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Can Hong Kong Become Asia’s Blueprint for Sustainable Urban Growth?
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Can Hong Kong Become Asia’s Blueprint for Sustainable Urban Growth?

From the Northern Metropolis to regional connectivity and future-ready infrastructure, AtkinsRéalis is helping shape Hong Kong’s next phase of urban transformation. [The content of this article has been produced by our advertising partner.] The city’s role is changing. Once defined by its status as a port and a place where the West did business with China, Hong Kong is now expanding its definition of connectivity to include resilience, digital innovation and cross-boundary collaboration. Today, the city offers a highly efficient, well-regulated environment where advanced engineering practices and infrastructure models can be piloted with confidence. “When proven in Hong Kong, these approaches can be adapted and scaled across Asia and beyond,” Law says. This “testbed-to-blueprint” dynamic is central to AtkinsRéalis’s strategy, positioning the city as both a proving ground and a launchpad for scalable solutions across Asia, thereby demonstrating the ability to translate proven delivery in Hong Kong into replicable models for the region. A prime example is the Northern Metropolis, one of the city’s most ambitious long-term development plans.

How China’s brands are thriving in the US despite rising geopolitical tensions
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How China’s brands are thriving in the US despite rising geopolitical tensions

Chinese brands like Pop Mart are winning over American consumers by projecting a global image and targeting niche markets The Cry Me an Ocean plush toys sat as forlornly as their name implied inside the Stoneridge Shopping Centre in the San Francisco suburb of Pleasanton. The Chinese brand Pop Mart had placed a “Robo Shop” vending machine stuffed with the small dolls on a walkway inside the mall, but passers-by barely gave them a second glance. Yet across the country, it was a different story. At Cornell University in Ithaca, New York, Pop Mart is popular enough that a bevy of students has signed up for the recently formed Art and Business Club just for a chance to collaborate with the brand, according to club founder Madeline Wang. While blind-box retail has existed for decades, Pop Mart has taken it “to another level”, Wang said, though she acknowledged that “most people” in the United States might not be fans of the brand’s designs.

Demand for affordable EVs will force open US market to Chinese models eventually: analysts
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Demand for affordable EVs will force open US market to Chinese models eventually: analysts

The pressure is likely to mount after consumers in the two neighbouring markets of Mexico and Canada adopt Chinese EVs Consumer demand for affordable electric vehicles is likely to force open the US market to Chinese electric vehicle (EV) brands within the next few years, even though they currently face trade barriers, according to analysts. US carmakers are expecting the same, with Ford CEO Jim Farley recently predicting the entry of Chinese EVs as early as five years. Farley, one of the most outspoken voices in the US automotive industry on the competitiveness of Chinese EVs, told Ford’s staff two weeks ago that peers from China would likely arrive in “five to 10 years”, and that the company was preparing for this, Reuters reported on July 30. Even if Farley’s remarks were aimed at pushing Ford to double down on EV research and development, it would not be easy for the US to completely block Chinese EVs from the market in future, said Yale Zhang, managing director at the consultancy Automotive Foresight in Shanghai. “[US carmakers] would face complaints from consumers who are supposed to enjoy affordable smart EVs [made by Chinese companies],” Zhang said.

Derelict cinema on scenic Hong Kong island up for auction with a US$1 million price tag
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Derelict cinema on scenic Hong Kong island up for auction with a US$1 million price tag

Peng Chau Cinema was once a bustling nightspot but has lain virtually empty for almost four decades and is now set to go under the hammer Peng Chau Cinema, an Instagrammable spot for tourists on an outlying Hong Kong island, will be auctioned off in mid-August at a valuation 30 per cent below estimation after almost 40 years of abandonment – a dormancy lengthy enough to fuel dark rumours among some residents. The former cinema is currently owned by Far East Hotels and Entertainment Limited, whose major shareholder is Derek Chiu, the sixth son of Deacon Chiu – founder of Far East Consortium. However, the population plummeted as those facilities closed down, and the cinema ceased operations in 1987 after just nine years of business. The main section of the cinema, along with the building’s exterior walls and solar power system, is currently being put up for auction, the handler Memfus Wong Auctioneers told the South China Morning Post. The cinema has a total gross floor area of 907 square metres (9,760 sq ft), comprising 163 square metres on the ground floor, 170 square metres on the cockloft, 472 square metres on the first floor and 102 square metres on the second floor.

