Hong kong

Share to Twitter Share to Linkedin Over the next six months, starting in March, the city of Hong Kong will be giving away 500,000 air tickets for free as part of its “Hello Hong Kong” campaign to revitalize its tourism sector. The new global promotional campaign — in the works for more than two years — was launched on February 2 by Hong Kong’s leader, John Lee Ka-chiu, as the city reopens to international travelers. “Hello Hong Kong” is the result of a government relief package that was given to airlines at the height of the pandemic “to ease their liquidity pressure,” according to the Hong Kong Airport Authority. “Hong Kong will pay for your plane ticket to visit in 2023,” boasts the headline in Time Out Hong Kong adding that “the Hong Kong tourist board had announced plans to give away half a million free plane tickets, and now it’s finally, officially happening.” MORE FROM FORBES Ranked: The 32 Best Villages Of The World To Visit … [Read more...] about Want To Visit Hong Kong? Half Million Air Tickets For Free: How To Get Them

(CTN News) – On Friday, China announced it would fully resume cross-border travel between the mainland, Hong Kong, and Macau, dropping existing quotas and eliminating the mandatory COVID-19 test . According to a statement on the website of China’s Hong Kong and Macau Affairs Office, group tours between China and its two special administrative regions would resume, while customs checkpoints would return to pre-pandemic levels. Even though China reopened its borders on January 8 , a quota system and COVID testing requirement remain for travelers between the mainland and Hong Kong. Hong Kong has yet to reopen three of its border checkpoints. As a result of China’s announcement, Hong Kong announced today that it would launch a promotion campaign including 500,000 free flights to attract back visitors, businesses, and investors after more than three years of tough COVID restrictions . A closed border has largely surrounded Hong Kong for most of the past three … [Read more...] about China Announced Cross-Border Travel Between Hong Kong and Macau Will Resume on February 6

Share to Twitter Share to Linkedin Key News Asian equity markets were broadly higher as Taiwan and South Korea outperformed. The European Central Bank (ECB), and the Bank of England (BOE), followed the Fed’s +25bps interest rate hike with a higher, +50bps rate hike, while the Hong Kong Monetary Authority (HKMA) mirrored the US with a +25bps rate hike. Meanwhile, CNY, China’s currency that trades during local market hours, gained +0.27% versus the US dollar to close at 6.72 CNY per USD, while the Asia Dollar Index fell -0.09% versus the US dollar. Shanghai, Shenzhen, and Hong Kong opened higher but slid to close down slightly/mixed on little news. Hong Kong-listed internet stocks were mixed as the Hang Seng Tech Index managed a small gain as Hong Kong’s most heavily traded stocks were Tencent, which fell -0.52%, Meituan, which fell -1.94%, Alibaba, which fell -0.91%, and Baidu, which gained +4.99%, riding the ChatGPT-like AI search announcement and … [Read more...] about CNY Rallies, ECB & BOE Hike Interest Rates

Share to Twitter Share to Linkedin Week in Review Asian equities started the week off lower and then rallied higher in the middle of the week as central bank rate hikes dominated market news, though China maintained its easing stance. January Manufacturing PMI, reported on Monday, was 50.1 versus expectations of 50.1 and December’s 47, while the Non-manufacturing (Service) PMI was 54.4 versus expectations of 52 and December’s 41.6. Both indicated an expansion, which was more pronounced in services. Baidu BIDU announced Tuesday that it would be rolling out a Chat GPT-like AI search feature. China’s currency rallied this week on reopening and an increase in demand for RMB-denominated assets. Friday’s Key News Asian equities had a strong night as India rebounded. Concerns of Adani’s implosion leading to a broader crisis lessened, though Mainland China and Hong Kong underperformed. Asia saw impressive equity performance overnight as Amazon … [Read more...] about Consumer Rebound Rolls On, Week In Review

Share to Twitter Share to Linkedin Key News Asian equities had a strong day following US stocks’ positive move yesterday, with the Philippines having a very strong day in advance of today’s Fed +25 bps rate hikes which will lead the European Central Bank (ECB) to raise rates +50bps, Bank of England (BOE) +50bps, and a whole host of other central banks doing the same tomorrow. Malaysia was closed for Federal Territory Day which celebrates "the formation of the Federal Territory of Kuala Lumpur in 1974” according to Google GOOG . President Xi attended and spoke at the CPC Central Committee which focused on “accelerating the construction of new development pattern” i.e., DOMESTIC CONSUMPTION. I took the artistic license of highlighting where investors should be focused i.e., DOMESTIC CONSUMPTION. The speech also focused on “self-reliance and self-improvement in science and technology”. This was front page news in China AFTER the market close. We are … [Read more...] about President Xi Addresses Domestic Consumption In Speech

