In the Media

Artificial intelligence is rapidly changing the global job market, with many companies introducing AI into their daily operations to reduce costs and enhance efficiency. However, this has raised concerns that AI may replace humans. A multinational investment bank has even identified Hong Kong as one of the places most affected by AI, estimating that nearly 30% of jobs in the region could be at risk. What impact will AI have on the job market? The World Economic Forum predicts that due to the emergence of new technologies like AI, 92 million existing jobs will be eliminated globally, but at the same time, 170 million new positions will be created. How should the government assist workers in transitioning?

Recently, Chinese Mainland e-commerce giants Taobao, JD.com, and Pinduoduo have upped their game by incorporating Hong Kong into their free shipping zones. In the past, Hongkongers relied on transshipment consolidation to facilitate the receipt of their ordered goods. Little wonder that customers have warmly welcomed the new one-stop shopping services.

Prof. Zhiwu Chen, Chair Professor of Finance at HKU Business School recently shared his perspectives with SCMP on the US ban targeting Chinese testing labs over security risks. Prof. Chen highlighted the practical challenges, "It is hard to determine where each component is tested, when so many things make up a smartphone... I don’t know how you can enforce it." He also pointed out the potential impact on major brands like Apple and Samsung, and ultimately, on American consumers who may face "fewer, more expensive choices." A complex issue with significant implications for global supply chains and tech policy.

Companies need to understand the currently observable technologies and consider whether to apply these technologies directly or to conduct further research and development. Second, the application of design thinking is crucial, as it helps businesses achieve cross-disciplinary innovation and conduct diverse experiments based on market insights. Third, the management culture and internal management models of companies are also very important, as these factors can facilitate the advancement of innovation projects.

Despite resource constraints and pressures coming from a growing population, can emerging economies improve healthcare access and reduce costs – without sacrificing the quality of healthcare services?

Further to the 12.2 million visitor arrivals in Hong Kong registered in the first quarter of 2025, a new quarterly high since the coronavirus pandemic, Mainland’s Labour Day Golden Week ushered in another 1.1 million visitors, representing a 22% increase year-on-year. Of course, a rise in visitor numbers alone does not necessarily indicate that all is well. With a slackening global economy and consumption downgrade, many visitors come and go in a single day, while some have even “invented” a new money-saving travel strategy―spending the night at 24-hour fast-food restaurants.

Prof. Heiwai Tang, Associate Dean of the HKU Business School and Director of the Asia Global Institute, has highlighted the need for Hong Kong to diversify its economy beyond its current narrow structure. To drive sustainable growth, he calls for the development of "new industries" and introduces a groundbreaking method to assess their economic contributions. This innovative approach enables the government to track industrial trends, design targeted policies, and measure their effectiveness with precision. Applying this method, Prof. Tang’s research uncovers the substantial potential of new industries to expand Hong Kong’s GDP. Fueled by rapid advancements in innovation and technology, sectors like "research, design, testing, and environmental engineering" saw their value added soar from HK$3.3 billion to HK$13.3 billion between 2000 and 2023. Similarly, "computer programming, data, and industrial internet services" has surged from HK$5 billion to HK$25.5 billion in the same period. Beyond these emerging sectors, Prof. Tang underscores Hong Kong’s pivotal role in the global supply chain. He notes that productive services, ranging from logistics to legal services, are essential in supporting not only local industries but also worldwide supply networks, making them a vital component of Hong Kong’s economic future.

To the surprise of most, consensus was readily reached on a truce at the recent tariff talks between China and the US in Geneva. For the time being, tariff rates have reverted to the levels prior to the so-called “Liberation Day”, though the international landscape can hardly return to its previous state. The US president Donald Trump has been manipulating “negotiation tactics”, with the asking price constantly fluctuating―now high, now low; now real, now fake.

Currently, public housing tenants earning more than HK$60,000 per month can use the Green Form to apply for flats under the Home Ownership Scheme (HOS). The Green Form is reserved for people already living as public housing tenants. On the other hand, people not living in public housing but earning the same income level are barred from applying for the White Form Secondary Market Scheme to purchase HOS flats, as their income exceeds the eligibility limit. Next, although the Housing Department aims to encourage upward mobility through the purchase of HOS or private flats, the threshold for evicting tenants living in public housing is set at a cumulative HK$125,500 for a three-person household’s monthly income. So long as they collectively earn less than HK$125,500 per month and can pay their rent, they can stay and then buy a flat. Dr. Vera Yuen, Lecturer in Economics at HKU Business School, commented, “Those earning HK$20,000 to HK$40,000 per month and renting privately can struggle to pay their rent, exhausting their monthly income. But in public housing, even those earning over HK$100,000 can remain—it’s actually very difficult for the Housing Department to evict these people earning a relatively high income from their public housing flat.”