Over a quarter of China’s ultra-wealthy concentrated in Beijing and Shanghai: report
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Over a quarter of China’s ultra-wealthy concentrated in Beijing and Shanghai: report

Beijing, Shanghai and Guangdong hold most super-rich households as weaknesses in real estate and market volatility weigh on private capital Chinese megacities are seeing a slight decrease in households with assets of at least 100 million yuan (US$14.8 million), as the country’s private wealth remains concentrated in three places – national capital Beijing, financial centre Shanghai and southern Guangdong province, a technology and export hub. Beijing and Shanghai had a combined 34,700 ultra-high-net-worth (UHNW) households at the start of 2025, accounting for about 27.4 per cent of the countrywide total of 126,500, according to a wealth report jointly released in June by the Bank of East Asia and the Hurun Research Institute. Beijing contained 18,200 UHNW households and Shanghai had 16,500, both lower than a year earlier, as weaker property prices, volatile markets and slower economic growth weighed on household wealth. In China, the distribution of capital highlights three major wealth corridors. The Yangtze River Delta led with 39,680 households, or 31.4 per cent of the national total, supported by Shanghai’s finance sector, Zhejiang’s private and technology firms and Jiangsu’s manufacturing base.

Hong Kong’s US dollar peg explained: history, benefits and risks
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Hong Kong’s US dollar peg explained: history, benefits and risks

As global investors shift away from US dollar assets, Hong Kong is tied to the US dollar to maintain a stable exchange rate As international investors diversify away from US dollar assets and amid the rise of internationalisation of the yuan, there are calls for reviewing the Hong Kong dollar’s peg. Here is what to know about the system. The birth of the peg is closely tied to market uncertainties. The currency was once freely traded and in September 1983 slumped by 48 per cent to a record low of HK$9.60 per dollar when a crisis of confidence occurred as the Chinese and British governments began negotiations for the 1997 handover. Hong Kong pegged its currency at HK$7.80 per dollar on October 17, 1983, under the Linked Exchange Rate System, in order to stop the swing. A trading band was then introduced in May 2005 to allow the local currency to swing between HK$7.75 and HK$7.85. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, will intervene in the market to ensure the currency trades within the range.

Meet the next generation of Chinese stars influencing how global finance operates
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Meet the next generation of Chinese stars influencing how global finance operates

New finance talent brings analytical discipline and cross-cultural fluency across global asset management, crypto and quant trading That shift is easier to grasp by looking beyond the Ivy League feeder pipelines to the mathematical boot camps of Shenzhen and the lecture halls of Guangxi Zhuang Autonomous Region. The careers of these figures – Tian Zhou, Wei Li, Katherine Wu and Han Jiarui – exemplify how Chinese talent has climbed into senior roles across hedge funds, asset management, and crypto. In July 2026, eFinancialCareers listed the top 13 London hedge fund partners under 35, based on data from Companies House, the UK agency that maintains the register of companies. Tian Zhou’s name and age stood out. Zhou’s story began far from the prestigious halls of the US Ivy League universities. He started at Guangxi University, a regional school in southern China, throwing himself into electrical engineering and English with the intense discipline that would define his career. That grit powered his transfer to Central Michigan University, where he double-majored in electrical engineering and mathematics, graduating with a perfect 4.0 grade point average and summa cum laude honors.

Buyer linked to Ningbo’s richest family purchases Hong Kong trophy home for US$18.5m
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Buyer linked to Ningbo’s richest family purchases Hong Kong trophy home for US$18.5m

Deal adds to signs of mainland Chinese wealth entering the city’s high-end residential market despite a slowdown in overall activity Wu Xiaoming agreed to buy a home at Villa Lucca, 7 Lucca Avenue, on July 17 under an off-plan agreement for sale and purchase, Land Registry records showed. The four-bedroom stand-alone garden house has a saleable area of 5,281 sq ft, implying a price of HK$27,571 per square foot. Wu is a director of Mecca International Holding (Hong Kong), according to Companies Registry records. Wu Xiaoming was appointed a director of the Hong Kong company in 2018, replacing Wu Jianshu as the first-named director, records showed. The transaction adds another link between Ningbo capital and Hong Kong property.

