Politics

After consecutive operating deficits, the operating account has returned to profit. Simultaneously, the consolidated account records a HK$2.9 billion (US$370.6 million) surplus for 2025/26, signalling stability. This turnaround is driven largely by a buoyant stock market and a stabilising property sector, reviving stamp duty revenues and investment income.This provides fiscal space for the government to put money back in Hongkongers’ pockets. Marking the first adjustment to various tax allowances since the 2016/17 financial year, this move fully shows the government’s resolve and commitment.Increasing the basic and married person’s allowances by 10 per cent helps shield the workforce from the cumulative inflation of the past decade. Additionally, doubling the ceiling of the one-off tax red...

Panama is aiming to mitigate geopolitical risks and respond to US pressure by adopting a multi-operator model for its strategic canal after nullifying the concession granted to Hong Kong’s CK Hutchison to operate two of the ports, analysts have said.Panamanian President Jose Raul Mulino was reported to have vowed on Thursday that his country would “never again” grant concession contracts to run the Balboa and Cristobal terminals at each end of the Panama Canal to a single company.The country’s Supreme Court of Justice last week stripped the rights from the Panama Ports Company (PPC), a subsidiary of the conglomerate led by Hong Kong billionaire Li Ka-shing’s family.The PPC has managed the ports since 1997 and renewed the contract for 25 years in 2021.While Beijing slammed the court’s decis...

A district councillor who illegally parked in Hong Kong has been warned to adhere to higher standards, a minister has revealed.Secretary for Home and Youth Affairs Alice Mak Mei-kuen told reporters on Saturday that the Kwai Tsing district officer had reminded Chau Kit-ying verbally and in writing to act in accordance with the public’s expectations.“We demand that each district councillor perform their duty responsibly, and speak and act prudently,” Mak said. “Their actions must fulfil the public’s expectations of the district council and its councillors.”Chau apologised after a photo showing her black car parked in a fire exit lane at Shek Foon House of Shek Lei (II) Estate went viral.Kwai Chung Media, a district-based community news platform, reported that some neighbourhood residents had...

Hong Kong’s CK Hutchison could find it hard to secure compensation from Panamanian authorities over their decision to nullify its port operations, legal experts have said, noting that the arbitral tribunal it engaged lacks enforcement power and the issuance of damages may depend on the country’s own courts.The conglomerate, led by tycoon Li Ka-shing’s family, said on Wednesday that its subsidiary, the Panama Ports Company (PPC), commenced arbitration against Panamanian authorities a day earlier.The move was in response to a judgment of the country’s top court that declared PPC’s concession to operate two Panama Canal ports to be “unconstitutional”.CK Hutchison said the decision to start arbitration was based on the concession contract and the Rules of Arbitration of the International Chamb...

At this time of year, Financial Secretary Paul Chan Mo-po’s top priority is finalising the Hong Kong government’s budget for 2026-27, balancing requests for incentives and welfare against calls for a return to fiscal prudence.For decades, budget speeches have followed a familiar structure: a review of past performance, near- and medium-term forecasts, support measures for industries and social services, a report on the government’s fiscal position and financial estimates for the coming year. The public typically looks for “sweeteners” – tax rebates or subsidies – and for any fee or duty adjustments to meet policy goals.This year, however, Chan should enrich that format by explaining the macroeconomic rationale behind Hong Kong’s new industrial-policy direction: large-scale investment in in...

Hong Kong’s U-turn on its seat belt rule for buses is a sobering reminder to lawmakers that they must meet higher standards even under the “executive-led” governance model recently underlined by Beijing, according to several policy experts.They said some lawmakers had been complacent, prioritising speed over efficacy in policymaking in a “patriots-only” legislature with no opposition presence, and would have to share the responsibility for administrative missteps.Xia Baolong, director of the Hong Kong and Macau Affairs Office, said in a seminar last month that the city’s executive, legislative and judicial branches should perform “on the same stage” with “coordination and cooperation” as key principles of its executive-led system.He stressed that the executive leadership required active su...

To err is human. But when an error funnels through a system that has safeguards, the error is supposed to be caught and rectified. Checks and balances are written into the Basic Law, Hong Kong’s mini constitution.Hong Kong has an executive-led system, which means it is the executive branch’s job to formulate and implement policies, as well as “draft and introduce bills, motions and subordinate legislation”. The legislature’s job is “to enact, amend or repeal laws”.Therefore, lawmakers are the gatekeepers when it comes to ensuring the laws they enact are good, not only in spirit but in the letter of the law. Regardless of intentions, legislation must be worded correctly, at the very least.So what has transpired over something as simple as requiring people to wear seat belts on buses proves ...

Hongkongers who were minors at the time of the 1997 handover to China will be eligible to apply for the British National (Overseas) pathway to UK citizenship independently of their parents, with 26,000 arrivals expected under the expanded scheme in the next five years.The move was a response to the 20-year prison sentence handed to former Hong Kong media boss Jimmy Lai Chee-ying for convictions of national security-related charges in the city on Monday morning.In a statement on Monday, the Home Office, Britain’s interior ministry, said the expansion of the scheme “honours the UK’s historic commitment to the people of Hong Kong” following the “continuing deterioration of rights and freedoms” in the former British colony.“Adult children of [BN(O)] status holders who were under 18 at the time...

Beijing has issued a white paper on Hong Kong’s role in safeguarding national security under the “one country, two systems” principle, stressing that the city’s struggle on this front “is persistent” and a “long-term and enduring task”.Chief Executive John Lee Ka-chiu said on Tuesday that the paper, published a day after former media boss Jimmy Lai Chee-ying was sentenced to 20 years in prison for national security crimes, served as a stern warning to “traitors who betrayed the country and Hong Kong”.According to the five‑chapter document issued by the State Council, the central government bears the fundamental responsibility for Hong Kong’s national security affairs, while the city must also fulfil its constitutional duty in this regard.“The struggle to safeguard national security in Hong...

Hong Kong investors are reviewing their stakes in Panama following a dispute over a concession held by a subsidiary of CK Hutchison to operate two ports in the country, the city’s leader has said, pledging to work with Beijing to push back.Chief Executive John Lee Ka-chiu on Tuesday also urged Panamanian authorities to ensure “fair and reasonable” treatment for Hong Kong firms operating in the country.“The incident has undermined investors’ confidence in Panama’s business environment, and [they] will review current and future investment in the country,” he said before a weekly meeting of the key decision-making Executive Council.“Hong Kong enterprises’ operation and investment in Panama should be entitled to fair and reasonable treatment and protection.”Lee’s remarks came days after commer...