas.

The Old Firm derby between Celtic and Rangers on 2 January and the Edinburgh derby between Hearts and Hibs the following day are among the football fixtures that will be affected by the new rules.

The government fears that last Sunday's League Cup Final in front of a capacity crowd at Hampden may have been a "super spreader" event, with Deputy First Minister John Swinney saying he regrets not making the decision to play matches without spectators sooner.

Celtic have asked for the Scottish Premiership's three-week winter break - which is due to start after the Edinburgh derby on 3 January - to be brought forward to "maximise the prospect of all supporters being able to attend matches and support the game they love."

All of the major Hogmanay events in Edinburgh - including the street party, the torchlit precession and the midnight firework display - have now been cancelled, as have many other events in towns and cities across the country.

Physical distancing of 1m will now need to be in place for all events that do go ahead under the restrictions.

Pubs and other hospitality venues selling alcohol will need to reintroduce table service from 27 December.

And indoor hospitality and leisure venues will be required to ensure there is a 1m distance between groups of people who are attending together - which could force nightclubs to close.

First Minister Nicola Sturgeon said: "This will of course make sports matches, including football, effectively spectator-free over this three week period.

"And it will also mean that large-scale Hogmanay celebrations - including that planned here in our capital city - will not proceed".

Wales had already announced plans for sporting events to be held without crowds from Boxing Day, and London has cancelled its New Year's Eve event in Trafalgar Square.

Many concerts, theatre productions and other events had already been cancelled voluntarily in Scotland.

The Celtic-Rangers match on 2 January will be one of the fixtures affected by the new rules


Omicron is now thought to account for 62.9% of all Covid cases in Scotland, with the first minister saying there was "still no compelling evidence that Omicron is intrinsically milder than previous strains".

Ms Sturgeon said the much higher transmissibility of the new variant meant that large gatherings "have the potential to become very rapid super-spreader events, putting large numbers at risk of getting infected very quickly".

She added: "Limiting these events helps reduce the risk of widespread transmission. It also cuts down the transmission risks associated with travel to and from such events

"And these large events put an additional burden on emergency services, especially the police and ambulance services.

"At a time when these services are already under severe pressure and also dealing with high staff absences, limiting large scale events will help them focus on delivering essential services to the public."

Pubs will need to reintroduce table service from 27 December


Ms Sturgeon stressed that the priority for the government was to ensure that schools re-open as normal after the Christmas holidays.

And she again urged people to cut their contacts with people in other households as much as possible ahead of Christmas, and to stay at home as much as possible.

The Federation of Small Business said the new measures would make trading "drastically more difficult for huge numbers of small businesses in Scotland".

Its policy chair, Andrew McRae, said: "The social distancing restrictions will mean shops and hospitality firms can serve fewer customers.

"And the changes to events, such as sports matches and Hogmanay celebrations, will have a knock-on impact on local economies."

The Scottish Licensed Traders Association said the restrictions would be a "knockout blow" to many businesses that were already struggling because of the pandemic.

The Scottish government will now double the £100m it had already pledged to businesses hit by new Omicron restrictions.

And Ms Sturgeon said recent announcements by the UK Treasury "give us additional spending power now of £175m" - bringing the total to £375m, all of which will be allocated to business support.


While there are no changes to the rules and advice for Christmas gatherings, significant new restrictions will take effect as we head towards the new year.

Edinburgh's Hogmanay is off for the second year in a row and big football matches can only be played before the smallest of crowds.

The return of one metre distancing indoors will reduce the capacity of pubs and restaurants, theatres and cinemas - reducing their potential turnover too.

There is fresh financial help worth £275m from the Scottish government which draws on additional funding announced by the UK Treasury at the weekend.

Even though that's on top of an initial £100m earmarked by Holyrood ministers last week - it is unlikely to be nearly enough to offset the economic damage restrictions will cause.

The first minister has renewed calls for the Chancellor to re-introduce a furlough scheme - something the Treasury has not included in the support package it announced today.

Scottish Conservative leader Douglas Ross said he understood the "frustration and anger" that many people would have over the new restrictions, but urged people to come forward for vaccination as the "best way out of this".

He also called for household contacts of Covid cases to be allowed to end their self-isolation if they test negative, saying the current rules were well-intentioned but could "grind our transport network, our economy and public services to a halt".

ScotRail cancelled more than 100 trains on Monday, largely because of crew members being affected by Covid.

Ms Sturgeon said the government was "actively considering" changing household isolation rules once the booster campaign is complete, but said it would be "counter-productive" to do so while case numbers are rising.

Meanwhile Scottish Labour's Anas Sarwar said there should be "much more significant financial support" for businesses and a "furlough-type scheme" for sectors which are effectively shut down.


Nicola Sturgeon says Scotland's large-scale Hogmanay celebrations "will not proceed"


Read MoreShow Less
ShareEmailLink

China Accelerates Tech Push from Reusable Rockets to Deep-Sea Exploration

Beijing expands capabilities in aerospace and underwater domains as it seeks to close the technological gap with the West
China is rapidly advancing across multiple high-tech fronts—from reusable-rocket development to deep-sea exploration and polar research—reflecting a concerted effort to close the technological gap with established Western leaders.

In the aerospace sector, Chinese private and state-backed firms are making significant strides.

A recent test of the Tianlong-3 reusable rocket included a full-scale first-stage thrust test that surpassed 1,000 tonnes, signifying a material leap in logistically scalable launch capability.

Analysts at the United States Space Force have voiced concern at Beijing’s speed, particularly in sectors that underpin modern military and commercial space operations.

Under the sea, China’s 14th Five-Year Plan emphasises deep-sea technologies and strategic presence in the Arctic, with the concept of an “Ice Silk Road” among the new infrastructural aims.

China is deploying autonomous underwater vehicles, seafloor monitoring systems and support platforms to assert its ambitions in the global marine technology domain.

The navigation-satellite sector presents a parallel front: after the “Yinhe incident” exposed vulnerability to external positioning systems, China developed its BeiDou system and is now promoting global uptake.

Beijing sees satellite navigation, launch logistics and maritime technology as interconnected pillars in its drive for national-security autonomy and industrial leadership.

These efforts come amid broader geopolitical dynamics.

As Beijing invests billions into dual-use technologies—combining commercial applications with strategic objectives—the West is watching closely.

The rapid development of reusable rockets, large satellite constellations and deep-sea infrastructure highlight China’s ambition to shift from technology buyer to technology architect.

In short, China’s comprehensive push into aerospace, navigation and ocean technology reflects a long-term strategy: to reshape competitive advantage, assure independent access to critical domains and assert a more multipolar technological order.
Read MoreShow Less
ShareEmailLink

Canada’s New Immigration Policy Offers Little Relief for Hongkongers Awaiting Permanent Residency

While a fast-track for some work permit holders is proposed, quota cuts and extended backlogs leave Hongkongers still facing years of delay
Canada’s recently proposed immigration framework has prompted concern among Hongkongers with pending permanent residency applications, as key sector quota reductions and stretched processing periods mean many will remain in limbo into 2027 and beyond.

The new plan, introduced in the federal budget following Prime Minister Mark Carney’s election in March, reduces the number of new permanent residents to 380,000 between 2026 and 2028, down from 395,000 in 2025 and reviving concerns that backlogs will continue to grow.

Under the budget, a one-off fast-track is proposed for 33,000 work-permit holders, offering hope to some applicants but leaving others uncertain about eligibility and implementation details.

For Hongkongers — who first benefited from special pathways introduced in 2021 in response to Beijing’s national-security measures — the situation remains particularly challenging.

Processing delays have extended such that applications submitted through the Hong Kong-special public-policy streams may now be processed only after 2027, according to immigration authorities.

Meanwhile, the “humanitarian” category under which many Hongkongers applied will be cut to 5,800 places in 2026, then 4,000 in 2027 and 2028, signalling a significant decline in openings for that cohort.

Immigration advocates say the introduced fast-track measure does not mitigate the broader systemic issues: the base quota reductions, rising application volumes and fewer seats in Hong-Kong-specific pathways mean hopeful applicants continue to wait.

Many Hongkongers in Canada hold temporary status while their applications await adjudication, complicating employment, study and settlement plans.

Despite the challenges, the policy shift underscores Canada’s intent to balance economic migration needs with public sentiment and infrastructure pressures.

For those Hongkongers who meet the fast-track criteria, the new measure offers a clearer path.

At the same time, thousands of others remain stuck between temporary and permanent status as the immigration queue grows.

In the months ahead, attention will focus on how the government implements the fast-track initiative and whether further policy refinements will prioritise timely resolution for long-waiting applicants from Hong Kong.
Read MoreShow Less
ShareEmailLink

Hong Kong Luxury Rentals Poised for 3–5% Rise as Expats Return

Savills sees strengthening demand from Western expatriates and mainland talent tightening supply in prime rental market
Leasing activity in Hong Kong’s luxury residential sector is showing signs of renewed strength, with a property consultancy estimating rents may climb between three and five per cent next year.

The uptick is attributed chiefly to a surge of returning Western expatriates and local professionals, arriving as the city’s wider business environment recovers.

The research firm noted that leasing transactions are expected to exceed the 660 recorded last year, indicating a sustained rebound in high-end rental demand.

Analysts also pointed to a tightening in prime-unit supply as major projects undergo renovations, further bolstering upward pressure on rents.

Tenant profiles are evolving: European expatriates working in finance are now paying HK$70,000 to HK$80,000 per month for larger units in Mid-Levels, while Indian technology professionals are seeking homes in Western Mid-Levels at budgets of HK$50,000 to HK$60,000.

Meanwhile, mainland-Chinese professionals benefitting from talent-recruitment schemes are active in emerging areas such as Nam Cheong and Olympic Station, often with budgets around HK$30,000 to HK$40,000.

The resurgence in luxury leasing is supported by broader corporate momentum.

Official data show the number of local companies registered in Hong Kong reached 1.5 million by July, while overseas enterprises, including those from the US and Europe, are establishing new regional bases in the city.

This revitalised corporate presence is translating into housing demand in the upper segment.

Despite the positive signals, analysts stress that rent growth will remain “stable to gently rising” and largely dependent on how supply dynamics evolve.

With prime stock limited and tenant relocation still rising, Hong Kong’s luxury rental market appears well-positioned to make a sustained recovery in 2025.
Read MoreShow Less
ShareEmailLink

Hong Kong’s 2025 LegCo Election Sees 161 Candidates and Unprecedented New Faces

Election on December 7 will feature full slates, a record rate of retirements and heightened competition in geographic constituencies
Hong Kong is heading into its December 7 Legislative Council election with 161 candidates confirmed following the close of nominations, marking a nearly 5 per cent increase over 2021 and guaranteeing that all seats will be contested.

The nomination count comprised 51 for the 20 directly elected geographical seats, 60 for the 30 functional-constituency seats and 50 for the 40-seat Election Committee constituency.

The geographic constituencies—where ordinary residents vote—are expected to draw the fiercest competition, with five or six contenders in each district.

By contrast, the functional and Election Committee seats showed fewer entrants, signalling a shift in participation dynamics.

At least 35 current lawmakers, nearly 40 per cent of the chamber, have chosen not to seek re-election, creating the largest wave of retirements in the legislature’s history and clearing space for newer faces.

Olympic gold medallist Vivian Kong is among those entering the race, standing for the tourism functional constituency and reflecting the government’s emphasis on injecting fresh talent.

Concurrently, the administration is rolling out 39 publicly held election forums—one per constituency—to boost engagement among electors, a new campaign element in this cycle.

The registration and electoral office has scheduled post-nomination vetting by the Candidate Eligibility Review Committee, which will publish the list of valid candidates within 14 days.

With polling day less than one month away, attention is now on whether the increased competition in territorial seats and the generational turnover among incumbents will translate into higher voter turnout and electoral momentum.

The election is being held under the updated electoral system introduced in 2021, where 20 of the 90 seats are directly elected, 30 seats are from functional constituencies and 40 are chosen by the Election Committee.

The level of contestation across all categories suggests this cycle may be the most competitive yet within the established rules.

Observers will in particular monitor how the influx of new entrants and candidate diversity affect the dynamics of the legislature’s next term.
Read MoreShow Less
ShareEmailLink

China’s BeiDou Navigation System Emerges as Full-Scale Rival to US GPS

With global coverage and over one trillion daily location checks, BeiDou advances China’s bid to reshape satellite-navigation power dynamics
China’s privately-owned state constellation, known as the BeiDou Navigation Satellite System (BDS), has emerged as a fully operational global alternative to the United States-run Global Positioning System (GPS), signalling a strategic shift in satellite navigation.

China’s State-run bodies report that BeiDou now processes over one trillion location checks each day and generated 575.8 billion yuan (roughly US$80 billion) in economic output in 2024.

Having attained worldwide service status, the system is now compatible with 288 million domestic smartphones and is embedded into critical infrastructure from drones to precision agriculture.

Beijing is actively accelerating international outreach.

At an applications summit, Vice-Premier Ding Xuexiang announced plans to establish overseas BeiDou demonstration centres across sectors such as public safety, precision farming and disaster response.

Internationally, Beijing has already struck cooperation agreements with at least several dozen nations—such as the United Arab Emirates, Saudi Arabia, Pakistan and Thailand—to integrate BeiDou in transport, logistics, land surveying and smart-city projects.

Analysts note that China is leveraging the constellation as an element of its broader Belt and Road Initiative, offering the service free of charge in many markets and coupling it with infrastructure investment.

