Hong kong world

C hinese President Xi Jinping said Hong Kong had “risen from the ashes” after several severe challenges, as he arrived in the city on Thursday to celebrate the 25th anniversary of Hong Kong’s ​​handover from British to Chinese rule. “Facts have proved that ‘one country, two systems’ has strong vitality. It can ensure Hong Kong’s long-term prosperity and stability, and safeguards the well-being of Hong Kong compatriots,” Xi said. July 1st marks the halfway point of Beijing’s 50-year promise to maintain Hong Kong’s governance model under “one country, two systems”—a pledge that was intended to guarantee the city would retain its capitalist system and the same freedoms that had enabled it to become an economic powerhouse under 156 years of colonial rule. But China has already breached that agreement multiple times, according to the U.K., and Hong Kong is now experiencing an exodus of businesses and people as Beijing continues to tighten its grip on local affairs—even … [Read more...] about Hong Kong’s 25 Years Under China: Business Appeal Suffers Amid Diminishing Freedoms

Share to Twitter Share to Linkedin Chinese President Xi Jinping repeatedly emphasized the advantages of the “one country, two systems” governance model, saying its success has been widely recognized by the international community as he presided over the swearing-in ceremony of Hong Kong’s new Chief Executive John Lee. In a landmark speech marking the former British colony’s 25th year under Chinese rule, Xi said, “There is no reason to change such a good governance model, which must be adhered to over the long run.” The Chinese President also praised Hong Kong for its freedom and openness, and said the Asian financial hub had created a world-class business environment. Hong Kong has won the fight over “winds and storms,” and is steadily striding forward, Xi said. The international financial crisis, Covid-19 outbreaks as well as violent social unrest haven’t stopped the city from its progresses, he added. The speech echoed Xi’s remarks delivered … [Read more...] about Chinese President Xi Jinping Praises ‘One Country, Two Systems Success As He Swears In New Hong Kong Leader

Hong Kong’s incoming and outgoing leaders attended a flag-raising ceremony at the Golden Bauhinia Square in Wan Chai on Friday to mark the 25th anniversary of the city’s return to Chinese rule. Carrie Lam Cheng Yuet-ngor, whose five-year term expired on Thursday, showed up alongside her husband, joined by incoming chief executive John Lee Ka-chiu and his wife. Other participants included local and state officials. Amid strong winds and a No 3 typhoon warning signal in force, some 200 to 300 guests attended the ceremony. They included former chief executives Leung Chun-ying and Donald Tsang Yam-kuen, the Chinese foreign ministry’s Hong Kong commissioner Liu Guangyuan, lawmakers and members of the new term of the Executive Council. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. … [Read more...] about Hong Kong’s former, incoming leaders attend July 1 flag-raising ceremony, Xi Jinping oversees swearing-in of John Lee

Share to Twitter Share to Linkedin Want to be neighbors with billionaire Li Ka-shing, who ranks as #37 on Forbes Billionaires? Perhaps you should move to Shouson Hill, one of Hong Kong’s most exclusive neighborhoods where several influential wealthy individuals, including Ka-shing and the co-founders of Alibaba, call home. In fact, this neighborhood just experienced the most expensive residential real estate transaction just days ago. No. 15 Shouson broke this year’s sales price record when House 7 within the development sold for $111 million. Co-developed by Emperor International Holdings Ltd., CC Land Holdings Ltd., Mingfa Group International Co., and CSI Properties Ltd., the home spans 8,032 square feet and has six bedrooms, a swimming pool, private garden, elevator, and parking space. It’s located on the southern side of Hong Kong Island, home to many tycoons and wealthy business people. The buyer hasn’t been identified. No. 15 Shouson contains 15 … [Read more...] about A Hong Kong Mansion Just Sold For $111 Million, Breaking This Year’s Sales Price Record

The Yomiuri Shimbun TOKYO –The arrival of foreign visitors to Japan is becoming more conspicuous, with the first tour group from Hong Kong landing at Narita Airport on Wednesday since the government reopened the borders to such tourists on June 10. Registering with the government’s Entrants, Returnees Follow-up System and acquiring a visa are required to enter Japan for tourism purposes. As of Tuesday, more than 2,800 people have been registered with ERFS. The 10 visitors from Hong Kong were given a hearty greeting when they appeared at the international arrival lobby of the airport shortly after 4 p.m. About 30 people including employees from ANA wearing happi festival coats welcomed the tour group with a panel reading, “Welcome to Japan.” The group is scheduled to visit Hokkaido and Tokyo during the 7-day, 6-night tour. One of the visitors, a 23-year-old university student who had visited Japan four or five times a year before the coronavirus pandemic, said she wanted to … [Read more...] about Influx of visitors to Japan continues with 1st Hong Kong tourists since borders reopened to tour groups

