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The Latest Breaking News from Gary Ng

Swiss unfazed by Hong Kong’s rise as wealth hub

ZURICH - Though Hong Kong has overtaken Switzerland as the number one in cross-border wealth management, rather than enter panic mode, Swiss banks seem unruffled — feeling it bolsters the case against looming tighter banking regulations.

Bangkok Post

China's Tencent to allow PayPal payments through its WeChat networks

Chinese tech giant Tencent is enabling PayPal users to pay with QR codes across China through its WeChat Pay network. This move aims to attract more foreign tourists by simplifying cashless transactions. Initially available to US PayPal users, the feature will expand to other markets.

The Economic Times

In a tourist-friendly move, China's Tencent to allow PayPal payments through its WeChat networks

Tencent says users of PayPal will be able to make payments in China using QR codes through WeChat Pay's extensive merchant network, in a tourism friendly move

The Independent UK

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China's global exports are booming amid renewed trade disputes with US

Trade numbers confirm that Chinese exports to the United States fell, but jumped globally, as a new 100% tariff threat from US President Donald Trump promises a rocky patch ahead of trade negotiations between the world's two strongest economies.

Euronews

What are Trump’s plans for tariffs on China, Canada and Mexico?

US president-elect has promised to impose tariffs for as long as drugs and undocumented migrants flow into the country.

Al Jazeera

China's Huawei To Launch 'Milestone' Smartphone With Homegrown OS

Chinese tech giant Huawei will on Tuesday launch its first smartphone equipped with a fully homegrown operating system, a key test in the firm's fight to challenge the dominance of Western juggernauts.

International Business Times

China’s small manufacturers anguish over Trump’s tariff plans

Republican candidate’s plans to slap tariffs of 60 percent or more on imports has businesses in China worried.

Al Jazeera

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Analysts Warn More Detail Needed On New China Economic Measures

Analysts gave a cautious welcome to China's announcement Saturday of fresh fiscal stimulus to revive its ailing economy but warned that more details -- and specific headline figures -- were needed before its effect could be fully assessed.

International Business Times

Investors, Analysts Eye Bigger China Stimulus At Saturday Briefing

Investors and analysts expect China to unveil billions of dollars in new stimulus for its troubled economy Saturday as officials battle multiple headwinds including a prolonged housing crisis and sluggish consumption.

International Business Times

Year of the Dragon: China faces critical moment in push to revive economy

Analysts say Beijing needs to roll out measures to stimulate greater domestic consumption amid slowing growth.

Al Jazeera

After bumpy recovery, China’s economy faces serious headwinds in 2024

The world’s second-largest economy is heading into 2024 on a precarious footing amid deep-seated structural issues.

Al Jazeera

China banks pledge $162 billion in credit to developers, shares rally

China's biggest commercial banks have pledged at least $162 billion in fresh credit to property developers, bolstering recent regulatory measures to ease a stifling cash crunch in the sector and triggering a rally in property shares.

Reuters

Deep in recession, Hong Kong eyes comeback with rugby, bank meet

The financial centre is hoping to convince the world it is back in business after nearly three years of pandemic curbs.

Al Jazeera

Hong Kong to end quarantine after outcry from firms, residents

Move to lift travel restriction comes amid fears the former British colony is losing its competitive edge.

Al Jazeera

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Al Jazeera

Hong Kong leader ‘exploring’ easing of controversial COVID curbs

John Lee says changes to controversial hotel quarantine scheme should not cause “chaos or confusion”.

Al Jazeera

Hong Kong cuts hotel quarantine to 3 days as city’s image slumps

Announcement comes amid mounting frustration with international financial centre’s isolation as world lives with COVID.

Al Jazeera

Hong Kong suspends COVID flight bans that fuelled expat exodus

Restrictions eased as authorities cite ‘social chaos’ and flight ban’s negative effect on returning students

Al Jazeera

US, China talk trade, supply chains as Biden weighs tariff cuts

United States Treasury Secretary Janet Yellen raises concerns about China’s ‘unfair, non-market’ economic policies.

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Al Jazeera

China pledges support for ailing economy, analysts doubt impact

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth.

Al Jazeera

‘Localised’ recessions? China’s economy teeters amid lockdowns

Economists warn of negative economic growth in certain sectors and regions if ‘zero COVID’ policy continues.

Al Jazeera

Hong Kong to open beaches, extend nightlife as COVID curbs ease

Financial hub’s coronavirus restrictions have battered business and prompted tens of thousands of residents to leave.

Al Jazeera

Hong Kong faces brain drain as talent flees ‘zero COVID’ controls

International financial centre has seen a net outflow of almost 157,000 residents since the beginning of 2022.

Al Jazeera

Hong Kong unveils $22bn budget as ‘zero COVID’ hammers businesses

Finance chief admits businesses facing ‘intense pressure’ amid restrictions that have shut down much of the city.

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