Franklin Templeton has introduced what is described as Hong Kong’s first fully tokenised money-market fund for professional investors, marking a significant step for the city’s fintech ambitions and token-economy build-out.

The fund—known as Franklin OnChain U.S. Government Money Fund—invests in short-term U.S. Treasuries and utilises blockchain tokens registered in Luxembourg for ownership records.

The initiative aligns with the Hong Kong Monetary Authority’s FinTech 2030 strategy, which includes more than forty measures to support tokenisation, digital-asset infrastructure and artificial-intelligence integration.

Franklin Templeton’s entry into Hong Kong follows earlier landmarks such as Singapore’s approval of its retail tokenised fund and Luxembourg’s tokenised UCITS vehicle.

The fund leverages Franklin Templeton’s proprietary Benji Technology Platform, which enables features such as intraday yield distribution and continuous, wallet-to-wallet transfers of tokenised shares.

In its June 2025 announcement the firm highlighted that such tokenised money-market funds can offer greater utility and quicker settlement than traditional structures.

Despite the ambitions, observers note that while the product is tokenised, its current availability is limited to professional investors and it remains to be seen how Hong Kong retail rollout will proceed.

The city’s regulator, the Securities and Futures Commission (SFC), has published guidance on tokenised investment products but secondary trading and full retail access are still evolving.

The fund’s launch underscores Hong Kong’s efforts to position itself as a hub for real-world-asset tokenisation and digital finance.

At the same time, Beijing’s wider caution over cross-border tokenisation and real-world-asset flows means the regulatory environment remains attentive.

Industry participants say that success will depend on adoption by institutional investors, alignment with settlement infrastructure and clarity of regulation.

For now, the fund represents a bold step in blending traditional cash-management instruments with blockchain rails, and signals that global asset managers view Hong Kong as a strategic frontier for tokenised fund innovation.

China has embarked on formulating its 15th Five-Year Plan (2026-30), and for Hong Kong this next phase presents not merely opportunities but an imperative for strategic realignment and deeper integration.

From the vantage point of a member of the Chinese People’s Political Consultative Conference National Committee, an adviser to the Ministry of Finance and a veteran investor in emerging technologies, the 15th-FYP offers a definitive blueprint for Hong Kong to solidify its unique advantages, catalyse industrial upgrading, expand its tax base, and amplify its role as the indispensable bridge for mainland enterprises venturing globally—all while strengthening the Guangdong-Hong Kong-Macao Greater Bay Area and contributing significantly to national objectives.

Hong Kong’s traditional prowess in finance, trade and logistics remains foundational.

However, the 15th-FYP’s emphasis on new quality productive forces—driven by technological innovation and high-end manufacturing—demands that Hong Kong proactively diversify and upgrade its economic structure.

Our strengths in intellectual property protection, common law, free flow of capital and information and world-class universities position us uniquely to become a global hub for the emerging industries crucial to the 15th-FYP.

In sectors such as artificial intelligence and digital assets, Hong Kong can leverage its robust financial infrastructure and regulatory agility to become a leading centre for AI-driven fintech, responsible digital-asset development and Web3 innovation.

Clear, forward-looking regulation is key to attracting global talent and capital in these fields.

By establishing dedicated clusters—for instance expanding Cyberport’s mandate—Hong Kong can gain the critical mass needed to foster these ventures.

In biotechnology and health-tech, with strong research capabilities, a sophisticated healthcare system and IP safeguards, Hong Kong is primed to be a Greater Bay Area and Asian leader in biotech R&D, clinical trials and health-tech commercialisation.

Deepening collaboration with Shenzhen’s biomedical hubs and leveraging the Northern Metropolis for R&D facilities is essential.

Green-finance and tech also form an important plank.

Aligned with the national “dual-carbon” goals, Hong Kong must scale its green-finance leadership.

This involves not just facilitating green bonds, but actively investing in and incubating climate tech, sustainable infrastructure solutions and carbon-market mechanisms—thus attracting environmental-social-governance-focused global capital.

A broader, more resilient economy naturally expands the tax base.

At the same time, proactive measures aligned with the 15th-FYP can further enhance fiscal sustainability: targeted policies to attract regional headquarters, treasury centres, R&D hubs and high-growth tech firms (especially in AI, biotech and green tech) will broaden corporate tax revenues beyond traditional finance and property.

Successfully capturing the industrial upgrade outlined earlier will be essential.

Leveraging family offices and wealth-management hubs can bring not only management fees but stimulate investment in local ventures and philanthropy, creating a virtuous cycle.

Modernising tax policy—while maintaining a simple and low-tax regime—by exploring modern concessions for R&D spending or specific green/social investments can stimulate desired activities without compromising our fundamental attractiveness.

Stability and predictability remain paramount.

The 15th-FYP also intensifies the push for mainland enterprises to expand internationally, enhancing brand presence, securing global resources and integrating into global value chains.

Hong Kong’s role here is irreplaceable: its world-class legal, accounting, consulting, risk-management and fundraising expertise is critical for cross-border mergers, listings, compliance and dispute-resolution.

Hong Kong provides a stable, familiar platform for mainland firms to test international waters, manage currency- and geopolitical risks, and access global capital markets and partnership networks before venturing further afield.

As the world’s largest offshore RMB hub, Hong Kong is central to facilitating cross-border trade and investment settlements in RMB—reducing forex risk for mainland companies and supporting the currency’s global role.

Deepening integration with the Greater Bay Area is a key component of realising this vision.

Hong Kong must act as its international R&D front-end and fundraising centre.

Shenzhen, Guangzhou and others provide scale-up manufacturing and vast market access.

