Trump’s strength, unpredictability can help end war with Russia: Zelensky
By Associated Press
US president-elect Donald Trump is “strong and unpredictable” and those qualities can be a decisive factor in his policy approach to Russia’s invasion of Ukraine, according to Ukrainian President Volodymyr Zelensky.
However, Zelensky said it will not be possible to end the almost three years of war in one day, as Trump claimed during his election campaign he could do.
“The ‘hot’ stage of the war can end quite quickly, if Trump is strong in his position,” Zelensky said in a Ukrainian television interview late on Thursday, referring to fighting on the battlefield.
“I believe (Trump) is strong and unpredictable. I would very much like President Trump’s unpredictability to be directed primarily toward the Russian Federation,” Zelensky said.
Trump, who takes office on January 20, has not publicly fleshed out his policy on Ukraine but his previous comments have put a question mark over whether the United States will continue to be Ukraine’s biggest – and most important – military backer.
Zelensky is eager to guarantee that Washington’s support keeps coming, and he met with Trump in New York even before November’s US presidential election.
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By Associated Press
US president-elect Donald Trump is “strong and unpredictable” and those qualities can be a decisive factor in his policy approach to Russia’s invasion of Ukraine, according to Ukrainian President Volodymyr Zelensky.
However, Zelensky said it will not be possible to end the almost three years of war in one day, as Trump claimed during his election campaign he could do.
“The ‘hot’ stage of the war can end quite quickly, if Trump is strong in his position,” Zelensky said in a Ukrainian television interview late on Thursday, referring to fighting on the battlefield.
“I believe (Trump) is strong and unpredictable. I would very much like President Trump’s unpredictability to be directed primarily toward the Russian Federation,” Zelensky said.
Trump, who takes office on January 20, has not publicly fleshed out his policy on Ukraine but his previous comments have put a question mark over whether the United States will continue to be Ukraine’s biggest – and most important – military backer.
Zelensky is eager to guarantee that Washington’s support keeps coming, and he met with Trump in New York even before November’s US presidential election.
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China aiming for more export curbs after bans on US defence contractors
By Alyssa Chen
China is looking to impose further export curbs on hi-tech technologies, according to a notice from the Ministry of Commerce that said it had launched a public consultation on the matter.
The annual export control catalogue was issued on Thursday, the same day the ministry placed dozens of US defence contractors on an export bans list.
The extended restrictions would apply to technologies typically used to make electric vehicle (EV) battery components and for processing critical minerals such as lithium and gallium, the ministry said.
These include some technology to produce batteries with lithium iron phosphate (LFP), as well as phosphate-based cathode materials, according to the catalogue.
Cathode materials play a crucial role in the performance of lithium-ion batteries, extensively used in EVs.
LFP is a cathode material used to make LFP batteries, which are known across China for their cost-effectiveness, lower safety risks, longer life cycle and robust thermal and chemical stability.
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By Alyssa Chen
China is looking to impose further export curbs on hi-tech technologies, according to a notice from the Ministry of Commerce that said it had launched a public consultation on the matter.
The annual export control catalogue was issued on Thursday, the same day the ministry placed dozens of US defence contractors on an export bans list.
The extended restrictions would apply to technologies typically used to make electric vehicle (EV) battery components and for processing critical minerals such as lithium and gallium, the ministry said.
These include some technology to produce batteries with lithium iron phosphate (LFP), as well as phosphate-based cathode materials, according to the catalogue.
Cathode materials play a crucial role in the performance of lithium-ion batteries, extensively used in EVs.
LFP is a cathode material used to make LFP batteries, which are known across China for their cost-effectiveness, lower safety risks, longer life cycle and robust thermal and chemical stability.
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Hong Kong man arrested for ‘furious driving’ after officer dragged 70 metres
By Edith Lin
A Hong Kong man who sped away in his van, dragging a uniformed officer for 70 metres on New Year’s Day, was arrested on suspicion of “furious driving”, drug possession and obstructing police, the force said on Friday.
