The Consulate General of Switzerland in Hong Kong

UK demands answers after MP denied entry to Hong Kong
British Foreign Secretary David Lammy stated that he was deeply concerned after UK lawmaker Wera Hobhouse was denied entry to Hong Kong, and that he would be urgently raising the issue with the Chinese authorities. Hobhouse, a member of the Inter-Parliamentary Alliance on China, flew to Hong Kong on April 10 on a personal trip to visit her newborn grandson. She claimed she was the first British MP to be refused entry on arrival in Hong Kong since 1997. HKFP, SCMP, BBC, Guardian, Sunday Times, Apr 13

Singapore invokes foreign interference law against property tycoon's family
Singaporean Ministry of Home Affairs announced its intention to designate four members of the family behind Hong Kong property developer Sino Group as ‘politically significant persons’ over their ties to the official advisory body Chinese People’s Political Consultative Conference (CPPCC). This is the second time for the Singaporean authorities to announce its intention to designate individuals under the Foreign Interference (Countermeasures) Act 2021. Reuters, CNA, Apr 9

Beijing urge US lawmakers to ‘pull back from the brink’ over Hong Kong trade office bill
On April 7, US congressmen Chris Smith and James McGovern revived the proposed bipartisan Hong Kong Economic and Trade Office Certification Act. The proposed legislation would empower the White House to strip Hong Kong’s trade offices in New York, San Francisco and Washington DC of their privileges or close them if they were deemed to operate without a ‘high degree of autonomy’ from China. On April 9, China’s foreign ministry office in the city issued a warning, urging US lawmakers to ‘pull back from the brink’ and vowed to retaliate if the proposal progresses any further. SCMP, RTHK, Apr 7, 9, 10

US bans gov’t staff in China & HK from romantic or sexual relations with Chinese citizens
The US has banned government personnel in China and Hong Kong from any romantic or sexual relationships with Chinese citizens, according to the Associated Press (AP) citing four sources with direct knowledge of the policy. HKFP, Apr 3

Hong Kong Rejects US and UK Reports on Human Rights and Autonomy
HK has strongly criticized both the United States and the United Kingdom over reports raising concerns about human rights in the city. The UK report, published in March, highlighted 'transnational repression' following HK’s issuance of arrest warrants for UK-based pro-democracy activists. Meanwhile, HK rejected the US Department of State's report, published on March 31, which accused Beijing and local authorities of using national security laws to undermine the rule of law in the city and harass individuals outside of HK. The HK government dismissed the report, calling it full of “untruthful remarks, slanders, and smears.” Both HK & Beijing issued rejections of the US report on April 1, with authorities in both regions claiming it further underscored HK’s lack of autonomy under Beijing's supervision. HKFP 1, HKFP 2, UK Report, Xinhua, Apr 2

Beijing vows retaliation over new US sanctions on six Hong Kong officials
On March 31, the US imposed sanctions on six HK and mainland officials for ‘transnational repression’ of opposition activists under national security legislation. In response, a spokesperson for the Chinese Ministry of Foreign Affairs in HK criticized the sanctions, accusing the US of attempting to undermine HK’s prosperity and stability, and vowed that China would take "effective measures" to retaliate. A HK government spokesperson also rejected the sanctions, calling them an example of US "barbarity" and "hegemony," and insisted that the city would not be intimidated by such actions. HKFP, SCMP, Apr 1, 2

Democratic Party edges closer to disbandment amid political pressure
HK Democratic Party, the city’s largest pro-democracy party, received a mandate from its members on April 13 to move forward with plans to dissolve. At a one-and-a-half-hour meeting attended by over 110 people, more than 90% supported the proposal for the party’s central committee to “proceed with the arrangements and follow-up of the dissolution.” Vice Chairperson Mok Kin-shing said the process may not conclude this year. Meanwhile, veteran member Fred Li told media that a mainland official had indicated the party should finalise its disbandmwsxent before December’s Legislative Council election. SCMP, Nikkei Asia, The Standard, HKFP, Apr 13 & 23

Insurer sees new business growth on Hong Kong, China demand
Insurer AIA reported year-on-year growth for the profitability of new policies in the first quarter, propelled by strong sales to Hong Kong and mainland China visitors. AIA’s new business value grew 13% to HKD11.6 billion (€1.39 billion) after factoring exchange rate fluctuations. Rival Prudential reported new business profit of HKD 4.7 billion (€563 million) in the same period. They both continue to tap growth in the key Hong Kong market as mainland travellers seek to diversify their wealth offshore. Bloomberg, SCMP, Apr 29