Breaking down residual barriers to talent, capital and data flow across the border is crucial.

Cross-border recognition of professional qualifications is vital.

We must avoid duplication and instead focus on complementarity—Hong Kong’s global connectivity, IP framework and professional services aligning with the mainland’s industrial capacity, huge talent pool and cutting-edge research infrastructure.

The Northern Metropolis policy is a tangible opportunity to create this synergy on the ground.

The 15th-FYP is not a distant policy document—it is the road-map for the country’s next transformative leap.

For Hong Kong, embracing this plan with strategic urgency is not optional—it is essential for its future relevance, prosperity and continued contribution to national advancement.

By aligning its development trajectory tightly with the national vision, focusing on industrial upgrading, sustainable revenue streams and amplifying its super-connector role, Hong Kong can secure its own vibrant future while making an unparalleled contribution to the realisation of the Chinese Dream.

A total of 161 candidates, many younger in profile, are now competing for 90 seats in Hong Kong’s upcoming Legislative Council election, marking a roughly five-per-cent increase over the previous poll and leaving no seat uncontested.

The nominations window closed on Thursday, ahead of the December 7 election — the second under the revamped “patriots-only” system.

Among the most striking developments is that up to 35 incumbent lawmakers, including long-serving member Paul Tse Wai-chun who entered the legislature in 2008, have chosen not to seek re-election — the largest number since 1997. Notably, all incumbents aged 70 or over have stepped aside, clearing the way for a new generation of aspirants.

Competition is especially intense in the city’s directly elected geographical constituencies.

In the newly redrawn configuration, up to 51 contenders are vying for 20 seats — a significant rise from 35 candidates in 2021 and an increase of 45.7 per cent.

In several constituencies candidates number five or six for each pair of seats, reflecting heightened contestation within the limited electoral tier.

In the New Territories North and New Territories South-East regions, the entire candidate field consists of newcomers, with no sitting lawmakers seeking re-election.

By contrast, veteran politicians from larger parties have withdrawn, citing age or a desire for renewal.

Analysts view the influx of new entrants and exodus of veterans as part of Beijing’s broader strategy to rejuvenate the legislature and align it more closely with governance and performance-focused mandates.

While the increased candidate numbers suggest more engagement, observers remain cautious over whether competition in a system tightly managed by the Candidate Eligibility Review mechanism will translate into meaningful electoral choice or higher voter turnout.

With the nomination period concluded, attention now turns to the campaign phase and whether the new-look legislature will inject fresh perspectives into the city’s policy-making process.

Hong Kong-based carrier Cathay Pacific Airways announced that it will repurchase the entire 9.57 per cent stake currently held by Qatar Airways, subject to independent shareholder approval.

The buy-back will cost approximately HK$6.96 billion (about US$896 million) and covers 643.07 million shares at a price of HK$10.8374 each.

The transaction comes after Qatar Airways expressed its intention to sell its entire holding in the airline, prompting Cathay to move swiftly.

The share price offered represents a discount of roughly 3.9 per cent to the previous close of HK$11.28, and about 0.5 per cent above the thirty-day average of HK$10.78. On the morning following the announcement, Cathay’s shares rose about 3 per cent to HK$11.62.

Cathay said the purchase will be funded via internal resources and existing credit facilities, reflecting the company’s view of its financial strength and outlook.

In a statement, chairman Patrick Healy said the move “reflects our strong confidence in the future of the Cathay Group and underscores our commitment to the development of the Hong Kong international aviation hub.”

The deal will see Qatar Airways exit its six-year investment in Cathay, which began in 2017 when it initially acquired a similar level of shares.

With the repurchase completed, the airline’s ownership structure will further consolidate, reinforcing the positions of the key shareholders, including Swire Pacific and Air China.

Analysts interpret the transaction as a strategic step for Cathay to bolster its control and reduce minority-shareholder influence, while signalling confidence amid strong passenger recovery and investment in fleet and network expansion.

The carrier has in recent months reported rising profits, placed large aircraft orders and resumed its full-service focus as global travel rebounds.

Execution of the buy-back remains conditional on independent shareholder approval at an extraordinary general meeting.

Once cleared, the transaction will complete the exit from Qatar Airways and solidify Cathay’s path towards its next phase of growth and hub development in Asia.

At five months pregnant, Daisy* was suddenly asked to leave her employer’s home in Hong Kong. The Filipino domestic helper says she was shown the door in the middle of the night, abandoned and terrified with no family or support in the city.

Daisy’s experience reflects a broader pattern among the city’s domestic helpers, who face numerous barriers when they become pregnant while working in Hong Kong. A report by the charity PathFinders – published in September 2025 – found large knowledge gaps among employers regarding legally mandated maternity protections, highlighting how foreign domestic helpers are often dismissed, isolated or left in limbo despite legal safeguards. The study found that fifty-one per cent of surveyed employers were unaware of maternity rights and eighty-four per cent wrongly believed helpers could be legally dismissed for pregnancy.

The rights of migrant domestic workers to pregnancy and maternity leave are enshrined in labour legislation. They are protected by the Sex Discrimination Ordinance and must receive notification procedures and, once eligible, fourteen weeks of paid maternity leave if they have served at least forty weeks in employment. Yet enforcement and awareness remain deeply inconsistent.

Many pregnant helpers who are unlawfully dismissed become uninsured, lose their visa status, and cannot access subsidised public hospital care – even though delivery costs without eligibility can exceed HK$90,000 (US$11,500). Charities have documented that the city’s shelters are increasingly accommodating expectant domestic workers who have nowhere else to go, cannot afford healthcare and face imminent deportation or joblessness.

