Hong Kong protests

Hong Kong chief bets everything on a losing hand

12 Jun 2019

Carrie Lam plans to fast-track a bill allowing extradition to mainland China, in the face of street protests and strikes. The city will suffer long-term damage. For now, the cost of her battered credibility will be worthwhile policies, including much-needed housing reform.

Hong Kong risks its future as global business hub

10 Jun 2019

New rules allowing extradition to the mainland prompted massive protests on Sunday. If Chief Executive Carrie Lam ignores the message, foreign governments may retract trade agreements and reconsider their relationship with the territory. That would hurt both Hong Kong and China.

Corporate clout on the line in Hong Kong fight

22 May 2019

From Washington to Wan Chai, executives are loudly protesting the city’s plan to allow extradition to mainland China. The business community often gets its way in the financial hub. Losing in this standoff would signify a turning point in Hong Kong for more reasons than one.

Hong Kong fumbles its China extradition fix

21 Mar 2019

The city may exclude white-collar crimes from a mooted deal to exchange suspects with the mainland, to assuage the business community’s concerns. Unfortunately, such an awkward compromise would only confirm the tension between the financial hub’s needs and Beijing’s ambitions.

Hong Kong’s China extradition experiment unnerves

18 Feb 2019

The territory is mulling a way to exchange suspects across the border. With over 1,000 mainland firms listed there, putting CEOs within reach of local courts makes sense. But Beijing’s reaction to U.S. attempts to extradite a Huawei executive suggests the channel might be abused.

Viewsroom: How China changed Hong Kong

6 Jul 2017

It’s 20 years since the British handed the island and adjacent territory back to the mainland. Breakingviews’ Asia columnists explain how Hong Kong’s economy and society have changed and ask whether this once-dominant regional financial center can regain some of its lost luster.

Hong Kong finds Beijing flunking soft-power test

28 Jun 2017

The central government is investing heavily overseas and touting itself as a benign benefactor. But in 20 years it has alienated many Hong Kongers. The bad PR is a blot on China’s image. It suggests Beijing has a lot to learn about winning friends and influencing people.

Breakdown: A graphic portrait of Hong Kong

28 Jun 2017

The city’s fortunes have become ever more entangled with China’s. Breakingviews shows through graphics how the turbulent relationship has shaped the economy and markets, whilst stoking property prices and political tensions.  

Hong Kong’s test-bed role is valuable and fragile

28 Jun 2017

Beijing has gifted the city with schemes linking investors to mainland currency, stock and bond markets. The tightly controlled pilots offer unique access to China. But they could either be swept away by deeper overhauls, or hobbled if the central government retreats on reform.

Time for Hong Kong to steer a new economic course

27 Jun 2017

The fragrant harbour has long been China’s gateway to the world in trade, finance, and much else. Two decades after the handover, some traditional middleman roles are waning. Reinvigorating the economy means playing to existing strengths - and fixing some glaring problems.

Hong Kong market is caught between two worlds

26 Jun 2017

Twenty years of Chinese listings have turned the ex-colony into a $3.7 trln market and a top IPO venue. But valuations are low. And while it has first-world regulations, it cannot effectively police rogue mainland firms. To clean up its act, Hong Kong will need more Chinese help.

Reasons to fret about Hong Kong’s post-2047 future

23 Jun 2017

China’s promise to uphold “one country, two systems” does not expire for three decades. Yet property owners and citizens have little idea of what comes next.  Drastic changes to the legal system are unlikely. Still, there is ample room for a crisis of confidence long before 2047.

Hong Kong needs actual fintech, not just IPOs

22 Jun 2017

The city is trying to lure hot financial technology listings. But it's a slow mover when it comes to mobile payments and e-commerce. In stark contrast with mainland China, much of Hong Kong still shops on foot and pays with paper. That reflects a broader struggle with innovation.

Public housing pressure builds for next HK leader

20 Jun 2017

The city's real estate bubble, buoyed by low rates, limited supply and mainland money, is stoking social unrest. House prices are out of reach for most; rents are punitive. Like prior leaders, Carrie Lam promises more affordable housing. It's better policy that's in short supply.

Hong Kong fights losing battle with property boom

22 May 2017

The territory is trying yet again to cool a red-hot real estate market. New curbs will make home loans less profitable for banks and increase down payments for borrowers. An acute land shortage and Chinese buyers' desire to diversify away from the yuan will limit the impact.

Hong Kong bourse better off without Beijing’s aid

12 May 2017

China could prop up shares before a set-piece presidential visit, a media report says. This is further evidence of Beijing's tightening grip on the city and its belief that market prices are a tool to signal good news. Exporting that attitude will dent Hong Kong's appeal.

Hong Kong’s first female chief starts from behind

27 Mar 2017

Unloved new leader Carrie Lam faces a steep climb. Growth is slow; social divides are deep. Loosening the purse strings might win a few hearts. Her real test will be preserving the rule of law, but she's unlikely to stand up to the pro-Beijing faction she owes her job to.

Enough with Hong Kong market’s dark alleys

24 Mar 2017

Hong Kong is plagued by puzzling share gyrations. On Friday a $5 bln stock crashed 90 pct in minutes. HKEX boss Charles Li reportedly says his market is no casino, even if a few "gangsters" lurk in dark corners. Such complacency will do nothing to reassure investors.

Hong Kong loses its luxury scarcity value

3 Feb 2017

Tourist arrivals from mainland China rose 3.6 pct over the New Year, and Chinese consumer spending is accelerating. If only that were enough for luxury companies who have hung their hat on the city's unique charms. Luxury isn't quite passé, but buyers have moved further afield.

Next HK leader needs Beijing’s help on inequality

26 Jan 2017

The race for Hong Kong's top job is on. Rising inequality and house prices are choking the middle class. It's a ticking social bomb, but Beijing seems focused on stifling local radicals. Empowering a leader to fight vested business interests should be the immediate priority.