In the Media

Standard Chartered announced mid-last month its plan to reduce over 15% of its back-office and support roles by 2030, a move affecting nearly 8,000 employees. During an investor briefing, Chief Executive Bill Winters stated that the bank’s strategy is "not simply about cutting costs," but rather about replacing "low-value human capital" with financial and investment capital under specific circumstances.

Dr. Tingting Fan of HKU Business School told CNA that young consumers spend differently from older generations, willingly paying for merchandise and celebrity encounters—consumption that greatly benefits the local economy.