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Hong Kong: When Is a Colony Not a Colony?

John Burns wrote . . . . . . . . .

The Education Bureau, responding to a Legislative Council (LegCo) discussion, has offered an official view – the bureau’s “stance” – on whether or not Hong Kong was a colony. Views had been expressed in the LegCo, the bureau pointed out, that “Hong Kong was not a colony.”

“We must base our interpretation of history on historical facts and refer to different perspectives,” the bureau wrote. Indeed. The bureau’s stance is an official interpretation, nothing more or less. It is not in some sense “correct,” but simply an official interpretation.

The bureau’s interpretation is nothing new. The Communist Party of China and the central government have propagated this stance for many years without much traction, and now the bureau is passing it on to the people of Hong Kong as the government’s “official” position. The bureau is thus aligning itself with the central government. We should recognise this move for what it is.

There is much in the statement with which any fair-minded person could agree. The British occupied Hong Kong by force and coerced the Qing court to sign various treaties that produced colonial Hong Kong.

The bureau quite rightly points out that in 1972 Chinese authorities demanded that Hong Kong and Macau be removed from a United Nations list of “colonial territories” that should be granted independence. Removing Hong Kong and Macau from this list did not mean that they ceased to be colonies, but that they ceased to be colonies that should be granted independence.

The bureau claims that to “use the word colony to describe the status of Hong Kong is inappropriate (不恰当, bu qiadang),” shying away from saying that it is incorrect. The bureau goes on to demand that students and the people of Hong Kong must have a “correct (正确, zhengque, proper) understanding of the historical facts.”

This implies that there is only one legitimate interpretation and gives the lie to the bureau’s appeal to “different perspectives.” Perhaps the bureau meant that students and the people of Hong Kong should be aware of the official interpretation. I agree.

What to make of the official view that Hong Kong was not a colony? This interpretation is grounded in a partial understanding of Hong Kong’s legal status before 1997. We need to understand that authorities make law to protect the interests of those in power. The law has a clear political dimension, which the bureau conveniently ignores.

British law, which applied to Hong Kong, recognised Hong Kong as a crown colony. The basis of Hong Kong’s status as a colony may be found in the Letters Patent and the Royal Instructions. The bureau is saying, “Well, your (British) law is not our law.” Okay.

Still from 1841 until 1997 Chinese official entities in Hong Kong recognised and obeyed British law in Hong Kong. That is Chinese state actors in Hong Kong recognised that they were bound by this law. They settled disputes in Hong Kong based on this law.

Thus, while the Chinese government may claim that the Sino-British treaties establishing Hong Kong as a colony had “no legal effect under international law,” Chinese and foreign actors in Hong Kong behaved as if these laws had legal effect. To deny this is to fail to recognise historical fact. Hong Kong was a colony and was recognized as such by Chinese and foreign state actors.

Moreover, colonial Hong Kong was the lived experience of the people of Hong Kong before 1997. The colonial laws of Hong Kong bound them, just as they bound Chinese state actors in Hong Kong. To say that Hong Kong was not a colony is to deny this experience. Such a denial does a great disservice to those of us trying to understand the behaviour of people living in Hong Kong.

Finally, remember that the “through train” brought most of Hong Kong’s colonial political, economic, and legal institutions into the city. They are with us today. Repeating the official narrative that Hong Kong was not a colony undermines the very real need, recognised by the Communist Party, to decolonise Hong Kong, including our civil service, education system, and system of public finance. Starting from the position that the people of Hong Kong were delusional, as the bureau’s stance seems to suggest, gets us nowhere.

The legacy of colonialism in Hong Kong – a system built on racism and coercion – must be confronted and not denied. The Education Bureau fails in its mission to educate when it implies that there is only one correct interpretation of Hong Kong’s colonial history, that is, the official version.

At its most basic, by relying the 1972 UN decision to remove Hong Kong from a list of colonies that should be granted independence, and taking that action out of context, the Education Bureau teaches us that historical facts do not matter, and toeing the line is the best way forward. This is very disappointing from educators.

So, to the Education Bureau: remember your mission is to educate. This means producing citizens capable of independent and critical appraisal of various perspectives, which the bureau claims to value, including its own official stance.


Source : Hong Kong Free Press

Charts: Hong Kong’s Economy Shrank YoY in Q2 2022

Source : Trading Economics

Top Rights Experts Urge Repeal of Hong Kong’s National Security Law

wrote . . . . . . . . .

