All coverage of Hong Kong, ranked by recency.
United States Trade Representative Jamieson Greer said on Thursday that there is no timeline yet for implementing the US-China Board of Trade, one of the key economic outcomes of Chinese President Xi Jinping’s state visit to Washington last week. Speaking on the sidelines of the Group of 20 Trade Ministers’ meeting in Milwaukee, Wisconsin, Greer said the tariff reductions under the mechanism we...
Canada will fast track the approval process for a new proposed crude oil export pipeline to its west coast that could generate over C$20 billion (US$14 billion) a year in GDP, Prime Minister Mark Carney said on Thursday. The pipeline, which was announced in July, is a crucial part of Carney’s bid to diversify the economy away from the United States and help lessen the effect of US President Do...
The number of people applying for US unemployment benefits dipped last week to the lowest level since mid-July as lay-offs remain low and most American workers enjoy job security. The Labor Department said on Thursday that initial jobless claims ticked down to 197,000 from a revised 198,000 the week before. The four-week average of claims, which smooths out week-to-week volatility, dropped by 2...
In April last year, Brussels launched an obscure “import surveillance task force” to track the impact of US President Donald Trump’s trade war with China on the EU economy. The bloc was concerned that Chinese shipments bound for the United States would be diverted to Europe at lower prices, imperilling local manufacturers. Eighteen months on, the European Union is on the cusp of its own trade w...
Hong Kong’s health minister has warned that the city will need to “bear the consequences” of exaggerating concerns over the employment prospects of nurses, as such remarks could deter new blood from joining the profession. “I do not want recent comments, such as claims that ‘[nursing] graduation equals unemployment’, to dampen the interest of our younger generation in joining the nursing profes...
Chinese automotive groups have cause to celebrate their go-global strategy amid breakneck export growth in recent years, with deliveries in 2026 expected to beat expectations already buoyed by an international energy shock caused by conflict in the Middle East. Leading carmakers from BYD to Chery Automobile have doubled down on overseas expansion, with some evolving into powerful contenders in ...
Huawei Technologies is making rapid progress in rolling out a new breed of advanced chip based on its self-developed Tau Scaling Law, with the Chinese company set to adopt the processors across the newly released Mate 90 smartphone series. The roll-out marks another step forward in the Chinese tech giant’s push to overcome stringent US export curbs, which has seen Huawei rewire its smartphone b...
China will charge an extra 55 per cent tariff on Brazilian beef from Thursday after Brazil filled its import quota for the year and has not agreed to let Brazilian exporters use the unfilled quota of neighbouring Uruguay, industry sources said. The Chinese Ministry of Commerce announced the surtax on Wednesday, a day after China’s customs administration confirmed that Brazil had used all of its...
For years, Chinese manufacturers have viewed Southeast Asia as a way to reduce exposure to higher US duties on goods made in China. But a new round of tariff cuts proposed by Washington and Beijing could weaken that incentive for some products, potentially changing the economics of the strategy. Under the new US-China Board of Trade, more than 90 per cent of Chinese products on a list of goods ...
Chinese President Xi Jinping projected a message of confidence about the country’s ability to overcome challenges during his annual National Day address, issuing a rallying call for robust economic growth and more certainty amid geopolitical complications. Xi’s address, delivered at a state reception in Beijing on Wednesday evening to mark the 77th anniversary of the founding of the People’s Re...
A hunger crisis could creep up on Southeast Asia if the region does not guard against export restrictions amid a fertiliser shortfall, International Chamber of Commerce (ICC) Secretary General John Denton has warned. On the sidelines of the Future of Trade Forum in Singapore on Wednesday, Denton urged the city state, as the next Asean chair, to prioritise the “sleeper issue” for the region. He ...
Chinese artificial intelligence start-up DeepSeek on Wednesday open-sourced a suite of core tools tailored for Huawei Technologies’ Ascend AI chips, marking a step forward in the country’s push to end dependence on processors from US giant Nvidia amid US export curbs. Hangzhou-based DeepSeek released six software modules that mirror its prior open-source tools for Nvidia’s AI chips, aiming to b...
For the first time, China’s spending on research and development as a share of gross domestic product has surpassed the average for Organisation for Economic Cooperation and Development (OECD) members – a trend one analyst expects to continue as Beijing seeks to strengthen technological self-reliance amid intensifying global competition. R&D expenditure exceeded 3.92 trillion yuan (US$584.8 bil...
Hong Kong authorities have defended its policies on hiring non-locally trained nurses, saying that they are “very small” in number following complaints about the import of non-local workers causing unemployment. The government said in a statement on Tuesday that Hong Kong’s public hospitals have always prioritised the hiring of locally trained professionals. Nurses at the Children’s Hospital. P...
Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war. The Conference Board said Tuesday that its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That is the lowest reading in the board’s survey since April 2014 and below the lowest level r...