Advocacy groups say that the deeper issue lies not with legislation but with a system where the live-in requirement, complex immigration rules and financial uncertainties place pregnant helpers in vulnerable positions. Even well-intentioned families often report not knowing how to manage maternity situations for live-in helpers and resort to informal “mutual termination” agreements rather than following statutory pathways.

For Daisy, returning home was not a simple option due to high airfare and social stigma linked to pregnancy out of wedlock. The absence of affordable maternity insurance, limited options for maternity leave outside employer homes and precarious visa status combine into a situation that sees pregnant domestic workers caught between legal rights and practical realities in Hong Kong.

Supporters of the helpers say that addressing the crisis will require mandatory employer education programmes, reform of live-in requirements, affordable maternity insurance schemes and more accessible shelter services. With domestic helpers making up a vital part of Hong Kong’s workforce, their wellbeing and rights are increasingly viewed as both a humanitarian concern and a matter of social-economic stability.

*Name has been changed to protect the individual’s identity.

China’s significant higher-education expansion has triggered measurable ripple effects at U.S. universities, a new study reveals.

Researchers found that as China lifted annual undergraduate enrolment from about one million in 1999 to 9.6 million by 2020, every additional 100 Chinese graduates led to approximately 3.6 Chinese graduate students enrolling in U.S. institutions.

The study further found that for every 100 Chinese master’s students in the U.S., American universities introduced around one new STEM master’s programme, concurrently raising the number of American and other international master’s students.

The authors described this as a “crowding in” effect, challenging the notion that Chinese students simply displace U.S.-domestic ones in postgraduate programmes.

Analysis also showed positive spill-overs beyond campuses: U.S. college towns hosting international students experienced increased job creation in non-university sectors, suggesting broader economic benefits from global student inflows.

The researchers leveraged detailed quota-based admissions data from China and visa records from U.S. institutions to identify causal links between China’s domestic education policy and the international flows of students.

These findings come amid growing political debate in the U.S. about foreign student presence, especially from China, in key science, technology, engineering and mathematics (STEM) fields.

Some lawmakers have argued that wealthy international students crowd out U.S. peers; the new evidence counters that view, indicating the expansion of Chinese talent may have enabled U.S. universities to expand programmes and intake rather than restrict opportunities.

While the paper has not yet undergone full peer review, its findings illuminate how interconnected global education systems have become, and how policy shifts in one country can reshape academic and economic landscapes abroad.

The results underscore that rather than a zero-sum contest for global talent, the flow of Chinese students into the U.S. may have catalysed growth in graduate-education capacity and supported local economic activity in university regions.

The Indiana Public Retirement System (INPRS) plans to fully divest approximately US$170 million of its holdings in Hong Kong by December, following a recent clarification of its 2023 legislative mandate to divest from Chinese-controlled entities.

The review comes two years after the state legislature passed Senate Enrolled Act 268, which prohibited investment in companies domiciled in or controlled by the People’s Republic of China.

INPRS has already exited fixed-income holdings tied to Hong Kong and is now working to update its performance benchmarks, as detailed in its board materials released ahead of a meeting Friday.

The benchmark adjustments will reflect that certain assets will have “no exposure” to Hong Kong investments.

The divestment effort builds on the system’s earlier achievement of eliminating its US$1.2 billion exposure to Chinese entities, completed ahead of schedule in mid-2024.

The law established progressive divestment targets: fifty per cent within three years of identifying a restricted investment, seventy-five per cent within four years, and one hundred per cent within five years.

INPRS exceeded the timeline by divesting from China nearly four years ahead of requirement, but had previously not treated holdings linked to Hong Kong under the law’s scope.

That oversight was addressed after the “recent clarification” referenced in the board packet.

Supporters of the legislation, including State Senator Chris Garten (R-Charlestown), point out that Hong Kong remains defined as an “inalienable part” of China under China’s Basic Law, and say the original intent was to cover Hong Kong assets.

Columnist Jacob Stewart raised concerns in September that the pension fund still held millions of dollars in Hong Kong investments despite the Chinese divestment law.

INPRS now says it will complete the remaining divestment by the end of December and has planned to reinvest in other markets in compliance with its strategic asset allocation.

The move signals the fund’s commitment to align with state policy on reducing exposure to China-linked jurisdictions, while managing index and performance benchmarks for affected portfolios.

A sense of relief pervaded this week’s 2025 Global Financial Leaders’ Investment Summit in Hong Kong, as a truce in the Sino-American trade war and a rebound in Chinese markets set a calmer tone.

Senior executives from major global firms met in the city to discuss trade, private markets and energy, gathering at the Rosewood hotel and even watching a robot demonstrate boxing at a welcome dinner.

Despite the upbeat atmosphere, the event underscored that the window of opportunity for global firms in Hong Kong may be changing.

Four years ago, when the summit was first held, the aim was to announce that Hong Kong was once again open for business after a period of pandemic isolation and political unrest.

Today, delegates no longer needed to tread lightly around China, but the question has evolved from “Can we be present?” to “How much business can we capture?”

In remarks and commentary during the summit, Chinese authorities reiterated their commitment to strengthening Hong Kong’s role as a financial centre, including through boosting offshore yuan liquidity.

The city’s benchmark Hang Seng Index posted one of the world’s best performances this year, with a gain of 28 per cent, while mainland China’s CSI 300 Index rose by nearly 20 per cent.

Many Western firms remain active in China: cross-border claims by U.S. banks on Chinese residents are near record highs.

Yet the nature of participation is evolving.

