How Hong Kong-US ties will shift under the Trump administration in 2025
By Willa WuConnor Mycroft
Financial services in Hong Kong could face increased scrutiny by the US in 2025 under Donald Trump’s leadership, while human rights will be “far less of a concern” for his administration, according to political and international relations experts.
But they expected that drastic measures, including unpegging the Hong Kong dollar from the US dollar and removing the city from the current financial messaging system, were “speculative” and would “encounter significant resistance”.
As 2025 begins, US sanctions on Hong Kong officials, including Chief Executive John Lee Ka-chiu, appear set to stay in place.
The United States will also start prohibiting outbound investment in Chinese semiconductor, quantum technology and artificial intelligence industries, including in Hong Kong, that threaten American national security.
All eyes are on whether Trump, who will be sworn in as president for his second term on January 20, will intensify pressure on mainland China and Hong Kong, particularly with a cabinet that comprises at least three China hawks.
The 78-year-old Republican has earlier promised to slap 60 per cent tariffs on “Made in China” goods, and ensure the release from jail of former media boss Jimmy Lai Chee-ying, charged with foreign collusion and sedition.
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By Willa WuConnor Mycroft
Financial services in Hong Kong could face increased scrutiny by the US in 2025 under Donald Trump’s leadership, while human rights will be “far less of a concern” for his administration, according to political and international relations experts.
But they expected that drastic measures, including unpegging the Hong Kong dollar from the US dollar and removing the city from the current financial messaging system, were “speculative” and would “encounter significant resistance”.
As 2025 begins, US sanctions on Hong Kong officials, including Chief Executive John Lee Ka-chiu, appear set to stay in place.
The United States will also start prohibiting outbound investment in Chinese semiconductor, quantum technology and artificial intelligence industries, including in Hong Kong, that threaten American national security.
All eyes are on whether Trump, who will be sworn in as president for his second term on January 20, will intensify pressure on mainland China and Hong Kong, particularly with a cabinet that comprises at least three China hawks.
The 78-year-old Republican has earlier promised to slap 60 per cent tariffs on “Made in China” goods, and ensure the release from jail of former media boss Jimmy Lai Chee-ying, charged with foreign collusion and sedition.
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US sanctions on Pakistan will only push it closer to China
By Abdul Moiz KhanSyeda Saba Batool
On December 18, the United States imposed sanctions on Pakistan’s ballistic missile programme under executive order 13382, which targets proliferators of weapons of mass destruction and their means of delivery. Sanctions were imposed on four Pakistani entities, including the state-owned National Development Complex. This round of sanctions is the fourth of its kind in 14 months.
In October 2023, the US sanctioned three Chinese entities for allegedly supplying Pakistan with materials that could be used in its missile programme. Similarly, in April last year, the US sanctioned three Chinese companies and a Belarusian firm, and in September, it sanctioned four Chinese firms and a Chinese individual for working with Pakistan on its missile programme.
The latest round of sanctions, however, stands out as it is the first time in recent history that the US has openly sanctioned a state-owned company.
US Deputy National Security Adviser Jon Finer, speaking at an event organised by the Arms Control Association and Carnegie Endowment for International Peace, spelled out the rationale for the sanctions, alleging that Pakistan is developing large rocket motors that could eventually provide it with the ability to strike targets well beyond South Asia, including in the United States.
Pakistan’s foreign office, in response, termed the sanctions unfortunate and biased. In a statement, it said: “Pakistan has also made it abundantly clear that our strategic programme and allied capabilities are solely meant to deter and thwart a clear and visible existential threat from our neighbourhood and should not be perceived as a threat to any other country. Hence, any irrational assumption of a hostile intent from Pakistan by any other country including the US is perplexing as well as illogical.”
Currently, Pakistan’s medium-range ballistic missile, the Shaheen-III, is the longest-range missile in its arsenal. It can travel 2,750km and has a motor with a diameter of 1.4m. For Pakistan to develop an intercontinental ballistic missile that can reach the US, the range would need to be about 12,000km.
The United States sanctioning Pakistani companies on the basis of unproven assumptions will strain relations between the two countries. Pakistan has, on multiple occasions, reiterated its stance that its nuclear capabilities are only to deter India.
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By Abdul Moiz KhanSyeda Saba Batool
On December 18, the United States imposed sanctions on Pakistan’s ballistic missile programme under executive order 13382, which targets proliferators of weapons of mass destruction and their means of delivery. Sanctions were imposed on four Pakistani entities, including the state-owned National Development Complex. This round of sanctions is the fourth of its kind in 14 months.
