Hong Kong
Mortgage loan approvals fall 2.1% in January
The number of mortgage applications increased 3.3%.
Hong Kong to raise capital for infra expansion
Capital works expenditure will increase to about $120b annually from the previously estimated $90b.
Gov't introduces one-off tax cut for 2024/25 tax year
A 100% reduction in profits tax, salaries tax, and tax under personal assessment has been proposed.
Govt adjusts stamp duty rates on property transactions
For properties valued up to $4m, buyers will pay a nominal duty of $100.
Hong Kong professionals turn to contracting as career goals shift
83% of professionals in Hong Kong see contracting as an industry with strong career growth opportunities.
Four in five Hong Kong entrepreneurs hold multiple residencies: report
HSBC said Hong Kong ranked second only to New York in terms of ultra-high-net-worth residents.
Hang Seng Bank executes pilot trades under RMB Trade Financing Liquidity Facility
It is one of the first banks to participate in the facility.
Hong Kong to review listing rules and virtual asset licensing
It will also explore enhancing measures for the issuance and transaction of digital bonds.
Hang Seng Bank welcomes HK budget initiatives
Meanwhile, HSBC’s CIO expects AI to benefit from the announced plans.
Chinese fast-food chains eye Hong Kong listing
They are using the city as a testbed for further expansion overseas.
Sino Land profit drops 30% to $2.2m
Despite the decrease, the company maintained its interim dividend at 15 cents per share.
Stamp duty cut to boost demand in Hong Kong’s lower-end housing
For a $4m property, buyers will now pay $60,000 less in taxes, which could help stimulate demand in the lower-end housing market.
Transparency needed to boost confidence in Northern Metropolis: analysts
An analyst also pointed out that developers are hesitant due to unclear government policies.
Shenzhen tourists spur Hong Kong retail demand
A more lenient entry policy is benefiting tourism-related sectors.
HKPC, HKTDC back Budget’s push for innovation, SME growth
Both organisations reaffirmed their commitment to working closely with the government.
Top 50 list of Hong Kong billionaires' wealth climb
The minimum net worth to make the list this year rose to $11b from $8b.
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