The lion’s share of initial public offerings in Hong Kong are now secondary listings of Chinese issuers already traded in New York or mainland exchanges.

These generate lower fees, and the domestic push has shifted more business to Chinese financial firms—one local securities house now sponsors nearly a third of new listings, up from 5 per cent a decade ago.

Challenges persist.

Hong Kong remains heavily dependent on mainland China’s economic fortunes.

The International Monetary Fund expects China’s gross domestic product growth to slow to around 4.2 per cent next year, down from 4.8 per cent this year.

The city’s property market remains weak and consumption sluggish, feeding questions about the depth of opportunity.

For now, Hong Kong is not fading—it is repositioning.

The city remains a gateway for global finance into the Chinese economy, but its role appears more limited than before.

To thrive, multinational banks and asset managers may need to look beyond Hong Kong and the mainland to capture new growth.

The message from this year’s summit appears clear: the era of unlimited access may be over, but a new form of engagement is underway.

Around one-fifth of the 4,500 modular units that were previously used as community isolation and treatment facilities in Hong Kong sustained damage during two strong typhoons earlier this year, the city’s Development Bureau has confirmed.

The so-called pandemic camps at the Tseung Kwan O fill bank — where construction waste is stored — were found to have dozens of modules with collapsed roofs and broken metal-panel walls.

In its response, the bureau said that while most of the affected units suffered damage to their metal panel walls, the structural steel frames remained intact.

It stated that those modules will undergo repairs, be properly protected, and reused on future public works projects.

A “minor portion” of units deemed unsuitable for reuse will be dismantled, with steel components separated and sent for recycling.

The bureau emphasised that the modular units had originally been procured in response to the pandemic and later shifted to standby status.

Of the units damaged, approximately 20 per cent were impacted by the storms given the location of the storage site and the exposure to high winds.

The authority noted that storage above the fill bank, where the modules were sited, left them vulnerable to typhoon-force gusts.

While the precise number of units removed from the reuse pool has not been publicly disclosed, the bureau confirmed that repairs will be prioritised to maintain Hong Kong’s capacity for redeployment of modular units in future infrastructure projects.

The move is aligned with wider adoption of modular integrated construction (MiC) and reuse of pandemic-era assets, forming part of the city’s drive toward more sustainable building practices.

Analysts note that Hong Kong’s increasingly severe typhoon seasons — with recent storms breaking long-held records — place growing emphasis on resilience of modular infrastructure storage, transport and siting.

The damaged modules highlight an emerging risk: that assets designed for rapid deployment during a crisis must also withstand extreme weather when stored or repurposed.

The disclosure comes amid public scrutiny of the modular-unit stockpile, including questions over the long-term plans for the isolation facilities once the pandemic emergency receded.

The bureau’s statement now gives a clearer picture of losses and the path forward: reuse when feasible, recycling where necessary, and repair works beginning promptly to support future projects.

For now, the Hong Kong government’s approach underscores its commitment to repurpose pandemic-era infrastructure, limit waste, and safeguard value from previously deployed units, even as climate-driven weather events increasingly test the resilience of such assets.

More than two hundred early-career scientists from over twenty countries and regions convened in Hong Kong on Wednesday for the opening of the 2025 Hong Kong Laureate Forum 2025, a four-day science and technology exchange event designed to fast-track the city’s ambition to become a global innovation and technology hub.

At the ceremony, Chan Kwok‑ki, Chief Secretary for Administration of the Hong Kong Special Administrative Region, announced a recently launched HK$3 billion (approximately US$385.8 million) Frontier Technology Research Support Scheme to build advanced facilities and undertake basic research in breakthrough science and technology fields.

The forum brings together laureates, distinguished scholars and young researchers under the theme “Meeting of Inspirational Minds”.

Participants will engage in keynote lectures, breakout sessions and poster presentations spanning astronomy, life science and medicine, and mathematical sciences.

The event is the second edition of the forum, signalling Hong Kong’s growing profile as a cross-discipline science capital.

Chan underscored the government's role in deploying a “raft of policies” to attract top talent and equip local institutions with world-class infrastructure, positioning the forward-looking funding scheme as a key plank in that strategy.

The new scheme, administered by the city’s Innovation & Technology Commission, invites applications by 25 November 2025 for funding support of between HK$100 million and HK$300 million per project, matched by participating institutions, and expects to announce results in the first half of 2026.

Tong Wai‑cheung, Chairman of the forum, said the gathering offers emerging scientists an environment to “cultivate curiosity, ignite passion for science and technology, and empower … emerging scientific talent”.

He described Hong Kong’s role as an ideal setting for trans-disciplinary engagement and global networking.

The forum will run from 5 to 8 November and is expected to enhance the city’s scientific ecosystem by linking young researchers with established laureates, research institutes and industry partners.

The combination of a high-level science forum and a major public investment in frontier technology underlines the city’s commitment to shaping its future as an international innovation node in which talent, capital and infrastructure converge.

A Hong Kong man aged eighty-two was found safe on Kowloon Peak late on Tuesday evening, more than a full day after his family reported him missing.

He was located at approximately ten p.m. in the Pak Fa Lam area of the mountain and taken to United Christian Hospital in Kwun Tong for treatment of scratches on his limbs.

The Fire Services Department had deployed a mountain rescue team, a search dog and a drone at around 11:30 a.m. on Tuesday after the man’s family reported his disappearance.

He had last been seen ascending the mountain on Monday morning before losing contact.

Police said no suspicious circumstances were detected after his recovery, confirming that he had wandered off the trail and sustained minor injuries before being located.