China’s Ant Group buys retail broker Bright Smart to set up ‘bridgehead’ in Hong Kong’s market
Ant Group announced that it has agreed to pay HKD 2.81 billion (USD 362.2 million) for a 50.55% stake in HK’s largest retail stock brokerage Bright Smart. The mainland online-payment operator stakes out a foothold in Asia’s third-largest capital market amid a resurgence of initial public offerings and transactions. Separately, British asset manager Schroders will continue to expand in HK to tap Asia-Pacific’s fast-growing wealth-management and pension businesses. SCMP 1, SCMP 2, Apr 28

Hong Kong ranks as second-most crypto-friendly city
According to the Crypto Friendly Cities Index, released on April 24 as part of Multipolitan’s Crypto Report 2025, Hong Kong is the second-most friendly city to cryptocurrencies in the world, ranked just after Ljubljana, closely followed by Zurich, Singapore and Abu Dhabi. The index evaluates cities based on factors such as regulation, tax regimes, digital infrastructure and wealth. SCMP, Apr 24

Hong Kong inflation rises by 1.4%, overall unemployment rate stays at 3.2%
Official data showed that the city’s consumer price index rose 1.4% in March from a year earlier, slightly below the market forecast of 1.5%. Meanwhile, the city’s overall unemployment rate in the first quarter of this year remained at 3.2%, but the figure increased in some sectors, such as the information and communications sector. The Standard, HKFP 1. HKFP 2, Apr 23

Easter exodus bites hard as Hong Kong restaurants report up to 50% drop in business
Residents made more than 2 million trips out of Hong Kong over the past four days, a nearly 9% increase against the same period last year. Hong Kong Federation of Restaurants and Related Trades President Simon Wong revealed that local eateries had suffered a 30 to 50% drop in business over the Easter holiday compared with normal weekends. SCMP, Apr 22

Pro-Beijing voices ramp up pressure on CK Hutchison over port sale
Pro-Beijing voices are increasing pressure on CK Hutchison over its planned sale of global port assets, particularly in Panama. The company faces legal action from Panama's comptroller over alleged financial losses tied to its port concession. Amid U.S. strategic moves in the region and news of the Aponte family's Terminal Investment Limited and BlackRock taking over the port operations, Beijing-linked figures like Tam Yiu-chung have called on CK Hutchison to reverse the sale, citing national responsibility. The situation reflects growing geopolitical sensitivities around critical infrastructure and Chinese business interests abroad. Bloomberg 1. Bloomberg 2, NZZ, The Standard, SCMP 1. SCMP 2, SCMP 3, Reuters, HKFP, Apr 7, 9, 11, 14, 16, 17

Hang Seng Index climbs, tracking Asian stock markets, as Trump hits pause on most tariffs
Hong Kong’s benchmark stock index soared on April 10, tracking advances across most Asia-Pacific markets, after US President Donald Trump put a 90-day pause on import tariffs for most of America’s trading partners – except China. Separately, expectations for support from mainland Chinese state buyers also helped to support equities. The Hang Seng Index rose 1.8% to 20 628 at the local noon trading break. SCMP, Bloomberg, Apr 10

Hong Kong dollar strengthens as mainland stock buyers drive demand amid volatile markets
The Hong Kong dollar strengthened to 7.7595 per USD from 7.7560 the day before. The HKMA said trading remains orderly, and it stands ready to sell HKD if the currency hits the strong end of its trading band. SCMP, Bloomberg, Apr 10

Non-local firms to invest HK$50 billion in Hong Kong
At a signing ceremony with 18 overseas enterprises, Financial Secretary Paul Chan announced that non- local key enterprises are set to invest HKD 50 billion (€5.7 billion) in Hong Kong. He said the need to develop innovation & technology got “more urgent” amid rising geopolitical tensions. RTHK, SCMP, Apr 8

First quarter funding rank climbs to 4th place as city is poised for IPO bonanza
Funds raised in Hong Kong from new listings and share placements bounced back strongly in the first quarter as companies raced to tap strong market sentiment. 15 companies raised HKD 17.8 billion (€2.13 billion) via initial public offerings on the main board of the Hong Kong stock exchange in the first three months of 2025. This was the best quarterly performance since the second quarter of 2021. SCMP, Apr 1