It said the suspect, 56, was arrested at 5pm on Thursday in Lok Ma Chau with 10 grams of cocaine in his possession, a day after he allegedly made a false report to police that he had been stopped and harassed by an unknown man during the incident in Cheung Sha Wan.
Police also said that they had found the van involved in the case.
Acting chief inspector Lai Ma-yan of Sham Shui Po district investigation team said the officer had spotted the driver holding a syringe, along with packages of suspected drugs in the vehicle, through an open side window on Wednesday as he approached the van, illegally parked near the intersection of Lai Po Road and Lin Cheung Road.
The driver ignored the officer’s order to get out of the vehicle and drove away, prompting the officer to try to stop him from leaving the scene.
“To prevent the driver from drug driving and endanger the safety of other road users, the officer grabbed his arm and bravely risked his life to stop the vehicle,” Lai said.
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By Edith Lin
A Hong Kong man who sped away in his van, dragging a uniformed officer for 70 metres on New Year’s Day, was arrested on suspicion of “furious driving”, drug possession and obstructing police, the force said on Friday.
It said the suspect, 56, was arrested at 5pm on Thursday in Lok Ma Chau with 10 grams of cocaine in his possession, a day after he allegedly made a false report to police that he had been stopped and harassed by an unknown man during the incident in Cheung Sha Wan.
Police also said that they had found the van involved in the case.
Acting chief inspector Lai Ma-yan of Sham Shui Po district investigation team said the officer had spotted the driver holding a syringe, along with packages of suspected drugs in the vehicle, through an open side window on Wednesday as he approached the van, illegally parked near the intersection of Lai Po Road and Lin Cheung Road.
The driver ignored the officer’s order to get out of the vehicle and drove away, prompting the officer to try to stop him from leaving the scene.
“To prevent the driver from drug driving and endanger the safety of other road users, the officer grabbed his arm and bravely risked his life to stop the vehicle,” Lai said.
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Hong Kong’s Kai Tak Sports Park to host 10,000 during first trial of main stadium
By Winnie Wong
Hong Kong’s Kai Tak Sports Park will host its first test event at its main stadium on Sunday with an expected turnout of 10,000 people, allowing venue staff to assess their crowd dispersal capabilities using taxis, buses and MTR services.
Authorities also said they would test an internal communication platform for mobilising taxis during the event, but special bus arrangements were excluded from the drill as the scale of the event did not require such services.
The 50,000-capacity stadium, set to open in the first quarter this year, will host the University Sports Federation of Hong Kong, China’s rugby sevens tournament finals, featuring 17 teams from different institutions.
Sunday’s event is considered a test run for the Hong Kong Sevens scheduled to be held in March.
A temporary taxi pickup and drop-off area will be set up on Sung Wong Toi Road – a six to seven minutes walk to the main stadium – during the trial match, said Eric Wan Pak-yan, the Transport Department’s principal transport officer, on Friday.
According to Wan, the Kai Tak Sports Park will test a communication platform, developed with the help of the department, allowing for real-time updates to taxi operators regarding demand at the temporary cab stand.
MTR and bus services would operate on a regular basis, Wan said, adding that operators would monitor the crowds and adjust service frequency as needed.
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By Winnie Wong
Hong Kong’s Kai Tak Sports Park will host its first test event at its main stadium on Sunday with an expected turnout of 10,000 people, allowing venue staff to assess their crowd dispersal capabilities using taxis, buses and MTR services.
Authorities also said they would test an internal communication platform for mobilising taxis during the event, but special bus arrangements were excluded from the drill as the scale of the event did not require such services.
The 50,000-capacity stadium, set to open in the first quarter this year, will host the University Sports Federation of Hong Kong, China’s rugby sevens tournament finals, featuring 17 teams from different institutions.
Sunday’s event is considered a test run for the Hong Kong Sevens scheduled to be held in March.
