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Hong Kong

Hong Kong Customs smash two counterfeit cosmetics rings


Hong Kong Customs officers have smashed two counterfeit-cosmetics rings selling makeup and skincare products. In a five-day-long anti-counterfeiting operation last week, 12 people were arrested after seven retail stores and three warehouses were raided across the territory. Some 6400 items of suspected counterfeit cosmetics were seized with a market value estimated at HK$590,000. The raids followed routine patrols where Customs ... Read More »

Hong Kong millionaires moving cash to Singapore as political crisis lingers


Private bankers are being flooded with inquiries from investors in Hong Kong who are worried about the long-term effects of the political crisis in the Chinese city. While the Hong Kong government has shelved the controversial law that sparked the latest round of unrest — one that would have allowed criminal suspects to be transferred to the mainland for trial ... Read More »

Business leaders discuss future of start-ups at Hong Kong tech conference


HONG KONG,: RISE Tech Conference 2019, one of the largest technology meetings in Asia, ended here Thursday, as over 350 speakers discussed topics related to the development of innovation and technology, including the sustainability of new start-ups. Over 350 speakers from around the world, including corporate leaders, start-up founders, and investors, gathered in Hong Kong to join the four-day meeting ... Read More »

Drug dealers offering free travel and quick cash to lure young Hongkongers into trafficking cocaine


Free international travel and quick cash is being used by drug dealers to lure young summer jobseekers into narcotics trafficking, leading Hong Kong law enforcers to issue an alert to teenagers. Customs warned young people looking to earn money over the coming school holidays to be vigilant after the arrest of four residents, including two students, in an operation against ... Read More »

Hong Kong port tug operator invests in new high-spec tugs


Two new tugs are designed to handle the bigger container vessels now increasingly calling the port of Hong Kong. They also have capabilities for handling liquefied natural gas carriers in anticipation of the city’s new LNG plant going into operation Read More »

Hong Kong’s prosperity can counter US meddling


There are varied understandings of Hong Kong’s prosperity, and even local residents have hugely diverging views on it. From the standpoint of public policy, Hong Kong, a special international financial hub and free port under the sovereignty of China, essentially relates its prosperity to a collective consensus of the city’s stakeholders – Hong Kong residents, investors from outside the city, ... Read More »

Business fears for Hong Kong as protests turn violent


Hong Kong : Violent demonstrations Monday that saw protesters vandalize Hong Kong’s main government complex have drawn a swift condemnation from business leaders worried about damage to the city’s reputation. Hong Kong prides itself on being an international financial hub, a safe and stable place where foreign companies and investors can do business. Its status as Asia’s top financial center ... Read More »

Israel, Hong Kong Agree to Ease Export-Import Process


Israel has signed a new agreement with Hong Kong, intended to ease customs clearance regulations for export and import between the two. The agreement was signed over the weekend at an annual event of the World Customs Organization in Brussels. According to the agreement, authorized economic operators (AEOs) — goods movers approved by a national customs administration — on both ... Read More »

MetLife to sell Hong Kong insurance business to FWD


HONG KONG (Reuters) – U.S. insurer MetLife Inc (MET.N) will sell its Hong Kong operations to FWD, the insurance firm owned by tycoon Richard Li, the companies said in a joint statement on Friday, without disclosing financial details. The deal is the latest in a series of acquisitions FWD has made in the region, and comes after MetLife shelved an ... Read More »

A tax-dodging gang was using speedboats to smuggle tonnes of fish into mainland China


Hong Kong customs has seized more than five tonnes of coral groupers from a cross-border smuggling ring, in what a senior officer described as the biggest seizure of its kind in the city. Eight people were arrested for their alleged role in the syndicate, which used speedboats to carry huge quantities of fish into mainland China, seeking to evade hefty ... Read More »

Big data helps detect fake goods being sold online in Hong Kong


Customs officials are using big data to help detect fake goods being sold online in Hong Kong. During a 12-day operation codenamed Eagle Web which ended yesterday, Hong Kong Customs officers seized 236 items of suspected counterfeit clothing, shoes and handbags with an estimated market value of about $110,000. The goods were all being sold by shops using promotions on ... Read More »

Hong Kong teeters on edge of US sanctions


Hongkonger Hendrick Lui believes the United States should slap sanctions on those responsible for cracking down on recent mass protests against controversial legislation that aims to allow for criminal suspects to be extradited and tried in mainland China. Lui was among hundreds of mostly young demonstrators involved in a June 21 sit-in at the city’s Legislative Council (Legco) building and ... Read More »

The ASEAN-Hong Kong China Free Trade Agreement and Vietnam


The ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) came into effect on June 11 for Vietnam, Laos, Myanmar, Singapore, and Thailand. The remaining ASEAN member states will complete the ratification process later this year. The deal was first signed and agreed in November 2017 to increase economic cooperation, reduce taxes, and increase investment between regional markets and Hong Kong. Analysts ... Read More »

Customs officials seize stash of fake iPhone components in Hong Kong


$120,000 of knockoff parts for iPhones and other handsets have been seized by customs officials in Hong Kong. The parts were being used to repair handsets sent in from countries including the United States, U.K. and Australia. The director and manager of the company were arrested during a raid on the company’s offices in the city of Tuen Mun. The ... Read More »

Apple iPhone and Samsung fakes among HK$1 million counterfeit haul seized in raid on Hong Kong repair shop


A Hong Kong repair shop accused of using counterfeit parts to fix broken devices such as Apple iPhones for international clients has had HK$940,000 (US$120,000) worth of fake goods seized in a raid, customs officials said on Wednesday. The director and manager of a local company running the operation were arrested around lunchtime on Tuesday, when customs officers raided an ... Read More »

Alibaba reorganises ahead of planned Hong Kong listing


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Hong Kong Had the Seeds of Democracy Sowed but Lacks the Tools to Reap Them


“So it was the Chinese who had to pay for the catastrophe that had befallen their country,” observed Neel Rattan Halder, the real and fictional character of Amitav Ghosh’ Ibis trilogy, while analyzing the infamous 1842 Treaty of Nanking based on which the island of Hong Kong was ceded in perpetuity to Great Britain. Later, in 1898, additional new territories ... Read More »

Hong Kong extradition row: Will it damage its star status?


Changes to Hong Kong’s extradition law could hurt the autonomy that has made it one of Asia’s main financial hubs. The government is seeking to allow extraditions to mainland China, saying it makes sure Hong Kong remains a “safe city for residents and business”. The proposed changes led to widespread protests in Hong Kong this week and sparked some of ... Read More »

Proposed extradition bill could get Hong Kong entangled in the US-China tussle, research firm says


Hong Kong runs the risk of losing its special customs status with the U.S. if its autonomy is seen to be eroded with the contentious extradition bill, according to one analyst. There’s much at stake for Hong Kong, a special administrative region in China, with the risk that it is increasingly perceived as a “weak link” amid the U.S-China trade ... Read More »

Hong Kong shops, workers in rare strike to ‘defend freedom’


HONG KONG : Hong Kong retailer Alan Li shut up shop on Wednesday, joining about 100 businesses and numerous workers in a rare strike to protest against an extradition bill that many fear will undermine freedom and confidence in the commercial hub. “Even though we can’t do business for a day, for me there is nothing more important than defending ... Read More »