Le Journal

Mainland China’s billionaires have tightened their grip as Asia-Pacific’s wealthiest after their combined fortunes swelled to nearly US$1.8 trillion, with electric-vehicle (EV) maker BYD’s founder Wang Chuanfu and bubble tea chain Mixue’s bosses among the biggest drivers of that growth, according to a UBS report. Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early...

Construction firms have started removing scaffold netting across Hong Kong to meet a three-day government deadline, after suspected false safety certificates for mesh were found at two building sites in the wake of the deadly Tai Po fire that claimed at least 159 lives. The mesh, commonly draped over bamboo scaffolding erected at buildings under construction or renovation, came under heavy scrutiny after authorities found that contractors had installed cheaper, non-fire-resistant netting...

Hong Kong’s connectivity and talent pool can help bolster international legal and economic collaboration, the justice minister and an expert have said, as they joined representatives from more than 25 jurisdictions at an annual forum in the city. Organised by the Department of Justice, the five-day Hong Kong Legal Week forum comprises four summits, encompassing topics from laws on the digital economy to the 28th anniversary of the Basic Law. Speaking at the opening ceremony on Monday, Secretary...

The Hong Kong Investment Corporation (HKIC) earned HK$2.34 billion (US$300.7 million) in investment income last year, as the city’s wholly owned investment vehicle made an impressive report after its first year of operation. HKIC posted HK$2.25 billion in operating income for the year that ended on December 31, on HK$64 billion in total assets, while deploying less than one-fifth of its initial capital of HK$62 billion, according to a report on Thursday. “HKIC is the patient capital investment...