The rescue operation underscores the hazards posed by Kowloon Peak, known also as Fei Ngo Shan, which rises to 602 metres and lies in Hong Kong’s Wong Tai Sin and Sai-Kung districts.

Authorities reminded hikers to remain on designated paths and to inform mountain rescue services if delays or loss of contact occur, particularly after dunno- or multi-day outings where fatigue and terrain risks heighten danger.

With the elderly man now in hospital care and improving, the search and rescue teams stood down shortly after his retrieval and preliminary treatment began.

China’s Premier Li Qiang affirmed in Shanghai that the country will further open its vast consumer market to international business and deepen its commitment to free trade, speaking at the opening of the China International Import Expo (CIIE).

He addressed about one thousand government officials, business leaders and foreign merchants, stating that Beijing remains firmly committed to globalisation and to resolving cross-border trade challenges through cooperation.

At a time when the global economy is decelerating and trade tensions are intensifying, Premier Li said China will adhere to equal and mutually beneficial cooperation, embrace free markets and free trade, and resolve cross-border contradictions through joint development.

He said China is ready to work with all parties to build an open, inclusive development environment, to enhance trade and investment liberalisation and facilitation, and to stabilise global industrial and supply chains.

Li projected that over the next five years China’s economic scale could exceed 170 trillion yuan, approximately 23.9 trillion US dollars, noting that the nation will advance high-level opening-up to the outside world.

He emphasised that expanding domestic demand, especially consumption, remains a core objective as China taps into the potential of its 1.4 billion-plus population.

His remarks follow a recent trade truce between China and the United States, and come amid heightened global concern about protectionism, tariff escalation and decoupling.

For foreign firms attending the expo, the message is clear: China intends to remain open for business, open for investment and open for partnerships.

Li also pointed out that China will broaden access in sectors such as telecommunications, education, culture and healthcare, and will provide equal opportunities in resource access, licensing and government procurement.

He stressed that China intends not simply to be a destination for exports but to become an investment and entrepreneurship hub for global enterprises.

With more than 4,100 overseas companies participating in the expo and the largest single exhibition area again allocated to United States-based firms, the event reinforces China’s ambition to strengthen its role in global trade and connect more deeply with international markets.

In summarising China’s strategic orientation, Premier Li asserted that when the world economy is slowing and disputes are increasing, the country must more firmly uphold openness and cooperation.

He concluded by adding that China’s market, talent and innovation capabilities will provide the foundation for global business growth and mutual benefit.

Shares of China’s electric-vehicle maker Seres Group, a partner of Huawei Technologies, fell about 2 per cent in their Hong Kong Stock Exchange debut on Wednesday, even though the company raised around US$1.84 billion through its initial public offering.

The stock, priced at HK$131.50, opened at HK$128.90 as market weakness weighed on investor enthusiasm.

Seres sold 108.6 million H-shares in the offering, increasing the share count during book-building due to strong demand ahead of its listing, according to its filings.

The retail tranche was nearly 133 times oversubscribed, and the institutional segment around nine times.

The listing marks one of the largest mainland delegations in Hong Kong this year and underscores the renewed appeal of the city’s capital markets for Chinese firms.

The funds raised will support Seres’ global expansion, charging-infrastructure growth and research and development in intelligent automotive technologies.

While the debut performance fell short of a jump, analysts say it reflects both broader market softness and investor caution around valuation levels in the competitive new-energy vehicle segment.

The listing also carries strategic significance: Seres is already listed on the Shanghai exchange and will become one of the first premier Chinese EV makers to execute an A-share and H-share dual listing, further enhancing its cross-border capital-market presence.

The opening drop highlights the challenge of translating strong subscription metrics into secondary trading gains, particularly in volatile investor climates.

Although the near-term price movement was modestly negative, Seres’ deeper significance as a capital-markets milestone and indicator of Hong Kong’s IPO revival remains prominent among industry watchers.

A substantial number of members of Hong Kong’s Legislative Council announced their retirement ahead of the forthcoming December election—a move that has sparked both speculation and commentary.

Among them is the long-serving President, Andrew Leung Kwan-yuen, who after nine years at the helm, cited age and family reasons for stepping down.

Leung’s departure comes as over a dozen other incumbent lawmakers—many over the age of 60, though some younger—also opted not to seek re-election.

Some attributed their exit to “giving younger candidates a chance” or navigating generational turnover.

Others say the pace and scale of departures suggest more than routine turnover.

Influential speculation has emerged that Beijing may be steering a generational reset of the legislature, possibly through an informal age-ceiling or preference for new appointees.

The Hong Kong and Macau Affairs Office denied the existence of any “blessed list” of approved candidates.

Leung himself, in a rare show of irritation, asked rhetorically: “If there were 90 legislators and more than 80 were re-elected, what would you say then?”

Observers say the wave of change reflects multiple factors.

One is advancing age: several members tested the threshold of 70 and cited retirement as personal choice.

Another is institutional cycle: the 2025 election follows the sweeping reforms to Hong Kong’s electoral system, and some incumbents may prefer exit to uncertain re-nomination.

Simultaneously, pool-wide renewal supports the city’s leadership narrative of generational advancement under the “one country, two systems” framework.

While departing legislators and officials emphasise voluntary retirement, the broader pattern has unsettled some political watchers.

The absence of clear invitations for farewell motions or traditional send-offs—such as a banquet for members and chief executive John Lee Ka-chiu—has added to perceptions of managed transition.

In this light, the turnover may signal more than mere personal decisions: it could mark a calibrated reshaping of Hong Kong’s legislative body ahead of a new electoral era.

Ultimately, the question facing Hong Kong is how this turnover will affect institutional memory, legislative stability and representation.