Independent UN-appointed human rights experts who have urged China to repeal Hong Kong’s 2020 national security law (NSL) after claiming that its use had led to the arrest of children, said on Wednesday that they welcomed pledges to replace it with a more transparent and consultative process.

Chinese and Hong Kong officials have said the law, imposed “overnight” by Beijing in June 2020, was necessary to restore and safeguard stability after anti-government and anti-China demonstrations erupted in 2019.

Definition unclear

The UN Human Rights Committee underscored the shortcomings of the National Security Law (NSL), including its lack of clarity on “national security” and the possibility of transferring cases from Hong Kong to mainland China.

“There was a lot of discussions on recent legislation, including Hong Kong National Security Law. I think there was a constructive discussion on those issues and the committee did raise its concerns,” said Photini Pazartzis, Chairperson of the Human Rights Committee, at a press conference in Geneva.

The panel urged Hong Kong to repeal the national security law and, in the meantime, refrain from applying it.

“The Committee was deeply concerned about the overly broad interpretation of Hong Kong National Security Law, the NSL, which was passed by the National People’s Congress of China without consultation with the Hong Kong’s public,” said vice chair, Christopher Arif Balkan.

Dozens of child arrests

He added that since it was introduced in 2020, the NSL had reportedly led to the arrests of “over 200 people, including 12 children.”

The Committee monitors the application of the International Covenant on Civil and Political Rights (ICCPR) by State parties. It released its findings on Hong Kong following a scheduled review in Geneva.

The Hong Kong Special Administrative Region is a signatory to the Covenant for investigation, prosecution, trial and execution of penalties, but mainland China is not.

“Once a State party has subscribed to the Covenant, there is an obligation that those rights are paramount.

“In other words, your local legislation cannot derogate from those rights. There are human rights, after all, universal rights,” explained Mr. Arif Balkan. “China is not a party to the ICCPR. But then China can implement the NSL within Hong Kong. So that creates a lacuna for residents of Hong Kong,” he added.

Hong Kong returned to Chinese rule in 1997 with the guarantee of a high level of autonomy, including freedom of expression. Representatives of the semi-autonomous territory informed the Committee that they were contemplating new national security legislation. The Committee members said they hoped the law could be amended for the better.

Promises broken

“They gave us assurances, that there would be transparency, consultation in enacting a new security law,” said Mr. Arif Balkan.

The UN Human Rights Committee published its findings on Hong Kong, China, among other countries, after the closing of its 135th session on Wednesday in the Swiss city.

The findings contained the Committee’s main concerns and recommendations on the implementation of the International Covenant on Civil and Political Rights, as well as positive aspects.

The Human Rights Committee monitors States parties’ compliance with the International Covenant on Civil and Political Rights. It has been ratified by 173 States parties. The Committee is made up of 18 members who are independent human rights experts drawn from around the world, who serve in their personal capacity and not as representatives of States parties.


Source : United Nations

Chart: HKMA Bought a Total of HK$174.561 billion Since May 12, 2022

When US$ touched HK$7.85 upper limit

Updated on 7/29/22

香港銀行體系總結餘將於8月2日跌至1535.79億港元。


Updated on 7/24/22


Source : HKET


Source : Trading Economics and Ming Pao

University of Hong Kong Makes National Security Law Course a Mandatory Graduation Requirement

Candice Chau wrote . . . . . . . . .

Undergraduate students at the University of Hong Kong (HKU) will have to take an introductory course on the Beijing-imposed national security law in order to graduate.

According to an email sent to all HKU students on Monday seen by HKFP, pupils will have to enrol in a non-credit bearing course titled “Introduction to the Constitution, the Basic Law and the National Security Law.” The requirement will kick in from the 2022/23 school year.

The course will be conducted online, and will adopt “a self-directed learning approach,” according to the email. More details will be announced on September 1 when the new school year begins.

Including HKU, all eight University Grant Committee-funded (UGC) universities in the city have launched or will launch national security courses.

Ming Pao reported on Monday that national security courses at the Chinese University of Hong Kong, Hong Kong University of Science and Technology, and the Hong Kong Polytechnic University will begin next school year.

Hong Kong Baptist University, the Education University of Hong Kong, Lingnan University, and City University of Hong Kong have already incorporated national security content into their curriculum in forms of seminars and workshops, Ming Pao reported.