In October 2023, the US sanctioned three Chinese entities for allegedly supplying Pakistan with materials that could be used in its missile programme. Similarly, in April last year, the US sanctioned three Chinese companies and a Belarusian firm, and in September, it sanctioned four Chinese firms and a Chinese individual for working with Pakistan on its missile programme.
The latest round of sanctions, however, stands out as it is the first time in recent history that the US has openly sanctioned a state-owned company.
US Deputy National Security Adviser Jon Finer, speaking at an event organised by the Arms Control Association and Carnegie Endowment for International Peace, spelled out the rationale for the sanctions, alleging that Pakistan is developing large rocket motors that could eventually provide it with the ability to strike targets well beyond South Asia, including in the United States.
Pakistan’s foreign office, in response, termed the sanctions unfortunate and biased. In a statement, it said: “Pakistan has also made it abundantly clear that our strategic programme and allied capabilities are solely meant to deter and thwart a clear and visible existential threat from our neighbourhood and should not be perceived as a threat to any other country. Hence, any irrational assumption of a hostile intent from Pakistan by any other country including the US is perplexing as well as illogical.”
Currently, Pakistan’s medium-range ballistic missile, the Shaheen-III, is the longest-range missile in its arsenal. It can travel 2,750km and has a motor with a diameter of 1.4m. For Pakistan to develop an intercontinental ballistic missile that can reach the US, the range would need to be about 12,000km.
The United States sanctioning Pakistani companies on the basis of unproven assumptions will strain relations between the two countries. Pakistan has, on multiple occasions, reiterated its stance that its nuclear capabilities are only to deter India.
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China’s fusion of fireworks and drones reignites world’s oldest firework industry
By Daisy Wu
The swarm of drones soared upward carrying a bright and beautiful surprise in the small Chinese city of Liuyang. In unison, several fired off a spectacular volley of fireworks, illuminating the night sky like a meteor shower while eliciting oohs and ahs from onlookers.
The performance last month quickly went viral on social media, and many viewers commented that China’s firework displays have reached a new level of impressiveness with the help of drones.
Since 2013, growing concerns over safety and air quality have led to strict firework bans in several parts of China, putting immense pressure on the industry.
Official data shows that 16 provinces and cities across the country had completely halted firework production by 2015, resulting in more than 4,000 firework companies closing down.
Located in the central province of Hunan, Liuyang, the world’s largest producer and trading hub for fireworks, also faced a long period of economic decline until a boost from drone technology helped revive industrial production.
Liuyang’s firework sales in the first nine months of 2022 totaled 8.9 billion yuan (US$1.22 billion), marking an 11.46 per cent decrease from the same period seven years prior, according to the local industrial development centre. ST Panda, China’s only A-share listed company focused solely on fireworks, saw its revenue fall sharply to 162 million yuan in 2013, for a year-on-year decline of 36.37 per cent.
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By Daisy Wu
The swarm of drones soared upward carrying a bright and beautiful surprise in the small Chinese city of Liuyang. In unison, several fired off a spectacular volley of fireworks, illuminating the night sky like a meteor shower while eliciting oohs and ahs from onlookers.
The performance last month quickly went viral on social media, and many viewers commented that China’s firework displays have reached a new level of impressiveness with the help of drones.
Since 2013, growing concerns over safety and air quality have led to strict firework bans in several parts of China, putting immense pressure on the industry.
Official data shows that 16 provinces and cities across the country had completely halted firework production by 2015, resulting in more than 4,000 firework companies closing down.
Located in the central province of Hunan, Liuyang, the world’s largest producer and trading hub for fireworks, also faced a long period of economic decline until a boost from drone technology helped revive industrial production.
Liuyang’s firework sales in the first nine months of 2022 totaled 8.9 billion yuan (US$1.22 billion), marking an 11.46 per cent decrease from the same period seven years prior, according to the local industrial development centre. ST Panda, China’s only A-share listed company focused solely on fireworks, saw its revenue fall sharply to 162 million yuan in 2013, for a year-on-year decline of 36.37 per cent.
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10 dead, 30 injured after car ploughs into a crowd in New Orleans
By Associated PressReuters
Ten people were killed and 30 injured after a vehicle drove into a crowd on New Orleans’ Canal and Bourbon Street on Wednesday, according to NOLA Ready, the city’s emergency preparedness agency.