As the city seeks to position itself as a resilient and adaptive global finance hub, the generational refresh in its legislature may reflect a broader leadership strategy to align governance with evolving priorities.

French prosecutors have launched a formal investigation into Shein after France’s consumer protection agency, the DGCCRF, discovered listings on the retailer’s website for sex dolls appearing to depict minors.

The scandal erupted just days before Shein was set to open its first physical store in Paris at the historic BHV Marais department store.

According to official statements, the DGCCRF reported that the listings were of a nature 'leaving little doubt as to their child-pornographic character.' France’s finance minister, Roland Lescure, called the products 'horrible objects' and warned that if such conduct occurs again, Shein could face a nationwide ban.

The case was immediately referred to prosecutors for criminal review.

Shein responded by removing all sex-doll listings, banning such items globally, and temporarily suspending its entire adult-products category in France.

The company said the listings originated from third-party sellers and vowed to strengthen content moderation to prevent similar incidents.

Donald Tang, Shein’s executive chairman, took 'personal responsibility' and promised swift action against those responsible.

The controversy sparked widespread public outrage and protests in Paris.

Several brands withdrew their products from BHV Marais, and employees staged demonstrations outside the department store, denouncing Shein’s involvement.

Despite the backlash, SGM—the operator of BHV Marais—has stated that the store opening will proceed as planned and may be followed by additional Shein outlets across France.

French prosecutors also announced broader investigations into other e-commerce platforms, including Temu, AliExpress, and Wish, over possible distribution of sexualized or violent content involving minors.

The offence of distributing such material in France can carry up to five years in prison and fines reaching seventy-five thousand euros.

The case comes as Shein faces mounting scrutiny in Europe over deceptive advertising and sustainability concerns.

Earlier this year, the company was fined forty million euros in France for misleading commercial practices.

Now, the discovery of child-like sex dolls adds new urgency to debates on digital accountability and the ethical obligations of online marketplaces.

For regulators and consumers alike, the episode underscores a larger question: how to ensure that global e-commerce giants take genuine responsibility for what appears on their platforms, beyond disclaimers about third-party vendors.

Whether Shein’s reforms will satisfy French authorities remains uncertain, but the scandal has already shaken the company’s image on the eve of its Paris debut.

Kim Kardashian has revealed that she relied on ChatGPT for legal advice while studying for her bar exams — and claims the artificial intelligence chatbot is partly to blame for her repeated failures.

In a lie-detector interview for Vanity Fair, the forty-five-year-old entrepreneur and aspiring lawyer admitted she had turned to the AI tool when preparing for her legal qualification tests, saying she would photograph questions and send them to ChatGPT for answers.

Kardashian said the responses were often wrong and that she grew frustrated when they caused her to fail.

'It made me fail tests all the time,' she said, explaining that she would 'get mad and yell at it,' only for the chatbot to reply, 'This is just teaching you to trust your own instincts.

You knew the answer all along.' The exchange drew laughter from interviewer Teyana Taylor, who suggested that Kardashian’s relationship with the AI seemed like that of a 'frenemy.' Kardashian agreed: 'I trust it, but it talks back to me like a therapist and tells me to believe in myself.'

The polygraph test confirmed she was truthful about using ChatGPT, adding a touch of irony to her confession.

Kardashian’s law-school journey, which began around 2019, has stretched to six years rather than the standard four.

After passing California’s preliminary 'baby bar' exam in 2021, she has completed her studies and now awaits results from her final bar examination.

Her light-hearted yet revealing comments underline a growing issue in professional education — the temptation to rely on AI tools for learning and decision-making.

ChatGPT, while widely used for drafting and tutoring, is not designed for certified legal study and can easily provide inaccurate or incomplete answers.

For Kardashian, who has championed criminal-justice reform and studied to follow in her late father Robert Kardashian’s legal footsteps, the incident highlights both the promise and peril of integrating AI into human judgment.

While she expressed continued fascination with the technology, her story serves as a cautionary tale about over-trusting machine intelligence in high-stakes testing environments.

Whether she ultimately passes or fails, Kardashian’s remarks have already reignited the debate about the limits of artificial intelligence in education — and about the wisdom of letting an algorithm become one’s legal study partner.

After GPT-5 received harsh criticism and widespread disappointment, OpenAI CEO Sam Altman has once again managed to capture global attention.

In a brief and cryptic post on X, Altman declared that the company’s next model, GPT-6, will be called 'GPT-6-7.' The announcement instantly went viral, sparking confusion, humor, and speculation across the internet.

GPT-5, one of the most anticipated artificial intelligence models in recent years, was launched in August after months of hype led by Altman himself, who claimed it would be 'smarter than anything we’ve ever seen.' But a few months later, the reality proved underwhelming.

Instead of the promised revolution, many users complained that the model felt slower, colder, and less intuitive than before.

Facing heavy criticism online, OpenAI was even forced to partially restore GPT-4’s functionality weeks after the launch.

Now, with the controversy seemingly behind him, Altman has reignited it.

In his short post on X, he wrote: 'GPT-6 will be renamed GPT-6-7.

You’re welcome.'

For those unfamiliar with Gen Alpha slang — referring to those born between 2011 and 2024 — '6-7' might sound like an inside joke among engineers.

But according to Dictionary.com, which recently named '6-7' the 2025 Word of the Year, the phrase has become a viral expression among young people.

It roughly means 'so-so' or 'maybe, maybe not,' often accompanied by a hand gesture mimicking the act of juggling between two choices.

So is Altman serious about calling his next model by this bizarre viral name, or is it another linguistic stunt meant to grab attention?

