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All articles tagged with #hong kong

Hong Kong tops Switzerland as the world's biggest cross-border wealth hub
world1 day ago

Hong Kong tops Switzerland as the world's biggest cross-border wealth hub

Hong Kong has overtaken Switzerland to become the world’s largest cross-border wealth hub, with about $2.9 trillion of international assets in 2025—roughly 60% from mainland China. The Boston Consulting Group expects the gap to widen to nearly $600 billion by 2030 as Asian fortunes grow. The shift reflects Hong Kong’s revived equity markets, China’s manufacturing strength, and a broader move by wealthy clients to diversify assets across jurisdictions to hedge geopolitical risks. Banks are expanding booking operations in HK and Singapore, while Switzerland faces regulatory pressures and questions about defending its position; Dubai is rising as a regional bridge, though cross-border wealth there remains smaller than Hong Kong or Switzerland.

via Financial Times|
#asia-pacific#cross-border-wealth#hong-kong
Hong Kong’s First Astronaut Joins China’s Shenzhou 23 Crew for a Year in Orbit
space-exploration4 days ago

Hong Kong’s First Astronaut Joins China’s Shenzhou 23 Crew for a Year in Orbit

China on May 24 will launch the three-person Shenzhou 23 crew—Zhu Yangzhu (commander), Zhang Zhiyuan (pilot) and Lai Ka-ying (payload specialist) from Hong Kong, who becomes Hong Kong’s first astronaut. One crewmember will spend a full year in orbit, a first for China, as the mission docks with the Tiangong space station. The flight, from Jiuquan, sets the stage for Shenzhou 24, which will include a Pakistani astronaut, while Shenzhou 21’s crew remains aboard Tiangong on an extended mission.

via Space|
#astronauts#china#hong-kong
China's Shenzhou 23 set for Tiangong launch with Hong Kong's Lai Ka-ying aboard
space-exploration4 days ago

China's Shenzhou 23 set for Tiangong launch with Hong Kong's Lai Ka-ying aboard

China is preparing to launch Shenzhou 23 to the Tiangong space station on May 24 with crew Zhu Yangzhu, Zhang Zhiyuan and Lai Ka-ying for a six‑month stay; Lai will be Hong Kong's first orbiting astronaut, and one crew member is expected to embark on a year‑long orbit later as part of the Shenzhou 24 plan involving a Pakistani visitor (the specific astronaut to take the year‑long seat has not yet been named). The mission follows Shenzhou 21’s end and Shenzhou 22’s lifeboat role, and Tianzhou 10 arrived May 11 with nearly seven tons of supplies.

via Space|
#china#hong-kong#shenzhou-23
Hong Kong blamed for financing Iran’s regime via sanctions-busting networks
world17 days ago

Hong Kong blamed for financing Iran’s regime via sanctions-busting networks

A 26-page report from the Committee for Freedom in Hong Kong alleges that Hong Kong-based firms and its financial and shipping sectors helped Iran evade Western sanctions, funneling billions to the Islamic Revolutionary Guard Corps and supporting oil shipments, drone components, and surveillance tech for Tehran’s program. The document cites shell companies, shadow fleets, and past HSBC sanctions violations, while Hong Kong officials say they enforce UN sanctions and oppose unilateral measures; the report calls for stronger enforcement and political will to use existing authority.

via New York Post|
#hong-kong#hsbc#iran
UK Convicts Two for Spying on Hong Kong Dissidents for China
world19 days ago

UK Convicts Two for Spying on Hong Kong Dissidents for China

In London, two dual British-Chinese nationals were found guilty of assisting a foreign intelligence service by spying on Hong Kong dissidents in Britain on behalf of China/Hong Kong authorities, with targets including activist Nathan Law; the operation ran from December 2023 to May 2024, a third man died, and the pair face up to 14 years in prison with sentencing to come, as Britain vows to hold Beijing to account and China denies the charges.

via CNN|
#china#hong-kong#old-bailey
Two London Spying Convictions Ties UK Dissidents to Beijing
world20 days ago

Two London Spying Convictions Ties UK Dissidents to Beijing

Two men, Chung Biu Yuen and Chi Leung Wai — including a former UK Border Force officer — were found guilty in London of spying for a foreign intelligence service by surveilling Hong Kong dissidents in Britain, including activist Nathan Law, between December 2023 and May 2024; they face up to 14 years in prison, while a third co-defendant died and a separate ‘foreign interference’ charge ended with a hung jury, highlighting ongoing security tensions between the UK and China.

via CNN|
#china#dissidents#hong-kong
Hong Kong fire survivor finds strength in keepsakes from ruined home
world1 month ago

Hong Kong fire survivor finds strength in keepsakes from ruined home

Dorz Cheung returns to his burnt Hong Kong flat after November’s deadly blaze, salvaging medals, family photos and his grandmother’s journals—plus his late grandfather’s documents and plaques—amid ash and memories. The emotional visit, conducted under government supervision, deepens family bonds as Cheung and his grandmother adapt to tiny temporary housing; he has resumed running to cope and hopes the tragedy will make him stronger.

via Reuters|
#disaster#fire#hong-kong
Nio climbs in Hong Kong on delivery-growth optimism and ES9 pre-sales
business1 month ago

Nio climbs in Hong Kong on delivery-growth optimism and ES9 pre-sales

Nio's Hong Kong shares jumped about 7% after CEO William Li reaffirmed a 40%-50% annual delivery growth target, buoyed by strong ES8 sales (March: 16,255 units) and ES9 pre-sales at a starting price of 528,000 yuan. The ES8 continues to lead the 400,000+ yuan segment for four months, while the ES9 is set for a late-May launch with deliveries starting June 1, helping the stock outperform its EV peers.

via CnEVPost|
#business#delivery-target#es8
Victory Giant Seeks HK IPO to Raise Up to $2.2 Billion Amid Iran-Driven Volatility
business1 month ago

Victory Giant Seeks HK IPO to Raise Up to $2.2 Billion Amid Iran-Driven Volatility

China's Victory Giant launched a Hong Kong share sale to raise up to HK$17.5 billion ($2.2 billion), aiming for the largest HK listing since September. Cornerstone investors including CPE Rosewood, Janchor Fund and Yunfeng Capital will buy about $997 million of shares; proceeds will largely fund expansion of production of printed circuit boards for AI hardware, with listing set for April 21. The deal comes as Middle East tensions add volatility to markets, but analysts see longer-term interest from AI investors.

via Reuters|
#ai-hardware#business#hong-kong