Beijing says 20% offshore insurance tax not new – and does not target Hong Kong
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Beijing says 20% offshore insurance tax not new – and does not target Hong Kong

Beijing urged the market not to overreact to the policy – which it stressed was not new – after reports of the tax triggered a sell-off in Hong Kong China’s State Taxation Administration (STA) on Friday clarified that the 20 per cent personal income tax imposed on gains from offshore insurance policies was not a new policy – and was not specifically targeting the Hong Kong insurance industry. The STA urged the market not to overreact to the policy, according to an unnamed official quoted by Shanghai-based digital media outlet The Paper on Friday. The STA official said mainland tax residents had always had the duty to pay tax on all gains they received globally – including dividends and other returns arising from their overseas insurance policies – in line with international practices. “This was not a new policy and was also not a policy targeting the Hong Kong insurance market,” the official told The Paper, adding that taxes also applied to “a lot of items other than insurance policies”. “All overseas insurance gains or other investment earnings, regardless of which countries or jurisdictions they come from, should be reported for tax filing and made according to the rules.”

As US-China pharma rivalry heats up, can Hong Kong’s US$8b fund be the global bridge?
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As US-China pharma rivalry heats up, can Hong Kong’s US$8b fund be the global bridge?

Hong Kong Investment Corporation is stepping up its efforts to position itself amid Beijing’s challenge to US pharmaceutical dominance Hong Kong is stepping up its efforts to invest in a cluster of biotech companies, positioning itself as a linchpin in Beijing’s push to reach new levels of innovation and challenge the United States for dominance in the global pharmaceutical market. “We have a pretty diversified portfolio covering upstream [to] downstream [of the full healthcare value chain], including Chinese medicine, Western medicine, [products] ranging from prevention, diagnostic treatments and [surgical] operations,” HKIC CEO Clara Chan Ka-chai said at the Global Health Summit in Hong Kong on Friday. She added that HKIC has been linking AI and large language model firms with drug discovery companies in its portfolio, making the process of finding new medicines “cheaper, faster and better”. HKIC has invested in more than 200 companies “covering high growth, high impact sectors, including biotech and health tech”, Chan said at the event, adding that the internal rate of return on the portfolio since its inception was 14 per cent as of end-2025.

Hong Kong’s Hang Lung Properties names former Starbucks China head Leo Tsoi as new CEO
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Hong Kong’s Hang Lung Properties names former Starbucks China head Leo Tsoi as new CEO

Tsoi’s appointment marks Hang Lung’s first CEO change since Adriel Chan took over from his father Ronnie Chan as chairman in 2024 Tsoi will join Hang Lung Group and Hang Lung Properties on September 7 as CEO-designate and executive director ahead of formally assuming the CEO role on October 1. He succeeds Weber Lo Wai-pak, who retires on August 31 after serving as CEO for eight years, the developer said in a statement on Friday. Tsoi, 56, has more than three decades of experience in retail and business management in Asia. He currently serves as CEO of Toys ‘R’ Us Asia, where he expanded the brand’s appeal to the “kidult” segment, and revived business growth across China and Southeast Asia, according to Hang Lung. Prior to this role, he headed Starbucks China as CEO after holding several senior leadership positions in the US coffee giant. Earlier in his career, Tsoi “built a strong leadership foundation” at PepsiCo and Procter & Gamble Greater China, Hang Lung said.

Hong Kong’s US dollar peg faces fresh calls for review – but is change feasible?
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Hong Kong’s US dollar peg faces fresh calls for review – but is change feasible?

Economists and financial analysts warn abandoning the anchor would pose risks that far outweigh potential rewards The Hong Kong dollar’s four-decade-old peg to the US dollar is facing fresh calls for review, after a local financial industry body urged greater use of the yuan and floated the idea of shifting to a basket of major currencies and gold – though financial analysts argue the current system is likely to remain in place. The proposal to revisit the pegged exchange rate system was submitted this week by the Hong Kong Securities and Futures Professionals Association (HKSFPA), as the government gathers public feedback for its first-ever five-year plan. “The peg to the US dollar cedes control over local monetary policy to the US Federal Reserve,” the association noted, citing financial pressure on local homebuyers and small businesses during recent rate-hike cycles. “If Hong Kong clings to the old regime, any major dollar volatility or credit crisis would leave the Hong Kong dollar with no buffer, severely impacting financial markets, property prices and citizens’ retirement savings.”