New Orleans police earlier said they were responding to a mass casualty incident, including fatalities. NOLA Ready advised people to stay away from the area.
More to follow …
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By Associated PressReuters
Ten people were killed and 30 injured after a vehicle drove into a crowd on New Orleans’ Canal and Bourbon Street on Wednesday, according to NOLA Ready, the city’s emergency preparedness agency.
New Orleans police earlier said they were responding to a mass casualty incident, including fatalities. NOLA Ready advised people to stay away from the area.
More to follow …
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Russian gas exports to Europe via Ukraine halt as transit deal expires
By Reuters
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year’s Day, marking the end of decades of Moscow’s dominance over Europe’s energy markets.
The gas had kept flowing despite nearly three years of war, but Russia’s gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement. The five-year gas transit deal between Russia and Ukraine expired early on January 1.
The shutdown of Russia’s oldest gas route to Europe ends a decade of fraught relations sparked by Russia’s seizure of Crimea in 2014. Ukraine stopped buying Russian gas the following year.
The widely expected stoppage will not impact prices for consumers in the European Union – unlike in 2022, when falling supplies from Russia sent prices to record highs, worsened a cost-of-living crisis and hit the bloc’s competitiveness.
The last remaining EU buyers of Russian gas via Ukraine, such as Slovakia and Austria, have arranged alternative supply. Hungary will keep receiving Russian gas via TurkStream, which runs two pipelines under the Black Sea.
Austria was ready for the ending of the gas transit deal and supplies to the country continue through other sources such as feed-in points in Germany or Italy and from storage facilities, the government said on Wednesday.
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By Reuters
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year’s Day, marking the end of decades of Moscow’s dominance over Europe’s energy markets.
The gas had kept flowing despite nearly three years of war, but Russia’s gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement. The five-year gas transit deal between Russia and Ukraine expired early on January 1.
The shutdown of Russia’s oldest gas route to Europe ends a decade of fraught relations sparked by Russia’s seizure of Crimea in 2014. Ukraine stopped buying Russian gas the following year.
The widely expected stoppage will not impact prices for consumers in the European Union – unlike in 2022, when falling supplies from Russia sent prices to record highs, worsened a cost-of-living crisis and hit the bloc’s competitiveness.
The last remaining EU buyers of Russian gas via Ukraine, such as Slovakia and Austria, have arranged alternative supply. Hungary will keep receiving Russian gas via TurkStream, which runs two pipelines under the Black Sea.
Austria was ready for the ending of the gas transit deal and supplies to the country continue through other sources such as feed-in points in Germany or Italy and from storage facilities, the government said on Wednesday.
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Hong Kong policeman hurt after being dragged 250 metres by ‘suspicious’ van
By Kahon Chan
A Hong Kong police officer has been injured after being dragged 250 metres while grabbing onto a “suspicious” van in Kowloon that sped away from him.
The force said the uniformed officer approached the van, which was parked near the intersection of Lai Po Road and Lin Cheung Road in Cheung Sha Wan, after deeming it “suspicious” during a patrol at around 10am on Wednesday.
The Post learned that the officer, through an open side window of the van, spotted the driver holding what looked like a syringe in his right hand, with five or six packages of suspected drugs on the dashboard.
The officer ordered the middle-aged man to get out of the van but he immediately drove away. The officer held onto the window frame and was dragged for around 250 metres before falling to the ground, while the vehicle sped away in the direction of Mong Kok.
The officer, who suffered injuries to his head, right arm and knees, was rushed to Princess Margaret Hospital in Kwai Chung. He was stretchered into an ambulance wearing a head immobiliser.
The Sham Shui Po district investigation team is looking into the case, which is being treated as “furious driving” and “obstructing a police officer in the performance of his duties”.
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By Kahon Chan
A Hong Kong police officer has been injured after being dragged 250 metres while grabbing onto a “suspicious” van in Kowloon that sped away from him.
The force said the uniformed officer approached the van, which was parked near the intersection of Lai Po Road and Lin Cheung Road in Cheung Sha Wan, after deeming it “suspicious” during a patrol at around 10am on Wednesday.
The Post learned that the officer, through an open side window of the van, spotted the driver holding what looked like a syringe in his right hand, with five or six packages of suspected drugs on the dashboard.
