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South China Morning Post

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MTR Corp boss Jacob Kam elected chairman of Hong Kong’s largest business chamber

The non-executive chairman of Hong Kong rail giant the MTR Corporation has been elected as the new head of the city’s largest business chamber for a one-year term. Jacob Kam Chak-pui, 64, took over as chairman of the Hong Kong General Chamber of Commerce on Wednesday following an election among members, expressing “strong confidence” in the city’s economic development. Kam, previously the chamber’s vice-chairman, said he believed the market outlook was rebounding as the global macroeconomic...

South China Morning Post

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Hong Kong pitches Northern Metropolis as ASEAN gateway to Greater Bay Area

[The content of this article has been produced by our advertising partner.] Hong Kong is stepping up efforts to position the Northern Metropolis as a platform connecting ASEAN businesses with opportunities across the Greater Bay Area, as diplomats, chamber representatives and business leaders from Southeast Asia were brought on a government-led tour of the mega-development project. The nearly 70-strong delegation, organised by the Hong Kong-ASEAN Foundation (HKAF) in conjunction with the...

RTHK News (Hong Kong)

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HKTDC seals three agreements in Kazakhstan

The Hong Kong Trade Development Council (HKTDC) on Tuesday signed memorandums of understanding with three organisations in Kazakhstan. The individual agreements were made with Atameken, the National Chamber of Entrepreneurs of Kazakhstan; Satbayev University, a leading technical university in Almaty; and the Association of Consulting and Trading Companies. Chief Executive John Lee and Kazakhstan's Deputy Prime Minister and Minister of National Economy Serik Zhumangarin witnessed the exchange of documents at a luncheon. Zhumangarin said he is confident that the partnership between the two sides will deepen in the future. “Overall, the visit of the esteemed John Lee and the entire delegation is a practical confirmation of mutual trust, business interests and readiness to move towards the implementation of concrete projects,” he said. “I am confident that today's meeting will become an important step towards launching new joint projects, attracting investments and expanding business ties.” Several business entities among the delegation also signed individual memorandums of understanding with their counterparts in Kazakhstan, covering sectors such as finance, asset management, aviation, media, agriculture and new energy. A number of the agreements were signed by state-backed investment bank China International Capital Corporation Limited (CICC) as well as their Kazakh partners, including one with the Sovereign Wealth Fund Samruk-Kazyna. The Hong Kong Airport Authority and Cathay Pacific also secured operational agreements with Almaty International Airport. Cathay announced that it plans to operate three direct flights per week connecting Hong Kong to Almaty, starting in the first quarter of next year. The Chinese Manufacturers' Association of Hong Kong, Federation of Hong Kong Industries and Hong Kong General Chamber of Commerce also secured deals. Edited by Thomas McAlinden

South China Morning Post

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Philippine Senate deadlock deepens after Estrada arrest, complicating Sara Duterte’s trial

The arrest of Philippine Senator Jinggoy Estrada has deepened a stand-off in the Senate, leaving the chamber split between two 11-member blocs and raising the risk of a wider political crisis, analysts told This Week in Asia. They warned the stalemate could stall legislation, delay military appointments and complicate Vice-President Sara Duterte-Carpio’s impeachment trial, leaving the Senate’s basic ability to do business hostage to a factional power struggle. Estrada, chairman of the Senate...

South China Morning Post

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Philippine lawmaker charged with corruption to surrender

A Philippine senator said he will surrender to authorities after a special anti-corruption court ordered his arrest on Monday on a non-bailable charge of plunder after he allegedly pocketed a huge kickback in a flood-control project in the latest crisis to hit the upper chamber. The special Sandiganbayan anti-corruption court had initially issued a warrant for Senator Jinggoy Estrada’s arrest on Friday on a corruption charge that was bailable. He then surrendered and was released on bail and...

RTHK News (Hong Kong)

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HK delegation finds 'tremendous' Kazakh opportunities

A delegation led by Chief Executive John Lee has wrapped up a productive meeting in Kazakhstan, with business leaders describing the talks as "a very good start" and flagging strong mutual interest in investment and cooperation. The delegation participated in the Roundtable Forum on Economic Development, Trade and Investment Opportunities on Monday morning. Jeffrey Lam, chairman of the Hung Shui Kiu Industry Park's board of directors, said the delegation met with numerous companies and representatives from Kazakhstan who showed keen interest in investing in Hong Kong — while also seeking to attract Hong Kong firms to invest in their markets. "We felt the opportunity invested here is tremendous," he said. Lam, who is also an executive councillor, added the delegation is looking forward to hosting Kazakh counterparts in Hong Kong, potentially helping them set up factories, family offices or regional headquarters that could serve as a platform to expand into the mainland and other Asian countries. He said discussions from the forum covered a wide range of sectors, from industries to gold trading. Lam confirmed he would be signing several memoranda of understanding (MOUs), including a joint cooperation agreement with the largest business chamber in Kazakhstan and the Hong Kong General Chamber of Commerce. Another MOU in the technology sector, he said, is also planned. “The MOU will breed a lot of cooperation in areas of manpower exchange, information exchange, so on and so forth,” he said. “Business chambers, they are very important to trading.” Meanwhile, Frederick Ma, chairman of the Hong Kong Trade Development Council, described the presentations from Kazakh partners as "very interesting," spanning logistics, hotel operations and other industries. "There are lots of opportunities for Kazakhstan and Hong Kong and the Chinese mainland to cooperate," Ma said. "This is an excellent opportunity for us to get to know each other much better." Ma revealed that Kazakh partners are already planning a conference and roundtable in Hong Kong in mid-June, adding the delegation looks forward to a closer relationship between the two sides. He praised the chief executive's decision to lead such a large group to Central Asia, calling it "wonderful" as it allows businesspeople from Hong Kong and the mainland to mingle with their Kazakh counterparts. Edited by Tony Sabine

South China Morning Post

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EU firms in China starting to feel less gloomy as Beijing offers stability: report

European companies’ confidence in the Chinese market is showing signs of rebounding for the first time since 2022, as Beijing is increasingly perceived as a “champion” of stability amid rising global volatility, according to a survey released on Wednesday. After years of spiralling pessimism, the European Union Chamber of Commerce in China found that “the intensity of the deterioration in confidence in China’s business environment has eased” among its members over the past year. In the group’s...

South China Morning Post

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Chinese scientists grow heart’s ‘master conductor’ that could replace pacemaker

Scientists in Shanghai have used stem cells to create the world’s first laboratory-grown sinoatrial node – the tiny structure that acts as the heart’s natural pacemaker. Capable of beating autonomously, the organoid is a breakthrough that researchers say could transform cardiac disease research and drug screening. The heart’s ability to beat continuously and rhythmically depends on the sinoatrial node, which is nestled inside the right atrial chamber. Acting as the heart’s “master conductor”,...

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타임라인 키워드

MTR Corp boss Jacob Kam elected chairman of Hong Kong’s largest business chamber

Hong Kong pitches Northern Metropolis as ASEAN gateway to Greater Bay Area

HKTDC seals three agreements in Kazakhstan

Philippine Senate deadlock deepens after Estrada arrest, complicating Sara Duterte’s trial

Philippine lawmaker charged with corruption to surrender

HK delegation finds 'tremendous' Kazakh opportunities

EU firms in China starting to feel less gloomy as Beijing offers stability: report

Chinese scientists grow heart’s ‘master conductor’ that could replace pacemaker