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A Hong Kong court has sentenced veteran film producer and actor Raymond Wong Pak-ming to five months in prison for sharing insider information with his sister to trade shares in an entertainment company he chaired in 2017. However, the 80-year-old will not have to begin serving the sentence immediately, after Magistrate Ko Wai-hung granted him bail pending appeal on Tuesday. Ko said he would not consider a suspended sentence or any non-custodial punishment for Wong, who was convicted of insider [...]

Hong Kong’s top decision-making body has approved to propose a flat 2 per cent pay rise for civil servants this year, citing the need for a prudent approach to managing public finances amid a volatile geopolitical environment. The raise will bring about an extra annual government spending of HK$6 billion (US$765.7 million), according to Secretary for the Civil Service Ingrid Yeung Ho Poi-yan, who will meet staff representatives on Wednesday as part of the process and report to the Executive [...]

About 3,000 residents at a Tsuen Wan housing estate have been left without water and with disrupted lift services for more than 24 hours after a power outage, with electricity only gradually restored around noon on Tuesday. The outage struck Phase 1 of Tsuen Wan Centre on Monday morning, affecting around 1,000 households across five blocks and a care home for people with disabilities. According to a notice issued by the Tsuen Wan Centre Management Services Office on Tuesday morning, electricity [...]

Hong Kong will launch a two-month public consultation on Monday on its first five-year blueprint to align the city’s development with the national plan, Chief Executive John Lee Ka-chiu has announced. Lee said on Tuesday the consultation would begin on June 15, marking what he described as a historic milestone for the city. “The formulation of Hong Kong’s first five-year plan is a historic step and is of great significance,” he said. “We hope to gather everyone’s views, listen to the people and [...]

In my travels around the world, I’m often asked if the best days of Hong Kong are behind us. My answer is always an emphatic “no” – and this is not merely a pep talk. When you step back and take a broad macroeconomic view, it becomes clear that, structurally speaking, our greatest opportunities lie just ahead. While many commentators scramble to draw parallels between Japan’s “lost decades” and China’s economic headwinds, they miss a far more apt and profound comparison: the phenomenon known as [...]