In this issue, we highlight the state of Hong Kong’s workforce, property, and retail sectors amidst the fifth wave of the pandemic. The region is seeing a shrinking talent pool that calls for new strategies to reel in potential candidates. In the residential property sector, the rent control bill aims to bury abusive ‘coffin home’ landlords. The retail industry is also given an ultimatum to go cashless or ‘pay the price’.

We also feature YAS MicroInsurance, one of the first insurtech firms in Hong Kong to insure NFTs. See the full story on page 16. On page 20, see the full list of the latest rankings of Hong Kong’s esteemed insurance firms.

In this issue, we are proud to honour Hong Kong’s exceptional enterprises at the High Flyers Awards 2021 (page 22), the top teams, executives, and innovations at the Management Excellence Awards 2021 (page 24), the outstanding organisations in the HKB Greater Bay Area Enterprise Awards (page 30), the top companies in Made in Hong Kong and Designed in Hong Kong Awards 2021 (page 36), and the winners of the 4th Asian Export Awards (page 42). Congratulations to all!

Read on and enjoy!

Kick off the year with investments in alternative space, healthcare, renewable energy and more as recommended by experts on page 24.

Welcome to our annual property issue, which finds that almost 5% to 6% of the Hong Kong market's purchasing power has gone due to interest rate hikes. The rising interest rates, alongside an additional 30% stamp duty, have posed challenges for foreigners looking to purchase properties in the city, a topic explored further on page 30.

Millennials have been paving a new path for multiple industries – from the art market to the financial sphere. Find out on page 24 how this generation invigorates the art market, with renowned auction houses like Christie's, Sotheby's, and Phillips abuzz as these new collectors bask in the limelight.

Deep tech is increasingly getting popular in many sectors. Emerging startups are developing deep-learning applications to enhance the productivity of traditional processes, and experts believe that more startups will build upon their business models on generative AI applications such as text bot ChatGPT. In this year’s Hottest Startups list, we feature companies categorised as deep tech. See them and the rest of this year’s outstanding startups…

2023 is predicted to be a year of hope and prosperity. As we look forward to the abundant offerings of the New Year, we give you eight investment ideas from Hong Kong’s financial experts to achieve affluence in the Year of the Water Rabbit.

Experts’ 2023 outlook on Hong Kong’s property sector may entice investors to reconsider the city as a property investment destination. The property market is poised to end its downcycle in 2022 and enter 2023 with hopes of normalisation. Investors keen on putting their money into Hong Kong real estate must keep their eye on hotels in particular. Mainland’s border reopening will also be crucial for the luxury property market in 2023.

In this issue, we highlight the increasingly shrinking talent pool in Hong Kong. Banks are facing ‘brain drain’ as talents flee amidst strict travel restrictions, compelling them to push up offers and counter offers to their highest rate in a decade. The region also aims to regain its crown as the favoured arbitration hub with outcome-related fee structure bill.

We chatted with CLP Power COO Paul Tomlinson on the fate of CLP Power amidst net-zero transitions. CLP Power was in the middle of its energy transition journey when Hong Kong Government declared its intention to be carbon neutral before 2050. Read the exclusive interview on page 36.

This year marks the 25th anniversary of the establishment of the Hong Kong Special Administrative Region of the People’s Republic of China. Hong Kong Business wishes everyone a most festive celebration of this important milestone. Read on and enjoy!

For a prosperous New Year, we give you six ideas on where to best invest your money in 2022. Hong Kong’s brick-and-mortar retailers
should consider riding the e-commerce wave, especially after the global events of the past two years. Meanwhile, the Hong Kong property market is on the cusp of full recovery this year thanks to the strengthened demand in the retail and industrial property sectors.

China’s new foreign-friendly financial market is promising, but recent regulatory crackdown may have driven foreign firms to take a wait-and-see approach. Experts also weigh in on why banks need more tech experts in their boardrooms.

We chatted with Livi Bank CEO David Sun on making banking more rewarding with its buy now, pay later services (page 14). We also sat down with Peter du Pont, Managing Partner for Asia Clean Energy Partners to discuss direct power purchase agreements and why they should be scaled up in response to the lack of open access to grid generators (page 32). Finally, we chatted with Charles Hung, CEO of Blue, Hong Kong’s first digital life insurer, to discuss how the company has revolutionised Hong Kong’s stagnant insurance industry (page 36).

The issue highlights Hong Kong's real estate, particularly how it is faring from the aftermath of border closures and social restrictions. 

The first cover story hones in on the recovery of the office sector amidst high vacancies and limited expansions; whilst the second focuses on how the luxury residential market was affected by the decline of expats coming into the special administrative region. 

The issue's architecture analysis article shows how architects plan to rebuild Hong Kong into a future-ready city: greener and has better integration with the Greater Bay Area.

Furthermore, get to know the winners of the HKB National Business Award, HKB International Business Award, China International Business Awards, and China Technology Excellence Awards of 2021 with its special event coverages.

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Issue 72

Issue 71

Issue 70

Issue 69

Issue 68

Issue 67

Issue No. 66

Issue No. 65

Issue No. 64

Hong Kong Business (HKB) is the only English-language business magazine dedicated to Hong Kong and China. Essential coverage includes the economy, investment, manufacturing, technology, travel and trade, plus special overseas features with in-depth reporting on bilateral economic ties with Hong Kong. No other publication has relevant content to business decision makers as Hong Kong Business. With an experienced and dedicated team of seasoned journalists and expert opinions from market leaders, Hong Kong Business is the definitive magazine for Hong Kong’s business elite.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

Hong Kong Business Magazine - Issue No. 66

Hong Kong Business Magazine - Issue No. 66

In this issue

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