Hong Kong raised its key interest rate in line with the Federal Reserve’s aggressive move, although the city’s major banks have refrained from following suit, giving consumers and businesses little room to breathe. The Hong Kong monetary authority raised the key interest rate by 75 basis points to 2%, just hours after the Fed raised. […]
Tag: Hong Kong
China: Demonstrations on the 33rd anniversary of the bloody crackdown in Tiananmen Square are illegal
China is preparing today to mark the 33rd anniversary of the bloody crackdown in Beijing’s Tiananmen Square without the slightest incident in honor of the victims, especially in Hong Kong, where police have warned that any gathering will be illegal. For 33 years the Chinese authorities have been doing everything they can to erase the […]
China: The next governor of Hong Kong is going to Beijing
The next head of Hong Kong’s executive branch, John Lee, is expected to travel to Beijing today to meet with Chinese President Xi Jinping and confirm his appointment, about a month before taking office. The 64-year-old former head of security in Hong Kong, who oversaw the crackdown on the anti-democracy movement, was appointed in early […]
Hong Kong: Decreases growth estimates for 2022
Hong Kong’s economy is expected to grow at a slower pace than initially estimated for 2022, as worse-than-expected first-quarter performance and deteriorating export prospects offset the expected gradual recovery in economic activity. Estimates for the country’s GDP were revised lower to 1% -2% from 2% -3.5% as announced in the budget, the government said. Underlying […]
Hong Kong: The new governor is supported by China, John Lee
Hong Kong has formally endorsed John Lee as its next governor, ushering in an era of more direct Chinese political control. According to Bloomberg, 64-year-old John Lee won 1,416 votes out of about 1,460 voters on Sunday, while eight voted against him, according to the polling station at the Hong Kong Convention and Exhibition Center. […]
Hong Kong: John Lee, former police officer, China’s new elected mayor
Former Hong Kong security chief John Lee is preparing to take over the reins of the city after Beijing assessed its role in suppressing the pro-democracy movement. Lee, the 64-year-old sole candidate for the post of chief executive of Hong Kong, will be appointed on Sunday by a panel of about 1,500 personalities selected by […]
Hong Kong: John Lee is expected to run for governor
John Lee, the second-highest-ranking official in Hong Kong, is expected to step down in the run-up to the election of a new governor, TVB reported, citing an unknown source. Lee, 64, was a security official during the often violent pro-democracy demonstrations in Hong Kong in 2019. The head of the Hong Kong government, Kari Lam, […]
China: Hong Kong Prime Minister Plans to Reconsider Strict Coronavirus Restrictions
The head of the Hong Kong government, Kari Lam, said today that she plans to reconsider the restrictions on COVID-19 tomorrow, a few days after admitting that many financial institutions are “losing patience” with the metropolitan’s policies. coronavirus pandemic. The Chinese-dominated city has imposed some of the strictest measures in the world to deal with […]
Hong Kong: 300,000 people are in quarantine
About 300,000 people in Hong Kong are currently in quarantine in their homes, Governor Kari Lam said in a press conference today, according to Bloomberg. Hong Kong has stepped up support for isolated people due to the large number and will start sending medical packages to patients with coronavirus from Monday, according to officials. The […]
Hong Kong: Supermarket shelves empty for fear of new lockdown
Panic markets in Hong Kong over fears of a new lockdown due to the outbreak of coronavirus have hit immigrants and refugees living in the former British colony particularly hard as they can only dispose of the aid they receive in supermarkets where they usually go. refugees and members of humanitarian organizations themselves say. Hong […]