In the Media

In a recent interview with Wen Wei Po, Prof. Michael B. Wong, Assistant Professor in Economics, Management and Strategy at HKU Business School, suggested that improving the quality of Home Ownership Scheme (HOS) flats could provide a key incentive for property ownership. He argued that the convergence in quality between public rental housing (PRH) and HOS flats is a major policy design flaw. As PRH is intended to provide basic shelter for low-income groups, HOS flats should be of superior quality to attract tenants to move up the housing ladder.

The pressure on Hong Kong’s catering industry is unprecedented: rising rents, wages, and ingredient costs are squeezing profit margins, while increasing labor costs make it difficult to recruit and retain staff. Consumer spending is shifting northwards, and tourist spending has yet to fully recover. The entry of mainland brands has intensified competition. The macroeconomic outlook is uncertain, and consumer preferences are changing, with people becoming more frugal. In an effort to turn things around, some groups have launched promotions at several of their upscale restaurants.