The officer ordered the middle-aged man to get out of the van but he immediately drove away. The officer held onto the window frame and was dragged for around 250 metres before falling to the ground, while the vehicle sped away in the direction of Mong Kok.
The officer, who suffered injuries to his head, right arm and knees, was rushed to Princess Margaret Hospital in Kwai Chung. He was stretchered into an ambulance wearing a head immobiliser.
The Sham Shui Po district investigation team is looking into the case, which is being treated as “furious driving” and “obstructing a police officer in the performance of his duties”.
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Hong Kong group gives government failing grade on efforts to help children
By Fiona Sun
A Hong Kong group has given a score of 26 out of 100 in its annual review of government policies and services aimed at helping impoverished children, calling for more assistance in housing, healthcare and education as the areas of the greatest concern for young people.
The Children’s Rights Association on Wednesday released the report for 2024 evaluating authorities’ performance in legislation, policies and services targeting poor children and their families.
While 26 is below the pass mark of 50, the latest score was the highest since the group started releasing its annual review in 2005. The association gave a score of 21 in 2023 and 19 in 2022.
The rating was decided by more than 20 children ambassadors, aged 17 and under, and after consulting with about 5,000 other members, all minors, through its app and various meetings.
“The government has not made much progress on its policies addressing social challenges such as poverty, the wealth gap, medical care and welfare,” said Lau Yui, one of the ambassadors.
The 11-year-old Primary Six pupil said the average waiting time for public housing remained long and little policy progress had been made in areas such as healthcare, poverty alleviation or legislation banning discrimination against new arrivals from mainland China.
“The current government focused on economic recovery but neglected to comprehensively tackle the problem of child poverty through policies, legislation or services,” he added. “Its work progressed slowly and could not keep up with social needs.”
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By Fiona Sun
A Hong Kong group has given a score of 26 out of 100 in its annual review of government policies and services aimed at helping impoverished children, calling for more assistance in housing, healthcare and education as the areas of the greatest concern for young people.
The Children’s Rights Association on Wednesday released the report for 2024 evaluating authorities’ performance in legislation, policies and services targeting poor children and their families.
While 26 is below the pass mark of 50, the latest score was the highest since the group started releasing its annual review in 2005. The association gave a score of 21 in 2023 and 19 in 2022.
The rating was decided by more than 20 children ambassadors, aged 17 and under, and after consulting with about 5,000 other members, all minors, through its app and various meetings.
“The government has not made much progress on its policies addressing social challenges such as poverty, the wealth gap, medical care and welfare,” said Lau Yui, one of the ambassadors.
The 11-year-old Primary Six pupil said the average waiting time for public housing remained long and little policy progress had been made in areas such as healthcare, poverty alleviation or legislation banning discrimination against new arrivals from mainland China.
“The current government focused on economic recovery but neglected to comprehensively tackle the problem of child poverty through policies, legislation or services,” he added. “Its work progressed slowly and could not keep up with social needs.”
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China’s Shandong carrier closes 2024 with ‘all-weather’ combat ability, sortie time cuts
By Enoch Wong
China’s second active aircraft carrier Shandong achieved “all-weather” combat capacity in the year 2024, while cutting time needed for jet deployment, according to state news agency Xinhua.
It also said the vessel had recently returned to port after concluding its final maritime training mission for the year.
“Compared to its early days, the carrier has significantly reduced aircraft launch preparation times, improved consecutive sortie readiness, and achieved round-the-clock all-weather operational capability in complex conditions,” Xinhua said in a report on Tuesday.
The report highlighted the warship’s critical role in the Joint Sword exercises around Taiwan, held since April 2023, including a 13-hour drill in October focused on sea-and air-combat readiness and port blockades.
The October exercise by the People’s Liberation Army (PLA) saw fighter jets launched from the Shandong as it operated east of Taiwan, mainland state media reported earlier.
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By Enoch Wong
China’s second active aircraft carrier Shandong achieved “all-weather” combat capacity in the year 2024, while cutting time needed for jet deployment, according to state news agency Xinhua.
It also said the vessel had recently returned to port after concluding its final maritime training mission for the year.
“Compared to its early days, the carrier has significantly reduced aircraft launch preparation times, improved consecutive sortie readiness, and achieved round-the-clock all-weather operational capability in complex conditions,” Xinhua said in a report on Tuesday.
The report highlighted the warship’s critical role in the Joint Sword exercises around Taiwan, held since April 2023, including a 13-hour drill in October focused on sea-and air-combat readiness and port blockades.