A temporary taxi pickup and drop-off area will be set up on Sung Wong Toi Road – a six to seven minutes walk to the main stadium – during the trial match, said Eric Wan Pak-yan, the Transport Department’s principal transport officer, on Friday.
According to Wan, the Kai Tak Sports Park will test a communication platform, developed with the help of the department, allowing for real-time updates to taxi operators regarding demand at the temporary cab stand.
MTR and bus services would operate on a regular basis, Wan said, adding that operators would monitor the crowds and adjust service frequency as needed.
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Taiwan proposes outlawing political party devoted to unification with mainland China
By Xinlu Liang
Taiwanese authorities have proposed outlawing a small political party dedicated to unification with mainland China, citing concerns about infiltration and organised crime.
Taiwan’s Ministry of the Interior announced on Thursday that it would formally request that the constitutional court dissolve the China Unification Promotion Party (CUPP), marking the first attempt to disband a Taiwanese political party in decades.
According to the ministry’s statement, the 30,000-member CUPP has engaged in “systematic and organised criminal activities”. It said key members had “repeatedly” violated various laws, “posing serious threats to national security, social stability, and electoral integrity”.
While in the past both the ruling Democratic Progressive Party (DPP) and the main opposition Kuomintang (KMT) have suggested the CUPP is affiliated with gangs, the current administration seeks to definitively end its legitimacy as a political entity.
The ministry announced in November it would gather evidence to seek the formal disbanding of the CUPP.
It reported eight specific cases involving 11 people and noted that as many as 134 CUPP members were suspected of breaching various laws from 2010 to 2024. They were suspected of illegal activities ranging from obstruction of justice to human trafficking and murder.
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By Xinlu Liang
Taiwanese authorities have proposed outlawing a small political party dedicated to unification with mainland China, citing concerns about infiltration and organised crime.
Taiwan’s Ministry of the Interior announced on Thursday that it would formally request that the constitutional court dissolve the China Unification Promotion Party (CUPP), marking the first attempt to disband a Taiwanese political party in decades.
According to the ministry’s statement, the 30,000-member CUPP has engaged in “systematic and organised criminal activities”. It said key members had “repeatedly” violated various laws, “posing serious threats to national security, social stability, and electoral integrity”.
While in the past both the ruling Democratic Progressive Party (DPP) and the main opposition Kuomintang (KMT) have suggested the CUPP is affiliated with gangs, the current administration seeks to definitively end its legitimacy as a political entity.
The ministry announced in November it would gather evidence to seek the formal disbanding of the CUPP.
It reported eight specific cases involving 11 people and noted that as many as 134 CUPP members were suspected of breaching various laws from 2010 to 2024. They were suspected of illegal activities ranging from obstruction of justice to human trafficking and murder.
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Hong Kong social worker in legal fight over planned tech hub arrested
By Edith Lin
A social worker who received court permission to challenge the government’s conditional approval of an environmental study for a technology hub project near Hong Kong’s border with mainland China has been arrested for deception, the Post has learned.
Eddie Tse Sai-kit was suspected of deceiving authorities about his old-age living allowance and public rental housing application and was released on bail on Friday, an insider familiar with the situation said.
The court in August granted Tse’s application for a judicial review of the government’s conditional approval of the environmental impact assessment report for the San Tin Technopole project, which aims to turn around 600 hectares (1,483 acres) of land into an innovation hub and new town.
Tse applied for legal aid that month, but the Legal Aid Department had yet to announce the result and was slammed by the court for dragging its feet.
The department on Monday reportedly told the court that it needed time for assessment as other parties had raised doubts about Tse’s economic situation but stopped short of revealing their identities.
The court ordered the department to announce Tse’s application result by January 10 or submit to it a written explanation if a result had not been reached.
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By Edith Lin
A social worker who received court permission to challenge the government’s conditional approval of an environmental study for a technology hub project near Hong Kong’s border with mainland China has been arrested for deception, the Post has learned.
