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Central Asia can become a strategic logistics hub for Hong Kong as wars in the Middle East and Europe persist, with cargo volume between the city and two countries in the region surging nearly fivefold year on year, the Airport Authority chairman has said. Fred Lam Tin-fuk, who joined a recent trip with Chief Executive John Lee Ka-chiu to Central Asia, also said on Sunday that passenger traffic at Hong Kong airport could reach 70 million this year, recovering to nearly pre-Covid levels. “Central [...]

Visiting indoor ski resorts, enjoying water parks and eating at dim sum restaurants in Shenzhen and other nearby cities have become weekend draws for Hong Kong residents holding foreign passports, who praise a travel permit that has made crossing the border easier and faster. But even two years after the launch of the scheme, some hiccups remain, such as the lack of recognition of the permit by some mainland Chinese immigration staff, representatives of non-Chinese residents and foreign business [...]

Hong Kong leader John Lee Ka-chiu has wrapped up his visit to Central Asia after meeting high-level leaders and sealing nearly 100 partnership agreements aimed at opening the “big door” for local and mainland Chinese businesses. While reviving direct flights to the region was considered a big win from the trip, observers noted that the real challenges lay ahead as authorities and different parties must take necessary follow-up actions to realise the gains. Local authorities and businesses signed [...]

Changes to a Hong Kong public transport subsidy scheme used by about 2.7 million people saved the government HK$69 million (US$8.8 million) in the first month, the welfare minister has said, with lawmakers calling for a future review to ensure its fiscal sustainability as the population ages. Secretary for Labour and Welfare Chris Sun Yuk-han said on Saturday that, following revisions to the concessionary fare scheme that took effect on April 3, the average government subsidy for trips costing [...]

Mainland customers can still open bank accounts in Hong Kong, but banks must adopt stringent new checks to ensure their processes are “compliant and orderly”, the Hong Kong Monetary Authority (HKMA) said in a statement on Saturday. “The banking industry has implemented the new regulatory requirements set out in the HKMA circular to ensure the account opening process is compliant and orderly,” the statement said. “Chinese mainland customers continue to apply for opening accounts, and in general, [...]