No one knows.

Yet in a world where every OpenAI post is examined under a microscope, even a joke can turn into global headlines.

Some suggest Altman may simply be enjoying the hype, while others think the post could hint that OpenAI is already working on GPT-6 — a next-generation model meant to fix GPT-5’s shortcomings.

Either way, the choice of name might not be accidental.

The term '6-7' also resonates with younger audiences who spend their days on TikTok, creating memes and slang that adults often fail to understand.

The strategy might reflect OpenAI’s broader attempt to connect with younger users, who are increasingly abandoning traditional search engines like Google and Bing in favor of AI-powered tools such as ChatGPT.

For this generation, long articles and website browsing have given way to concise, instant answers.

In that context, Altman’s adoption of the '6-7' meme may be a clever wink to the next generation — a way to make AI feel less intimidating and more fun, evolving from a scientific tool into a cultural phenomenon that speaks the language of the internet.

Ultimately, OpenAI remains a tech company that needs to grow its audience and build emotional connection with users.

Understanding how to communicate with them — and how to make them fall in love with the brand — is part of that mission.

Whether Altman truly names the next model 'GPT-6-7' or not, one thing is clear: he has once again made the world talk about ChatGPT.

The University of Hong Kong (HKU) is advancing plans to establish a campus in Saudi Arabia, according to sources who confirm the institution is evaluating sites in or around Riyadh.

The move forms part of the university’s broader internationalisation strategy, which also includes the purchase of a property for a campus in Spain.

Insiders indicate that the project remains in early stages and that no definitive timeline has yet been set.

One person said the university “sees an opportunity in Saudi Arabia and has a plan to open a campus in Riyadh.” Another noted that HKU once considered the Diriyah area on Riyadh’s outskirts but later abandoned that option as it refined its expansion approach.

The Saudi initiative follows HKU Business School’s August 2025 signing of a memorandum of understanding with Argaam Investment Company in Saudi Arabia, aimed at delivering executive education in the gulf region.

This cooperation is seen as an intermediate step and reflects the university’s growing institutional presence in the Kingdom.

Establishing a full branch campus would align with Saudi Arabia’s ongoing vision to attract foreign institutions under its higher-education liberalisation drives and aligns with HKU’s desire to strengthen its global footprint.

The university has long emphasised its global alliances, noting it partners with over 380 institutions in 46 countries to support international mobility and collaboration.

HKU has not yet officially announced the Saudi campus plan, and neither the site nor proposed disciplines have been publicised.

The dual push into Europe and the Middle East signals the university’s ambition to reposition itself as a global centre for higher education, research and cross-regional talent flows.

An immersive crossover of installation art and contemporary dance titled “No Time To Die: An Inert Liquid Assembly” will premiere in Hong Kong at the Freespace Dance 2025 festival from 20-23 and 27-30 November 2025. The work is a collaboration between visual artist Nadim Abbas and choreographer‐performer Chan Wai‑lok, hosted in The Room at the West Kowloon Cultural District and produced by cross-disciplinary platform No Discipline Limited.

Set in a hybrid space described as “part domestic interior, part logistics warehouse”, the production invites audiences to traverse installation environments by day and attend a one-hour fifteen-minute performance at night.

Through layered visuals of cardboard models, packaging material and robotic grabbers, the piece reflects on modern life’s saturation of data, the fluidity of economy, and a sense of “no-thing to grasp”.

Abbas and Chan draw on the Cantonese phrase “I have time to die but no time to get sick” to frame a socioeconomic mood of extracted attention and deferred value.

According to the production notes, the installation exposes a scenario in which the work done is zero when “there is no-thing to displace”, and the economy is processed through attention rather than material ownership.

The choreography embraces stillness and minimal movement, described metaphorically as “quiet quitting” and the “inert liquid assembly” of information and objects around absent products.

The project emerges under this year’s festival theme, “Speculative Futures: Asia-Pacific Perspectives,” which positions the work alongside interdisciplinary dialogues from the region.

The producers emphasise audience choice of engagement mode: visitors may experience the space at their own pace during open exhibition slots or join the framed performance evening.

Ticketing details indicate performance tickets start at HK$300, while exhibition access is free.

Concession rates and group-purchase discounts are available.

The timing and format of the event encourage reflection on how urban dwellers navigate a high-velocity, information-dense world when movement becomes logistics and stillness itself a form of resistance.

The Hong Kong Monetary Authority (HKMA) presented its next-generation Fintech 2030 strategy today, unveiling over forty initiatives under the new “DART” framework: Data infrastructure, Artificial intelligence (AI), Resilience and Tokenisation.

The plan was announced on the opening day of the city’s FinTech Week 2025 event.

Under the “Data” pillar, the regulator pledged to build a robust and future-ready infrastructure for secure data sharing, underpinning innovation in personalised financial services, trade-finance expansion and cross-border payments.

The “Artificial intelligence” component commits to a holistic model-for-finance approach that will develop shared AI infrastructure in collaboration with banks, fintech firms and regulators.

On “Resilience”, the HKMA says it will launch a fintech-specific cybersecurity certification framework, improve early-warning systems through real-time analytics and prepare the industry for quantum-safe cryptography.

The “Tokenisation” pillar includes plans to regularise the issuance of tokenised government bonds, explore tokenised deposits and engage with wholesale central-bank digital-currency (wCBDC) infrastructure through its “Project Ensemble” initiative.

The strategy builds on the regulator’s prior Fintech 2025 blueprint and is tailored to deepening Hong Kong’s position as a bridge between mainland China and global capital markets.

