Hong Kong Business

Gov’t to prosecute building owners ignoring fire safety orders
Approximately 9,000 buildings currently stand with expired directions. 
HK approves 15 building plans in March 
Four were approved on Hong Kong Island, two in Kowloon, and nine in the New Territories.
75% of HK consumers shop on social media: report
Features such as payment methods, personalisation, and payment security are also crucial for attracting customers.
Disappointing 1Q'24 dampens Prudential's outlook: Jefferies
Jefferies reduced its price target by 22%.
Govt launches Smart Site Safety System Labelling Scheme for site workers
The scheme seeks to ensure a safe work environment for site workers.
Unemployment rate stands at 3%
There were 113,700 unemployed people from February and April.
Cathay Pacific's passenger volume rise 26.1% YoY in April
The airline carried 1.74 million passengers.
Acquiring AI skills could boost salary up to 28%: Study
IT workers are seen to benefit the most from this. 
DDoS attacks in Hong Kong see drop after 3Q24 surge
Hong Kong accounts for 6% of attacks in APAC.
Govt OKs recommendations for ecological mitigation measures
The approval requires CEDD to follow certain conditions.
Hong Kong and Peru finalise FTA, signing planned for this year
The agreement will cover trade in goods, services, and investments.
Service exports drive HK's 2.7% GDP growth in 1Q24
Exports of services grew 8.4% YoY.
HKMA and PBoC extend e-CNY pilot to Hong Kong residents
E-CNY wallet users can top up their wallets through 17 partner banks.
PwC releases report on eHKD implementation for low balance retail investors

It explores the potential impact of a hypothetical digital currency, e-HKD, on financial transactions. 

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Exclusives

Exclusives

Niche crisis pushes Hong Kong towards green burials
Companies may offer boat trips for scattering ashes as interest in green burials rises.
Professional Services/Legal New arrangement eases IP suits between Mainland and Hong Kong
Firms in Hong Kong can now act against Mainland infringers without dual proceedings.
Retail Source Green’s bespoke and off-the-shelf solutions propel firms away from plastic packaging
F&B firms can source packaging made from wheat bran, bagasse, and areca palm.
Food & Beverage Why avocados are now a permanent part of Shake Shack Hong Kong's menu
The brand said limited-time-only (LTO) delights and new menu launches help keep consumer attention.
Markets & Investing Hong Kong’s Hottest Startups of 2024
Fintech and AI startups dominated the list.
Markets & Investing Hong Kong sets higher investment threshold for residency
Whilst permanent residency in Hong Kong now requires a minimum outlay of $30m (US$3.83m), the range of permissible investments has been expanded.
Markets & Investing Days of excess are over, investors warn founders
Deal activity in Asia Pacific fell 26.3% YoY in 2023.

Top News

Gov’t to prosecute building owners ignoring fire safety orders
Approximately 9,000 buildings currently stand with expired directions. 
HK approves 15 building plans in March 
Four were approved on Hong Kong Island, two in Kowloon, and nine in the New Territories.
75% of HK consumers shop on social media: report
Features such as payment methods, personalisation, and payment security are also crucial for attracting customers.
Disappointing 1Q'24 dampens Prudential's outlook: Jefferies
Jefferies reduced its price target by 22%.
Govt launches Smart Site Safety System Labelling Scheme for site workers
The scheme seeks to ensure a safe work environment for site workers.
Unemployment rate stands at 3%
There were 113,700 unemployed people from February and April.
Cathay Pacific's passenger volume rise 26.1% YoY in April
The airline carried 1.74 million passengers.
Acquiring AI skills could boost salary up to 28%: Study
IT workers are seen to benefit the most from this. 
DDoS attacks in Hong Kong see drop after 3Q24 surge
Hong Kong accounts for 6% of attacks in APAC.
Govt OKs recommendations for ecological mitigation measures
The approval requires CEDD to follow certain conditions.
Hong Kong and Peru finalise FTA, signing planned for this year
The agreement will cover trade in goods, services, and investments.
Service exports drive HK's 2.7% GDP growth in 1Q24
Exports of services grew 8.4% YoY.
HKMA and PBoC extend e-CNY pilot to Hong Kong residents
E-CNY wallet users can top up their wallets through 17 partner banks.
PwC releases report on eHKD implementation for low balance retail investors

It explores the potential impact of a hypothetical digital currency, e-HKD, on financial transactions. 

Exclusives

Niche crisis pushes Hong Kong towards green burials
Companies may offer boat trips for scattering ashes as interest in green burials rises.
Professional Services/Legal New arrangement eases IP suits between Mainland and Hong Kong
Firms in Hong Kong can now act against Mainland infringers without dual proceedings.
Retail Source Green’s bespoke and off-the-shelf solutions propel firms away from plastic packaging
F&B firms can source packaging made from wheat bran, bagasse, and areca palm.
Food & Beverage Why avocados are now a permanent part of Shake Shack Hong Kong's menu
The brand said limited-time-only (LTO) delights and new menu launches help keep consumer attention.
Markets & Investing Hong Kong’s Hottest Startups of 2024
Fintech and AI startups dominated the list.
Markets & Investing Hong Kong sets higher investment threshold for residency
Whilst permanent residency in Hong Kong now requires a minimum outlay of $30m (US$3.83m), the range of permissible investments has been expanded.
Markets & Investing Days of excess are over, investors warn founders
Deal activity in Asia Pacific fell 26.3% YoY in 2023.

Join the Hong Kong Business community