Retail sales drop for 12th straight month in February, down by 13%
The government released the figure on March 31. Gary Ng, an economist at Natixis, explained that while the retail sector was a small part of the economy but acted as a barometer for overall sentiment. ‘The sector’s weakness is that it shows broad pressure, requiring more insightful policies to focus on the economy rather than other irrelevant areas to assist the transformation’ according to Ng. SCMP, Apr 1

Six universities in Hong Kong make Asia top 50 for first time since 2017
Six universities in Hong Kong have finished in the top 50 of The 2025 Times Higher Education Asia University Rankings for the first time since 2017, with the city’s two oldest tertiary education institutions ranking among the 10 best in the region. SCMP, RTHK, Apr 28

Most foreign correspondents in Hong Kong say they self-censor
A biannual survey by the Foreign Correspondents’ Club (FCC) found that 65% of respondents admitted to self-censorship, while 33% had considered leaving Hong Kong due to declining press freedom. Conducted between December and February, the poll included 69 members. FCC President Lee Williamson said on April 22 the results reflect reduced source willingness, shrinking newsrooms, and continued self-censorship. HKFP, Apr 22, 24

Amnesty International’s Hong Kong office reopens overseas
Switzerland-based Amnesty International’s HK office has reopened overseas after it pulled out of the city in 2021, citing the onset of the Beijing-imposed national security law. Ex-lawmaker Fernando Cheung and former student activist Joey Siu are among the board members. HKFP, Apr 15

HK47 – Four activists to be freed on 29 April ‘earliest’
Four former lawmakers convicted for subversion in the 2019 pro-democracy camp primary election will be released as early as April 29. They will be the first batch of defendants to be freed following the city’s largest and longest-running national security trial. The four are: Claudia Mo, Gary Fan, Kwok Ka-ki and Jeremy Tam; each of whom was sentenced to four years and two months in prison last November, have been in custody on remand since March 2021. Separately, on April 8 a former member of the pro-democracy group League of Social Democrats, who pleaded guilty to a sedition charge for posting comments on three social media platforms under the city’s homegrown security law, was jailed for one year. SCMP, HKFP, Apr 9

CE Sam - Macao’s exposure to US trade war limited, but economy must diversify
Macao Chief Executive Sam Hou-fai said that the US trade war has not had a significant impact on Macao, but the city will explore more business opportunities in Southeast Asian countries to diversify its economy. ‘The city will be indirectly affected by the trade war,’ he explained, adding the impact of the tariffs on other countries could affect tourism in Macao, driving down visitor spending. SCMP, Apr 28

European press group says detention of 2 journalists in Macau a ‘serious attack on press freedom’
On April 13, the Macao Journalists Association issued a statement expressing concern over the increasing number of official events being held without media presence, describing such actions as “discriminatory practices” against the press. The association called for greater respect for press freedom. Nine days later, on April 22, the Society of European Journalists & Communication Professionals in Asia issued a statement condemning the detention of two journalists from the online news outlet All About Macau. The reporters were detained by police while attempting to cover a legislative meeting. The press group called the detention a “serious attack on press freedom.” HKFP, MB, All About Macau, Apr 13, 22

IMF Cuts Macao’s 2025 Growth Forecast Amid Budget Deficit Concerns
The IMF has significantly downgraded its economic growth forecast for Macao in 2025, reducing it from 7.3% to 3.6%, according to the latest World Economic Outlook report released on April 22. This follows concerns over Macao’s economic performance, particularly in the gaming sector. On April 15, Chief Executive Sam Hou Fai warned of the risk of a gov. budget deficit if monthly gaming revenue falls below MOP 15 billion (€1.7 billion). Separately he also criticized the US for imposing "abusive customs duties on all its trading partners," including China, under various pretexts. MB 1, MB 2, Hoje Macau, Apr 15, 22

Chief Executive vows to help mainland firms to break through ‘US blockade’
On April 25, Chief Executive John Lee stated that the Hong Kong Government ‘is planning to provide new supply chain services to mainland firms and lead the companies to explore emerging markets to break through the US blockade.’ He added that the city has a rich international trading network and diversified talents. Separately, Lee announced that 12 companies based in the mainland province of Zhejiang have signed agreements with Invest Hong Kong to establish a presence in the city. HK01, The Standard, Apr 25