Source : HKFP

Charts: Some Notable Changes in Hong Kong Since July 1, 1997

习近平在庆祝香港回归祖国25周年大会暨香港特别行政区第六届政府就职典礼上的讲话 (全文)

同胞们,朋友们:

今天,我们在这里隆重集会,庆祝香港回归祖国25周年,举行香港特别行政区第六届政府就职典礼。

首先,我向全体香港居民,致以诚挚的问候!向新就任的香港特别行政区第六任行政长官李家超先生,向香港特别行政区第六届政府主要官员、行政会议成员,表示热烈的祝贺!向支持“一国两制”事业、支持香港繁荣稳定的海内外同胞和国际友人,表示衷心的感谢!

中华民族五千多年的文明史,记载着华夏先民在岭南这片土地上的辛勤耕作。鸦片战争以后的中国近代史,记载着香港被迫割让的屈辱,更记载着中华儿女救亡图存的抗争。中国共产党团结带领人民进行的波澜壮阔的百年奋斗史,记载着香港同胞作出的独特而重要的贡献。有史以来,香港同胞始终同祖国风雨同舟、血脉相连。

香港回归祖国,开启了香港历史新纪元。25年来,在祖国全力支持下,在香港特别行政区政府和社会各界共同努力下,“一国两制”实践在香港取得举世公认的成功。

——回归祖国后,香港在国家改革开放的壮阔洪流中,敢为天下先,敢做弄潮儿,发挥连接祖国内地同世界各地的重要桥梁和窗口作用,为祖国创造经济长期平稳快速发展的奇迹作出了不可替代的贡献。香港积极融入国家发展大局、对接国家发展战略,继续保持高度自由开放、同国际规则顺畅衔接的优势,在构建我国更大范围、更宽领域、更深层次对外开放新格局中发挥着重要功能。香港同内地交流合作领域全面拓展、机制不断完善,香港同胞创业建功的舞台越来越宽广。

——回归祖国后,香港战胜各种风雨挑战,稳步前行。无论是国际金融危机、新冠肺炎疫情,还是一些剧烈的社会动荡,都没有阻挡住香港行进的脚步。25年来,香港经济蓬勃发展,国际金融、航运、贸易中心地位稳固,创新科技产业迅速兴起,自由开放雄冠全球,营商环境世界一流,包括普通法在内的原有法律得到保持和发展,各项社会事业全面进步,社会大局总体稳定。香港作为国际大都会的勃勃生机令世界为之赞叹。

——回归祖国后,香港同胞实现当家作主,实行“港人治港”、高度自治,香港真正的民主由此开启。25年来,以宪法和基本法为基础的特别行政区宪制秩序稳健运行,中央全面管治权得到落实,特别行政区高度自治权正确行使。制定香港国安法,建立在香港特别行政区维护国家安全的制度规范,修改完善香港选举制度,确保了“爱国者治港”原则得到落实。香港特别行政区的民主制度符合“一国两制”方针,符合香港宪制地位,有利于维护香港居民民主权利,有利于保持香港繁荣稳定,展现出光明的前景。

同胞们、朋友们!

“一国两制”是前无古人的伟大创举。“一国两制”的根本宗旨是维护国家主权、安全、发展利益,保持香港、澳门长期繁荣稳定。中央政府所做的一切,都是为了国家好,为了香港、澳门好,为了港澳同胞好。在庆祝香港回归祖国20周年大会上,我曾经讲过,中央贯彻“一国两制”方针坚持两点,一是坚定不移,确保不会变、不动摇;二是全面准确,确保不走样、不变形。今天,我要再次强调,“一国两制”是经过实践反复检验了的,符合国家、民族根本利益,符合香港、澳门根本利益,得到14亿多祖国人民鼎力支持,得到香港、澳门居民一致拥护,也得到国际社会普遍赞同。这样的好制度,没有任何理由改变,必须长期坚持!

同胞们、朋友们!