(FILES) In this file photo taken on June 14, 2022, an aerial view of Hong Kong’s Jumbo Floating Restaurant, an iconic but aging tourist attraction designed like a Chinese imperial palace, being towed out of Aberdeen Harbor. – Hong Kong’s Jumbo Floating Restaurant, a famed but aging tourist attraction that featured in multiple Cantonese and Hollywood films, was towed out of the city after the COVID-19 pandemic finally sank the struggling business. (Photo by Peter PARKS / AFP) HONG KONG — Mystery over the fate of Hong Kong’s Jumbo Floating Restaurant deepened Friday after its owner stirred confusion over whether the financially struggling tourist attraction had actually sunk while being towed away from the city last week. On Monday Aberdeen Restaurant Enterprises released a statement saying the vessel had capsized on Sunday near the Paracel Islands in the South China Sea after it “encountered adverse conditions” and began to take on water. “The water depth at the scene is over … [Read more...] about Mystery deepens over fate of Hong Kong’s Jumbo Floating Restaurant

People wearing face masks sit at the seaside nearby Victoria Harbour, after the government eased the coronavirus disease (COVID-19) restrictions on businesses, in Tsim Sha Tsui district in Hong Kong, China, April 21, 2022. REUTERS HONG KONG — Hong Kong reported more than 2,000 new coronavirus infections on Wednesday, the highest since April, as daily COVID-19 cases rise ahead of celebrations to mark the city’s 25th anniversary of its handover to China. RELATED STORIES Hong Kong questions costs of COVID-19 rules on mental health, livelihoods China’s widening COVID-19 curbs threaten global supply chain paralysis Tough COVID-19 restrictions curb Hong Kong’s ambition to become green investment hub Hong Kong reports record 26,026 daily COVID-19 cases Subscribe to our daily newsletter For more news about the novel coronavirus click here. What you need to know about Coronavirus. The Inquirer Foundation supports our healthcare frontliners and is … [Read more...] about Hong Kong daily COVID-19 cases rise above 2,000, highest since April

HONG KONG, June 22 (Xinhua) -- The Hong Kong Palace Museum (HKPM), located in the West Kowloon Cultural District of the Hong Kong Special Administrative Region (HKSAR), held its opening ceremony on Wednesday. The ceremony was co-organized by the HKSAR government and the Chinese Ministry of Culture and Tourism. Carrie Lam, chief executive of the HKSAR, said the establishment of the HKPM is intertwined with the unique advantages of Hong Kong under "one country, two systems." The HKPM is also intertwined with the full support rendered by the central government for Hong Kong and its affection for the people of Hong Kong, as well as with the trust that the Ministry of Culture and Tourism, the National Cultural Heritage Administration and the Palace Museum have in Hong Kong, Lam told the opening ceremony. Lam believes that the HKPM will certainly become a must-visit destination for overseas travelers in the future, showing the world the long-standing and enduring spirit of the … [Read more...] about Hong Kong Palace Museum holds opening ceremony

Charles Li, CEO of Hong Kong Exchanges and Clearing Limited, speaks at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in New York - A + A HONG KONG (June 27): In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system. Twenty-five years later, Hong Kong has so far retained its status as a financial hub, and some of the city's top executives are banking on a bright future as the territory remains a crucial springboard for investment into mainland China. Charles Li, former chief executive of bourse operator Hong Kong Exchanges and Clearing (HKEX) and founder of microfinance platform Micro Connect, said that although he believes the next 25 years will be "very different", he's optimistic. "I'm convinced that the overall prosperity of Hong Kong will remain as strong as before because Hong Kong retains its value to both … [Read more...] about Hong Kong’s top finance executives bank on city to thrive as gateway to China

The Star Cruises Jetty in Langkawi, Kedah. - A + A PETALING JAYA (June 29): Genting Hong Kong Ltd has disclosed the plan to dispose of Star Cruises Jetty in Langkawi, Kedah as part of the company’s restructuring plan. Due to the direct impact of the lockdown and its disastrous impact on the hard battered hospitality and leisure cruise industry, the Hong Kong-listed company is currently under restructuring. According to a press statement Wednesday (June 29), it has put the asset in the market for sale via an international expression of interest undertaken by marketing agent Nawawi Tie Leung, in collaboration with their counterparts Hilco Global Ltd of Hong Kong and Edmund Tai (SEA) Singapore. “With the opening up of cross border restrictions and the recovery of the cruise and tourism industry, we expect that there will be keen interests from regional industry players, as well as niche infrastructure funds that would be looking at this rare opportunity to acquire … [Read more...] about Genting Hong Kong to sell Star Cruises Jetty