News
“World’s Biggest Welcome Gift” aims to lure back tourists
- 2023-02-04
- Society
- By: Junzhe JIANG、Juncong SHUAIEdited by: Ming Min AW YONG、Dhuha AL-ZAIDI
- 2023-02-04
Chief executive John Lee Ka-chiu launched the “Hello Hong Kong” campaign today in an effort to boost the city’s economy after the pandemic. The HK$2 billion scheme offers at least 700,000 free airline tickets to overseas visitors as well as local people. Speaking in a press conference, Airport Authority CEO, Fred Lam Tin-fuk said the “World of Winners” airline tickets giveaway will begin in March. It will first target Southeast Asia, followed by Mainland China in April and then other parts of the world afterwards. Most of the tickets will be given away in phases by the three Hong Kong based airlines, Cathay Pacific Airways, Hong Kong Express and Hong Kong Airlines through promotions such as “Buy one, get one” and lucky draws. Lam said he expects each visitor to bring two to three companions, attracting up to 1.5 million visitors to the city between March and September. Visitors staying in Hong Kong for less than 90 days will be offered a “Hong Kong Goodies” bag which will include complimentary drinks coupons worth, cash vouchers and exclusive gifts at local attractions and museums. The “Hello Hong Kong” campaign will also include cultural and sports activities. “It takes time to recover. It’s impossible to say that Hong Kong will resume the capacity of holding those events to the level of 2018 and 2019 in one day,” said Kevin Yeung, Secretary for Culture, Sports and Tourism. Zhao Yihan, 20, a university student in mainland China wishes to visit Hong Kong through “Hello Hong Kong”. “The flight ticket is a big cost for me, but the campaign may give me the chance to visit Hong Kong for free,” Zhao said. Sarah Emiliana, 22, a Singaporean university student, said a free plane ticket would "really help to reduce the cost of travelling". Even …
Glamorisation of Western beauty neglects Asian women, impacts self-esteem
- 2023-02-03
- Society
- By: Dhuha AL-ZAIDIEdited by: Ming Min AW YONG
- 2023-02-03
Nearly six years ago in Hong Kong, Wan Yee Man, then 17, put on a black dress with rose embroidery detail paired with trending fishnet tights that flaunted her curvy figure. Feeling confident and comfortable, she uploaded a picture on Instagram to promote body positivity, reminding her followers that despite not being “skinny”, she will wear what she wants and that they should too. Instead of receiving the expected affirming comments, she was met with hate, with a particular classmate commenting, “If she cares, why not just take some time to lose weight? It’s more practical anyway.” Ping! Her phone notified her of another comment. “I wanted to report as soon as I saw it,” it read. “Agree,” said another, followed by laughing emojis from one more. East Asian beauty standards have admired fair skin and a petite build for centuries. However, in Hong Kong, which prides itself on an “East-meets-West” philosophy, some women, like Wan, are finding the preference for typically Eurocentric features detrimental to their self-esteem. Western media, historically with blond, thin and tall women, has shaped local beauty standards. “When a Hong Kong girl is of mixed race, especially if she's Asian and white, Hong Kongers will consider her features very pretty,” Wan said. This desire to conform to the traditional “ideal” woman has impacted Wan’s self-esteem, causing her to constantly question her appearance and even stop posting online for a while. However, her advocacy for self-acceptance is far from over. “Now, I say fuck it. I don't have to care what people think, I love myself,” she said. She hopes that Hong Kong will become more accepting toward different body types. “I really want girls to love themselves. Stop saying, ‘I want to lose weight’. If you want to, do it for yourself, not for the …
Cross-border students back to school after mainland borders reopen
- 2023-02-02
- Society
- By: Runqing LI、Yi Yin CHOWEdited by: Dhuha AL-ZAIDI、Ming Min AW YONG
- 2023-02-02
Students at Fung Kai No.1 Primary School in Sheung Shui joined a ceremony this morning to welcome the return of cross-border classmates. It’s the first time in three years that students from Shenzhen are back in school. COVID-19 travel restrictions between Hong Kong and mainland China meant the children have been learning online. Today’s event began with the raising of the national flag, followed by Chinese Culture Day festivities as part of the Lunar New Year celebrations. Principal Chu Wai-Lam said in his speech that he was excited to greet the students again after three years. “Although it was impossible, I really wanted to give them a hug when I saw them back,” he said. Cross-border students must provide a negative PCR test every 48 hours and book a quota to depart every day. Wang Tiancheng, 11, lives in Shenzhen. “I feel very excited and a little bit nervous to see my classmates,” he said. Rigid quarantine policies meant he was not able to visit his friends during the pandemic. Bu Jingna, who sent her two children to Fung Kai No.1 Primary School, said they are happy to return to Hong Kong. “My children studied online for three years in Shenzhen, so once we had the opportunity to return to Hong Kong, we came back immediately,” she said. Principal Chu hopes that the optimism shared amongst parents and school children today will encourage more students to return in the near future. “We hope our support could give them a normal school life as soon as possible,” he said.