温故知新,鉴往知来。“一国两制”在香港的丰富实践给我们留下很多宝贵经验,也留下不少深刻启示。25年的实践告诉我们,只有深刻理解和准确把握“一国两制”的实践规律,才能确保“一国两制”事业始终朝着正确的方向行稳致远。

第一,必须全面准确贯彻“一国两制”方针。“一国两制”方针是一个完整的体系。维护国家主权、安全、发展利益是“一国两制”方针的最高原则,在这个前提下,香港、澳门保持原有的资本主义制度长期不变,享有高度自治权。社会主义制度是中华人民共和国的根本制度,中国共产党领导是中国特色社会主义最本质的特征,特别行政区所有居民应该自觉尊重和维护国家的根本制度。全面准确贯彻“一国两制”方针将为香港、澳门创造无限广阔的发展空间。“一国”原则愈坚固,“两制”优势愈彰显。

第二,必须坚持中央全面管治权和保障特别行政区高度自治权相统一。香港回归祖国,重新纳入国家治理体系,建立起以“一国两制”方针为根本遵循的特别行政区宪制秩序。中央政府对特别行政区拥有全面管治权,这是特别行政区高度自治权的源头,同时中央充分尊重和坚定维护特别行政区依法享有的高度自治权。落实中央全面管治权和保障特别行政区高度自治权是统一衔接的,也只有做到这一点,才能够把特别行政区治理好。特别行政区坚持实行行政主导体制,行政、立法、司法机关依照基本法和相关法律履行职责,行政机关和立法机关既互相制衡又互相配合,司法机关依法独立行使审判权。

第三,必须落实“爱国者治港”。政权必须掌握在爱国者手中,这是世界通行的政治法则。世界上没有一个国家、一个地区的人民会允许不爱国甚至卖国、叛国的势力和人物掌握政权。把香港特别行政区管治权牢牢掌握在爱国者手中,这是保证香港长治久安的必然要求,任何时候都不能动摇。守护好管治权,就是守护香港繁荣稳定,守护七百多万香港居民的切身利益。

第四,必须保持香港的独特地位和优势。中央处理香港事务,从来都从战略和全局高度加以考量,从来都以国家和香港的根本利益、长远利益为出发点和落脚点。香港的根本利益同国家的根本利益是一致的,中央政府的心同香港同胞的心也是完全连通的。背靠祖国、联通世界,这是香港得天独厚的显著优势,香港居民很珍视,中央同样很珍视。中央政府完全支持香港长期保持独特地位和优势,巩固国际金融、航运、贸易中心地位,维护自由开放规范的营商环境,保持普通法制度,拓展畅通便捷的国际联系。中央相信,在全面建设社会主义现代化国家、实现中华民族伟大复兴的历史进程中,香港必将作出重大贡献。

同胞们、朋友们!

在中国人民和中华民族迎来从站起来、富起来到强起来的伟大飞跃中,香港同胞从未缺席。当前,香港正处在从由乱到治走向由治及兴的新阶段,未来5年是香港开创新局面、实现新飞跃的关键期。机遇和挑战并存,机遇大于挑战。中央政府和香港社会各界人士对新一届特别行政区政府寄予厚望,全国各族人民对香港满怀祝福。在这里,我提出4点希望。

第一,着力提高治理水平。完善治理体系、提高治理能力、增强治理效能,是把香港特别行政区建设好、发展好的迫切需要。行政长官和特别行政区政府是香港的当家人,也是治理香港的第一责任人。要忠实履行誓言,以实际行动贯彻“一国两制”方针,维护基本法权威,为香港特别行政区竭诚奉献。要按照德才兼备的标准选贤任能,广泛吸纳爱国爱港立场坚定、管治能力突出、热心服务公众的优秀人才进入政府。要提升国家观念和国际视野,从大局和长远需要出发积极谋划香港发展。要转变治理理念,把握好政府和市场的关系,把有为政府同高效市场更好结合起来。要加强政府管理,改进政府作风,树立敢于担当、善作善成新风尚,展现良政善治新气象。

第二,不断增强发展动能。香港地位特殊,条件优良,发展空间十分广阔。中央全力支持香港抓住国家发展带来的历史机遇,主动对接“十四五”规划、粤港澳大湾区建设和“一带一路”高质量发展等国家战略。中央全力支持香港同世界各地展开更广泛、更紧密的交流合作,吸引满怀梦想的创业者来此施展抱负。中央全力支持香港积极稳妥推进改革,破除利益固化藩篱,充分释放香港社会蕴藏的巨大创造力和发展活力。