Technically, BeiDou also presents distinctive capabilities.

Its constellation now exceeds 50 satellites, giving it greater orbital redundancy than GPS, and it offers two-way messaging features not found in the U.S. system.

Some academic studies suggest the system provides equal or better performance in select regions, particularly under the context of China’s dense monitoring-station network.

The United States Government’s Space Force recognised BeiDou’s rising technical competiveness in a 2023 advisory.

Nonetheless, BeiDou still faces significant challenges in dislodging GPS’s longstanding dominance.

GPS remains deeply integrated across global supply chains, aviation, maritime navigation and consumer technology.

Many devices worldwide are engineered first for GPS compatibility and many international users continue to rely on multi-system receivers that include BeiDou, GPS, Europe’s Galileo and Russia’s GLONASS for redundancy.

The strategic implications are nonetheless profound.

By establishing an alternative navigation backbone, China aims to reduce reliance on U.S. systems and expand its technological influence, particularly among developing economies.

For global device-makers, logistics firms and infrastructure planners, the choice of satellite fleets now matters not just technically but geopolitically.

BeiDou’s rise therefore marks the dawn of a more multipolar era in positioning, navigation and timing infrastructure.

China has announced further advances under a “2035 plan” for BeiDou-3 enhancements, promising centimetre-level positioning, deeper integration with autonomous systems and expanded global monitoring stations in the Southern Hemisphere.

The constellation’s export ambition now parallels its domestic dominance, underscoring how navigation systems are becoming terrain of global technology competition.
Read MoreShow Less
ShareEmailLink

Chinese Gold Miners Eye Windfall as Bullion Rally Gains Momentum

Gold producers such as Zijin Mining stand to benefit amid forecasts of extended bullion gains from UBS and Schroders
Chinese gold producers are poised to capture significant upside as the gold price regains momentum and major global investment houses signal further upside.

Prices recently climbed back above US$4,100 an ounce following a sharp correction from a record high near US$4,381.

Swiss bank UBS Global Wealth Management forecasts gold will hold around US$4,200 over the next twelve months and could reach US$4,700 if geopolitical or financial-market risks intensify.

UK asset manager Schroders highlights strong central-bank buying and rising government debt as sustained drivers of gold demand.

For gold miners, the price surge translates into improved margins, enhanced profit prospects and greater investment appeal.

China’s largest gold producer, tracked shares of Zijin Mining Group, has already rallied to a near all-time high as investors anticipate stronger earnings.

Analysts note mining stocks tend to amplify movements in bullion, making Chinese producers a focal point for gains if the rally persists.

China itself is a major driver of the trend.

The World Gold Council reports that improved sentiment, central-bank accumulation and arbitrage flows are boosting the nation’s investment demand for gold.

However, some domestic signals such as lower bar and coin demand suggest a rotation into equities may be underway, even as institutional appetites remain strong.

With costs largely fixed in gold production and many firms operating with streamlined balance sheets, Chinese producers may see disproportionate benefits from rising bullion prices.

The sector could thus become a valuable lever for investors positioning for continued gains in the precious-metals complex.
Read MoreShow Less
ShareEmailLink

ByteDance Launches Ultra-Affordable AI Coding Agent at Just US$1.30 for First Month

Volcano Engine’s new ‘Doubao-Seed-Code’ model enters China’s coding AI price war with 9.9 yuan introductory offer
ByteDance’s cloud-unit Volcano Engine has introduced a new AI-powered coding assistant, priced at just 9.9 yuan (approximately US$1.30) for the first month of service, marking a significant move in China’s competitive developer-tools market.

The model, branded as Doubao‑Seed‑Code, will move to a standard subscription of 40 yuan per month thereafter, according to the company.

Announced on November 11—the day of China’s Singles’ Day shopping festival—the offering underscores ByteDance’s strategy to expand its artificial-intelligence ecosystem domestically and globally.

The timing is notable given intensifying competition among Chinese technology firms to gain ground in generative-AI and developer tooling.

ByteDance officials stated that this release builds on the rapid growth of its Doubao chatbot platform, which doubled in usage over the previous six months, reflecting accelerating AI adoption among Chinese developers.

The company further claims that the new model achieved benchmark results on the SWE-Bench Verified test, placing it on par with global systems such as Claude Sonnet.

Industry observers view the launch as part of a broader trend in which Chinese vendors are driving down access costs to AI development tools, effectively initiating a price war in the domestic market.

The move also follows access restrictions imposed by competitors abroad—most notably the U.S. start-up Anthropic, which in September updated its terms to block Chinese-sub-company access.

For developers, the offering signals a potential shift in how AI-coding tools are monetised, lowering barriers to entry and expanding usage in smaller teams and educational settings.

For ByteDance, the model supports its dual ambitions of building a leading AI-toolchain and an affordable platform ecosystem.

The 9.9-yuan introductory rate may function both as a loss-leader and as a means to rapidly scale user adoption ahead of broader enterprise-market rollout.

As the model launches, key questions remain around how ByteDance will manage computing-cost scalability, data-privacy alignments and enterprise-governance capabilities—areas where global rivals typically emphasise compliance and technical control.

Nonetheless, the pricing move affirms China’s growing role in commoditising AI-driven developer services and sets a benchmark for competitive dynamics in the region’s cloud-AI sector.
Read MoreShow Less
ShareEmailLink

Hong Kong Officials Launch Hair-Styling Election Drive to Boost Turnout

Security, police, and customs chiefs star in Cantonese pun-filled videos urging voting ahead of the December 7 Legislative Council election
Hong Kong’s Security Bureau, police, and customs authorities have launched a light-hearted public campaign to encourage voter participation ahead of the Legislative Council election on December 7. The initiative features senior officials in humorous videos getting hair makeovers while delivering Cantonese puns about civic duty.

Among those featured are Secretary for Security Chris Tang Ping-keung, Commissioner of Police Joe Chow Yat-ming, and Commissioner of Customs and Excise Chan Tsz-tat, who appear alongside their deputies in a series of short clips.

In one video, Chow jokes that “the colour of your hair doesn’t matter; knowing how to vote is what’s most important,” after comically debating which colour to dye his hair before deciding to keep it natural.

The campaign’s slogan plays on the Cantonese words for “hair” and “law,” which share a similar pronunciation, to promote the message that citizens should focus on fulfilling their civic responsibilities rather than their appearance.

The effort is part of a wider push to boost voter turnout following historically low participation in recent elections.

Authorities have paired the videos with outreach initiatives, including letters from ministers urging civil servants to vote and moves by major companies to grant employees paid leave on polling day.

Officials hope the creative approach will resonate with younger residents and rekindle interest in public engagement as the city prepares for the December 7 poll under the “patriots-only” electoral framework.
Read MoreShow Less
ShareEmailLink

Chinese Investment Mogul’s Divorce Winds Up With 536 Million Yuan Payout and 50-50 Equity Split

Beijing court orders Zhao Bingxian to divide shares of major investment firm equally with ex-wife Lu Juan after fifteen-year legal battle
A Beijing court has ruled that Zhao Bingxian must pay 536 million yuan (approximately US$75 million) to his ex-wife, Lu Juan, and that the two must equally share the equity of Beijing Zhongzheng Wanrong Investment Group.

The judgment, issued by the Beijing No 3 Intermediate People’s Court in early November, resolves a divorce dispute that spanned fifteen years.

Zhao, long dubbed “China’s Warren Buffett” for his investment acumen, chairs Shenzhen-listed Shandong Wohua Pharmaceutical and holds controlling interests through Zhongzheng Wanrong Investment.

The court’s decision mandates a fifty-fifty split of their joint holdings in the firm, while confirming Lu’s claim to roughly 536 million yuan based on valuation of the shares.

Lu, a Shanghai-native from an investment-savvy family, married Zhao in 1988 after meeting him during his service in the People’s Liberation Army.

Their joint venture in the early 1990s expanded into a substantial corporate empire, with the couple’s assets becoming deeply entwined with their business ventures, the court noted in its ruling.

The outcome was publicly disclosed on 4 November by Wohua Pharmaceutical, which confirmed the second-instance judgment upheld the earlier district-court ruling on their shareholding division.

The decision effectively means neither party has a controlling stake in Zhongzheng Wanrong, altering the company’s governance structure.

The ruling underscores how China's courts are increasingly willing to enforce large-scale asset division in family firms, even when complex shareholding arrangements are involved.

It also raises questions for minority shareholders of family enterprises about corporate control when ownership is halved as a result of personal litigation.
Read MoreShow Less
ShareEmailLink

China’s Moonshot AI Unveils Kimi K2 Thinking, Challenging Western AI Front-Runners

Beijing-based startup releases open-source reasoning model said to surpass GPT-5 and Claude Sonnet 4.5 at a fraction of the cost

A Beijing-based artificial intelligence start-up, Moonshot AI, has launched a new open-source model named Kimi K2 Thinking, which it claims outpaces leading closed-source systems from the United States in reasoning, coding and “agent” tasks.

The model is presented as a “thinking agent” capable of executing multi-step reasoning and interacting with software tools, such as search engines, code execution environments and web APIs. Moonshot says it trained the model for approximately US$4.6 million – a cost that analysts note is dramatically lower than those incurred by proprietary rivals – and it has already become the most-used model by developers on the platform Hugging Face.

In benchmark tests published by independent indexers, Kimi K2 Thinking reportedly exceeded the performance of GPT‑5 and Claude Sonnet 4.5 — among the world’s most advanced models — in metrics assessing reasoning depth, coding fluency and autonomous tool use. Some analysts say the model may represent another “DeepSeek moment,” referencing a previous Chinese model launch that disrupted expectations of U.S. AI leadership.

The release is being viewed as a strategic signal in the global AI race, particularly given its open-source nature, comparatively low cost and competitive results. Moonshot’s architecture is reported to feature around 1 trillion parameters in a mixture-of-experts design, supports long-context windows and enables dynamic tool orchestration, according to documentation posted on Hugging Face and company blogs.

Industry observers caution that while benchmark results and open access are notable, real-world adoption, regulatory oversight, safety guard-rails and long-term robustness remain in early stages. However, the model’s emergence intensifies pressure on Western vendors, as it highlights how low-cost, high-capability open-weight models are gaining traction rapidly within the Chinese ecosystem and potentially beyond.

With Kimi K2 Thinking now publicly available under an open licence, attention will focus on how quickly developers integrate it, how it scales commercially and how rival labs respond. The model marks not simply a technical milestone but a shift in the competitive landscape — one in which open-source reasoning agents built in China are asserting influence on the global stage.

Read MoreShow Less
ShareEmailLink

Hong Kong Reaffirms Status as Shipowning Centre Even as US Builds Its Own Fleet

Despite shifting geopolitics and registry challenges, industry leaders say Hong Kong remains key in global maritime ownership while the United States pursues its own maritime ambitions
Hong Kong continues to hold a meaningful role as an international ship-owning centre, even as some industry participants highlight the United States’ potential rise in maritime capacity.

An analysis published by a leading maritime data provider emphasises that Hong Kong’s shipping registry, services ecosystem and proximity to the mainland’s cargo hub still underpin its relevance.

While data show the number of oceangoing vessels registered in Hong Kong has declined by over 8 per cent since 2021 — from around 2,580 to 2,366 — the registry remains ranked fourth globally in terms of gross tonnage and maintains a comprehensive maritime services cluster that supports ship-finance, insurance and arbitration.

Hong Kong’s government recently affirmed its commitment to strengthening the city’s maritime status via its Maritime and Port Development Strategy, which sets out multiple action measures to enhance competitiveness through innovation, green shipping and logistics integration.

Industry insiders recognise growing external pressures: pressures from international sanctions, U.S. tariffs and rising national-security scrutiny are prompting some owners to diversify flags.

However, many retain Hong Kong registration to maintain proximity to China’s manufacturing, shipping and commodity trades — which cover around 40 per cent of global dry-bulk import-export activity.

In parallel, the United States has signalled a broader ambition to expand its maritime capacity — especially in ship-finance, new-build ordering and strategic logistics — adding an emerging competitive dimension to the global ship-owning landscape.

Nonetheless, experts argue that Hong Kong’s established services infrastructure and East-Asia positioning continue to provide a distinct value proposition.

Analysts say that Hong Kong’s future as a ship-owning centre will hinge on its ability to adapt to evolving geopolitics, reinforce regulatory clarity and expand value-added services.

Should it succeed, the city can maintain its niche even as global maritime power dynamics shift.
Read MoreShow Less
ShareEmailLink

Hong Kong Launches Third Multi-Currency Digital Green Bond to Cement Tokenisation Ambitions

Sovereign sells approx. US$1.3 billion of ‘digitally native’ green bonds in four currencies as part of its drive to become an asset-tokenisation hub
The Government of the Hong Kong Special Administrative Region has issued its third batch of digital green bonds, marking a key step in the city’s strategy to become a leading centre for tokenised finance.

The offering comprised four currency tranches — US dollars, euros, offshore Chinese yuan and Hong Kong dollars — and amounted to about US$1.3 billion.

This issuance follows earlier digital-bond programmes in 2023 and 2024 and is described by authorities as a “digitally native” transaction, meaning it is structured, issued and settled on blockchain-based or distributed-ledger infrastructure.

The government expects the issuance to advance its digital asset ecosystem and reinforce Hong Kong’s position in sustainable finance.

