News
Hong Kong residents, new arrivals to receive consumption vouchers; won’t boost economy long term, say experts
- 2023-02-22
- By: Tsz Yau CHAN、Huen Tung LEIEdited by: Dhuha AL-ZAIDI
- 2023-02-22
Financial Secretary Paul Chan Mo-po announced in his budget speech this morning that eligible residents and students who came to live in Hong Kong through various admission schemes will get consumption vouchers worth HK$2,500 for the first time. Hong Kong permanent residents and adult new arrivals will also receive two installments of vouchers worth HK$5,000 starting in April. This comes after the government’s considerations of the “current economic situation, people’s livelihood and the government’s financial position,” Chan said. Yet some experts have questioned its effectiveness in boosting the economy. “Consumption vouchers will give private consumption a short-term boost while it is not sustainable,” said Alison Leung, a financial journalism lecturer at Hong Kong Baptist University. She said Hong Kong needs sustainable measures, such as, promoting the tourism industry and attracting foreign investment. “More consumption vouchers would put a significant burden on the budget as the estimated spending on consumption vouchers in 2022-2023 was about HK$66.4 billion, and Hong Kong recorded a negative economic growth of 3.5% last year,” she said. The issuance of consumption vouchers comes despite the fiscal deficit for this financial year reaching HK$140 billion rather than the estimated HK$56 billion. Lee Shu Kam, head of the Economic and Finance Department at Shue Yan University, agreed that the universal distribution of the consumption voucher scheme lacks significance. “Unlike what the government expected, people may save money for traveling when the border reopens, posing less effect in stimulating the local economy,” he said. He added that the voucher schemes should target unemployed and low-income residents rather than the general public. Student Cherry Chan, 19, thinks that the cash vouchers are valuable. “They are helpful, especially for students who just turned 18, so they can spend it on electronic devices for studying,” she said. Middle-aged married couple the Wong’s said …
Vegetarian Food Asia 2023
- 2023-02-20
- Society
- By: Yee Ling TSANG、Wai Sum CHEUNGEdited by: Yu Yin WONG
- 2023-02-20
The three-day Vegetarian Food Asia 2023 runs on its biggest scale with more than 300 exhibit booths at the Hong Kong Exhibition and Convention Centre. The event resumes food sampling for the first time since the pandemic.
Hong Kong’s unemployment rate drops in 9 months trend
- 2023-02-17
- Business
- By: Yuchen LI、Yuhe WANGEdited by: Bella Ding、Rex Cheuk、Man TSE
- 2023-02-17
Hong Kong’s seasonally adjusted unemployment rate edged lower from 3.5% in the period from October to December 2022 to 3.4% between December 2022 and January 2023, recording the ninth consecutive improvement from last year. The underemployment rate dropped 0.1 percentage points to 1.4% from November 2022 to January, with the number of the underemployed persons decreasing by 3,200 to 52,100, while the number of unemployed decreased by 7,600 to 118,400. The unemployment rate of the retail sector and the food and beverage sectors declined by 0.4 and 0.1 percentage points to 4.2% and 4.9% respectively. The unemployment rates of other sectors line lined in general. Hong Kong's seasonally adjusted unemployment rate has kept a steady downward trend since May 2022 as the city recovers from the epidemic alongside border reopening between Hong Kong and China, said Chris Sun Yuk-han, the Secretary for Labor and Welfare. “The unemployment and underemployment situation continued to improve,” said Sun. Amid the fifth wave of COVID-19 pandemic in early 2022, retail, accommodation and food service was the most affected industry, with its unemployment rate hitting 10% in the period of February to April 2022, according to the Census and Statistics Department. Vera Yuen Wing-han, an economics lecturer at the University of Hong Kong, said that Hong Kong's service industry had to shut down extensively before border opening as the consumption level was low. Moreover, Hong Kong's local labour market has been troubled for a long time by the shortage of labour, especially in the service industry, Yuen added. “The recruitment advertisements hang all the time but few people apply for the vacancies,” Roy Chan, the human resource manager of 616 Catering Management Limited said. The staff shortage in the catering industry is a common phenomenon especially for the full-time staff. “We prefer the full-time staff …
The 25th Standard Chartered Marathon
- 2023-02-15
- Society
- By: Huen Tung LEI、Tsz Yau CHANEdited by: Ka Tung NG
- 2023-02-15
The 25th Standard Chartered Marathon was held yesterday under humid and drizzly weather. The participants' quota reached 37,000, doubling the amount in 2021. 32 runners were sent to the hospital according to the Hospital Authority. Ethiopia came first in the man and women's race.