第三,切实排解民生忧难。“享天下之利者,任天下之患;居天下之乐者,同天下之忧。”我说过,人民对美好生活的向往,就是我们的奋斗目标。当前,香港最大的民心,就是盼望生活变得更好,盼望房子住得更宽敞一些、创业的机会更多一些、孩子的教育更好一些、年纪大了得到的照顾更好一些。民有所呼,我有所应。新一届特别行政区政府要务实有为、不负人民,把全社会特别是普通市民的期盼作为施政的最大追求,拿出更果敢的魄力、更有效的举措破难而进,让发展成果更多更公平惠及全体市民,让每位市民都坚信,只要辛勤工作,就完全能够改变自己和家人的生活。

第四,共同维护和谐稳定。香港是全体居民的共同家园,家和万事兴。经历了风风雨雨,大家痛感香港不能乱也乱不起,更深感香港发展不能再耽搁,要排除一切干扰聚精会神谋发展。香港居民,不管从事什么职业、信奉什么理念,只要真心拥护“一国两制”方针,只要热爱香港这个家园,只要遵守基本法和特别行政区法律,都是建设香港的积极力量,都可以出一份力、作一份贡献。希望全体香港同胞大力弘扬以爱国爱港为核心、同“一国两制”方针相适应的主流价值观,继续发扬包容共济、求同存异、自强不息、善拼敢赢的优良传统,共同创造更加美好的生活。

我们还要特别关心关爱青年人。青年兴,则香港兴;青年发展,则香港发展;青年有未来,则香港有未来。要引领青少年深刻认识国家和世界发展大势,增强民族自豪感和主人翁意识。要帮助广大青年解决学业、就业、创业、置业面临的实际困难,为他们成长成才创造更多机会。我们殷切希望,每一个香港青年都投身到建设美好香港的行列中来,用火热的青春书写精彩的人生。

同胞们、朋友们!

“愿将黄鹤翅,一借飞云空。”中华民族伟大复兴已经进入不可逆转的历史进程。推进“一国两制”在香港的成功实践是这一历史进程的重要组成部分。我们坚信,有伟大祖国的坚定支持,有“一国两制”方针的坚实保障,在实现我国第二个百年奋斗目标的新征程上,香港一定能够创造更大辉煌,一定能够同祖国人民一道共享中华民族伟大复兴的荣光!


Source : 新华视点

Hong Kong Burnishes China Ties as Luster as Global Hub Fades

Zen Soo and Joe McDonald wrote . . . . . . . . .

Every few generations, Hong Kong transforms itself, evolving from a swampy fishing village to 19th century colonial port, to capitalist outpost and factory after China’s 1949 revolution, to 21st century financial center.

As the former British colony marks the 25th anniversary of its return to China, reeling from pandemic curbs that devastated business and a crackdown on its pro-democracy movement, Hong Kong leaders say it is time to transform again. They say the city should become a leader in technology that relies more on its ties with nearby Chinese factory cities than on global trade.

Chief Executive-elect John Lee’s government is under pressure to generate new sources of economic growth, looking beyond COVID outbreaks and anti-virus controls that have devastated tourism and business and uncertainty about the legal climate after a crackdown on the city’s pro-democracy movement.

In April, during his election campaign, Lee promised to “start a new chapter” for the city better known as one of Asia’s busiest ports and biggest stock markets and “strengthen its competitiveness” in technology and innovation as well as trade and finance.

Lee gave no details but pointed to the Greater Bay Area, a Chinese government initiative to link Hong Kong with neighboring mainland cities including the technology and finance hub of Shenzhen and the manufacturing powerhouses of Dongguan and Foshan.

“There are great opportunities in the Greater Bay Area that haven’t been realized yet,” said David Graham, executive director of the British Chamber of Commerce in Hong Kong. “It is a big opportunity for Hong Kong, and it will be very hard to replicate in other cities like Singapore or Dubai.”

Adding to the urgency for Lee to roll out a long-term strategy, executives frustrated with Hong Kong’s travel controls are leaving the city, business groups say. Some companies are moving for good to Singapore, Bangkok, Dubai or other business centers.

“Hong Kong’s strength as a global connector has been greatly reduced,” said Joseph Armas, chairman of the American Chamber of Commerce in Hong Kong. Executives have left for cities where “travel is feasible.”

Armas appealed to Lee for a “concrete roadmap” to revive Hong Kong, which remains, together with mainland China and Taiwan, one of the few places that still requires inbound travelers to serve mandatory quarantines.