According to people familiar with the matter, the digital green bonds will support environmentally-eligible projects in line with the city’s green-bond framework.

A rating agency reportedly assigned the bonds an AA+ grade, aligning with the city’s long-term sovereign rating.

The government’s Digital Asset Development Policy and the Hong Kong Monetary Authority’s Project Ensemble initiative, which tests wholesale central bank digital currency (CBDC) and tokenised asset settlement, are cited as key enablers of the new issuance.

By combining multi-currency issuance, blockchain settlement and green use of proceeds, Hong Kong aims to integrate fintech innovation with its established capital-markets infrastructure.

Market participants note that the success of earlier digital-bond programmes, along with corporate tokenised debt issuances in Hong Kong this year, have built momentum.

The latest sovereign issue is therefore seen as both a symbol and a test-case of how domestic and international investors may access tokenised sovereign debt in the region.

While not all logistical and regulatory details (such as platform provider or settlement chains) have been publicly disclosed, the move signals that the government views digital bonds as a recurring funding channel rather than a one-off experiment.

Over the coming months, observers will focus on secondary-market liquidity, infrastructure integration and investor uptake, which will determine whether Hong Kong’s ambitions to become a go-to digital-asset hub gain real traction.

If successful, the issuance may help Hong Kong compete with other global centres for token-based securities and reinforce its dual credentials as a green-finance pioneer and digital-finance innovator.

The city now appears to treat digital bonds as part of its core capital-markets strategy rather than simply a pilot programme.
Read MoreShow Less
ShareEmailLink

Hong Kong Maintains Storm Signal No. 1 as Typhoon Fung-wong Skirts East

Forecasters say the tropical cyclone will pass more than 400 km east of Hong Kong, keeping the chance of a stronger signal low
The Hong Kong Observatory has maintained Tropical Cyclone Standby Signal No. 1 on Tuesday as Typhoon Fung-wong continues its northward track across the northeastern South China Sea, keeping well east of the city.

At 9 a.m., Fung-wong was located about 530 km southeast of Hong Kong and is moving north at around 10 km/h.

Forecasters advised that the system is expected to come closest to the territory later on Tuesday or overnight, passing at a distance in excess of 400 km.

Unless the typhoon alters its course towards the coast of Guangdong, the Observatory said the likelihood of raising Strong Wind Signal No. 3 remains relatively low.

Though some offshore areas may experience stronger northerly winds, the territory’s terrain offers natural sheltering, reducing the chance of sustained gale-force winds in the city.

As a result, the Standby Signal No. 1 will continue to apply for the day, while residents and businesses are advised to monitor weather updates and take routine precautions.

The Observatory noted that if the storm track shifts markedly closer to Hong Kong, authorities will reassess conditions and could raise the warning level.

For now, operations across the territory proceed largely as normal under the current advisory conditions.
Read MoreShow Less
ShareEmailLink

Etihad and Hong Kong Airlines Forge Expanded Codeshare and Loyalty Alliance

The two carriers sign a strengthened partnership on 4 November 2025, enabling seamless bookings and shared rewards across Middle-East, Asian and Japanese networks
A deepened strategic alliance between Etihad Airways and Hong Kong Airlines was formally unveiled at a ceremony in Hong Kong on 4 November 2025, aligned with Etihad’s inaugural flight from Abu Dhabi to Hong Kong.

The agreement introduces a broad codeshare arrangement and a reciprocal frequent-flyer programme.

Under the new codeshare terms, flights operated by Hong Kong Airlines between Hong Kong and Abu Dhabi are now bookable under Etihad’s ‘EY’ code, giving Etihad access to the carrier’s route network.

Conversely, Etihad passengers flying to Japan — including destinations such as Fukuoka, Hokkaido-Sapporo, Osaka and Okinawa — may travel on flights operated by Hong Kong Airlines bearing the ‘HX’ code.

The arrangement enables one-ticket bookings covering the full journey, a unified check-in process and automatic baggage transfer across carriers.

Abu Dhabi is positioned as a seamless hub linking Greater China, Japan and the Middle East, Europe and Africa.

In tandem with the codeshare, members of Hong Kong Airlines’ Fortune Wings Club and Etihad’s Etihad Guest loyalty scheme will be able to earn and redeem miles across both airlines’ full networks.

Etihad says this positions Etihad Guest as the largest non-alliance frequent-flyer programme globally by partner count.

Arik De, Chief Revenue and Commercial Officer at Etihad, described the partnership as delivering “meaningful value” by offering wider reach, increased flexibility and enhanced rewards for members.

Louis Li, Executive Vice President of Hong Kong Airlines, called the agreement a milestone in his carrier’s global re-engagement and noted surging GCC region-to-Asia travel demand.

The renewed collaboration builds on an existing relationship between the two airlines dating from 2014 and reflects both carriers’ strategic interest in reinforcing connectivity through Abu Dhabi.

The alliance also leverages the travel resurgence between the Middle East and Asia, offering business and leisure travellers stronger options.

As the arrangements become operational, industry watchers will monitor how swiftly the joint loyalty benefits take effect and how the airlines deploy the expanded codeshare to compete in long-haul markets.

With both carriers aiming to improve network depth and traveller convenience, the partnership signals a step-change in their commercial cooperation.
Read MoreShow Less
ShareEmailLink

Hong Kong Exhibitors Use Shanghai CIIE to Expand into Mainland China’s Market

Hong Kong firms say the import expo has opened new investor links and manufacturing partnerships with mainland counterparts
Hong Kong-based exhibitors at the eighth China International Import Expo (CIIE) in Shanghai report that the event has become a critical gateway to mainland Chinese manufacturing and distribution opportunities.

Participants said they leveraged the fair not just for product showcasing but for securing investment inquiries and manufacturing collaborations.

One standout example is the Hong Kong start-up HairCoSys, which uses artificial-intelligence to analyse hair quality.

Founder Wong Ho-yin said that the company met large mainland investors, including private clinics, who expressed interest in their system during the exhibition.

He described the event as a “golden chance” to promote his business among corporate buyers rather than individual consumers.

HairCoSys, backed by the HK Tech 300 innovation programme of City University of Hong Kong, told how the CIIE enabled access to mainland clients such as salons and medical-beauty chains—markets the firm found previously difficult to penetrate.

The opportunity reflects a broader trend as Hong Kong firms use the expo to position themselves as bridges between global innovation and the mainland consumer-industrial ecosystem.

Hong Kong’s government and trade-body delegations underscore the city’s role as a “super-connector” under the “one country, two systems” framework.

At the CIIE opening, the city’s Chief Executive visited the Hong Kong Pavilion and highlighted that a record number of local enterprises are participating this year underlining confidence in using the platform to expand into high-growth mainland sectors.

Exhibitors at the CIIE said the event’s value lies not only in booth traffic but also in post-show match-making: from negotiations with manufacturers to inbound investment leads for eastern-manufacturing hubs.

One Hong Kong-based consultant specialising in cross-border services observed that the CIIE has evolved beyond an exhibition into an investment-launch and market-entry platform.

As Hong Kong firms prepare for the next edition of the expo, the emphasis is shifting from pure export to deeper integration: leveraging Hong Kong’s financial, regulatory and service-ecosystem strengths to connect mainland Chinese manufacturers with global markets.

Local participants say that this multi-sector, mainland-focused approach at the CIIE is helping redefine the city’s brand as not only “Made in Hong Kong” but “Connect via Hong Kong to China and beyond.”

Sources familiar with the arrangements indicate that over 380 Hong Kong enterprises are expected at the upcoming CIIE—another increase on previous editions—signaling the city’s ambition to further support their mainland-market access and international expansion plans.
Read MoreShow Less
ShareEmailLink

Innovation, Not Cut-Throat Competition, the Key to Tackling China’s ‘Involution’, Says Two Sigma Co-Founder

David Siegel warns that China must shift from high-volume price rivalry to breakthrough technology if it is to escape 'involution' in sectors like EVs and food delivery
David Siegel, co-founder and co-chairman of the hedge fund Two Sigma, told the Family Business Summit in Hong Kong that the answer to China’s so-called “involution” is not more of the same fierce price competition but deeper innovation.

He said that in markets where companies are locked into low-margin battles — for example in electric vehicles and food-delivery platforms — what emerges is a hyper-competitive loop that benefits no one.

“In the areas where you’re getting excessive competition, it’s because the business is already commoditised,” Mr Siegel said.

“If you move into the domain of far more innovative technology, something much more specialised, something that is not already ready for scale deployment, it’s a different story.” His remarks reflect Beijing’s growing concern about the term _neijuan_ — the societal and economic spiral of intensified competition with minimal gains —which President Xi Jinping referenced last year when warning against “involution-style vicious competition”.

Mr Siegel pointed out that many Chinese firms have duplicated one another in fast-growth sectors, driving prices and margins down as rivals battled for market share rather than differentiation.

By contrast, those developing next-generation technologies or new business models are less exposed to price-driven collapse and may offer higher value for society and the economy.

He emphasised that China’s private-sector resources and scale are well-placed to lead in specialised innovation if the policy setting supports it.

That means directing capital, talent and regulatory attention away from cut-price volume sectors and toward fields that demand advanced engineering, strong intellectual property and high entry-barriers.

Mr Siegel’s comments come amid broader debate in China around how to move from volume-led growth toward higher-quality development.

With demographic headwinds and slower consumption, the competitive advantage of racing to scale at low cost is diminishing.

His message was clear: the way out of the involution spiral is not price cutting but generating breakthrough capabilities.

For Chinese companies, this means choosing fewer battles in commoditised fields and aiming for the frontier of technology instead.

As China navigates its next stage of economic transformation, Mr Siegel believes that firms and policymakers alike must recognise that true competitive advantage lies in innovation, not in being the fastest or cheapest.

The implications are significant: the country’s allocation of talent, regulation and investment must shift accordingly.
Read MoreShow Less
ShareEmailLink

Global Sources Hong Kong Shows 2025 Spotlight Travel Innovation and Tech-Driven Tourism

More than 120,000 buyers converged at AsiaWorld-Expo for a three-phase sourcing event combining travel-industry insights with consumer electronics and sustainable tourism products
The Global Sources Hong Kong Shows 2025, staged at AsiaWorld-Expo in October and drawing over 120,000 professional buyers, placed a fresh emphasis on travel, tourism and sustainability alongside its core electronics and lifestyle sourcing agenda.

Spanning three phases, the event began with a focus on gaming and consumer electronics, moved into mobile and smart-living tech, and concluded with outdoor and sports innovations aligned with active and eco-conscious tourism.

The integration of tourism-oriented exhibitors underscored how destination marketing, hospitality gear and travel tech are now central to the global consumer-sourcing narrative.

In the travel and tourism segment, standout offerings included AI-powered itinerary tools, wearable translation devices, and immersive destination-marketing platforms designed for variety of incoming traveller types.

Outdoor and adventure tourism products such as advanced camping gear, water-sports equipment and sports-leisure wear featured prominently, reflecting the growth of experiential travel and active vacations in emerging markets.

Regional destination-marketing zones added further depth: a dedicated Vietnam Pavilion launched in partnership with the organisers highlighted the importance of Asia-Pacific tourism growth and underscored how Hong Kong remains a strategic nexus for travel-industry networking.

Exhibitors reported that the sourcing show enabled meetings with buyers from across Europe, North Africa and beyond, signalling a widening global reach for travel-sector suppliers.

Industry participants described the event as a turning point for the travel-industry community.

One CEO of a sports-leisure supplier noted that the spectacle “helped us connect with buyers from Europe and North Africa eager to expand into the tourism and leisure sectors”.

With its blend of consumer tech, smart-travel solutions and eco-tourism gear, the show reinforced Hong Kong’s role as a platform where travel-industry innovation meets global sourcing.

With organisers now signalling future editions will further intensify their travel-technology and sustainable-tourism themes, the October 2025 show may mark a new chapter in how trade-expos serve as launchpads not only for electronics sourcing but for destination-marketing, hospitality services and next-generation travel experiences.
Read MoreShow Less
ShareEmailLink

Hong Kong Government Receives Low External Cybersecurity Ratings Amid Self-Critique

SecurityScorecard grades Hong Kong’s Security Bureau and departments poorly while authorities caution external scores may not reflect full security posture
A U.S.-based cybersecurity ratings agency has assigned low scores to the Hong Kong Special Administrative Region government, its Security Bureau and several departments, prompting a formal response from local authorities.

The ratings, reported by a prominent local newspaper, are based on the agency’s A-to-F grading system which monitors publicly visible indicators of security risk.

The watchdog noted that Hong Kong’s government entities were assessed on factors such as patching cadence, exposed internet-facing assets, DNS health and social engineering susceptibility — key categories within the agency’s methodology.

The local Digital Policy Office acknowledged the assessment, stating that while such external ratings offer “useful perspectives” they cannot fully reflect the range of internal information-security measures.

“Cybersecurity rating agencies may employ distinct methodologies, areas of focus and rating factors, often drawing on externally visible data,” the office said, noting that its subscription to the ratings service does not imply full endorsement of every rating.

It pointed out that public-domain metrics cannot capture internal controls, oversight, detection systems or incident-response capabilities.

The timing of the ratings coincides with heightened debate in Hong Kong over cybersecurity oversight, particularly after the government exempted itself from the city’s first anti-hacking legislation, which critics say raises questions about defence against threats targeting public infrastructure.

