Shanghai overtakes HK as the 3rd international shipping center
In the latest edition of the Xinhua-Baltic International Transportation Centre Development Index Report (2020), Shanghai overtook Hong Kong and was ranked 3rd only to Singapore and London.
Emirates to cut 9,000 jobs due to pandemic
The president of Emirates said the Middle Eastern airline is set to cut as many as 9,000 jobs because of the pandemic. It is the first time the world's biggest long-haul carrier, which operates a fleet of 270 wide-bodied aircraft, has disclosed how many jobs will be lost.
Fast retailing suffered a HK$700 million loss last quarter
Fast retailing (06288), the parent company of UNIQLO, posted a loss of HK$700 million last quarter, recording an operating deficit in overseas markets. Although the Greater China business returned to growth in May, the Group decided to further lower its consolidated revenue and earnings forecasts.
JPMorgan: Limited impact of the US sanction on HK's economy
JPMorgan Chase said in a report yesterday (July 9) that the removal of Hong Kong's unique status as a limited direct impact on the HK economy, warning that the U.S. will eventually hurt itself if it takes measures against HK's financial markets.
Hong Kong07-10 15:00:03
China's first pink economy shares listed on Nasdaq
China-based BlueCity, an LGBTQ online community, the world's number one pink economy, officially launched its IPO on the NASDAQ yesterday (July 8), trading under the ticker symbol "BLCT" at 16 U.S. dollars per share.
A-shares usher in bull market
The A-share market has been rallying for several days, and it is believed that the bull market has officially started after five years. Many fund houses took advantage of this trend to launch equity funds, which attracted investors to snap up.
Hong Kong07-08 19:54:41
Mainland China is HK's primary market, says EY
Some professionals are concerned about the implementation of Hong Kong's national security law will affect HK's business environment and status as an international financial center.
Seven stock investment directions for the 2nd half of 2020
Chip stocks, property management stocks, and cloud stocks have increased significantly in the first half of the year and are expected to underperform in the second half of the year.
Rebuild mutual trust between HK and mainland China
The implementation of Hong Kong's national security law will help rebuild mutual trust between HK and mainland China, thus releasing the positive energy of "One country, two systems" to the fullest extent possible.
Hong Kong07-02 12:04:33
HSI rise to welcome national security law
To suppress the implementation of national security laws in Hong Kong, the U.S. has announced on Monday (June 29) that it was suspending Hong Kong's preferential treatment, halting defense exports and restricting Hong Kong's access to high tech products. These measures, however, had no impact on HK stocks.
Hong Kong07-01 17:56:34
Greater Bay Area sees closer ties in wealth management with new scheme
A two-way cross-boundary wealth management connects pilot scheme, dubbed “Wealth Management Connect”, is to be implemented in the Greater Bay Area, according to a joint announcement made by People's Bank of China (PBC), HK Monetary Authority (HKMA) and Monetary Authority of Macao (AMCM) on Monday (June 29).
HK financial sector support national security legislation, Paul Chan says
Financial Secretary of Hong Kong, Paul Chan Mo-Po, pointed out On June 28, that the financial sector in HK generally support the national security legislation and believe that it will bring new opportunities to HK's development.
Hong Kong06-29 18:44:09
Hurun revealed the richest 4 months after COVID-19 outbreak
On June 23, Hurun Research released "Wealth Impact 4mths after Covid-19 Outbreak", a special report looking into wealth changes of the world's most successful entrepreneurs in the four months ending May 31, 2020.
China to encourage domestic sale of export enterprises
China will support export enterprises to sell their products in the domestic market by easing market access, expanding sales channels, and strengthening financial assistance to help them tide over difficulties and stabilize foreign trade.
Taobao enters E-learning market
On June 22, Taobao released the "100 million freshmen plan" and announced that it would help more than 1,000 tutors and knowledge payment institutions to obtain more than 100,000 new students in the next three years.