The October exercise by the People’s Liberation Army (PLA) saw fighter jets launched from the Shandong as it operated east of Taiwan, mainland state media reported earlier.
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Hong Kong police arrest 2 brothers, seize HK$12 million of drug Ice
By Danny Mok
Two brothers have been arrested in Hong Kong for allegedly handling HK$12 million worth of the drug Ice brought in from the United States and operating a storage facility.
Police said they arrested the suspects, aged 52 and 45, on New Year’s Eve following an extensive investigation that led officers to uncover a drug storage operation in a commercial building in Tai Kok Tsui.
Senior Inspector Jacky Liong Chun-hin of the force’s narcotics bureau said on Wednesday that officers apprehended the elder brother as he left the premises in the afternoon.
A search of the unit yielded about 19kg of suspected methamphetamine, or Ice.
Police subsequently arrested the younger brother, who was driving a van near the building, and seized an additional 2kg of Ice and one litre of the drug in liquid form.
The brothers, who worked as a security guard and delivery driver respectively, were said to have been recruited by a drug syndicate to receive and manage shipments from the US.
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By Danny Mok
Two brothers have been arrested in Hong Kong for allegedly handling HK$12 million worth of the drug Ice brought in from the United States and operating a storage facility.
Police said they arrested the suspects, aged 52 and 45, on New Year’s Eve following an extensive investigation that led officers to uncover a drug storage operation in a commercial building in Tai Kok Tsui.
Senior Inspector Jacky Liong Chun-hin of the force’s narcotics bureau said on Wednesday that officers apprehended the elder brother as he left the premises in the afternoon.
A search of the unit yielded about 19kg of suspected methamphetamine, or Ice.
Police subsequently arrested the younger brother, who was driving a van near the building, and seized an additional 2kg of Ice and one litre of the drug in liquid form.
The brothers, who worked as a security guard and delivery driver respectively, were said to have been recruited by a drug syndicate to receive and manage shipments from the US.
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Is US naval activity in Philippine waters to counter China’s Typhon objection?
By Jeoffrey Maitem
A US Navy ship’s recent appearance near the coastline of the Philippines could be an attempt to track Chinese submarine movement in disputed waters and also signal Washington’s unwavering support for its longtime ally over the deployment of the Typhon missile system, according to observers.
In the early hours of December 29, the USNS Victorious was identified near Luzon island, according to SeaLight director and retired US Air Force Colonel Ray Powell, days after Beijing warned Manila against retaining the Typhon stationed in the Philippines since last April for joint military exercises.
The American surveillance ship is usually deployed for underwater surveillance and submarine-hunting missions.
“While the Chinese coastguard patrols around Scarborough Shoal in the Philippines, the [US] ocean surveillance ship patrols nearby,” Powell posted on social media platform X.
In a report by the Philippine Daily Inquirer, Powell was quoted as saying that Victorious was also last seen in the same area in September.
Muhammad Faizal Bin Abdul Rahman, a research fellow at S. Rajaratnam School of International Studies in Singapore, told This Week in Asia the ship was likely on a mission to detect Chinese submarines.
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By Jeoffrey Maitem
A US Navy ship’s recent appearance near the coastline of the Philippines could be an attempt to track Chinese submarine movement in disputed waters and also signal Washington’s unwavering support for its longtime ally over the deployment of the Typhon missile system, according to observers.
In the early hours of December 29, the USNS Victorious was identified near Luzon island, according to SeaLight director and retired US Air Force Colonel Ray Powell, days after Beijing warned Manila against retaining the Typhon stationed in the Philippines since last April for joint military exercises.
The American surveillance ship is usually deployed for underwater surveillance and submarine-hunting missions.
“While the Chinese coastguard patrols around Scarborough Shoal in the Philippines, the [US] ocean surveillance ship patrols nearby,” Powell posted on social media platform X.
In a report by the Philippine Daily Inquirer, Powell was quoted as saying that Victorious was also last seen in the same area in September.
Muhammad Faizal Bin Abdul Rahman, a research fellow at S. Rajaratnam School of International Studies in Singapore, told This Week in Asia the ship was likely on a mission to detect Chinese submarines.
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40,000 punished in China’s medical corruption crackdown, including over 350 top figures
By Xinlu Liang
More than 350 prominent figures in China’s healthcare industry were punished in last year’s anti-corruption campaign as Beijing doubled down on its sweeping crackdown.
