Hong Kong Business

Tenement buildings in Kowloon sold for $260m
It was sold to Apex Intelligence Limited.
Cathay opens experiential retail space in Cityplaza shopping mall
Customers can scan products through QR code and use flexible modes of payment.
Retail sales value edges up by 3.9% YoY in October
The total value stood at $31.9b.
Hong Kong retail market momentum depends on full border reopening
Retail sales for the first nine months slightly dipped by 1.3% YoY.
Total loans, advances down 1.2% in October: central bank
Loans for use in the market were down by 1%.
Foreign currency assets down by $25.5b in October: HKMA
The decrease was attributed to the sale of US$ under currency board arrangements.
Customs ratifies reciprocal trade facilitation for 13 markets
The government signed mutual recognition arrangement documents.
Bank of East Asia offers preferential interest rate to green mortgage customers’ time deposits
It follows in the footsteps of BEA’s Green Mortgage Plan.
Gov’t deficit rises to $275.75b 
In August, the deficit was at $183b.
Approved mortgage loans drop 4.7% MoM in October
The drop was likely due to the decrease in applications during the same month.
Rising interest rates, weakening economy dampen residential property demand
Residential sales were down 18.8% MoM in October, according to the Land Registry.
DBS Asia Capital names Lindsay Chu as new CEO
Prior to joining DBS, has worked senior roles in HSBC, Nomura, and J.P. Morgan.
HK, Guangdong launch cooperation projects on IP 
The projects cover areas such as cross-boundary IP protection.
Exports value drop 10.4% YoY to $374.77b in October
The deterioration of the external economic environment contributed to the fall.
Grade-A Office rents down 1.8% MoM in October
The downward rental trend will continue for the rest of 2022.

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Exclusives

Exclusives

Information Technology Managing conversations to increase conversions
Enterprises that used chat management platform, imBee, saw a 25% increase in sales. 
Commercial Property Where to invest your millions in real estate
Realtors cited two property types that can offer higher upside potential in return.
Commercial Property Property market ends downcycle 
Real estate expert, Cathie Chung, said that the market will have a reset by 2023.
Residential Property No spacious homes for Hong Kong’s poor anytime soon 
Home size adjustment will be unlikely in the city after the waiting time for public housing hit a record-high.
Aviation How key aviation players are pushing the industry for takeoff 
The HKIA told Hong Kong Business that it has projects like SKYCITY to support the aviation industry’s recovery.
Information Technology How can a metaverse gaming platform drive foot traffic to businesses in the real world
AiR World founder Gabriel Kwong said their users visit their partner malls which serve as a gateway to the metaverse at least 3 to 5 times a month.

Top News

Tenement buildings in Kowloon sold for $260m
It was sold to Apex Intelligence Limited.
Cathay opens experiential retail space in Cityplaza shopping mall
Customers can scan products through QR code and use flexible modes of payment.
Retail sales value edges up by 3.9% YoY in October
The total value stood at $31.9b.
Hong Kong retail market momentum depends on full border reopening
Retail sales for the first nine months slightly dipped by 1.3% YoY.
Total loans, advances down 1.2% in October: central bank
Loans for use in the market were down by 1%.
Foreign currency assets down by $25.5b in October: HKMA
The decrease was attributed to the sale of US$ under currency board arrangements.
Customs ratifies reciprocal trade facilitation for 13 markets
The government signed mutual recognition arrangement documents.
Bank of East Asia offers preferential interest rate to green mortgage customers’ time deposits
It follows in the footsteps of BEA’s Green Mortgage Plan.
Gov’t deficit rises to $275.75b 
In August, the deficit was at $183b.
Approved mortgage loans drop 4.7% MoM in October
The drop was likely due to the decrease in applications during the same month.
Rising interest rates, weakening economy dampen residential property demand
Residential sales were down 18.8% MoM in October, according to the Land Registry.
DBS Asia Capital names Lindsay Chu as new CEO
Prior to joining DBS, has worked senior roles in HSBC, Nomura, and J.P. Morgan.
HK, Guangdong launch cooperation projects on IP 
The projects cover areas such as cross-boundary IP protection.
Exports value drop 10.4% YoY to $374.77b in October
The deterioration of the external economic environment contributed to the fall.
Grade-A Office rents down 1.8% MoM in October
The downward rental trend will continue for the rest of 2022.

Exclusives

Information Technology Managing conversations to increase conversions
Enterprises that used chat management platform, imBee, saw a 25% increase in sales. 
Commercial Property Where to invest your millions in real estate
Realtors cited two property types that can offer higher upside potential in return.
Commercial Property Property market ends downcycle 
Real estate expert, Cathie Chung, said that the market will have a reset by 2023.
Residential Property No spacious homes for Hong Kong’s poor anytime soon 
Home size adjustment will be unlikely in the city after the waiting time for public housing hit a record-high.
Aviation How key aviation players are pushing the industry for takeoff 
The HKIA told Hong Kong Business that it has projects like SKYCITY to support the aviation industry’s recovery.
Information Technology How can a metaverse gaming platform drive foot traffic to businesses in the real world
AiR World founder Gabriel Kwong said their users visit their partner malls which serve as a gateway to the metaverse at least 3 to 5 times a month.

Join the Hong Kong Business community