SHANGHAI – China’s move this week to streamline stock market listing rules is unlikely to result in a flood of initial public offerings, bankers say, citing the prospect of state intervention on national security and other grounds that would result in delays. Beijing published draft rules on Wednesday to broaden its fledgling registration-based IPO system, expand the U.S.-style mechanism to all corners of China’s stock market in a shift designed to speed up listings and corporate fundraising. Under the new system, China’s stock exchanges will themselves vet IPOs with a focus on information disclosure. Currently, IPOs on China’s blue-chip boards need clearance from the China Securities Regulatory Commission (CSRC) under an approval-based system – one that means long delays and IPO prices capped by the regulators. The reform was hailed by state media and analysts as a key milestone that would make China’s IPO market more inclusive, transparent and efficient. But in reality, … [Read more...] about China’s latest IPO reform seen unlikely to flood markets with new issuance

(CTN NEWS) – SEOUL – The company announced Thursday that singer Jay Park ‘s soju brand Won Soju would be available in New York by the first half of this year as the K-pop star strives for a global expansion of the traditional Korean liquor. The K-pop star and rapper Jay Park’s soju company, Won Spirits Co ., announced that it had satisfied all requirements to export its products to the United States. A form of distilled alcohol created with Korean rice is called soju. Starting this year , three products—Won Soju, Won Soju Spirit, and Won Soju Classic—will be transported to the United States. The label of Won Soju set to be exported to the United States is shown in this rendered image provided by Won Spirits Co. on Feb. 2, 2023. (PHOTO NOT FOR SALE) (Yonhap) It will be the company’s first export since it was founded in February 2022. The company stated that it has completed trademark registration for the name in nations like the European Union, … [Read more...] about Jay Park’s ‘Won Soju’ To Enter American Market This Year

(CTN NEWS) – The Pentagon opted not to shoot down a suspected Chinese Spy Balloon over U.S. airspace for two days owing to hazards to ground personnel, officials said Thursday. The balloon finding exacerbates U.S.-China tensions. The U.S. has “very high confidence” it is a Chinese high-altitude balloon collecting intelligence over key sites, a senior defense official told Pentagon reporters. Montana’s Malmstrom Air Force Base has one of the nation’s three nuclear missile silo fields, where the balloon was sighted. The official discussed critical material anonymously. / AP Pentagon press spokesman Brig. Gen. Patrick Ryder said the administration is tracking the Spy Balloon. He added it is “currently traveling at an altitude much above commercial aviation traffic and does not offer a military or physical threat to persons on the ground.” He noted comparable balloon activity in recent years. He said that the U.S. took precautions to avoid … [Read more...] about Chinese Spy Balloon Spotted Over Western U.S.

Share to Twitter Share to Linkedin Momentum is growing behind a bill in Congress to do what we’ve been arguing for in this column for close to two years, i.e. banning Chinese social media app TikTok. It’s the app that some term China’s “Trojan horse” for inserting Beijing’s control over U.S. user’s data and hearts and minds. At the same time, China’s other social media Trojan Horse, WeChat, and its parent company Tencent, have been getting a lot less attention. When the Trump administration banned TikTok from U.S. markets in 2020—a ban which a federal judge blocked and then the Biden administration reversed—the executive order included another Chinese social media app, WeChat. While not as psychologically menacing as the TikTok app with its invasive ByteDance algorithms, WeChat may pose an even greater danger from the angle that alarmed government officials from the very start, as an app that gives the Chinese government direct access to user data in the US. … [Read more...] about WeChat: China’s Other Trojan Horse

Share to Twitter Share to Linkedin Tourists cruise Bangkok ’s Chao Phraya River to see the gilded wats (Buddhist temples), the opulent Grand Palace and other sights along the historic waterway. But a revitalized destination has emerged along Bangkok’s banks, the Creative District, a lively area full of local cafés, galleries, restaurants and more. Established in 2015, the Creative District flows along the river and spills into the more residential Khlong San neighborhood on the western bank and the buzzing Bang Rak in the east. In 2016, the district held the BUKRUK Urban Arts Festival with international art exhibitions that left their mark throughout the area. Some of the world’s best street artists attended and painted large, bold and vibrant murals on local buildings. The most-photographed work comes from the Portuguese artist Vhils, who employed a unique carving technique to chisel realistic faces on a wall surrounding the Embassy of Portugal. … [Read more...] about Why You Should Visit Bangkok’s Revived Creative District