For Michael Chan, who manages a fashion goods manufacturing business, the restrictions have extended what used to be one-week trips to factories in Bangladesh or China to a month or two, since it makes no sense to spend weeks in quarantine for a short work trip.

Chan has considered temporarily relocating to Singapore, whose controls are much less strict.

“When I meet government officials, I often have to meet them face to face and talk about things,” said Chan, a veteran of multiple quarantines. “It’s not like in the U.S. where I can just use Zoom for a video call.”

Hong Kong lost nearly 90,000 of its 7.5 million population in 2021, according to government figures. More than 100,000 people left in February and March of this year, during the city’s worst COVID wave.

The angst over Hong Kong’s travel controls “presents an opportunity for others to dip into our talent pool,” said Sally Wong, CEO of the Hong Kong Investment Funds Association.

Activists and foreign governments complain the ruling Communist Party is chipping away at the 50 years of autonomy Beijing promised after 1997. The freedoms afforded to Hong Kong and its leeway for self-governance had helped it keep its status as a center for Asian headquarters of global companies even as rent and other costs soared to record levels and levels of inequality grew ever wider.

Hong Kong still has a skilled workforce, an efficient port and a Western-style legal system considered to be impartial and reliable.

But its status as a global hub for trade and business center is waning.

One in 20 companies surveyed by the American Chamber of Commerce in Hong Kong plan to move their global or regional headquarters out of Hong Kong, the chamber reported in January. It said half were uncertain about whether to go.

Some businesses are watching to see how law enforcement and the free flow of information and people that are crucial to commerce and finance might change. Two out of five companies surveyed said they worry they will lose free internet access, vital for a trading center that relies on the flow of information.

“There is a perception that foreign businesses are less welcome,” the report said. “More than half our respondents feel the government is ‘unconcerned’ or ‘dismissive’ about business concerns.”

Until now, Hong Kong has been largely free of the censorship on the mainland, where internet barriers known as the “Great Firewall” are used by the ruling party to block China’s public from seeing foreign websites run by news outfits, governments and human rights activists. But the territory’s leading pro-democracy newspaper, Apple Daily, was shut down during the crackdown and its publisher, Jimmy Lai, sentenced to prison.

Kurt Tong, a former U.S. consul general in Hong Kong who is managing partner of The Asia Group, a consulting firm, said that so far the city’s national security law, though used to stifle dissent, has not had much impact on business and finance.

But the effect of the law and Beijing’s overhaul of the territory’s political system bear watching, he said.

“People who care about the Hong Kong financial system need to think about that,” Tong said.

Hong Kong thrived as the trade gateway to China for decades, but it was eclipsed as the world’s busiest container port in 2000 by facilities in the Chinese mainland. Two decades later, with cargo volume barely 10% above its 2000 level, Hong Kong’s port ranks 8th in the world. Shanghai, Shenzhen and three other Chinese ports are bigger.

Hong Kong’s stock market, once Asia’s biggest outside Japan, also has grown steadily but has slipped behind regional rivals.

Companies traded in Hong Kong have a total market value of $5.4 trillion, compared with $8.2 trillion for the Shanghai Stock Exchange. Companies on China’s second exchange in Shenzhen are worth $6.2 trillion, according to the World Federation of Exchanges.

Tong is among those who believe Hong Kong’s recent setbacks are only temporary.

“The current status is that Hong Kong is a very significant global center, one of the most important in the world, and it plays a unique and critical role in linking the Chinese economy with the rest of the global economy and channeling finance in both directions,” said Tong.

The city is meanwhile nurturing its role as a center for innovation, setting up research centers that have helped incubate dozens of start-up companies.

A vice chancellor of the Chinese University of Hong Kong, Rocky S. Tuan, pointed to medical and biotechnology research as one of the city’s less well-known strengths. Writing in the newspaper South China Morning Post, he said “Hong Kong offers access to capital, expertise, global regulatory recognition of its clinical trial data and a network of world-class universities.”

That could lend the city an edge over regional rivals.

“Other cities in the region, notably Singapore, perhaps will be more of an Asia hub or Southeast Asia hub,” said Tommy Wu of Oxford Economics. “Hong Kong’s business will be mainly focused on Greater China.”


Source : AP

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The restaurant capsized days after it was towed out to sea en route to an unspecified destination.

Source : Caixin

Chart: Hong Kong Interbank Rate Rises to Highest Since 2020

Source : Bloomberg