HSI retreats from 11-month-high as mainland stock market resumes
- 2023-01-31
- Business
- By: Lok Yi CHU、Ho Yi CHEUNGEdited by: Nga Ying LAU、Bella Ding
- 2023-01-31
Hong Kong stocks pulled back on the third trading day of the Year of the Rabbit, also the settlement date of HSI futures, after a week-long Lunar New Year break in mainland China. The Hang Seng Index opened 109 points lower this morning and dipped 2.7 percent, or 619 points, to 22,069.73 at the close of Monday trading, with a turnover of 203.25 billion. “The Hang Seng Index will experience profit-taking after hitting an 11-month-high, also the futures index is settled on today, which caused market fluctuations,” wrote Sam Chi-Yung, a Certified Financial Consultant of Patrons Securities, on Facebook. CRIC Securities Company Limited announced yesterday that the transaction volume of mainland real estate during the Lunar New Year fell by 14 percent year-on-year, leading to weakness in mainland real estate stocks. Country Garden (2007) slumped 8.3 percent to HK$2.97 while Longfor Group (0960) declined 5.7 percent to HK$26.60. The Hang Seng Mainland China Property Index overall downed 4.7 percent. Property management stocks fell correspondingly. Country Garden Services (6098) slid 5.92% to close at HK$21.45. The Hang Seng Technology Index dropped 4.8 percent amid profit-taking after two consecutive days of rising. Alibaba Health Information Technology Ltd. (0241) sank 8.0 percent to HK$7.05, while Alibaba (9988) and Tencent Holdings Ltd. (0700) dropped 7.1 percent to HK$109.00 and 6.7 percent to HK$387.20 respectively. The Hang Seng China Enterprises Index decreased by 3.6 percent. Mainland enterprise stocks Haidilao (6862) and Sands China Limited (1928) decreased by 6.85 percent at HK$21.75 and 5.56 percent at HK$28.85 respectively. The blue chips backed the stock market. A CICC research report, based on the data provided by Informa Financial Intelligence Company EPFR, revealed that overall net inflows of the overseas active funds into Hong Kong Stock market have been recorded for three consecutive weeks as …
Chinese cross-border investors suffer losses as Futubull and Tiger Brokers face corrective measures
- 2023-01-28
- Business
- By: Jiaxing Li、Lok Yi CHUEdited by: Bella Ding、Yuhe WANG、Le Ha NGUYEN
- 2023-01-28
Investors in China have been in a weak market sentiment since China’s securities regulator ordered the two major online brokerages Futubull and UP Fintech, also known as Tiger Brokers in Asia, to rectify their business last month. Futu Holding Limited and UP Fintech Holding Limited have conducted cross-border securities businesses involving domestic investors without regulatory consent and will be banned from opening new accounts and soliciting new clients, said China Securities Regulatory Commission in a statement on Dec 30, 2022. Existing Chinese investors can still trade via the brokerages but additional fund transfers through unlawful channels to their accounts will be banned. “The sudden regulation brought uncertainty to my wealth, and I therefore chose to move my funds and not to use these two platforms anymore,” said Allen Liu, a two-year user of Futubull and Tiger Brokers, adding that the government action affected his investment portfolio and caused some losses. Ge Chenming, a cross-border securities investor on Futubull and UP Fintech, said that he suffered a sudden loss of CN¥160,000 (about HK$185,000) because of the fall in the US and platform stocks after the regulation. “After the shut-down of these platforms, I have had difficulties buying US stocks because my English is poor and foreign platforms are hard for me to understand, ” Ge added. Shares of Futu and UP Fintech, both listed on Nasdaq, slumped around 30% to a one-month low at US$37.84 (HK$296) and US$3.20 (HK$25), respectively, one day after the announcement of CSRS. As of 26 Jan, the prices of Futu and UP Fintech have increased by more than 44% and 31% year-to-date, though both prices are still below the levels before the regulation. CSRC said it was illegal for Futubull and Tiger Brokers to provide investors with overseas stock speculation services, including stock trading on Hong …
