Virus slams brakes on Hong Kong

Coronavirus slams brakes on Hong Kong

HONG KONG: Retail sales plunged 13.1% in August from a year earlier as coronavirus restrictions slammed the brakes on spending in the southern Chinese city and tourism slowed to a trickle Sales dropped to HK$25.6 billion ($3.30bn), government data showed on Wednesday, falling for the 18th straight month but at ...

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We’re not to blame for banks' dirty-money scandal

We’re not to blame for banks dirty-money claim

HONG KONG: Hong Kong's banking regulator said the financial hub was committed to meeting international standards on anti-money laundering, after media reports that some leading banks had moved large sums of allegedly illicit funds over nearly two decades despite red flags about the money's origin. BuzzFeed and other media articles ...

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'Made in Hong Kong' brand suffers as US-China tensions deepen

'Made in Hong Kong' brand suffers as US-China tensions deepen

At the Koon Chun Sauce Factory workers are scrambling to cover hundreds of thousands of bottles with new "Made in China" labels as the popular Hong Kong brand falls victim to spiralling diplomatic tensions. Founded nearly a century ago, the family-owned factory has survived a world war, multiple economic crises ...

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Scramble for lawyers in Hong Kong amid Sino-US tensions

Scramble for lawyers in Hong Kong amid Sino-US tensions

Financial firms in Hong Kong are scrambling to fortify their compliance operations following US sanctions and China's new national security law, even as the sector pushes to cut costs amid the coronavirus pandemic. This underscores the growing challenges for firms operating in the Asian financial hub, which was roiled last ...

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China money floods HK property market

China money floods HK property market

HONG KONG: Mainland Chinese investors are scouring Hong Kong's commercial property market for bargains after prices plunged 30%, signalling a new wave of demand following anti-government protests last year that kept a lid on investment activity. Property agents expect the influx of Chinese capital, which has helped Hong Kong become ...

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US says China 'bullying' the UK, cites bank issues in Hong Kong

US says China 'bullying' the UK, cites bank issues in Hong Kong

US Secretary of State Mike Pompeo on Wednesday renewed criticism of British Bank HSBC for its reported treatment of pro-democracy customers in Hong Kong and said China was "bullying" the United Kingdom. Pompeo cited reports of Hong Kong-based executives at Next Media being unable to access their HSBC bank accounts ...

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Ant Group delivers a timely boost to Hong Kong market

Ant Group delivers timely boost to Hong Kong listing market

Ant Group's planned sale of up to $30 billion worth of shares is set to revive fortunes for Hong Kong Exchanges and Clearing Ltd (HKEX) which fell to fifth rank as a destination for initial public offerings (IPOs) in the first half of 2020. China's dominant mobile payments firm and ...

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