In its 2024 Cybersecurity Report, the Technology Crime and Cybersecurity Bureau noted over 33,900 technology crime cases, including 112 destructive cyber-attacks, though it did not link these directly to the government’s vulnerabilities.

Analysts say the low grades may prompt agencies to increase transparency around cyber-governance and address perceived gaps in external visibility.

Observers note that while such rating systems should not be taken as definitive, they often influence investor and vendor confidence, particularly in global supply-chain assessments.

With Hong Kong positioning itself as a digital-economy hub, improving third-party ratings may become a strategic priority for the Government.

The authorities have indicated they will review in-house communications on third-party cybersecurity tools and consider enhancing public-facing disclosures.

Implementation of the new Protection of Critical Infrastructure (Computer System) law, slated to take effect in 2026, may offer an opportunity to bolster the overall framework and improve performance in external assessments ahead of next year’s trading-hub review cycles.
Read MoreShow Less
ShareEmailLink

Hong Kong FSDC Urges Strengthening Physical Commodity Trading to Build Futures Hub

Advisory body recommends focus on iron ore, copper, aluminium and gold to underpin Hong Kong’s global commodity ambitions
The Financial Services Development Council (FSDC) of Hong Kong has called for a strategic shift toward bolstering physical commodity trading as the foundation for a more vibrant futures market in the city.

In its recent report, the advisory body argues that enhancing spot-market infrastructure will help underpin derivative trading and reinforce Hong Kong’s role as a global commodities gateway to China and beyond.

The FSDC observed that while Hong Kong’s exchange offers futures in gold, silver and iron ore, trading volumes remain relatively limited.

To elevate competitiveness, the report recommends prioritising commodities where the region holds structural advantages — such as gold, iron ore, copper and aluminium — and developing warehousing, storage and logistics infrastructure accordingly.

According to FSDC Chairman Benjamin Hung, Hong Kong’s positioning as a “neutral, trusted and strategic trading hub” is gaining appeal as manufacturers diversify supply chains and global decarbonisation accelerates.

The report emphasises that a robust physical market will “anchor demand from end users” and thereby encourage growth in futures liquidity and price discovery.

The timing of the recommendations aligns with policy signals from the Hong Kong government.

In its recent Policy Address, the city’s leadership pledged to expand tax incentives, warehousing capacity and financial innovation to support commodity-trading activities and elevate Hong Kong’s ecosystem.

The FSDC’s analysis suggests the city now has a window of opportunity to capture trade flows diverted from Mainland China’s evolving regulatory regime.

The report also identifies ecosystem-building imperatives: attracting more participants (traders, logistics providers, financiers), enhancing connectivity with mainland markets and global hubs, and integrating commodities aligned with sustainability goals — for example critical minerals and decarbonisation metals.

These steps, it says, will help Hong Kong transition from a largely financial-services centre into a fuller trading platform that spans physical flows, risk management and capital markets.

Industry observers note that despite Hong Kong’s declining lead in commodity-futures trading versus Singapore or London, its unique access to Chinese consumers and manufacturing makes it a compelling platform.

With the FSDC’s blueprint now public, attention will fall on how swiftly the private and public sectors mobilise warehousing, logistics and regulatory reforms to deliver on the vision of a deeper commodity hub in Asia.

The council’s full report underscores that developing Hong Kong’s commodity-trading base is not just a market objective but a strategic component of its broader ambition to enhance economic resilience and global connectivity in financial and trade services.
Read MoreShow Less
ShareEmailLink

All 161 Nominees Approved for Hong Kong’s December 7 LegCo Election

Candidate Eligibility Review Committee confirms every one of 161 submissions meets Basic Law and allegiance requirements ahead of Hong Kong’s eighth Legislative Council election
The Candidate Eligibility Review Committee of the Hong Kong Special Administrative Region has validated all 161 nominations submitted for the city’s December 7 General Election of the Legislative Council.

The committee concluded that each candidate satisfies legal requirements, including upholding the Basic Law and pledging allegiance to the HKSAR of the People’s Republic of China.

The nomination window ran from October 24 to November 6, during which returning officers collected a total of 161 nomination forms across 10 geographical constituencies, 28 functional constituencies and the Election Committee constituency.

With all nominations formally accepted, attention now turns to the pre-election process: the returning officers will determine ballot order and advertising spots, while the committee is required to publish gazetted notification of validly nominated candidates within 14 days of nomination close.

Voting for the eighth Legislative Council General Election is scheduled for December 7, when registered electors will choose the new 90-member legislature.

The full validation of all candidates ensures that the electoral contest will proceed as planned across all seats, with no nominations disqualified at this stage.

The next phases will focus on campaign preparation, election arrangements and regulatory compliance as Hong Kong heads toward its scheduled vote.
Read MoreShow Less
ShareEmailLink

Leaked Audio of Wong Kar-Wai Criticising One-Party Rule Sparks Censorship in China

Renowned director’s remarks on Tianjin outbreak and ‘greedy one-party state’ surface in audio clip, swiftly scrubbed from platforms
A private audio recording in which acclaimed Hong Kong director Wong Kar‑Wai reportedly likens the late-2019 Wuhan coronavirus outbreak to “chaos in a greedy one-party state” has stirred controversy within China’s cultural and political spheres.

The clip was circulated via Weibo on 8 November 2025, but was swiftly removed by state internet censors.

In the leaked discussion with his collaborator Qin Wen and others, Wong is heard saying: “Only in a greedy one-party state could things get this chaotic,” in reference to the epidemic response.

Other voices in the transcript allege the ruling Chinese Communist Party “has no compassion” and “only knows how to exploit,” contrasting the situation with democratic systems.

The audio emerged amid a broader scandal connected to the television adaptation Blossoms Shanghai, where screen-writer Cheng Junnian (known by the pen-name “Gu Er”) accused the production of credit theft, labour exploitation and suppression after releasing lengthy private recordings of cast and crew.

The leak evolved from a creative-rights dispute into one of the most politically sensitive episodes in China’s entertainment industry in recent years.

Nationalist users on social media responded angrily, accusing Wong of “insulting the Party” and demanding removal of the drama from streaming platforms and revocation of his Magnolia Award.

The New Hong Kong Board of Deputies (NSW JBD) did not comment; relevant actors’ representatives likewise remained silent.

The recording had already spread widely beyond China’s firewall when it was taken offline.

In response to the backlash, the Chinese authorities reaffirmed the prohibition on speech undermining the Party’s legitimacy.

Although no official penalty has yet been reported, observers suggest Wong’s professional standing in mainland China will be adversely affected, even if direct legal action is avoided.

The incident underscores a number of systemic issues: an entertainment industry grappling with rights, labour and credit disputes; increasing public sensitivity to elite-circle legal impunity; and persistent red lines around public commentary on one-party rule.

Even renowned artistes, many analysts say, cannot escape scrutiny when their private words touch political taboos.

The full consequences for Wong, the drama’s future and the broader industry remain to be seen.
Read MoreShow Less
ShareEmailLink

Intel launches legal action after alleged theft of 18,000 'Top Secret' files by engineer

Chipmaker sues former employee Jinfeng Luo, accusing him of stealing classified design and source code materials before disappearing
Intel Corporation has filed a civil lawsuit in the U.S. District Court for the Western District of Washington against former software engineer Jinfeng Luo, accusing him of stealing approximately 18,000 confidential files, some marked 'Intel Top Secret,' shortly before his termination.

According to court filings, Luo, who joined Intel in 2014, was notified on July 7 of his dismissal as part of a wider round of corporate layoffs, with his employment ending later that month.

Intel alleges that on July 23, Luo attempted to transfer company files to an external drive, but security systems blocked the attempt.

Three days before his final day, he is said to have connected a home-based network-attached storage (NAS) device, enabling him to download tens of thousands of documents from Intel’s internal systems.

These reportedly included engineering documentation, internal testing data, source code, and technical plans for unreleased processors and architectures.

The company discovered the breach through routine information-security audits and immediately began an internal investigation.

Intel’s legal complaint states that for more than three months, the firm tried to contact Luo by phone, email, and certified mail at addresses in Seattle and Portland, but received no reply.

Luo’s current whereabouts remain unknown.

Intel is demanding at least $250,000 in damages, the return of all stolen materials, and injunctive relief to prevent further use or disclosure of its trade secrets.

The case, filed under Intel Corporation v.

Luo (Case No. 2:2025-cv-02159), invokes the U.S. Defend Trade Secrets Act and related state laws.

While the allegations are detailed, Luo has not yet responded publicly, and no criminal charges have been announced.

The lawsuit comes during a turbulent period for Intel, which has been restructuring amid fierce competition from AMD, Apple, and Nvidia.

The company has already laid off tens of thousands of workers since 2023 in an effort to stabilize profitability.

The alleged theft adds to Intel’s recent series of internal security breaches — including a previous case where another engineer was convicted of misusing confidential Intel data after joining Microsoft.

For Intel, the case highlights not only the risk of insider breaches during mass layoffs but also the critical importance of securing trade secrets in an era of rapid technological competition.

Whether Luo’s alleged actions were linked to future employment or external influence remains unclear.

For now, the company’s message is unmistakable: the protection of its intellectual property remains a top priority as it works to rebuild trust and maintain its strategic edge in the semiconductor race.
Read MoreShow Less
ShareEmailLink

Towngas Deploys Hong Kong’s First Integrated Hydrogen Generator to Power National Games Venue

Locally developed hydrogen power unit supports the golf event at the 15th National Games, advancing low-carbon innovation in the Greater Bay Area
The Hong Kong and China Gas Company Limited (Towngas) has unveiled the city’s first integrated hydrogen power generator in support of the 15th National Games of the People’s Republic of China.

As silver sponsor of the Hong Kong competition region, Towngas has installed the unit at the golf venue in Fanling, using locally produced hydrogen combined with a battery energy storage system to supply temporary electricity to the police command centre, volunteer headquarters and event offices.

Developed jointly by Towngas and Chi Shing New Energy Technology, the system roughly the size of a shipping container is positioned as a low-carbon alternative to traditional diesel generators, producing only water vapour during operation.

Officials from the Electrical and Mechanical Services Department visited the site to evaluate safety and operations, marking a milestone in Hong Kong’s hydrogen-energy deployment.

Mr Don Cheng Hill-kwong, Chief Operating Officer (Hong Kong Business) of Towngas, said the initiative demonstrates the city’s innovative capabilities in hydrogen energy application and aligns with broader ambitions in the Greater Bay Area to accelerate green development.

Academic groups have also been invited to tour the system, underscoring the educational and industrial synergy envisaged.

The move by Towngas highlights an important trend: hydrogen energy is increasingly being integrated into high-profile infrastructure and events.

The Hong Kong government’s Strategy of Hydrogen Development has already approved multiple pilot projects, including hydrogen extraction from existing pipelines and vehicle-fuel cell applications.

Looking ahead, Towngas said it plans to expand hydrogen-energy applications across multiple sectors in Hong Kong and the Greater Bay Area, reinforcing the transformation to a sustainable energy ecosystem and supporting key regional sporting and cultural events.
Read MoreShow Less
ShareEmailLink

Hong Kong and Macao Table Tennis Stars Launch National Games Campaign with Mixed Doubles Victory

Wong Chun Ting and Doo Hoi Kem get off to a strong start at the 15th National Games in Macao as co-hosts authorised venues begin competition
Hong Kong’s mixed doubles team of Wong Chun Ting and Doo Hoi Kem opened their campaign in impressive fashion at the 15th National Games of China, defeating Hebei’s Zhou Yu and Zang Xiaotong 10-12, 11-8, 11-7, 11-5 in the round of 16 on Saturday at Macao’s Galaxy Arena.

Their match was played in front of a vibrant crowd and marked the first major contest staged in the Macao competition zone as part of the Guangdong-Hong Kong-Macao co-hosted event.

Macao resident and volunteer interpreter Liu Feng Theresa cheered the performance and noted the significance of the national sport being engaged at such a level.

“As table tennis is known as our national sport, there will be fierce competition at the Games definitely, while the strength of China’s Hong Kong and Macao paddlers is noteworthy in particular,” she said.

Both players emphasised their focus on process over outcome.

Wong, aged 34 and the torch-bearer for Hong Kong in the relay, stated that the pair needed to “move forward step by step and just focus on each match,” while Doo, 28, added that the seeding “didn’t give us pressure… we are clear about our status and will not regard ourselves as the top duo.” Their familiarity was evident: Doo remarked that they “grew up together in training camps… we are familiar with each other and have great relationship.” Wong added that the enthusiastic Cantonese-speaking crowd provided an extra boost.

Macao’s hosting of the table tennis events, which are scheduled from 7 to 20 November at the Galaxy Arena, forms part of the region’s role in the landmark Games—its first time as a venue for China’s premier multi-sport event.

A schedule released in May confirms that Macao is designated to host the table tennis competitions, along with other sports including women’s volleyball and 3×3 basketball.

Theresa also pointed to the broader impact: with Macao’s student population increasingly active in sports, she said large-scale staging like the National Games “will further ignite the passion in younger generations.” She noted Macao local paddler Zhu Yuling, world number six and gold medallist at the United States Smash this July, will open her Games campaign in the singles draw on Monday, setting further hope for the territory.