Eddie Tse Sai-kit was suspected of deceiving authorities about his old-age living allowance and public rental housing application and was released on bail on Friday, an insider familiar with the situation said.
The court in August granted Tse’s application for a judicial review of the government’s conditional approval of the environmental impact assessment report for the San Tin Technopole project, which aims to turn around 600 hectares (1,483 acres) of land into an innovation hub and new town.
Tse applied for legal aid that month, but the Legal Aid Department had yet to announce the result and was slammed by the court for dragging its feet.
The department on Monday reportedly told the court that it needed time for assessment as other parties had raised doubts about Tse’s economic situation but stopped short of revealing their identities.
The court ordered the department to announce Tse’s application result by January 10 or submit to it a written explanation if a result had not been reached.
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Chinese officials urged not to ignore public opinion and criticism
By Leopold Chen
Chinese cadres have been urged to properly manage public opinion online to respond to outcries and ensure social stability.
In a social media post on Friday, the publicity branch of the Communist Party in Zhejiang province said “an extreme minority” of officials had been ignoring views expressed online and were instead censoring criticism.
“Some cadres avoid solving problems in reality and rely on ‘control’ by cyberspace authorities,” the post said, warning that this would lead to more serious problems.
It also quoted Chinese leader Xi Jinping’s comments that “if we fail to govern the internet well, we will fail to ensure long-term governance,” to emphasise the importance of effective cyberspace regulation.
The post blamed bureaucracy and prejudice for ignoring complaints posted online and said some officials have an outdated mindset and only care about their own positions or the interests of their own department or region.
“Although these officials attach some importance to public opinion, they only focus on reports from mainstream media and ignore online discussion. Some even think that ‘it is just internet discussion, and it does not matter’,” it said.
The post warned that it will be too late if complaints are ignored until they attract media coverage.
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By Leopold Chen
Chinese cadres have been urged to properly manage public opinion online to respond to outcries and ensure social stability.
In a social media post on Friday, the publicity branch of the Communist Party in Zhejiang province said “an extreme minority” of officials had been ignoring views expressed online and were instead censoring criticism.
“Some cadres avoid solving problems in reality and rely on ‘control’ by cyberspace authorities,” the post said, warning that this would lead to more serious problems.
It also quoted Chinese leader Xi Jinping’s comments that “if we fail to govern the internet well, we will fail to ensure long-term governance,” to emphasise the importance of effective cyberspace regulation.
The post blamed bureaucracy and prejudice for ignoring complaints posted online and said some officials have an outdated mindset and only care about their own positions or the interests of their own department or region.
“Although these officials attach some importance to public opinion, they only focus on reports from mainstream media and ignore online discussion. Some even think that ‘it is just internet discussion, and it does not matter’,” it said.
The post warned that it will be too late if complaints are ignored until they attract media coverage.
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China’s premier tells local authorities to give economy early boost in new year
By Sylvia Ma
China’s leadership has sent a clear signal to local governments to act resolutely and swiftly for a strong start to 2025, as concerns grow over the country’s ability to sustain economic growth amid rising external uncertainties and weak domestic demand.
During a visit to Shandong province, Premier Li Qiang urged local authorities to “take on a sense of urgency and responsibility, seizing the day and starting strong from the beginning”, Xinhua reported on Thursday.
“As we enter the new year … we must ensure the early implementation of policies, accelerate the advancement of projects, and deliver tangible results with our measures, striving to achieve a good start for this year’s economic development,” he said.
Li called for expanded trade-in programmes to boost consumption, emphasising the need to broaden their scope, continue subsidy funding, and maximise the policy’s impact.
He also urged a major push to expand charging and battery-swapping infrastructure to accommodate the growing number of new energy vehicles in China. Progress should also be accelerated in the building of key infrastructure and livelihood projects, such as sports venues and modern water networks, the premier said.