According to a report from the National Supervisory Commission (NSC), China’s top anti-corruption watchdog, Beijing has worked to “thoroughly investigate” cases in which healthcare professionals exploit medical services and misuse insurance funds.
It has also taken strong action against unethical practices in the industry, such as kickbacks and accepting bribes, according to the report.
The NSC delivered the report to the National People’s Congress (NPC) Standing Committee, China’s top legislative body, on December 22.
Last year, there were 52,000 medical corruption cases filed nationwide, with 40,000 people punished and 2,634 referred for prosecution, the NSC report said.
China’s anti-corruption efforts in the medical sector have intensified over the past two years due to public outrage over misconduct and unethical practices.
Recognising systemic issues such as the misuse of medical insurance funds and pharmaceutical kickbacks, Beijing has implemented rigorous regulatory measures and carried out wide-ranging investigations targeting corruption in the industry at every level.
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By Xinlu Liang
More than 350 prominent figures in China’s healthcare industry were punished in last year’s anti-corruption campaign as Beijing doubled down on its sweeping crackdown.
According to a report from the National Supervisory Commission (NSC), China’s top anti-corruption watchdog, Beijing has worked to “thoroughly investigate” cases in which healthcare professionals exploit medical services and misuse insurance funds.
It has also taken strong action against unethical practices in the industry, such as kickbacks and accepting bribes, according to the report.
The NSC delivered the report to the National People’s Congress (NPC) Standing Committee, China’s top legislative body, on December 22.
Last year, there were 52,000 medical corruption cases filed nationwide, with 40,000 people punished and 2,634 referred for prosecution, the NSC report said.
China’s anti-corruption efforts in the medical sector have intensified over the past two years due to public outrage over misconduct and unethical practices.
Recognising systemic issues such as the misuse of medical insurance funds and pharmaceutical kickbacks, Beijing has implemented rigorous regulatory measures and carried out wide-ranging investigations targeting corruption in the industry at every level.
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Hong Kong’s property market to maintain momentum after deals hit 3-year high
By Salina Li
Hong Kong’s property transactions are expected to gather pace after hitting a three-year high in 2024 on the back of improving sentiment because of factors like higher loan values, interest-rate cuts and demand from the investment-migration scheme.
A total of 67,662 deals for new and lived-in homes, offices, shops, industrial units and car parking spaces were completed as of December 30, up 16 per cent from 58,035 transactions in 2023 and the highest since 96,133 in 2021, according to data compiled by Midland Realty on Monday.
“With the rebound in the number of deals, the overall registered property value last year exceeded HK$530 billion (US$68.2 billion), an increase of more than 10 per cent from HK$477.9 billion logged in 2023,” said Buggle Lau Ka-fai, chief analyst at Midland.
However, overall transactions last year were 6 per cent lower than the five-year average of 72,380 per year from 2019 to 2023, while the value was 20 per cent lower than annual average over the same period at HK$654 billion, he added.
The increase in overall real estate registrations last year was led by the residential market, according to the property agency.
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By Salina Li
Hong Kong’s property transactions are expected to gather pace after hitting a three-year high in 2024 on the back of improving sentiment because of factors like higher loan values, interest-rate cuts and demand from the investment-migration scheme.
A total of 67,662 deals for new and lived-in homes, offices, shops, industrial units and car parking spaces were completed as of December 30, up 16 per cent from 58,035 transactions in 2023 and the highest since 96,133 in 2021, according to data compiled by Midland Realty on Monday.
“With the rebound in the number of deals, the overall registered property value last year exceeded HK$530 billion (US$68.2 billion), an increase of more than 10 per cent from HK$477.9 billion logged in 2023,” said Buggle Lau Ka-fai, chief analyst at Midland.
However, overall transactions last year were 6 per cent lower than the five-year average of 72,380 per year from 2019 to 2023, while the value was 20 per cent lower than annual average over the same period at HK$654 billion, he added.
The increase in overall real estate registrations last year was led by the residential market, according to the property agency.
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In a Trump 2.0 trade war against China, Vietnam stands to benefit again
By James Borton
April 30 will mark 50 years since the fall of Saigon, effectively ending the Vietnam war. Since then, US-Vietnam relations have evolved into a strong, multifaceted partnership, defined by shared economic interests, strategic alignment and mutual respect.
