English Financial News


University graduates face toughest job market since 2003 as coronavirus hits Hong Kong economy

Fresh graduates are on pins and needles scrambling for jobs amid the coronavirus pandemic and an economic downturn, but human resources specialist warns of a gloomy job market possibly worse than 2003 when SARS hit the local economy. Battered by months of social unrest and the prolonged US-China tra …

“Why only us?” - Hong Kong bar owners doubt government-mandated shutdown, crying for more help

  • 2020-05-01

Bars and restaurant owners welcomed the second round of Anti-Epidemic Fund worth HK$137.5 billion. At the same time, they cast doubts on the effectiveness of the mandatory closure of drinking venues for two weeks starting at 6 pm on April 3, which has been extended to May 7, as a measure to contain …

Battered small businesses: government stimulus package “too little too late”

  • 2020-04-03
  • 新報人財經 TYFP
  • 記者:Kawai Wong、談 巧童編輯:譚 庭軒、楊 佩玲、周 綺琪
  • 2020-04-03

Owners of small and medium enterprises and scholars are sceptical towards the effectiveness and timeliness of government’s new measures to support small businesses under a relief package unveiled by the Financial Secretary Paul Chan Mo-po at his 2020/21budget speech. The HK$120 billion relief packag …


【The Budget】HK flags first fiscal deficit in 15 years and faces gloomy outlook

Financial Secretary Paul Chan Mo-po announced on Wednesday the city’s first fiscal deficit in 15 years of HK$37.8 billion in 2019/2020, about 1.3% of GDP, and alerted deficits for the coming five years. He forecasts the deficit to increase to a record-high level of HK$139 billion in the coming year, …


【The Budget】HK to give HK$10,000 cash handouts to permanent adult residents to boost consumption

Financial Secretary Paul Chan Mo-po has announced that all Hong Kong permanent residents aged 18 or above will be eligible for cash handouts of HK$10,000 each. About 7 million people would be benefited from this one-off relief measure to boost local consumption and heal the wounded economy. Hong Kon …


Food delivery sales mount amid protests but coronavirus outbreak sparks uncertainty

While traditional catering industry faced a brutal winter last year, food delivery sales stayed robust as consumers sheltered from the ongoing demonstrations but their revenue growth may not sustain amid the outbreak of coronavirus. Both the revenue and order number of Deliveroo, one of the biggest …

Jewellery shops struggle in battered retail market despite rising gold prices

  • 2020-02-16

Jewellery shops in Hong Kong struggle as the city’s retail sector continue to take a battering, despite investors favour gold as a safe haven amid the ongoing political uncertainty and the outbreak of the deadly coronavirus. Hong Kong gold prices rose 17 percent last year as investors chose to avoid …

Taiwan’s Tsai Ing-wen stresses ties with Southeast Asia in second term

  • 2020-01-25

Taiwan's President Tsai Ing-wen stressed the future cooperative plans with the South and Southeast Asian countries in a speech right after she won a second term in January despite criticism that her New Southbound Policy (NSP) lacks clear goals and the scale is relatively small in terms of trade. In …

Home move of overseas Taiwanese businessmen could be short-lived

  • 2020-01-23

More Taiwanese businessmen are moving part of their operations back home from Mainland China, but scholars and businessmen have warned that the move could be short-lived as production cost in Taiwan is high and the island is not a member of regional trade pacts. As of January 9, overseas Taiwanese c …

Visitors to Taiwan hit record high, concern in tourism income

  • 2020-01-23

The number of foreign visitors to Taiwan rose 7 per cent to a record of 11.84 million in 2019, the sharpest annual increase in five years, despite Beijing’s policy to ban individual mainland tourists from coming last August. Still, tourism expenditure is a major concern amid fears of fewer Mainland …