Li’s comments come as China is struggling to boost household and business confidence and revitalise domestic demand. US president-elect Donald Trump’s return to the White House on January 20 will add external pressure via renewed tariff threats.
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By Sylvia Ma
China’s leadership has sent a clear signal to local governments to act resolutely and swiftly for a strong start to 2025, as concerns grow over the country’s ability to sustain economic growth amid rising external uncertainties and weak domestic demand.
During a visit to Shandong province, Premier Li Qiang urged local authorities to “take on a sense of urgency and responsibility, seizing the day and starting strong from the beginning”, Xinhua reported on Thursday.
“As we enter the new year … we must ensure the early implementation of policies, accelerate the advancement of projects, and deliver tangible results with our measures, striving to achieve a good start for this year’s economic development,” he said.
Li called for expanded trade-in programmes to boost consumption, emphasising the need to broaden their scope, continue subsidy funding, and maximise the policy’s impact.
He also urged a major push to expand charging and battery-swapping infrastructure to accommodate the growing number of new energy vehicles in China. Progress should also be accelerated in the building of key infrastructure and livelihood projects, such as sports venues and modern water networks, the premier said.
Li’s comments come as China is struggling to boost household and business confidence and revitalise domestic demand. US president-elect Donald Trump’s return to the White House on January 20 will add external pressure via renewed tariff threats.
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Hong Kong lawmakers push for deeper cuts to Tai Lam Tunnel tolls
By Vivian Au
Hong Kong lawmakers have called for further cuts to the Tai Lam Tunnel tolls during off-peak hours, beyond the government’s proposed reduction in charges set to take effect in May.
Secretary for Transport and Logistics Mable Chan said on Friday that the tunnel could see increased usage if there was a deeper drop in tolls, stressing that authorities would need to maintain a macro view on traffic management.
“Our main concern is to prevent traffic congestion,” she told lawmakers.
The Transport and Logistics Bureau last month floated a proposal of time-varying fees for the tunnel that connects Yuen Long with western Tsuen Wan.
Under the plan, tolls range from the steepest at HK$45 (US$5.80) during peak hours on weekdays and Saturdays, to HK$30 during normal time slots, and HK$18 for off-peak hours between Monday and Saturday, and throughout Sundays and public holidays.
Taxis and commercial vehicles will be charged an all-day uniform toll of HK$28 and HK$43, respectively.
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By Vivian Au
Hong Kong lawmakers have called for further cuts to the Tai Lam Tunnel tolls during off-peak hours, beyond the government’s proposed reduction in charges set to take effect in May.
Secretary for Transport and Logistics Mable Chan said on Friday that the tunnel could see increased usage if there was a deeper drop in tolls, stressing that authorities would need to maintain a macro view on traffic management.
“Our main concern is to prevent traffic congestion,” she told lawmakers.
The Transport and Logistics Bureau last month floated a proposal of time-varying fees for the tunnel that connects Yuen Long with western Tsuen Wan.
Under the plan, tolls range from the steepest at HK$45 (US$5.80) during peak hours on weekdays and Saturdays, to HK$30 during normal time slots, and HK$18 for off-peak hours between Monday and Saturday, and throughout Sundays and public holidays.
Taxis and commercial vehicles will be charged an all-day uniform toll of HK$28 and HK$43, respectively.
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Why India is unlikely to extradite ousted Bangladesh leader Sheikh Hasina
By Shaikh Azizur Rahman
Bangladesh’s formal request for the extradition of former prime minister Sheikh Hasina has put New Delhi in a diplomatic bind, with officials and experts suggesting India is unlikely to comply due to legal uncertainties and fears of damaging its strategic interests.
After a massive nationwide protest led by students ousted Hasina on August 5, ending her 15-year rule, she fled to India where she is reportedly staying in housing provided by the Indian government.
India’s Ministry of External Affairs has declined to clarify its next steps in response to the extradition request, which was sent by Bangladesh last week.
