Saturday, December 15, 2018

HK to grasp tourism opportunities

In a time of increasing unilateralism and protectionism, tourism is a welcome tonic – a buoyant multilateral embrace of shared experience, cultural co-operation and people-to-people bonds. Indeed, connectivity, inclusiveness, the promise of mutual benefits and many other ambitions are the reasons why President Xi Jinping launched the Belt & Road Initiative some five years ago.…

Politics

Business

Tax law amendment published

Tax law amendment published

The Inland Revenue (Profits Tax Exemption for Funds) (Amendment) Bill 2018 was gazetted today to provide profits tax exemption for eligible funds operating in Hong Kong. The Government proposes introducing new and self-contained provisions in the Inland Revenue Ordinance (Cap. 112) (IRO) so that all funds operating in Hong Kong, regardless of their structure, their location of…
Exchange Fund assets fall

Exchange Fund assets fall

The Exchange Fund’s total assets fell to $3.955 trillion at the end of October, $77.6 billion lower than the previous month, the Monetary Authority announced today. Foreign currency assets decreased by $44.5 billion and Hong Kong dollar assets dropped by $33.1 billion. The Monetary Base was $1.6151 trillion, down 0.3% from the previous month due…
HK to connect and excel

HK to connect and excel

Financial Secretary Paul Chan Over the past 18 years, the Federation of Hong Kong Business Associations Worldwide has excelled in helping to connect overseas entrepreneurs with Hong Kong. Indeed, the Federation’s mission is closely aligned with the Government’s theme of Connect & Excel - in other words, how connecting with Hong Kong can help people and…
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Fentanyl: Chinese authorities face deadly adversary that changes so quickly it defies definition by the law

Fentanyl: Chinese authorities face deadly adversary that changes so quickly it defies definition by...

In a race between law enforcement and narco-criminals, chemistry is king and the drug makers have numbers on their side. Between 2012 and 2015, six fentanyl-related drugs were developed in China for the black market. In 2016, that number was 66, and in the following year 34 more were concocted. Chinese enforcement agencies cannot get…
Investors are still optimistic about Hong Kong despite US-China trade war, says InvestHK director general

Investors are still optimistic about Hong Kong despite US-China trade war, says InvestHK director...

The investment outlook in Hong Kong remains optimistic despite tensions arising from the US-China trade war, with the number of jobs created by foreign and mainland Chinese investors hitting a record high this year, according to InvestHK. Its director general, Stephen Phillips, made the bullish forecast as the agency’s data showed that the number of…
Extreme cold disrupts China’s northeast – but tourists love it

Extreme cold disrupts China’s northeast – but tourists love it

The northeastern Chinese province of Heilongjiang has been experiencing extreme cold this week, with Mohe, the country’s most northern city, recording temperatures of minus 40 degrees. A cold front reached the province on Monday, causing temperatures in most places to drop by 12 to 20 degrees since then, state news agency Xinhua reported. An orange…
Port visit by USS Ronald Reagan a nod to Hong Kong’s special status – and a reminder that if US-China relations sour, city can take nothing for granted

Port visit by USS Ronald Reagan a nod to Hong Kong’s special status –...

Two days after sailing into Hong Kong waters, the USS Ronald Reagan threw a warm party on Friday night. On board the nuclear-powered supercarrier, smiling US Navy officers welcomed and mingled with their counterparts from the People’s Liberation Army’s Hong Kong garrison. Civilian guests included diplomats based in the city and representatives from local business,…

Diplomacy & Defence

South Korea nimbly dodges crossfire of US-China trade war

South Korea nimbly dodges crossfire of US-China trade war

It’s an uneasy time for Asian nations as the rivalry between China and the United States intensifies and uncertainty hangs on whether they can resolve their trade war beyond the 90-day truce. In this special series the South China Morning Post explores how the China-US rivalry is affecting four countries in Asia. In part two,…
Michael Spavor arrest shows perils faced by foreigners in Dandong, on China’s North Korean frontier

Michael Spavor arrest shows perils faced by foreigners in Dandong, on China’s North Korean...

Michael Spavor is the latest in a series of businessmen, aid workers and missionaries to run afoul of authorities in the tense border region By John Power 14 Dec 2018 Michael Spavor. Photo: AP Canadian entrepreneur Michael Spavor’s arrest this week in the northeastern Chinese city of Dandong shines a light on the precarious existence…
Taiwan says there is no plan for a total ban on Huawei products

Taiwan says there is no plan for a total ban on Huawei products

Taiwan on Tuesday said a ban on the government sector using equipment from mainland Chinese telecoms firms would continue, but rejected calls by lawmakers to entirely block the use of Huawei Technologies products on the island. “There is no law for an overall ban on Huawei products in Taiwan and people here are free to…