Economy

It’s time to end the HK$ peg

The peg is doing more harm than good and many believe it’s time for it to go.

It’s time to end the HK$ peg

The peg is doing more harm than good and many believe it’s time for it to go.

Revisions in budget proposals will turn surplus to deficit of $12bn

Revised budget proposals of giving $6,000 cash handouts and 75% salary tax rebates would mean a $40 billion stimulus package to consumption and...

Distressed Asian debt hard to find

The great credit crunch of 2009 has passed and unfortunately for distressed debt traders, there is little in the way of bad debt to be traded in Asia...

Financial secretary says revised budget has people's support

Financial Secretary John Tsang says he believes the citizens support his revised Budget measures.

Govt seeks approval to submit revised interim funding motion

The government will submit a revised motion seeking a $60 billion interim funding allocation for initial expenditure.

Central Government to further upgrade Hong Kong's status as international financial centre

The draft National 12th Five-Year Plan highlighted the role of Hong Kong in the country's development.

Hong Kong foreign currency reserves dip by US$500mn

Hong Kong’s official foreign currency reserve assets worth US$272.7bn represent 54% of Hong Kong dollar M3.

Government proposed tax rebate of 75% of salaries tax

The Government has proposed new measures to answer the feedback received since the Budget address.

79% of adults in Hong Kong think that growth of China is good for their economy

87% even say that China will be the most influential economy in the next ten years.

Headline PMI eased to 53.7 in February 2011

February new orders fell to 54.1 from 58.1 in January while February employment index jumped to 52.6 compared to 51.1 in January.

Minimum MPF income may rise to $5.5k

If the move is approved, Statutory Minimum Wage implementation will not cut the take-home pay of workers whose current monthly income is fewer than...

Bulgarian businessmen encouraged to seize Hong Kong opportunities

Bulgarian businessmen were informed how Hong Kong can help them expand to China and Asia.

Social welfare spending up 11% this year

Education, social welfare and health care will account for $137 billion in total.

Government may adjust 2011-12 Budget proposals

People's views and lawmakers' recommendations pushed Financial Secretary John Tsang to study the suggestions and come up with new proposals.

Hong Kong total deposits up 1.4%

The Hong Kong-dollar loan-to-deposit ratio climbed from 78.1% at the end of December to 79.3% at the end of January.

Surplus reached $34.8bn in January 2011

A surplus of $93.8 billion was registered for the 10 months ending January 31.

Inflation for 2011 forecast at 5%

Absence of exchange rate adjustment flexibility and monetary policy dependence makes HK incapable of tackling inflation in a proactive manner.