“At this time, we have no comment to offer on this matter,” ministry spokesperson Randhir Jaiswal said on December 24.
Some Indian foreign policy experts suggest New Delhi may not hand Hasina back without stringent proof of wrongdoing.
“Bangladesh needs to present solid evidence that Hasina is guilty of the crimes they are accusing her of, as extradition is essentially a judicial process,” Pinak Ranjan Chakravarty, former Indian high commissioner to Bangladesh, told This Week in Asia.
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By Shaikh Azizur Rahman
Bangladesh’s formal request for the extradition of former prime minister Sheikh Hasina has put New Delhi in a diplomatic bind, with officials and experts suggesting India is unlikely to comply due to legal uncertainties and fears of damaging its strategic interests.
After a massive nationwide protest led by students ousted Hasina on August 5, ending her 15-year rule, she fled to India where she is reportedly staying in housing provided by the Indian government.
India’s Ministry of External Affairs has declined to clarify its next steps in response to the extradition request, which was sent by Bangladesh last week.
“At this time, we have no comment to offer on this matter,” ministry spokesperson Randhir Jaiswal said on December 24.
Some Indian foreign policy experts suggest New Delhi may not hand Hasina back without stringent proof of wrongdoing.
“Bangladesh needs to present solid evidence that Hasina is guilty of the crimes they are accusing her of, as extradition is essentially a judicial process,” Pinak Ranjan Chakravarty, former Indian high commissioner to Bangladesh, told This Week in Asia.
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High-heeled China son struts stuff like supermodel to raise cash for mum’s cancer treatment
By Fran Lu
A young live streamer in China has attracted 800,000 followers on a major social media platform by wearing high heels and strutting his stuff like a runway model to sell oranges in his village.
The money he has raised from his eye-catching online videos helps pay for his mother’s cancer treatment.
Since 2022, Cheng Zhongkun, 25, who uses the online handle @mingmokun, which means “supermodel kun”, has been posting videos of himself in high heels having fun with fellow villagers in his hometown of Qingji in southwestern China’s Chongqing municipality.
Cheng, who graduated as a dancing major from Chengdu Sport University in southwestern Sichuan province, is not afraid to show off his feminine side in the videos.
His father went to the city for work when Cheng was two years old, leaving his mother to take care of the daily farm work.
As a result, Cheng had to grow up fast.
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By Fran Lu
A young live streamer in China has attracted 800,000 followers on a major social media platform by wearing high heels and strutting his stuff like a runway model to sell oranges in his village.
The money he has raised from his eye-catching online videos helps pay for his mother’s cancer treatment.
Since 2022, Cheng Zhongkun, 25, who uses the online handle @mingmokun, which means “supermodel kun”, has been posting videos of himself in high heels having fun with fellow villagers in his hometown of Qingji in southwestern China’s Chongqing municipality.
Cheng, who graduated as a dancing major from Chengdu Sport University in southwestern Sichuan province, is not afraid to show off his feminine side in the videos.
His father went to the city for work when Cheng was two years old, leaving his mother to take care of the daily farm work.
As a result, Cheng had to grow up fast.
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South Korea blaze sees multiple people trapped
By Reuters
Multiple people were reported trapped on Friday in a fire in the South Korean city of Seongnam, south of Seoul.
YTN Television showed video footage of a building that appeared to be at least eight storeys tall engulfed in black smoke with a blaze burning on the lower floors.
There have been no confirmed casualties, YTN said.
The fire broke out in Seongnam in Gyeonggi Province on Friday afternoon.
The building, which also has five basement floors, houses underground car parks, sports facilities, and restaurants below ground, while shops and hospitals are located above ground.
Fire authorities issued the second stage of response in a three-tier system due to concerns about potential casualties involving multiple people.
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By Reuters
Multiple people were reported trapped on Friday in a fire in the South Korean city of Seongnam, south of Seoul.
YTN Television showed video footage of a building that appeared to be at least eight storeys tall engulfed in black smoke with a blaze burning on the lower floors.