The HKMA emphasises that innovation presents both opportunity and risk—stressing that slower adoption may pose a greater threat than standing still.

FinTech Week 2025, co-hosted by the HKMA and InvestHK, sees the regulator engaging industry in the next phase of digital-finance transformation.

The chief executive of the HKMA described the initiative as driving “embedded technology powered by trust, transparency and intelligence”.

With global competition intensifying among finance hubs, this strategic sheet gives financial institutions a clear roadmap for the next decade of innovation, while signalling that Hong Kong is prioritising cross-border connectivity, AI-enabled services and tokenised finance as core pillars of its international financial-centre ambition.

China’s Vice Premier He Lifeng addressed the Global Financial Leaders’ Investment Summit in Hong Kong on Tuesday, asserting that the city must bolster economic and financial cooperation with the mainland to secure its future as a global financial centre.

Speaking via video link, He declared that “Hong Kong is destined for significant historical development opportunities.

Its future is bright.”

He said that by aligning more closely with China’s development plans and incentivising deeper financial integration, Hong Kong could more effectively reclaim its standing in world capital markets.

“I hope Hong Kong can grasp the opportunities and proactively deepen its connection with the country’s development plans,” he added.

The comments come as Hong Kong’s capital markets display notable strength in 2025. According to Dealogic data, the city welcomed 80 initial public offerings in the first ten months of the year, raising US$26.8 billion—nearly triple the comparable period in 2024—and overtaking both New York and Nasdaq (excluding special purpose acquisition companies) as the global top venue for new listings.

Hong Kong’s rebound follows years of reputational challenge stemming from extended COVID-19 border closures and the introduction of national security legislation in 2020. Chief Executive John Lee emphasised at the summit that the resurgence of listings and investor activity signalled a stronger foundation for the city’s financial system.

He Lifeng’s address emphasised three key priorities for Hong Kong: deepening financial reform and innovation, expanding opening-up and cooperation, and integrating with the nation’s wider economic strategy.

He encouraged the city to leverage its status as a bridge between Chinese capital markets and global investors and to embrace the advantages of the Greater Bay Area and other national initiatives.

As the mainland and Hong Kong enhance capital-market linkages, regulatory coordination and cross-border financing mechanisms, the vice-premier’s rhetoric signals Beijing’s intent to enlist Hong Kong more fully in its broader growth and global-finance agenda.

With global investor attention in the city renewed, the prospects for Hong Kong’s next chapter are shaped by both domestic reform and international confidence.

Guangzhou-based autonomous-driving company WeRide Inc is preparing to launch a dual primary listing in Hong Kong, with the goal of raising approximately HK$2.39 billion (about US$308 million).

The firm plans to issue roughly 88 million new Class A ordinary shares, with an indicative price around HK$27.10 per share and a prior maximum of HK$35 per share, according to people familiar with the matter.

Having listed on the Nasdaq in October 2024, WeRide recently disclosed in a United States Securities and Exchange Commission filing that the China Securities Regulatory Commission had issued a notice of filing supporting a proposed global offering and dual primary Hong Kong listing.

The company has retained Morgan Stanley and China International Capital Corp as lead advisers for the transaction.

The funding round comes amid deteriorating relations between the United States and China and reflects a broader trend of U.S.-listed Chinese firms seeking alternative capital sources in Hong Kong.

WeRide’s current U.S. market valuation is roughly US$3 billion and its move into the Hong Kong market is seen as a strategic bid to diversify its investor base and mitigate regulatory risk.

Despite revenue growth — WeRide reported a second-quarter revenue of approximately RMB 127.2 million (about US$17.8 million), up around 60.8% year-on-year — the company remains unprofitable, with a net loss of RMB 406.4 million in the quarter.

The capital raise aims to support continued global deployment of its Level 4 autonomous-driving technology, including robotaxi and robobus services, and to fund further research and development.

If successful, the listing will position WeRide as one of the first major Chinese robotaxi players to tap the Hong Kong market via a dual primary structure.

The ultimate size, pricing and timing of the offering remain subject to regulatory approvals and market conditions.

Hong Kong’s large-scale genome sequencing effort has recruited more than forty of five thousand participants within four years since its launch, exceeding its original target for the scheme.

The Hong Kong Genome Institute (HKGI) announced that the Hong Kong Genome Project (HKGP) has enrolled over 52,000 individuals from more than 37,000 families as of mid-October 2025, surpassing its initial aim of 40,000 to 50,000 people from around 20,000 families by this year.

Launched in 2021, the HKGP focuses on participants with undiagnosed diseases, hereditary cancers or conditions potentially linked to genomics, alongside their family members.

Around three-quarters of those enrolled report that the sequencing findings led to changes in their treatment, according to chief medical and scientific officer Dr Brian Chung Hon-yin.

Eligibility for the project requires referral by a clinician at a Partnering Centre or designated referral network of the Hong Kong Hospital Authority.

Once accepted, participants undergo whole genome sequencing (WGS) and receive results coupled with genetic counselling.

The HKGP’s stated objectives include delivering more precise diagnoses, tailoring treatment plans, nurturing genomic-medicine talent and building a genomic database of the local Chinese population.

As the project moves beyond its initial phase, HKGI officials say they plan to expand the scheme further—both in recruitment and application—to help a broader patient base uncover the genetic causes of their conditions.

HKGP’s success in hitting and exceeding recruitment targets is seen as an important signal of genomic-medicine integration within Hong Kong’s public-health system.

The expansion comes amidst growing global momentum for large-scale genome sequencing initiatives, and positions Hong Kong to contribute more actively to population-specific sequencing data, precision medicine research and local clinical innovation.