China’s Taxman May Axe HK Economy

China’s Taxman May Axe HK EconomyHong Kong’s economy, already looking a little wobbly, could suffer a major blow if China is serious about cutting down on tax-dodging. With capital flowing out and debt problems mounting, Beijing has both economic and political reasons to clamp down on the use of the territory for re-invoicing of trade transactions. This not only is…

Can Food Trucks Replace Hong Kong’s Dai Pai Dongs?

Can Food Trucks Replace Hong Kong’s Dai Pai Dongs?With Hong Kong’s dai pai dongs – open-air food stalls – all but driven from the city by inheritance restrictions, the government is trying to replace them with food trucks, the brainchild of Financial Secretary John Tsang. Over the weekend, in an effort to jumpstart the phenomenon, the Food Truck Hong Kong Festival took to…

Hong Kong Now Wants Silence from Business Critics

Hong Kong Now Wants Silence from Business CriticsOn March 31, the Appeals Tribunal of the Hong Kong Securities and Futures Commission fined Moody’s Investor Services HK$11 million for what the tribunal claimed were inaccuracies in a 2011 report entitled “Red Flags for Emerging-Market Companies: A Focus on China.” The assault on Moody’s is the latest indication that freedoms in Hong Kong are…

South Africans Want Arms Factory in Hong Kong

South Africans Want Arms Factory in Hong KongMystery surrounds a series of reports in defense magazines that the state-owned South African weapons manufacturer Denel is teaming up with a Hong Kong-based defense equipment manufacturer to establish a “military factory in Hong Kong as a springboard into the Asia-Pacific market.” According to a Defense News article on Feb. 14, Denel and its joint…

China SOEs Snap Up Overseas Chinese Media

China SOEs Snap Up Overseas Chinese MediaChinese state-owned enterprises are extending their tentacles ever deeper into the overseas Chinese media, including in Hong Kong. In a move that should be a worry in Malaysia as well as in Hong Kong, the Malaysian timber barons who control Hong Kong-and-Malaysia listed Media Chinese International have entered into a provisional agreement to sell their…

The Recipe For Chinese Family Business Failures

The Recipe For Chinese Family Business FailuresFor 77 years, since 1938 when it was a lowly dai pai dong – a sidewalk food stall in Hong Kong’s Tsuen Wan district -- Yung Kee Restaurant’s roast goose has been one of the territory’s most famous dishes – and the restaurant one of its most renowned assets. Yung Kee, populated with ill-tempered and…

A Tour Around Asian Stock Markets

A Tour Around Asian Stock MarketsThe end of 2015 is nigh and as investors look, as ever, to better things in 2016 it is worth looking at where the best and worst places have been in Asia since Jan.1 this year, and where the markets go in 2016. Are the year’s worst performers poised for a rebound? Or will we…

Hong Kong Prudence Down the Toilet

Hong Kong Prudence Down the ToiletThe Hong Kong government’s former reputation for fiscal prudence and good budget management is in ruins. The latest bail-out plan for its Mass Transit Railway Corporation entails not only throwing another HK$19.6 billion of public money at the quasi-public rail and property development company but rewarding its shareholders for the company’s incompetence. Despite needing this…

Ireland Opens Hong Kong Consulate

Ireland Opens Hong Kong ConsulateOn Sept. 18, an Irish cabinet member will open the country's first consulate-general in Hong Kong, both a reminder of the deep Irish historical footprint in the city and a sign of the country's booming relationship with China. Richard Bruton, Minister of Jobs, Enterprise and Innovation, and Financial Secretary John Tsang is to open the…

Hong Kong Taxis Uber Alles

Hong Kong Taxis Uber AllesThe arrest of drivers working for the Uber taxi app operation in Hong Kong is further evidence of the grip that monopolists and oligopolists have on the territory’s government. Uber was initially welcomed by the authorities, with the government agency InvestHK, which encourages entrepreneurial investment, giving publicity to the local launch of the service.  However,…
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