There have been no confirmed casualties, YTN said.
The fire broke out in Seongnam in Gyeonggi Province on Friday afternoon.
The building, which also has five basement floors, houses underground car parks, sports facilities, and restaurants below ground, while shops and hospitals are located above ground.
Fire authorities issued the second stage of response in a three-tier system due to concerns about potential casualties involving multiple people.
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Hong Kong to experience warmer, drier weather in coming 3 months: Observatory
By Ng Kang-chung
Hong Kong will experience warmer but drier than usual weather in the coming three months following an almost rainless December, according to the latest analysis from the city’s meteorological agency.
The Observatory’s report, released on Friday, also noted that last month was slightly warmer than normal, with the monthly mean temperature at 18.5 degrees Celsius (65.3 degrees Fahrenheit) – 0.3 degrees higher than the December norm.
Looking ahead, the Observatory forecast “normal to above-normal temperature” for January through March, attributing the trend to climate warming which has led to a “significant long-term increase” in Hong Kong’s temperatures.
“Besides, the majority of climate models around the world forecast normal to above-normal temperature over southern China for January-March 2025. Hence, the temperature of January-March 2025 in Hong Kong is expected to be normal to above normal,” the Observatory said.
It also noted there would be a higher chance of “normal to below-normal” rainfall in Hong Kong between January and March, as suggested by forecasts from most other climate models.
The Observatory said in its report that the weather in December was “much drier than usual in Hong Kong”.
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By Ng Kang-chung
Hong Kong will experience warmer but drier than usual weather in the coming three months following an almost rainless December, according to the latest analysis from the city’s meteorological agency.
The Observatory’s report, released on Friday, also noted that last month was slightly warmer than normal, with the monthly mean temperature at 18.5 degrees Celsius (65.3 degrees Fahrenheit) – 0.3 degrees higher than the December norm.
Looking ahead, the Observatory forecast “normal to above-normal temperature” for January through March, attributing the trend to climate warming which has led to a “significant long-term increase” in Hong Kong’s temperatures.
“Besides, the majority of climate models around the world forecast normal to above-normal temperature over southern China for January-March 2025. Hence, the temperature of January-March 2025 in Hong Kong is expected to be normal to above normal,” the Observatory said.
It also noted there would be a higher chance of “normal to below-normal” rainfall in Hong Kong between January and March, as suggested by forecasts from most other climate models.
The Observatory said in its report that the weather in December was “much drier than usual in Hong Kong”.
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Hong Kong property deals drop in December as slump thins agent ranks
By Salina Li
Property transactions in Hong Kong fell in December amid a slump that has thinned the city’s ranks of licensed property agents to a seven-year low.
Hong Kong recorded 5,510 property transactions in December, including new and second-hand homes, parking spaces, shops, industrial facilities and offices, according to Land Registry data released on Friday. This represents a 28.3 per cent drop from November but a 46.4 per cent improvement from a year earlier. The total value amounted to HK$42.8 billion (US$5.5 billion), down 33.3 per cent from November but up 27.4 per cent year on year.
Home transactions fell 35 per cent from November to 4,103 after a rebound in the previous two months, although this represented a 40 per cent jump year on year. Residential sales totalled HK$32.6 billion.
A total of 67,979 deals were recorded in 2024, up 17 per cent from 58,035 in 2023 and the highest since 96,133 in 2021, the data showed. Residential sales for the year surged 23.5 per cent to 53,099.
“The growth [in residential property transactions] was mainly contributed by primary sales, thanks to the removal of property curbs and the start of rate cut cycle,” said Eddie Kwok, executive director of valuation and advisory services at CBRE Hong Kong.
Further easing in the effective mortgage rate led to a continuous inflow of buyers into the residential property sector, he said, adding that the drop in December was mainly attributable to seasonal factors.
“We expect transaction volume to remain at a similar level in January,” Kwok said. “The situation is likely to improve after [Lunar] New Year, when we expect developers to debut more new projects.”
