Month: May 2023

May 30 2023

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HK$2,000 Hong Kong consumption vouchers to be handed out on July 16 to eligible residents

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Hong Kong will release the remaining HK$2,000 worth of consumption vouchers on July 16, Financial Secretary Paul Chan announced at a Monday press conference. Meanwhile, Ricky Chong, principal …

May 30 2023

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HMRC giving Hong Kong refugees’ financial details to China

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The UK tax department has been urged to stop sharing information with China after an investigation found that critics of the country’s authoritarian regime are having their personal details shared...

May 20 2023

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China’s economy is growing again. So why are investors getting out?

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Chinese shares were among the best-performing in the world over the previous six months as investors bet on the country’s economic recovery after the lifting of pandemic restrictions.

May 16 2023

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Big banks still operating in Hong Kong are playing a dangerous game

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The Chinese government has forced banks to deny Chinese emigrants access to their retirement savings. What Beijing will demand next is anybody’s guess.

May 15 2023

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Hong Kong rethinks proposed severance fund savings account for employers

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Labour minister Chris Sun says government has commissioned study into dropping proposal as current insolvency fund sufficient safety net for workers Administration fee for running designated accounts …

May 10 2023

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Hong Kongers fleeing China’s crackdown denied pension savings

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Under the rules of Hong Kong’s compulsory pension scheme, Chan, 40, would normally be entitled to withdraw his savings early as someone who has permanently departed the city.

May 05 2023

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Hong Kong to abolish ‘offset scheme’ for MPF

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Starting May 2025, employers in Hong Kong will no longer be allowed to use their employees’ pension funds to cover severance (SP) and long-service payments (LSP), according to Chief Executive...

May 03 2023

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Hong Kong to officially end MPF offsetting mechanism in May 2025

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The move comes almost a year after the city’s Legislative Council passed a law last year to scrap the so-called offsetting mechanism. Hong Kong Chief Executive John Lee announced late...

May 02 2023

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Hong Kong workers still left to hope for fair deal as Labour Day passes

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Despite some good news, too many people continue to struggle to survive or achieve a better standard of living in increasingly expensive Hong Kong Hongkongers marked the first post-Covid Labour...

May 02 2023

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Hong Kong unions blast ‘late’ scrapping of MPF mechanism as employers call for more subsidies to help cover extra costs

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Large gap’ between introduction of bill and May 2025 implementation date, says Jenny Tam of Federation of Hong Kong and Kowloon Labour Unions Legislator Peter Shiu, of the pro-business Liberal...