Endangered waterbird spotted in Hong Kong
- 2023-02-11
- Health & Environment
- The Young Reporter
- By: James Ezekiel Kalaw MODESTOEdited by: Ming Min AW YONG
- 2023-02-11
A routine morning bike ride at Tai Lam Country Park on 20 January turned into an unforgettable moment for birdwatcher John Chow Kwok-pun. He spotted what he recognised as a female merganser bird at a stream near Kat Hing Bridge, but could not identify it at the time because the bird was diving and swimming in the reservoir. “My first impression was that it was likely to be a female Red-breasted Merganser, a rare but regular species in Hong Kong,” said Chow. “However, its presence in freshwater habitat raises suspicion that it may not be this species, but one of two that prefers freshwater habitat.” Three days later, Chow returned to the bridge along with other bird watchers. “I could see that the merganser has fine gray scales on the chest and flanks, ruling out Red-breasted and Common Mergansers,” said Chow. “The overall features fall within those of a Scaly-sided Merganser, a previously unrecorded species in Hong Kong.” It turned out to be the first Scaly-sided Merganser ever spotted in Hong Kong. It is an endangered duck species native to North Asia and the Russian Far East. "The Scaly-sided Merganser, though first recorded in Hong Kong this year, has been recorded in the region and is considered a rare winter visitor to South China," said Joyee Chan Long-kwan, a fauna conservation officer at the Agriculture, Fisheries and Conservation Department. The large duck is endemic to the East Asian-Australasian Flyway, a major migratory route for over 50 million waterbirds, according to the East Asian-Australasian Flyway Partnership, which includes the Hong Kong Bird Watching Society. "Hong Kong is a major stopover point along the bird migration route. The wide variety of local habitats contributes to the diversity of the birds," said Chan. The Scaly-sided Merganser is on the endangered list of the …
Smart ID Exhibition reminds citizens renewal program is drawing to a close
- 2023-02-10
- Society
- By: Hanzhi YANG、Yiyang LIEdited by: Tsz Yin HO、Ming Min AW YONG
- 2023-02-10
The last application date for replacement of new smart identity cards at the Smart Identity Card Replacement Centres (SIDCCs) has been extended from the original date, February 11 to March 3. Meanwhile, the identity card collection service will be maintained through to March 3, 2023. A roving exhibition by the Immigration Department has been held in PopCorn mall in Tseung Kwan O from February 8 to 9. The exhibition aimed to promote publicity on applications for smart identity cards and appeals for ID cards. Failing to apply for a new ID card within the time limit would be against the law unless there is a reasonable excuse and could result in a maximum fine of HK $5,000. Hongkongers are also not allowed to keep their old ID cards and are required to return them to the Registration of Persons Office. Those found in possession of more than one ID card can be fined up to HK$5000 and imprisoned for two years without a reasonable excuse. The exhibition includes showcases of ID card history, panels showing the requirements for the renewal of ID cards, and the rules for applying for the new smart ID cards. There are also staff from the immigration department stationed to help citizens with any enquiries about the replacement. According to the information shown in the exhibition, the new smart ID card uses a variety of new security features, including colourful UV patterns that appear under ultraviolet light, which improves overall security measures. The new smart ID cards are also more durable than the old ID cards. “Most of the people we helped and explained to are the elderly, and this exhibition surely provided them with what they needed to know," said Lin Si-en, a staff member of the immigration department. Neighbours staying near the mall are …
Prosecutors in Hong Kong’s largest national security trial allege unofficial political election could have harmed stability
- 2023-02-08
- Politics
- By: Junzhe JIANG、Juncong SHUAIEdited by: KOO Chi Tung 顧知桐
- 2023-02-08
Prosecutors on Tuesday said the unofficial 2020 Hong Kong pro-democracy legislative primaries diminished the city’s livelihood and stability in the trial of 47 defendants charged with subversion. Prosecutors listed the details of how defendants organized the Legco primaries in May 2020 and showed videos and posts in their opening remarks during the first two days of Hong Kong’s largest national security trial. The prosecutor said the 47 defendants were inspired by Hong Kong legal scholar Benny Tai Yiu-ting’s article outlining 10 steps of lam chau, a slogan used by democracy activists often translated as “burn together”, to control the Legislative Council through the pre-election. Deputy director of public prosecutions Anthony Chau Tin-hang said the objective of the group was to snatch at least 35 out of 70 Legco seats and then vote down the government budgets, forcing Carrie Lam Cheng Yuet-ngor to resign. Evidence shown in court on Tuesday included a statement signed by some of the accused from Kowloon East and New Territories West asking the then-Chief Executive to respond to the “five major demands”. Sixteen out 47 defendants pleaded not guilty on Monday. Of the defendants who have not pleaded guilty, six are on remand, four of whom have spent more than 700 days in custody. Former member of the Yuen Long District Council Ng Kin-wai and founder of local retail chain AbouThai Mike Lam King-nam plead guilty on Monday. Lam will testify for the prosecution with three other organizers of the primary. In August, Security for Justice Paul Lam Ting-kwok ordered a non-jury trial because of “involvement of foreign factors” and “the protection of personal safety of jurors and their family members”. From midnight, hundreds waited outside the court for public seats. Long queues caused the judiciary to extend the trial to the entire fourth floor and …