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By Salina Li
Property transactions in Hong Kong fell in December amid a slump that has thinned the city’s ranks of licensed property agents to a seven-year low.
Hong Kong recorded 5,510 property transactions in December, including new and second-hand homes, parking spaces, shops, industrial facilities and offices, according to Land Registry data released on Friday. This represents a 28.3 per cent drop from November but a 46.4 per cent improvement from a year earlier. The total value amounted to HK$42.8 billion (US$5.5 billion), down 33.3 per cent from November but up 27.4 per cent year on year.
Home transactions fell 35 per cent from November to 4,103 after a rebound in the previous two months, although this represented a 40 per cent jump year on year. Residential sales totalled HK$32.6 billion.
A total of 67,979 deals were recorded in 2024, up 17 per cent from 58,035 in 2023 and the highest since 96,133 in 2021, the data showed. Residential sales for the year surged 23.5 per cent to 53,099.
“The growth [in residential property transactions] was mainly contributed by primary sales, thanks to the removal of property curbs and the start of rate cut cycle,” said Eddie Kwok, executive director of valuation and advisory services at CBRE Hong Kong.
Further easing in the effective mortgage rate led to a continuous inflow of buyers into the residential property sector, he said, adding that the drop in December was mainly attributable to seasonal factors.
“We expect transaction volume to remain at a similar level in January,” Kwok said. “The situation is likely to improve after [Lunar] New Year, when we expect developers to debut more new projects.”
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Calling all smartphone seekers: China to subsidise personal devices, expand trade-in push
By Ji Siqi
China will subsidise consumers who purchase new smartphones this year, in the latest attempt to elevate the country’s sluggish domestic consumption as external uncertainties are set to mount.
The country’s nationwide consumer trade-in programme, funded by sovereign bonds, will be expanded to personal digital products, including smartphones and tablets, as well as smartwatches and bracelets, its top economic planner announced on Friday.
Yuan Da, deputy secretary general of the National Development and Reform Commission, said at a press conference that China will “significantly increase the scale of ultra-long-term special treasury bonds” to support the expansion of consumer goods trade-ins and industrial equipment upgrades in 2025.
The NRDC will optimise the allocation of funds by favouring areas with better results achieved in the trade-in programme last year, Yuan said.
It will also simplify the subsidy process to reduce the liquidity pressure on enterprises, while strengthening fund supervision, he added.
By the end of August, Beijing had disbursed 150 billion yuan (US$20.55 billion) to local governments to subsidise consumer purchases of home appliances and electric cars.
The move injected some energy into weak domestic consumption that has impeded China’s economic recovery, as a large share of household wealth has been trapped in the dwindling property and stock markets.
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By Ji Siqi
China will subsidise consumers who purchase new smartphones this year, in the latest attempt to elevate the country’s sluggish domestic consumption as external uncertainties are set to mount.
The country’s nationwide consumer trade-in programme, funded by sovereign bonds, will be expanded to personal digital products, including smartphones and tablets, as well as smartwatches and bracelets, its top economic planner announced on Friday.
Yuan Da, deputy secretary general of the National Development and Reform Commission, said at a press conference that China will “significantly increase the scale of ultra-long-term special treasury bonds” to support the expansion of consumer goods trade-ins and industrial equipment upgrades in 2025.
The NRDC will optimise the allocation of funds by favouring areas with better results achieved in the trade-in programme last year, Yuan said.
It will also simplify the subsidy process to reduce the liquidity pressure on enterprises, while strengthening fund supervision, he added.
By the end of August, Beijing had disbursed 150 billion yuan (US$20.55 billion) to local governments to subsidise consumer purchases of home appliances and electric cars.
The move injected some energy into weak domestic consumption that has impeded China’s economic recovery, as a large share of household wealth has been trapped in the dwindling property and stock markets.
via SCMP Full Text Feed