With strong starts from the Hong Kong pair and growing local engagement in Macao, the table tennis competition promises to be a focal point of the Games’ multi-city showcase of sport, culture and integration across the Guangdong–Hong Kong–Macao Greater Bay Area.
Read MoreShow Less
ShareEmailLink

Xi Jinping Opens China’s 15th National Games as Hong Kong’s Lee Hails Co-Hosting Honour

The Guangdong–Hong Kong–Macau co-host edition of the Games is officially launched with an ambitious cultural and technological opening ceremony
President Xi Jinping officially opened the 15th National Games of China at the Guangdong Olympic Sports Centre in Guangzhou on Sunday evening, marking the first time the event is co-hosted by Guangdong province, Hong Kong and Macau.

The opening ceremony featured a dramatic blend of cutting-edge technology and southern China’s Lingnan cultural heritage.

Hong Kong Chief Executive John Lee Ka-chiu, attending as part of the city’s delegation, described the opportunity to co-host the Games as an “immense honour” and said the city was ready to make its mark across the eight elite sports and two cross-boundary competitions it will stage.

Hong Kong athletes are already making headlines: cyclist Ceci Lee Sze-wing defended her women’s road-race title and gave the city a second gold medal just before the formal opening.

The ceremony emphasised the role of the Guangdong–Hong Kong–Macau Greater Bay Area as a dynamic hub, with Xi stating the Games would highlight “the vibrant landscape of Chinese modernisation” in the region.

Hong Kong’s involvement includes venues such as the Hong Kong Velodrome for track cycling and the Kai Tak Sports Park hosting rugby sevens and handball—events the city has been preparing for with a record delegation of more than 600 athletes.

For Hong Kong, the Games represent both a major sports opportunity and a platform for broader regional integration.

Lee attended the flame-lighting ceremony days earlier in Guangzhou’s Nansha District, where the torch was symbolically drawn from marine methane-ice under the South China Sea—a fusion of technology and natural heritage.

Officials say the event is on track to be “simple, safe and splendid,” with over 16 000 volunteers mobilised and extensive test-events completed.

As the Games proceed through November 9 to 21, Hong Kong officials are keen to see athletes such as fencers Cheung Ka-long and Ryan Choi Chun-yin build on their success at past Asian and Olympic events.

With the spotlight now on the city and the wider Greater Bay Area, the focus will be on how effectively the co-hosting model and cultural spectacle deliver both sporting excellence and regional showcase value.
Read MoreShow Less
ShareEmailLink

Stack’s Bowers & Ponterio’s October 2025 Hong Kong Auction Realises Over US$18 Million

Rare Chinese coins and paper money fuel strong Asian market performance with standout individual lots

The autumn auction staged by Stack’s Bowers & Ponterio in Hong Kong spanned eight days and encompassed approximately 8,500 lots of world coins, Chinese rarities and paper currency. The sale realised in excess of US$18 million, underlining the firm’s pre-eminence in the numismatic market and demonstrating growth in Asian demand.

The opening session, dubbed “Rarities Night”, featured 233 premier lots focused on Chinese treasures and achieved US$6.206 million in total. A gold “Flying Dragon” dollar pattern (Lot 40161) led the session, achieving a hammer price of US$504,000. Other notably strong performers included a Kiangnan 7 mace 2 candareen gold coin graded PCGS MS-62 (Lot 4005) which realised US$240,000, and a gold presentation “Pavilion” dollar (Lot 40173) also selling for US$240,000.

Across subsequent sessions, additional highlights included a Foochow Arsenal silver award medal (Lot 40229) that realised US$140,000, and a gold 10-tael ingot dating circa 1750 (Lot 41039) which fetched US$78,000. From the Philippines, an 1828 overstrike on a Peru-mint 8 reales (Lot 43496) achieved US$114,000. Paper-money sales likewise thrived: a People’s Bank of China 10 yuan note (Lot 31075) realised US$114,000 and a Hong Kong Chartered Bank of India, Australia & China US$5 note (Lot 31101) sold for US$55,000.

Throughout the auction, Chinese rarities—both in coin and paper form—anchored the market, reflecting strong regional collector interest and international investor participation. The realisation of multiple six-figure lots and a total auction result above US$18 million further reinforce the company’s leading position and the robustness of the Asian numismatic segment.

As consignors and bidders now assess the results, the performance offers insight into price levels for Chinese rarities and paper money entering market channels in 2025. With global collectors increasingly active in Asia, the Hong Kong auction sets a benchmark for forthcoming world-currency and numismatic sales in the region.

Read MoreShow Less
ShareEmailLink

Standard Chartered Positions Hong Kong at Heart of Its Digital-Finance Strategy

CEO Bill Winters says the bank will build on Hong Kong’s fintech framework and blockchain pilot projects to advance its next-generation banking model
Standard Chartered is placing Hong Kong at the core of its digital-finance ambitions as the bank gears up for a blockchain-driven future, according to Chief Executive Bill Winters.

In a recent interview the banker emphasised the city’s “pioneering regulatory framework” that supports experimentation with tokenisation, central-bank digital currency and other innovations.

Winters praised the Hong Kong Monetary Authority (HKMA) for its pilot programmes and regulatory sandboxes, which have enabled participants to safely work on projects such as tokenised deposits and stablecoins.

He added that Standard Chartered, as one of Hong Kong’s note-issuing banks, is actively engaging in the local fintech ecosystem and participating in the HKMA’s initiatives.

“We’re going to remain ahead on digital technology, and what we lose in margin, we’re going to make up in volume by providing a better service to our customers,” Winters said, signalling a shift in the bank’s operating model.

He noted that Hong Kong’s newly announced five-year fintech strategy will strengthen the city’s role as an innovation hub and aligns with the bank’s vision of a tokenised financial system.

For Standard Chartered, the commitment to Hong Kong fits within a broader push across Asia to deepen its digital and wealth-management franchises.

Winters has described the future of money as “fully digital” and predicted that virtually all transactions will eventually settle on blockchains.

Even as the timing of that transformation remains uncertain, he said, experimentation in Hong Kong offers a platform to shape how new settlement infrastructure and tokenised assets will operate.

Analysts observe that the move highlights Hong Kong’s renewed relevance in global finance as it seeks to reassert itself as a gateway to China and a platform for digital-asset innovation.

Standard Chartered’s strategy suggests that as banking income growth faces pressure, leveraging fintech and tokenisation may offer alternative growth pathways.

The bank’s focus on Hong Kong may also reflect confidence that the region will remain a favourable jurisdiction for experimentation in digital finance.

Winters reinforced that for the bank the question is no longer whether to invest in digital-asset infrastructure—but where and how.

With Hong Kong delivering a regulatory ecosystem that blends safety with innovation, Standard Chartered views the city as the natural anchor point for its digital-finance ambitions.
Read MoreShow Less
ShareEmailLink

General Atlantic CEO Warns Western Investors: 'Ignore China at Your Peril'

Bill Ford cites surging Chinese innovation, eased U.S.–China tensions and a reinvigorated Hong Kong market as key global investment drivers
Bill Ford, chairman and chief executive of the U.S. private-equity firm General Atlantic, issued a stark warning to Western investors at an investment summit in Hong Kong, stating that avoiding China “at your own peril” risks missing “tremendous investment opportunities.” His comments reflect the firm’s perspective on China’s evolving role in global markets and underscore the strategic importance of engaging with the region’s innovation ecosystem.

During a week-long visit to China preceding the summit, Ford highlighted the rise of a new generation of Chinese entrepreneurs pursuing global market leadership across sectors including industrial automation and medical technology.

He said their ambition to “be global leaders” marks a shift beyond serving exclusively domestic demand.

Ford further pointed to recent improvements in U.S.–China relations and the revival of the Hong Kong equity market as enhancing the appeal of Chinese and regional investment.

Ford’s remarks come as the orbits of geopolitics and capital converge.

Although trade and security issues remain, he said the current phase presents an “entry point” for Western capital to tap China’s growth trajectory.

He described the region not as a purely emerging-market play but as central to multiples strategies including digital infrastructure, climate tech and healthcare.

At General Atlantic, Ford has overseen expansion into more than 20 countries and asset-under-management growth to approximately US$114 billion, with China among its strategic geographies.

He emphasised that investors who “sit on the sidelines” may forgo participation in breakthrough valuation arbitrage and innovation flow from the region.

Analysts say Ford’s message reflects a broader recalibration of risk, where caution over China is giving way to selective engagement.

Challenges remain—ranging from regulatory opacity to decoupling concerns—but the narrative among some global managers is shifting toward identifying consistent entry points rather than full withdrawal.

Ford framed this as a timely moment.

He asserted that for Western investors, the question is no longer “whether” to engage with China, but “how” to do so smartly.

Ford concluded that China’s integration into global capital markets, when combined with Hong Kong’s renewed financial positioning and easing bilateral tensions, creates a compelling crossroads for investment strategy.

He stressed that the opportunity, in his view, merits serious attention from global allocators.
Read MoreShow Less
ShareEmailLink

HKU Proposes Nuclear-Medicine Manufacturing Plant in Northern Metropolis to Drive Low-Cost Cancer Treatment

The University of Hong Kong aims to mass-produce radioligand therapies in the Northern Metropolis, targeting cancers such as nasopharyngeal carcinoma
The University of Hong Kong (HKU) is moving to establish a nuclear-medicine production facility in the Northern Metropolis development area, with the goal of halving the cost of imported therapies and expanding access.

The initiative builds on successful clinical trials conducted by HKU using radioligand therapy (RLT) between 2020 and 2023 for neuroendocrine tumours, according to Professor Victor Lee Ho-fun, chairman of HKU’s Department of Clinical Oncology.

The proposed plant, to be sited in the Northern Metropolis megaproject zone in Hong Kong’s New Territories, will aim to manufacture isotopes and delivery agents for use in treatment of nasopharyngeal cancer—a disease notably prevalent in southern China, including Hong Kong, Macau and Guangdong province.

Professor Lee pointed out that current therapies for nasopharyngeal cancer are “not very effective”, and the localised manufacturing would allow both innovation and cost-reduction.

Radioligand therapy uses radio-labelled molecules to deliver targeted radiation to cancer cells.

Hong Kong already widely utilises such nuclear-medicine techniques for prostate cancer.

HKU researchers are now adapting their RLT platform to tackle different tumour types.

A key enabler of the scheme is the Northern Metropolis initiative, which envisions new industrial infrastructure and innovation clusters across the region.

The government’s development plan states that the Northern Metropolis will support high-end professional services and innovation-technology industries, positioning it as a strategic site for advanced health-science manufacturing.

The university said the facility would contribute to the broader Hong Kong-Greater Bay Area ambition to establish a downstream production cluster for nuclear medicine and therapeutics.

By localising supply chains, HKU envisages cost savings and improved availability, particularly for cancers with regional concentration.

Observers say that if realised, the plant could add a layer to Hong Kong’s health-science ecosystem and reduce reliance on overseas imports of specialty isotopes and radiopharmaceuticals.

HKU emphasised that project planning remains in early stages, including regulatory approval, manufacturing licensing and site-design work.

The next steps involve detailed feasibility studies, partnership discussions with industry and hospitals, and alignment with radiation-safety frameworks.

The university noted that its prior achievements in nuclear-medicine research and the strategic land-use potential of the Northern Metropolis make the plan timely and regionally strategic.

Should the production facility advance as proposed, it may mark a significant step in Hong Kong’s transition from research to manufacturing in the life-sciences sector, expanding access to advanced cancer therapies and reinforcing the city’s role in the Hong Kong–Shenzhen science corridor.
Read MoreShow Less
ShareEmailLink

Guangdong’s 3.5 Billion-Yuan Consumer Voucher Scheme Struggles to Boost Spending

Despite its largest-ever consumption subsidy effort, China’s Guangdong province faces tepid public response amid economic uncertainty
Guangdong province’s ambitious consumer subsidy initiative, which launched in early November with a headline commitment of 3.5 billion yuan (roughly 492 million US dollars), has so far failed to ignite broad consumer enthusiasm.

The scheme, which offers discounts on goods from smartphones to snowboards and will run until March, aims to spur domestic spending ahead of the 2026 National Games and key holidays.

The programme reflects Beijing’s broader effort to rebalance its economy by boosting consumption as exports face trade-tension headwinds and the property sector remains under pressure.

Guangdong – China’s most populous province and a major export hub of 128 million people – is seeking to generate a surge in foot traffic and spending through subsidised goods transactions.

However, on-the-ground feedback has been underwhelming.

Many locals say the vouchers do not deliver sufficiently generous discounts to overcome lingering caution in the face of job-market fragility and broader economic uncertainty.

One Shenzhen resident remarked that the incentive “wasn’t enough” to justify a large purchase.

In addition, some retailers said the promotional pricing was opaque, and that the discount layers were modest in practice.

Analysts observe that Guangdong’s difficulties underscore structural headwinds facing China’s consumer-led growth model.

Although consumption voucher programmes have shown near-term impact in past years, their success is heavily conditioned on underlying consumer confidence.

With youth unemployment elevated, property market policy still unsettled and external demand softening, households remain in wait-and-see mode.

Moving forward, Guangdong officials plan to pivot the voucher campaign toward major events and holidays – including the National Games and Spring Festival – in the hope of creating targeted “spikes” in spending.

But for the momentum to be sustained, experts say the region may need to expand the scheme beyond durable goods and appliances to services such as dining, tourism and leisure, which could engage a larger share of household budgets.