Once adversaries, the two nations now collaborate on a wide range of issues, from trade and investment to regional security and climate change. With Donald Trump’s return to the White House, Vietnam, as a burgeoning manufacturing centre and vital US trading partner, could benefit significantly from US-China tensions.
As the US-China geopolitical and economic competition intensifies, Vietnam stands out as a strategic and economic ally in the Indo-Pacific, leveraging its dynamic economy and strategic location to balance China’s influence while maintaining its independence.
This deepened cooperation reflects the transformation of a historically fraught relationship into a forward-looking partnership, underscoring the resilience of diplomacy and shared commitment to regional stability.
US-China tensions have escalated over the past decade, marked by trade wars, disputes over intellectual property and military stand-offs in the South China Sea. Under Trump’s presidency from 2017-2021, the US implemented tariffs on hundreds of billions of dollars of Chinese goods, prompting American companies to rethink their reliance on China-based supply chains.
The incoming White House administration has emphasised its commitment to punitive trade policies targeting China, signalling a continuation and intensification of its decoupling from Beijing.
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By James Borton
April 30 will mark 50 years since the fall of Saigon, effectively ending the Vietnam war. Since then, US-Vietnam relations have evolved into a strong, multifaceted partnership, defined by shared economic interests, strategic alignment and mutual respect.
Once adversaries, the two nations now collaborate on a wide range of issues, from trade and investment to regional security and climate change. With Donald Trump’s return to the White House, Vietnam, as a burgeoning manufacturing centre and vital US trading partner, could benefit significantly from US-China tensions.
As the US-China geopolitical and economic competition intensifies, Vietnam stands out as a strategic and economic ally in the Indo-Pacific, leveraging its dynamic economy and strategic location to balance China’s influence while maintaining its independence.
This deepened cooperation reflects the transformation of a historically fraught relationship into a forward-looking partnership, underscoring the resilience of diplomacy and shared commitment to regional stability.
US-China tensions have escalated over the past decade, marked by trade wars, disputes over intellectual property and military stand-offs in the South China Sea. Under Trump’s presidency from 2017-2021, the US implemented tariffs on hundreds of billions of dollars of Chinese goods, prompting American companies to rethink their reliance on China-based supply chains.
The incoming White House administration has emphasised its commitment to punitive trade policies targeting China, signalling a continuation and intensification of its decoupling from Beijing.
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Russia’s uncovered secret war plans target 160 sites in Japan and South Korea
By Julian Ryall
The Russian military has identified 160 priority targets in Japan and South Korea in the event of a conflict with Nato expanding into East Asia, according to secret documents obtained by the Financial Times.
While many targets include legitimate military sites like airfields, radar installations and naval installations, the list also features civilian infrastructure such as nuclear power plants, factories, and transport tunnels.
Deliberately attacking such civilian sites, in the same way Russian forces have done in Ukraine, would constitute a war crime, one analyst said.
In a story published on Tuesday, the British paper reported on 29 leaked Russian military documents used for training officers for potential conflicts in northeastern Asia, shared by “Western sources.”
Although the documents are dated from 2008 to 2014, James Brown, an international relations professor at Temple University in Tokyo, who specialises in Russian affairs, told This Week in Asia that the core elements of Russian strategy and targeting data are likely to remain relevant, albeit updated and enhanced with more recent information.
“Of course, the Russians will have plans for targets in the event of a war breaking out because they need to know what they have to hit,” Brown said.
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By Julian Ryall
The Russian military has identified 160 priority targets in Japan and South Korea in the event of a conflict with Nato expanding into East Asia, according to secret documents obtained by the Financial Times.
While many targets include legitimate military sites like airfields, radar installations and naval installations, the list also features civilian infrastructure such as nuclear power plants, factories, and transport tunnels.
Deliberately attacking such civilian sites, in the same way Russian forces have done in Ukraine, would constitute a war crime, one analyst said.
In a story published on Tuesday, the British paper reported on 29 leaked Russian military documents used for training officers for potential conflicts in northeastern Asia, shared by “Western sources.”
Although the documents are dated from 2008 to 2014, James Brown, an international relations professor at Temple University in Tokyo, who specialises in Russian affairs, told This Week in Asia that the core elements of Russian strategy and targeting data are likely to remain relevant, albeit updated and enhanced with more recent information.
“Of course, the Russians will have plans for targets in the event of a war breaking out because they need to know what they have to hit,” Brown said.
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