The Chinese mainland will increase the luggage duty-free allowance for residents entering from Hong Kong and Macao Special Administrative Regions (SARs), according to a notice issued by mainland departments on Friday. This move aims to further boost the retail and tourism market for Hong Kong and Macao as regional integration progresses. Increased Duty-Free Allowance Starting...
Apple’s much-anticipated augmented reality (AR) device, the Vision Pro, officially launched in China on Friday, marking a significant milestone as one of the first countries outside the US to receive the product. Chinese consumers have shown a strong interest, reflecting the country’s growing enthusiasm for cutting-edge technology. In a bid to capture the Chinese market...
As of 4 pm on Wednesday, over 700,000 people in East China’s Anhui Province have been impacted by severe rainfall, according to local emergency management authorities. The deluge has necessitated the relocation of 177,000 residents. Rainfall and Impact Heavy to torrential rain battered the mountainous regions of southern Anhui from 6 pm on Tuesday to...
A delegation of enterprises from the United Kingdom, organized by Hong Kong and Shanghai Banking Corporation (HSBC), visited Wuxi, Jiangsu province. Du Xiaogang, Party secretary of Wuxi, welcomed the delegation, including Sir Sherard Louis Cowper-Coles, chairman of the China–Britain Business Council (CBBC). Du Xiaogang expressed gratitude to the CBBC and HSBC for their continued support...
Chinese chipmaker SMIC has achieved a significant milestone, ranking as the world’s third-largest foundry by sales in the first quarter of 2024. SMIC Achieves Milestone as World’s Third-Largest Foundry against the backdrop of ongoing US trade restrictions. The Shanghai-based company captured 6% of the global chip foundry market share according to a report by tech research firm Counterpoint. Industry leaders TSMC of Taiwan and...
China’s economic performance in the first quarter of 2024 surpassed expectations, with GDP growth reaching 5.3%. This positive momentum puts the country on track to achieve its annual target of around 5% growth, despite ongoing headwinds. Economists polled by Wind had previously predicted a more modest increase of 4.9%. This stronger-than-anticipated performance underscores a pick-up...
China’s auto industry kicked off 2024 with positive momentum, recording an 11.1% year-on-year increase in total vehicle sales to nearly 4.03 million units in the first two months, according to data from the China Association of Automobile Manufacturers (CAAM). This growth was mirrored in production, with auto output climbing 8.1% year-on-year to 3.92 million units...
Hong Kong’s “Top Talent Pass Scheme” is attracting high-skilled professionals with lucrative salaries, but questions linger about its long-term sustainability. Launched in December 2022 to counter emigration and bolster growth, the scheme boasts impressive initial results. The program has attracted over 70,000 applications, with nearly 79% approved and 73% already arriving in the city. These...
Hong Kong’s bankers enjoy significantly higher salaries compared to their counterparts in Singapore. A recent report by Bloomberg Intelligence revealed that Hong Kong-based investment banking analysts earn an average of 46% more than their peers in the Lion City. This trend extends to associates, who command nearly 36% higher salaries in Hong Kong. Several factors...
Shenzhen welcomed a phenomenal 9.38 million visitors during the recent eight-day Spring Festival holiday, showcasing a remarkable 79% increase compared to the previous year. This influx signifies a significant rebound in travel enthusiasm following the pandemic’s disruptions, revitalizing the city’s transportation network and local economy. Departure figures mirrored the arrival boom, with a 42% year-on-year...