If consumer sentiment does not improve, Guangdong’s high-profile subsidy effort may struggle to close the consumption gap it was meant to address.
Read MoreShow Less
ShareEmailLink

University of Hong Kong Opens Inquiry Into AI-Driven Paper with Fabricated Citations

HKU launches investigation after paper containing non-existent references generated by AI prompts student misconduct probe
The University of Hong Kong (HKU) has initiated an internal investigation after a published academic paper, led by a PhD candidate, was found to contain multiple non-existent references apparently generated by artificial intelligence (AI).

The corresponding author, Professor Paul Yip Siu-fai of HKU’s Department of Social Work and Social Administration, issued an apology on Sunday on behalf of himself and the lead author, Ms Bai Yiming.

The issue was raised when a user on the social-media platform Threads flagged the paper’s reference list as potentially the output of “AI hallucination”—a term used to describe instances where AI systems fabricate plausible-looking but non-existent information.

Professor Yip acknowledged that Ms Bai had used AI to assist with the referencing process without individually verifying each citation, and he accepted oversight responsibility as corresponding author.

In his statement, Professor Yip asserted that while the agreement to submit the paper followed two rounds of peer review, he believed the paper’s findings were not themselves fabricated and therefore did not constitute academic misconduct in his view.

He noted that other co-authors served only in support roles and did not contribute to the reference validation process.

The university said that it had established stringent policies on AI use and had asked the relevant faculty to conduct a full assessment of the matter.

The case reflects wider challenges in higher education concerning the responsible integration of generative AI in academic workflows.

Universities globally are adapting policy frameworks to address risks such as reference fabrication, ghost-writing and other integrity concerns, and HKU’s investigation may yield precedents for emerging oversight mechanisms.

As the probe unfolds, attention will focus on the university’s governance response, the extent of policy enforcement and whether academic sanctions will follow.

HKU declined to comment on the disciplinary outcome but affirmed its commitment to upholding academic integrity and reviewing procedures for the use of AI tools in research.

The investigation is ongoing.
Read MoreShow Less
ShareEmailLink

Hong Kong’s Ceci Lee Retains National Games Road-Race Crown

Lee secures second consecutive gold in the women’s road race, becoming just the third Hong Konger to claim multiple National Games titles
Hong Kong cyclist Ceci Lee Sze-wing successfully defended her women’s road-race title at the 15th National Games in Zhuhai on Sunday, completing the 138.7 km course in three hours, 19 minutes and 54 seconds.

She edged out Guangdong’s Wei Xiaoqing and Liaoning’s Sun Jiajun to provide Hong Kong with a second gold medal at this year’s Games, following the city’s earlier sailing victory.

In celebrating Lee’s achievement, Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said she was “thrilled and excited” and that Lee had once again “brought glory to Hong Kong”, reinforcing the city’s capacity to compete strongly at the highest level of elite sport.

Lee’s victory also marks her distinction as the third athlete from Hong Kong to win gold more than once at the National Games, following the legacies of Wong Kam-po and Sarah Lee Wai-sze.

Lee is set to receive HK$750,000 (approximately US$96,000) from the Hong Kong Jockey Club in recognition of her title defence and outstanding performance.

Her victory is especially notable given the field’s heightened expectations: after claiming her first gold in Shaanxi in 2021, she entered the 2025 Games as a marked rider, yet she produced a decisive sprint to retain the crown.

With cycling Hong Kong’s most fruitful sport at the National Games—accounting for 23 medals since first competing in 1997—Lee’s win adds to the city’s proud record.

The road-race route, held partially in the Greater Bay Area, proved suited to her pacing strategy and sprint finish.

As Hong Kong’s cycling programme continues to evolve under international coaching leadership, Lee’s performance underscores the city’s growing strength and ambition.

Moving forward, Lee is expected to transition to the track events held in Hong Kong later in the Games, where she remains a strong medal contender.

Her back-to-back golds may well mark her emergence as a dominant figure in Hong Kong’s cycling future.
Read MoreShow Less
ShareEmailLink

Hong Kong Medical Council Faces Renewed Criticism over Closure of Endoscopy Injury Case

The city’s medical regulator comes under pressure amid dual inquiries after a patient was left in a vegetative state following a clinic endoscopy
Hong Kong’s medical regulator has come under intensified scrutiny after it was revealed that the Medical Council of Hong Kong (MCHK) closed an inquiry into a patient who became vegetative following an endoscopy, raising fresh questions about professional oversight.

The case involves Mr Andy Chan Suk-wai, aged fifty, who visited a Kowloon clinic in July 2021 and saw his blood pressure and oxygen levels collapse within minutes of anaesthesia.

He was subsequently transported to hospital after suffering pulseless electrical activity and remains in a vegetative state.

Mr Chan’s sister, Ms Kitty Chan, publicly accused the MCHK of handling the investigation “haphazardly” after a four-year wait and absence of action.

She confirmed she has launched civil proceedings against both a general surgeon and an anaesthetist in respect of alleged professional misconduct.

The incident follows another high-profile case in which the council terminated its hearing into a paediatrician accused of causing lifelong disability in a child, prompting the government health chief to order a review of the council’s process.

The government has since announced an investigation by the city’s ombudsman into the administrative support provided to the medical-regulation bodies after a fifteen-year delay surfaced in that past inquiry.

In its response, the council acknowledged it would review its own handling of the paediatric case and said it remains committed to safeguarding patient interests.

Meanwhile, patient-rights advocates say the endoscopy incident underscores longstanding concerns about transparency, timeliness and accountability in the disciplinary system.

Analysts observed that the twin episodes create a pivotal moment for Hong Kong’s healthcare governance.

While the council’s statutory powers permit investigations into professional misconduct, the public’s confidence hinges on visible outcomes and adequate procedural safeguards.

As the review proceeds, all eyes are on whether systemic reform will follow, and whether the latest allegation will lead to meaningful disciplinary action.

The case of Mr Chan and the broader governance challenge suggest that for patients in Hong Kong, the standards of oversight and remedy in serious medical‐error incidents remain very much in the spotlight.
Read MoreShow Less
ShareEmailLink

Hong Kong Marks Sixty-Fourth Month of Security Crackdown with High-Profile Trials and Arrests

As major cases proceed and international tensions rise, the city’s national-security enforcement shows no signs of easing
Hong Kong enters the sixty-fourth month of its national-security crackdown with a fresh wave of legal developments, as authorities press ahead with trials, arrests and restrictions under the city’s sweeping security framework.

The month has brought highly visible cases and international diplomatic exchanges that underscore the depth and breadth of Beijing’s security agenda for the territory.

On October 9, the trial of Kwok Yin-sang commenced at West Kowloon Magistrates’ Courts.

He is charged under Article 23 of the Hong Kong Basic Law for allegedly handling funds belonging to his daughter, fugitive activist Anna Kwok.

The case is the first instance in which a family member of a wanted activist is criminally prosecuted under Hong Kong’s national-security law.

Kwok pleaded not guilty and the hearing has been adjourned to December 23 for closing arguments.

Several other prominent cases advanced last month.

A 19-year-old woman pleaded guilty to sedition after appearing in videos promoting a “shadow legislature” the authorities deem subversive, while a 16-year-old boy admitted to conspiring to commit secession over his alleged involvement with a Taiwan-based independence organisation.

Separately, an 89-year-old man was arrested on October 1 under the Safeguarding National Security Ordinance for setting up a demonstration, though he was later released on bail.

In a separate domain, scrutiny of the independent film scene intensified, as the city’s film regulator confirmed that since November 2021 a total of 13 films had been banned on national-security grounds and 50 required edits.

This comes as the Office for Film, Newspaper and Article Administration refused to publish a full list of the titles affected.

On the diplomatic front, Hong Kong and Chinese authorities rebuffed UK and US calls for the release of media tycoon Jimmy Lai ahead of the anticipated verdict in his national-security trial.

Beijing’s top diplomat in Hong Kong delivered a warning to the newly appointed US consul general, Julie Eadeh, issuing so-called “four don’ts” in relation to contact with activists, foreign interference and national-security cases.

The government reported that as of November 1 a total of 348 individuals had been arrested on suspicion of acts endangering national security since the law came into effect in 2020. Among those charged, 172 persons and one company are either convicted or awaiting sentencing; 77 people have been convicted under the national-security law.

The figures illustrate how national-security policies have become an established part of Hong Kong’s legal and political landscape.

Observers say the latest developments signal a continuation of the city’s wide-ranging security enforcement phase, reflecting Beijing’s intention to maintain tight oversight of dissidence, foreign links and media operations in its global financial centre.

For Hong Kong, the sixty-fourth month of enforcement reaffirms that national-security policy remains among the most consequential influences on the territory’s rule-of-law environment and international standing.

“Hong Kong has transformed from a contesting space into one of managed stability,” said one legal analyst.

“What we are seeing now is the long-term phase of a security regime that far outlasts the immediate protest era.”
Read MoreShow Less
ShareEmailLink

Hong Kong Lawmakers Reject Same-Sex Partnership Bill Despite Court Mandate

Legislative Council votes 71 to 14 against limited legal recognition for same-sex couples, leaving the government under pressure to meet a court deadline
Hong Kong’s Legislative Council has voted down a government-proposed bill that would have offered limited legal recognition for same-sex couples, marking a significant setback for LGBTQ rights in the city.

The legislation, rejected by 71 votes to 14 with one abstention, was introduced in response to a 2023 Court of Final Appeal ruling that required the government to create a framework for recognizing same-sex partnerships by October 2025.

The proposed Registration of Same-Sex Partnerships Bill sought to grant couples certain civil rights, including hospital visitation, access to medical information, authority over organ donation, and decision-making in funeral arrangements.

The measure would not have legalized same-sex marriage but was intended to bring Hong Kong into compliance with the court’s directive.

Opponents, including pro-Beijing legislators and conservative religious figures, argued that the bill undermined traditional Chinese family values and that society lacked consensus on the issue.

Some lawmakers warned it could open the door to full marriage equality, which the government has said is not currently under consideration.

Following the vote, the government expressed disappointment but said it would respect the outcome and explore alternative administrative options to fulfill its obligations under the court order.

Rights advocates described the veto as a “missed opportunity” for Hong Kong to demonstrate inclusivity and align with global standards of equality.

Surveys from the Chinese University of Hong Kong have found that around 60 percent of residents support same-sex marriage, indicating growing acceptance among the public despite political resistance.

Activist Jimmy Sham, whose legal case prompted the original ruling, said the rejection was regrettable but vowed to continue pressing for change.

Legal analysts warned that the government must still comply with the court’s timeline, raising the possibility of renewed judicial intervention if no viable framework is introduced.
Read MoreShow Less
ShareEmailLink

Hong Kong Police Enhance ‘HKSOS’ App With Live Group Tracking and Expanded Contacts

Outdoor-safety tool has already aided 272 rescues since January 2024 and will receive major upgrade in December
Hong Kong’s police force is preparing a significant upgrade to its “HKSOS” mobile application this December that will introduce live location sharing for groups and increase the number of emergency contacts users can designate.

Since its launch in January 2024, the app has been credited with aiding the rescue of 272 people.

Senior Superintendent Swalikh Mohammed of the Digital Policing Services Bureau reported that the app has achieved 150,000 downloads to date and that all search-and-rescue missions involving the app so far have been completed without prolonged delays.

The current version allows users—particularly those engaging in outdoor activities like hiking, paragliding and canoeing—to alert the 999 emergency call centre with a single tap.

An upcoming feature upgrade will enable users to form groups of up to ten people and track each other’s locations in real time throughout a journey.

Another enhancement is the further deployment of the patented “Signal Radar” technology, which allows rescue teams to pinpoint a user’s location even if the mobile device lacks signal reception.

Rescuers may use the radar on helicopters or drones in terrains where conventional telecoms coverage is unavailable or unreliable.

The new version is part of the police’s broader push to boost outdoor safety in Hong Kong’s challenging terrain and strengthen the connection between digital tools, live rescue capability and community involvement.

The force is also increasing public education efforts to raise awareness of the app’s features and promote its relationship with designated emergency contacts as part of its “outdoor safety-first” initiative.

With the upgraded functionalities, the app is expected to enhance response times and coordination among users and rescuers—particularly for remote or signal-poor areas—and broaden the safety net for both individuals and small groups engaged in outdoor recreation.
Read MoreShow Less
ShareEmailLink

Hong Kong Takes Centre Stage in 15th National Games as Greater Bay Area Hosts Debut

Co-hosting on November 9–21 underscores the region’s strategic role and integration under the Greater Bay Area plan
Hong Kong has stepped into a pivotal role as co-host of the 15th National Games of China, playing a key part alongside Guangdong province and Macau in what is the first-ever multi-jurisdiction sporting event of its scale across the Greater Bay Area (GBA).

The Games run from November 9 to 21 and represent a milestone in both sports and regional integration.

The city will stage eight sports events, with venues such as Victoria Park and others already declared “ready” by Chief Secretary Chan Kwok-ki, who described Hong Kong’s involvement as of “immense significance” and a sign of the central government’s confidence.

The co-hosting arrangement expands Hong Kong’s international event-hosting credentials and aligns closely with national priorities under the GBA framework.

Observers say the Games offer more than competition: they act as a vehicle for infrastructure connectivity, tourism growth, talent mobility and the alignment of regulatory regimes across the GBA.

One standout example is the cross-border road cycling route beginning in Zhuhai, passing over the Hong Kong–Zhuhai–Macao Bridge and into Hong Kong’s territory, symbolising the region’s evolving integration.

While the event marks a significant shift in scope, it also brings operational and logistical challenges, including the coordination of immigration, venue readiness and cross-border services.