Five arrested after yelling in store linked to 47 democrats case
- 2023-02-07
- Society
- By: KOO Chi Tung 顧知桐Edited by: Yu Yin WONG
- 2023-02-07
Police arrested five men over the past 48 hours for alleged disorderly behaviour at the Mong Kok branch of AboutThai grocery store. The chain store was founded by Mike Lam, one of 47 defendants currently being tried for a national security law case. The five, aged 14 to 28 years, were taken away by police on Monday night and early Tuesday morning in Kwai Chung, Kowloon City, and Hung Hom. Staff at AbouThai told police that the five were yelling and harassing customers last Friday and two of them returned on Sunday. An online video shows one entering an AbouThai store and yelling Mike Lam King-nam’s name. “Lam King-nam, come out! Where are you, betrayer?”, the man in the video said. Lam was charged in February 2021 with 46 other pro-democracy activists under the national security law after he stood for election in an unofficial 2020 Hong Kong pro-democracy primaries. He pleaded guilty on Monday and has agreed to be a prosecution witness at the West Kowloon Magistrates Court. Some businesses which claimed to be on the pro-democratic side announced that they would no longer trade with AbouThai. “MeeApp”, an application which provides rewards for people spending at “pro-democratic” stores and restaurants, announced on their Facebook page on Monday that they would remove AbouThai from their platform. “AbouThai is one of the most popular businesses on the platform and Mee purchased their vouchers with money for members to redeem. We have spent tens of thousands of dollars,” the statement reads. “As fellows, we could understand each other’s hardships and circumstances.” “However, this should not include pointing your knife at fellows as it is the foundation for being ‘fellows’.” Chapman To, a Hong Kong actor with a food importing business, said on Facebook that he won’t be selling his products at …
Hong Kong stock market plunges as Sino-US tension rises
- 2023-02-06
- Politics
- By: Yixin Gao、Kin Hou POONEdited by: Bella Ding、Mei Ching LEE、Zimo ZHONG
- 2023-02-06
Hong Kong stocks slumped on Monday amid growing concerns over the spy balloon incident between China and the US and the bet on Chinese full border reopening. The Hang Seng Index opened 311 points lower this morning and dropped 2.1% to 21,222 at the close of Monday trading with a HK$136.02 billion turnover. The Hang Seng Technology Index went down by 3.7%. The Hang Seng China Enterprises Index dipped by 2.7%. A US military fighter jet shot down a suspected Chinese spy balloon on Saturday, while the Chinese government said it was a stray civilian airship blown off course. “The Hang Seng Index had been rising since November last year, once up over 8,000 points. Therefore, the market is sensitive to adverse news. Friday's incident about China's ‘spy balloon’ made investors feel uneasy, leading to a fall in today’s stock market,” said Sam Chi-yung, Strategist at Patrons Securities limited. Bilibili(09626) decreased by 5.4% to HK$186.6. Meituan(03690) dropped 5% to HK$164.1. Tencent(00700) slid 2.1% to HK$376.8. Southbound Stock Connect trading funds, however, bucked the trend, buying a net of nearly HK$2 billion for the day. The Chinese authorities announced on Feb. 3 that mainland China would fully reopen the borders with Hong Kong and Macau from today. The travel and tourism industry performed a 0.5% increase under the overall negative performance of the stock market, according to AASTOCK. Feiyang Group(01901) increased by 10.1% to HK$1.31. Guangdong Nan Yue Logistics Company Limited(03399) went up 5.5% to HK$1.15. Global MasterMind Securities Limited(08063) rose 4.6% to HK$0.068. “There will be more opportunities for both personal and corporate business travel. With relatively weak business operating dynamics in the previous three years affected by COVID-19, the industry should see a more pronounced upturn in the future,” said Harris Wan Kong-sing, Vice President of iFast Global Market.
HK-Mainland border fully reopens on Monday
- 2023-02-04
- Society
- By: Yuhan WANG、Yuqi CHUEdited by: Chengqi MO、Ming Min AW YONG
- 2023-02-04
Revised on 5/2/2023 All travel restrictions between Hong Kong and mainland China will be lifted from Monday, Chief Executive John Lee Ka-chiu announced today. There will be no more quota limits and PCR tests. Crossing points at Lo Wu, Heung Yuen Wai, and Huanggang will be back in service after three years of Covid restrictions. “Hong Kong’s economic activities will be promoted with the increased travellers and cultural exchange,” said Lee. Hong Kong's GDP has declined by 3.5% year on year between 2021 and 2022 according to the Census and Statistics Department. “Since the border shutdown in 2019, passenger flow at our store has been reduced by two-thirds,” said Irene So, a promoter at a branch of Watsons in Sheung Shui, a business district near the Lo Wu and Lok Ma Chau border crossing. “It may take a month to recover,” she added, “but the situation will finally get better and better.” Nancy Meng, the owner of a currency exchange store in Sheung Shui, said that during the past three years of the pandemic, there has almost been no renminbi to exchange. That has heavily affected her business. “I was at a loss,” she said. Meng has seen a gradual recovery in her business since border policies began to ease last month.“I decided to renovate the store for future business,” she said. Marine Sun moved her cosmetics store to Sheung Shui three months ago. She is also busy preparing for the reopening by putting up signs and plaques to attract new passengers next week. “Not only our store, but also the whole business district is looking forward to the reopening,” she said. Daniel Cai, 22, was a cross-border high school student before the Covid shutdown. He moved to Hong Kong to study at a local university. He doubts if life …