Hong Kong’s dedicated National Games Coordination Office is managing these demands in partnership with mainland and Macau authorities.

For Hong Kong’s government, hosting parts of the Games is an opportunity to reinforce the city’s status as a global sports hub and to deepen its links with neighbouring cities in the GBA.

Chan said the legacy will extend beyond November, helping sustain the city’s sports, tourism and development agenda in the years ahead.
Read MoreShow Less
ShareEmailLink

Hong Kong Positioned as Strategic ‘Accelerator’ in China’s Trade Shift

As mainland China diversifies exports and markets, Hong Kong plays a growing intermediary role for regional and global flows
China’s merchandise trade has shown resilience this year, expanding by around six per cent in yuan terms for the first nine months of 2025. This growth momentum reflects steady external demand and an evolving trade structure aimed at mitigating reliance on any single market.

However, the regional performance has been uneven.

Exports to the United States fell by 27 per cent year-on-year in September, while shipments to the European Union rose 14.2 per cent.

Exports to Africa surged 56.4 per cent, and trade with the ASEAN (Association of Southeast Asian Nations) region increased 15.6 per cent, highlighting Beijing’s push for greater diversification.

Within this shifting landscape, Hong Kong’s role has gained strategic importance.

Official data show goods trade between mainland China and the city stood at US$261.56 billion in the first nine months of 2025, with mainland imports from Hong Kong climbing 86.6 per cent year-on-year in dollar terms.

Mainland China’s exports to Hong Kong also rose by 12.6 per cent, outpacing last year’s growth.

Survey data from the Hong Kong Trade Development Council indicate a marked improvement in exporter sentiment: in the third quarter the confidence index rose decisively above the fifty-point threshold for current and expected conditions, with 64 per cent of respondents anticipating stable or improving profit margins.

Many cited the mainland and ASEAN markets as key growth drivers.

Analysts say Hong Kong is increasingly acting as a trade “accelerator” for China’s pivot away from traditional Western markets towards the global south and intra-Asian corridors.

Its deep integration with the mainland, robust service and logistics infrastructure, and liberal trade regime afford the city a unique intermediary function.

The city is poised to leverage this in upcoming initiatives such as joining the Regional Comprehensive Economic Partnership and expanding Belt-and-Road linkages.

While headwinds such as trade tensions, global slowdowns and competition from other regional ports remain, Hong Kong’s evolving role suggests it could harness its free-port status and gateway position to support China’s broader trade strategy.

Its success will depend on how effectively it moves beyond bottlenecks and enhances value-added services to maintain its standing in the changing architecture of global commerce.
Read MoreShow Less
ShareEmailLink

Hong Kong Unveils Bespoke Travel Packages Ahead of National Games Tourism Surge

Major travel agencies tailor high-end visitor offers as the city co-hosts the 2025 National Games alongside Guangdong and Macau
Hong Kong’s travel sector is ramping up for a significant influx of visitors as the city prepares to co-host the 15th National Games of China from November 9 to 21 alongside Guangdong and Macau.

Travel agencies are offering bespoke packages aimed primarily at mainland Chinese tourists, with the region expecting around one hundred thousand additional visitors during the event.

The bespoke travel offerings focus on high-spend sports tourists and include four-star to five-star hotel stays, chartered transport and access to events such as rugby sevens, golf, beach volleyball and basketball.

Tour operators say the premium demographic is particularly drawn to the multifaceted experience—combining high-profile sport with Hong Kong’s famed leisure and hospitality scene.

Accommodation deals have already emerged, such as one at a flagship hotel near Kai Tak Sports Park, offering exclusive rates and benefits for National Games ticket-holders.

Meanwhile, mainstream agencies are promoting customised itineraries that bundle sports event access with luxury dining, retail and regional experience, positioning Hong Kong as a destination for more than just leisure tourism.

Independent travel, however, is expected to dominate the visitor mix.

Because ticketing for many events requires individual registration under the event organisers’ rules, large group tours face constraints.

Travel firms anticipate that many visitors will self-book their tickets and then seek premium accommodation or local experiences, resulting in strong spill-over for hospitality, retail and food & beverage sectors.

Economists caution that while this surge presents a window of opportunity for Hong Kong’s tourism industry, the long-term economic uplift may be modest.

Shared hosting with Guangdong and Macau diffuses direct financial gains for the city and high accommodation costs may discourage longer-stay mainland visitors.

Even so, tourism authorities hope the National Games will enhance the city’s sports-tourism profile and attract a more mature, high-value visitor segment in the years ahead.

As the city prepares for the Games, travel agencies and hotels alike are betting on sports tourism to accelerate Hong Kong’s repositioning as a destination for premium leisure, business and event travel alike.
Read MoreShow Less
ShareEmailLink

Hong Kong Embraces Pivotal Role as Co-Host for China’s National Games

With eight events under its belt Hong Kong gears up for action ahead of the November 9 opening ceremony
Hong Kong is firmly in action ahead of the opening ceremony of the 15th National Games of China on November 9, serving as co-host alongside Guangdong and Macau for a historic multi-jurisdiction sporting event that runs until November 21. The city will stage eight competitions and is already seeing “sell-out” crowds and high anticipation.

Major venues such as Kai Tak Sports Park and Victoria Park have been prepared for events ranging from beach volleyball to men’s handball and rugby sevens.

One official noted that day-passes for key events featuring fencing champion Cheung Ka-long have already been snapped up, and shopping centres across all eighteen districts are set to livestream the action as for the Paris Olympics.

Chief Secretary Eric Chan Kwok-ki described the arrangement as enhancing Hong Kong’s reputation, saying that the central government’s “high degree of trust” in the city underlines its capability to deliver large-scale competition.

He added that hosting the Games will deepen cooperation within the Guangdong-Hong Kong-Macao region, promote tourism and help bolster economic development.

Observers say that co-hosting the Games is not just about sport.

It symbolises the city’s growing role within the Greater Bay Area initiative and the integration of infrastructure, talent and jurisdictions across the three regions.

While there remain significant organisational and logistical demands—border coordination, venue readiness and large crowds—Hong Kong’s preparation appears well advanced.

As the Games kick off in earnest, the success of Hong Kong’s hosting efforts will be closely watched—not only by athletes and spectators, but by regional planners assessing the city’s place in the evolving Greater Bay Area framework.
Read MoreShow Less
ShareEmailLink

Hong Kong Embraces AI, Blockchain and Tokenisation as FinTech Growth Drivers

Financial-services chief cites tripling of startups over decade and signals tech pivot after JPEX fallout
Hong Kong’s fintech ecosystem has grown significantly over the past decade, and the special administrative region’s government is now looking to artificial intelligence (AI), blockchain and tokenisation as key drivers for the next phase of innovation.

The city’s Financial Services and the Treasury Bureau Director, Xu Zhengyu, spoke publicly about the shift after marking ten years of FinTech Week.

Xu noted that startups in the city have increased from about 1,600 to nearly 5,000 over ten years, with around 1,200 fintech firms now active—representing consistent year-on-year growth.

He said the quantitative expansion was now giving way to qualitative changes, as the ecosystem matures and embraces new technologies.

Turning to the future, Xu identified AI, blockchain and tokenised assets as “the current phase” of fintech development.

He pointed to examples such as converting long-term rental income into tokenised investment products and using blockchain to underpin asset-income streams like electric-charging stations.

According to Xu, these real-world applications signal that fintech is moving beyond pilot stage into implementation.

Xu also addressed the aftermath of the JPEX cryptocurrency case, which saw losses exceeding HK$1.5 billion (about US$190 million) after an unlicensed digital-asset platform restricted withdrawals.

He acknowledged that rapid growth presents challenges, especially in investor education and understanding of new products, and stressed the importance of strengthening awareness and transparency as the city develops its technology-driven finance agenda.

The commentary coincides with the launch of a five-year plan dubbed “Fintech 2030”, with the Hong Kong Monetary Authority’s roadmap identifying data infrastructure, AI, resilience and tokenisation as its four strategic pillars.

Industry observers say the renewed focus positions Hong Kong to leverage its role as an international finance centre and to integrate the mainland-Hong Kong market with new digital-asset protocols.

Xu concluded that although the journey is far from complete, the city is well-placed to harness the intersection of finance and technology: “We can also see qualitative changes as the ecosystem becomes richer and more mature,” he said—adding that education and cautious rollout will be key to ensuring innovations benefit investors and businesses alike.
Read MoreShow Less
ShareEmailLink

Xi Jinping Tasks Guangdong with Leading Greater Bay Area Integration

During a visit to southern China, the Chinese president urged Guangdong to deepen cooperation with Hong Kong and Macau across technology, infrastructure, and governance to drive regional development
President Xi Jinping has directed Guangdong province to take a leading role in advancing the Guangdong-Hong Kong-Macao Greater Bay Area initiative, calling for stronger cooperation with the two special administrative regions in innovation, infrastructure, regulation, and governance.

His comments, delivered during an inspection tour of the province, mark his most detailed remarks on the Greater Bay Area since the Communist Party’s Central Committee outlined priorities for China’s next five-year development plan.

Xi told senior Guangdong officials that developing the Greater Bay Area is both a major responsibility and a rare opportunity, urging them to expand ties with Hong Kong and Macau in areas such as technology, infrastructure connectivity, market regulation, and judicial collaboration.

The Greater Bay Area, which includes Hong Kong, Macau, and nine Guangdong cities, aims to build an integrated economic and innovation hub to rival global metropolitan regions such as Tokyo Bay and the San Francisco Bay Area.

The initiative is a cornerstone of Beijing’s broader effort to modernize China’s southern economy and foster cross-border synergy under the 'one country, two systems' framework.

Xi’s call for deeper alignment follows recent progress in joint Guangdong-Macau projects, including the Hengqin Cooperation Zone, which has advanced cross-border business integration and talent exchanges.

Analysts say the new emphasis underscores Beijing’s intent to solidify Guangdong’s role as the anchor of China’s high-tech and manufacturing transformation.

However, aligning distinct legal and financial systems between the mainland and the two special administrative regions remains a complex challenge.

Xi’s message makes clear that Guangdong’s mission is to turn policy ambitions into practical outcomes, reinforcing the Greater Bay Area as a pivotal driver of national growth.
Read MoreShow Less
ShareEmailLink

Professionals’ Representation Falls to 28 % Among 161 Candidates in Hong Kong’s LegCo Election

The number of candidates declaring professional backgrounds drops by ten percentage points from last poll amid evolving electoral contests
Only forty-five, or twenty-eight per cent, of the one hundred and sixty-one candidates for Hong Kong’s upcoming Legislative Council election have declared professional occupations such as teaching, law, accountancy, engineering or architecture—a ten-percentage-point decline compared with the previous election cycle.

The drop occurs despite an overall rise in nomination numbers and signals a shifting candidate profile ahead of the 7 December poll.

The most pronounced decline is in the sector-based functional constituencies, where the number of professional candidates has fallen from twenty-five in 2021 to just fifteen in the current contest.

In nearly all of the twenty-eight functional constituencies there are only two contenders each, compared with multiple-way races in the past.

For example, in 2021 some seats such as the medical and health services and accountancy sectors attracted five-way and four-way contests respectively; such competition has now nearly vanished.

Across all constituencies, nineteen professionals are standing in the Election Committee constituency and eleven in the geographical constituencies, showing slight shifts in candidate placement though a general retreat from the professions in the functional blocs.

Among the professional-background contestants are twelve from the legal sector—including Thomas So Shiu-tsung, a former president of the Law Society—and eleven academics or teachers such as Ray Cheung Chak-chung of City University.

Analysts suggest the reduction in professional-sector participation may reflect changes in the electoral environment and candidate dynamics since the 2021 reforms.

With fewer competitors in each functional-sector race and more district-councillors and local community figures seeking nomination, observers note a change in the mix from sector-based professional representation to broader civic-layer candidacies.

The 2025 election will also feature a high-number of newcomers and retirements, making it a critical test of the legislature’s evolving composition.

The nomination period closed with 161 valid forms submitted, already slightly higher than in the prior cycle.

Returning officers are now vetting eligibility under the Candidate Eligibility Review mechanism, with final lists set to be published in the Government Gazette within 14 days.

Voting will proceed on 7 December for the full 90-member legislature under the reformed electoral system.
Read MoreShow Less
ShareEmailLink

China’s Biotech Boom Redefines Global Drug Innovation Landscape

Chinese firms strike multiple billion-dollar licensing deals in 2025 as the country emerges as a major pharma exporter
China’s biopharmaceutical industry is entering a new era of global influence, having secured a wave of billion-dollar licensing agreements with major international drug companies this year.

These deals mark a decisive shift: Chinese firms are no longer just catching up, they are now shaping the direction of global pharmaceutical innovation.

In December 2022 one landmark accord saw US drug-maker MSD licence global (ex-China) rights to seven antibody-drug conjugate (ADC) cancer candidates from Sichuan Kelun‑Biotech Biopharmaceutical for an upfront payment of US$175 million and potential milestone payments of up to US$9.3 billion.

Analysts regard that deal as the turning point for China’s export-oriented biotech ambitions.

By the first eight months of 2025 Chinese biotech companies had concluded at least 93 overseas licensing agreements totalling approximately US$85 billion in potential value—demonstrating how China has become a major exporter of innovative medicines, rather than merely a manufacturing base for foreign drugs.

Much of the momentum is rooted in oncology: ADCs, bispecific antibodies and other high-complexity therapies developed in China are now attracting global investment at scale.

One estimate projects China’s outbound licensing activity may reach US$60 billion across more than 150 deals by year-end.

Several structural factors underpin this surge: improved R&D capabilities in China, regulatory reforms that accelerate development and approval, and cost advantages that make Chinese-origin assets attractive to Western pharmaceutical companies facing pressure from patent expiries and pricing constraints.

In the first quarter of 2025 China accounted for 32 % of global out-licensing value, up from 21 % the previous year.

Although concerns remain—including regulatory scrutiny overseas, supply-chain tension and domestic pricing pressures—Chinese biotechs are increasingly positioned as sources of high-value assets.

Their transformation from generic-drug makers into global innovators signals a major strategic shift in the international drug-development ecosystem.

The broader implication is that global pharmaceutical firms must now engage China not simply as a market but as a partner in research and innovation.

With more high-value deals expected, China’s biotech industry is stepping into a new role as a pillar of the global drug pipeline and a key driver of medical innovation.

The pace and scale of these licensing agreements suggest that the age of China as a purely manufacturing powerhouse is coming to an end—and it is becoming a strategic collaborator in defining the next generation of therapies.
Read MoreShow Less
ShareEmailLink

Hong Kong Police and ICAC Arrest 32 in HK$140 Million SME Loan Fraud

Operation ‘Momentum’ uncovers coordinated scam exploiting government-guaranteed financing, with bribery of frontline bank staff
Hong Kong’s anti-corruption agency and police have arrested 32 individuals — including 13 frontline bank employees — as part of a joint operation that uncovered a HK$140 million (US$18 million) fraud involving government-backed small- and medium-enterprise (SME) loans.

The sting, designated Operation “Momentum”, took place on October 30 and 31 and targeted 28 loan applications submitted on behalf of 22 SMEs.

The Independent Commission Against Corruption (ICAC) revealed that bribes totalling HK$500,000 were paid to staff at ten banks to facilitate the scheme.

Investigators say intermediaries orchestrated the entire process, from application preparation to bank submission, with the involvement of both loan applicants and bank insiders.

The loans in question stem from the SME Financing Guarantee Scheme, which offers 80 %, 90 % and 100 % government guarantees for eligible firms—measures originally intended to assist businesses amid the Covid-19 pandemic.

The 100 % guarantee product launched in April 2020 and ran until March 2024.

ICAC principal investigator Grace Yee Hin-Lai cautioned that the misconduct was enabled by weak oversight in the loan-guarantee process and noted that banks and commercial clients alike would face more rigorous checks going forward.

The Hong Kong Monetary Authority and the Hong Kong Mortgage Corporation Limited are working with regulators to review the integrity of the guarantee scheme in light of the arrests.

Banking sources say affected institutions are now conducting internal reviews of staff-referral processes and enhancing training on detecting illicit loan submissions.

Authorities froze some assets and are investigating how funds flowed once disbursed.

The case adds to a series of recent loan-fraud operations in Hong Kong, underlining the challenges facing pandemic-era relief programmes when exploited by well-organised syndicates.
Read MoreShow Less
ShareEmailLink

Hong Kong Travel Firms Eye Major Boost from National Games Amid Visitor Surge

Travel agencies launch event packages for mainland visitors as Hong Kong expects more than 100,000 attendees for the Games
Hong Kong’s travel agencies are capitalising on the upcoming 15th National Games by introducing specialised tour packages for mainland Chinese visitors, coinciding with a broader tourism rebound in the city.

The Games, jointly hosted for the first time by Hong Kong, Guangdong and Macau, are projected to draw more than 100,000 visitors to local venues throughout the month.

Tour operators said the focus is on premium packages that combine attendance at sporting events with leisure activities.

Golf and rugby sevens have proven the most popular attractions.

Timothy Chui Ting-pong, executive director of the Hong Kong Tourism Association, said mainland tour groups are generally smaller and composed of a more mature demographic with higher spending power.

The city will host eight disciplines of the Games, including fencing, track cycling, triathlon, beach volleyball, men’s handball, men’s under-22 basketball and golf.

Packages typically include dining, shopping and sightseeing to extend visitor stays and enhance economic impact.

Industry representatives noted that limited ticket allocations for tour groups could pose a challenge but expressed optimism that flexible arrangements and additional travel permits would help meet demand.

Tourism analysts said the National Games present a valuable opportunity to position Hong Kong as both a sports and leisure destination, strengthening its international appeal.

The event marks a milestone for the city’s sports tourism sector, blending large-scale athletic competition with cultural and recreational experiences designed to boost long-term visitor engagement.
Read MoreShow Less
ShareEmailLink

Singapore Battery-Recycler Wins Top Prize at Hong Kong’s EPIC Start-Up Competition

Start-up from Singapore crowned overall champion at EPIC 2025; separate track winners in fintech and healthtech also announced
A Singapore-based battery-recycling start-up has claimed the overall title at the ninth edition of EPIC 2025 (Elevator Pitch International Competition), hosted by the Hong Kong Science and Technology Parks Corporation (HKSTP) at Hong Kong’s Kai Tak Cruise Terminal.

More than one hundred semi-finalists from 28 economies gathered to compete for a top cash prize of US$60,000 and exposure to the region’s leading investors.

The winner, a Singaporean venture specialising in battery-recycling technologies, impressed judges with its circular-economy model and will receive the US$60,000 prize.

The competition also honoured winners in three tracks: fintech, digital healthtech and greentech.

Singapore’s Belli, which develops air-cargo software, took the fintech prize of US$20,000, while Canada’s KA Imaging secured the digital healthtech award after presenting a spectral X-ray system able to differentiate materials.

EPIC 2025 drew a record load of applications — nearly 1,200 start-ups from over 70 countries entered this year’s edition, reflecting the event’s growing status as Asia’s top pitch competition.

As part of the programme, finalists participated in networking and investor-matching sessions during EPIC Week at Kai Tak, with the Grand Finale broadcast globally.

HKSTP officials described the event as a showcase of Hong Kong’s ambition to serve as a launchpad for innovation into the Greater Bay Area and wider Asia.

The success of the battery-recycler underscores the growing interest in greentech solutions targeting the circular-economy and energy-storage sectors — areas that are increasingly strategic for Asia’s technology and sustainability agenda.

Investors and won-up participants alike noted that the competition provided a rare platform for smaller clean-tech start-ups to access capital, mentorship and regional market opportunities.

With EPIC now firmly established on the global start-up calendar, the spotlight is on how the winners convert their pitch success into commercial and regional growth.
Read MoreShow Less
ShareEmailLink

Sungrow’s Hong Kong IPO Marks Strategic Shift Toward Energy Storage and Global Expansion

Chinese solar giant seeks $126.7 million in Hong Kong listing to fund diversification amid trade and supply chain pressures
Chinese renewable energy manufacturer Sungrow Power Supply Co. has filed for an initial public offering on the Hong Kong Stock Exchange, aiming to raise approximately $126.7 million through the sale of 338 million shares.

The listing is designed to strengthen its capital base for investment in next-generation solar and energy storage technologies while expanding production and research capabilities overseas.

The move highlights Sungrow’s growing pivot from its traditional inverter business toward broader energy solutions.

In the first half of 2025, Sungrow reported revenue of $6.1 billion, a year-on-year increase of around 40 percent, while net profit rose by roughly 56 percent.

For the first time, international markets accounted for 58 percent of total sales, surpassing domestic revenue.

The company’s energy storage systems business has surged, growing 127 percent year-on-year to $2.45 billion, and now makes up more than 30 percent of total revenue.

In contrast, the contribution of inverters has declined to about 35 percent.

In its prospectus, Sungrow cited “uncertainties associated with tariffs, international trade regulations, and geopolitical tensions” as key business risks.

Analysts say the Hong Kong listing will help diversify Sungrow’s access to global capital while reducing exposure to policy constraints linked to the ongoing U.S.–China trade dispute.

Industry observers view the IPO as part of a wider transformation among Chinese clean energy manufacturers.

Increasingly, companies are expanding beyond single-technology products into integrated renewable systems such as solar-plus-storage and hybrid energy plants.

Sungrow’s evolution mirrors this shift, positioning it as both a leading technology provider and a participant across multiple segments of the clean-tech value chain.

By securing funds in Hong Kong, Sungrow aims to accelerate its global manufacturing buildout and consolidate its position as one of the world’s foremost renewable technology companies amid a rapidly evolving market landscape.
Read MoreShow Less
ShareEmailLink
Playlist Hide
0:00
0:00
Open
0:00
0:00
Close
China Accelerates Tech Push from Reusable Rockets to Deep-Sea Exploration
Canada’s New Immigration Policy Offers Little Relief for Hongkongers Awaiting Permanent Residency
Hong Kong Luxury Rentals Poised for 3–5% Rise as Expats Return
China’s Moonshot AI Unveils Kimi K2 Thinking, Challenging Western AI Front-Runners
Hong Kong Reaffirms Status as Shipowning Centre Even as US Builds Its Own Fleet
Hong Kong Launches Third Multi-Currency Digital Green Bond to Cement Tokenisation Ambitions
Hong Kong Maintains Storm Signal No. 1 as Typhoon Fung-wong Skirts East
Etihad and Hong Kong Airlines Forge Expanded Codeshare and Loyalty Alliance
Towngas Deploys Hong Kong’s First Integrated Hydrogen Generator to Power National Games Venue
Hong Kong and Macao Table Tennis Stars Launch National Games Campaign with Mixed Doubles Victory
Xi Jinping Opens China’s 15th National Games as Hong Kong’s Lee Hails Co-Hosting Honour
Stack’s Bowers & Ponterio’s October 2025 Hong Kong Auction Realises Over US$18 Million
Hong Kong Marks Sixty-Fourth Month of Security Crackdown with High-Profile Trials and Arrests
Hong Kong Lawmakers Reject Same-Sex Partnership Bill Despite Court Mandate
Hong Kong Police Enhance ‘HKSOS’ App With Live Group Tracking and Expanded Contacts
Hong Kong Takes Centre Stage in 15th National Games as Greater Bay Area Hosts Debut
China’s Biotech Boom Redefines Global Drug Innovation Landscape
Hong Kong Police and ICAC Arrest 32 in HK$140 Million SME Loan Fraud
China’s Robotaxi Leaders Pony AI and WeRide Debut in Hong Kong Amid Listing Frenzy
China Asserts Hong Kong Affair as Internal Matter Amid US Pressure Over Jimmy Lai
AI Researchers Claim Human-Level General Intelligence Is Already Here
Thailand’s Loy Krathong and Yi Peng Festivals Illuminate the Night with Water and Sky Ceremonies
Hong Kong Social Enterprise Restaurant Seeks Local Partner as Founder Considers Stake Dilution
Olympian Vivian Kong Faces Nomination Scrutiny as She Pursues Hong Kong Tourism Seat
Trump Presses Xi Jinping for Release of Hong Kong Media Tycoon Jimmy Lai
Pony.ai and WeRide Shares Slide in Hong Kong Debut After Billion-Dollar Listings
Four Chinese Firms Make Debut on Hong Kong Exchange, Highlighting IPO Surge
Hong Kong Accelerates Food-Waste Recycling Through Energy Conversion at Two Major Facilities
McDonald’s Sells First Hong Kong Property in Asset-Disposal Plan for Approximately US$10 Million
Hong Kong Leverages Dual Legal System to Become Asia’s Arbitration Hub, Justice Secretary Says
China Rolls Out ‘Face-Swipe’ Biometric Clearance at Ports Linking to Hong Kong, Macao and Taiwan
Hong Kong’s Legislature Faces Mass Turnover Amid Criticism of ‘Echo-Chamber’ Dynamics
Beijing Reinforces Hong Kong’s Global Finance Role at Key Summit
Dick Cheney, Former U.S. Vice President, Dies at 84
Hong Kong Emerges as Stablecoin Gateway for Mainland China Firms, Says EBANX
Hong Kong Tapped to Drive China’s Scientific Self-Reliance Through Innovation and Talent
Hong Kong’s Ryan Choi Masters Unorthodox Style to Claim Historic Fencing World Title
China Expands Multiple‐Entry Talent Visa Scheme to HK and Macau from November 5
HK Express Removes Couple After Pre-Flight Brawl on Vietnam-Hong Kong Route
Hong Kong Confirms Third Locally Acquired Chikungunya Case Amid Regional Surge
Olympic Gold-Medallist Vivian Kong Enters Hong Kong LegCo Race for Tourism Sector
Pony AI Sets Maximum Price at HK$180 in Hong Kong IPO Launch
Hong Kong Shares Rise on Signs of U.S.–China Trade De-escalation Over Rare Earths
Alibaba Launches 2 Billion Yuan Investment to Transform 200+ Chinese Convenience Stores into Taobao-Branded Instant Commerce Hubs
China’s Durian Craze Fuels Vietnam’s Spiky Boom — and a Farmer’s Mountain Road Hustle
Hong Kong Lights Up With 10-Kilometre Torch Relay Ahead of National Games
Jensen Huang’s ‘Chimaek’ Dinner Omitted Nvidia’s Key Memory Supplier SK Hynix — Here’s Why
Rosewood Hong Kong Crowned No. 1 in The World’s 50 Best Hotels 2025
Top Seed Belinda Bencic Withdraws from Hong Kong Open With Thigh Injury
Hong Kong Civil Servants Asked to Vote in December LegCo Election