Hong Kong Responds to US-China Trade War with Strategic Measures for Key Industries
On April 2, US President Donald Trump signed an executive order closing the 'de minimis' trade exemption, which had allowed low-value packages from HK and mainland China to enter the US duty-free, with the order taking effect on May 2. This came after Trump announced a 34% reciprocal tariff on China and a 10% levy on all its trading partners, causing HK stocks to drop to a six-week low. In response to the ongoing uncertainty caused by the US-China trade war, HK’s transport minister vowed on April 3 that the government would "step up" to take a leadership role in guiding the logistics, shipping, and aviation sectors. By April 11, the government had further highlighted the impact of the trade war on these key industries. On April 23, Cathay Pacific, projected a decline in air cargo demand between mainland China and the United States due to the ongoing trade tensions. HKFP 1, HKFP 2, RTHK, SCMP, Apr 3, 11, 23

Hong Kong’s predicament amid trade war ‘unfortunate,’ American trade group says
Hong Kong’s current predicament amid the US-China trade war “is unfortunate” because the city has a trade deficit with Washington, an American chamber of commerce said. “The recent U.S. trade policy decisions and worldwide reactions have had great ramifications on global economy. HKFP, SCMP, Apr 15

Hong Kong to boost efforts to lure investment, talent in light of US tariffs
In his weekly blog, Financial Secretary Paul Chan reiterated that Hong Kong will increase the pace of attracting foreign investment, talent and initial public offerings and step up scrutiny of financial markets amid sweeping external changes including the US’ so-called ‘reciprocal tariffs’. In an interview published on April 14, Executive Council member Margaret Leung, who is an experienced banker, shared that she ‘doesn't think that President Trump will make the world see a second recession (like the Great Depression in the 1930s).’ In an article published on April 14, Hong Kong Shippers’ Council Chairperson Willy Lin cautioned local exporters against evading US tariffs on small parcels via illegal third-country transshipments or parallel imports of goods into America, saying companies risked being prosecuted and faced criminal liabilities while tarnishing the city’s reputation. SCMP, RTHK, SCMP, Apr 13, 14

Tariff War Intensifies as US and China Escalate Trade Measures
The US-China trade war intensified in April with aggressive tariff escalations from both sides. On April 9, China’s finance ministry announced it would raise tariffs on U.S. imports from 34% to 84%, just hours after Washington’s latest round of duties came into effect on dozens of trading partners. On April 10, US President Trump paused tariffs on most other countries but, despite growing market unease, chose to double down on punitive measures against China. The escalation peaked on April 11, when the White House confirmed that U.S. tariffs on many Chinese goods had surged to 145%, following multiple waves of hikes targeting steel, aluminium, and automobiles. In response, China announced it would lift its tariffs on US goods to 125%, warning of a potential freeze in trade between the world’s two largest economies. HKFP1, HKFP2, HKFP3, HKFP4, Apr 9, 10, 11

US triples tariffs to 90% on small parcels from Hong Kong and mainland China
US President Donald Trump has tripled tariffs on small parcels exported from mainland China and Hong Kong. According to an amendment on so-called reciprocal tariffs published by the White House on April 8 US time, the new rate on packages priced up to USD 800 will be 90% of their value and will become effective on June 1, up from the original planned levy of 30% that will come into place on May 2. Separately, Trump applied an additional 50% tariff on Chinese imports, pushing the total levy on many goods from China to 104%. The Standard, SCMP, HKFP, Apr 9

Hong Kong stocks suffer worst drop since 1997 amid US-China tariff clash
Hong Kong’s Hang Seng Index plunged 13.22% on April 7, closing at 19,828.30 in its sharpest single-day decline since the 1997 Asian financial crisis, as US-China tariff tensions rattled global markets. The steep fall, which followed tit-for-tat measures announced by Washington and Beijing, triggered a selloff with record equity turnover of HKD 620.9 billion (€70.6 billion). On April 8, the market rebounded after Chinese state funds intervened. SCMP1, SCMP2 Bloomberg1, CNBC, HKFP, Bloomberg2, Bloomberg3, HKET, Apr 7, 8

HK vows to remain a free port and highlights the lack of intention to hit back at US tariffs
On April 7, Hong Kong’s finance chief reaffirmed that the city would maintain its status as a “free port” in response to the new U.S. tariffs on Chinese goods, which the government condemned as "bullying" measures. The government emphasized that Hong Kong would continue to implement free trade policies and ensure the "free and convenient" flow of goods, capital, and information. Later the same day, Financial Secretary Paul Chan highlighted Hong Kong's commitment to preserving a free and open economy, stating that there were no plans to retaliate against the U.S. tariffs, despite strong opposition to the measure. Chan reiterated that Hong Kong would uphold its status as a free trade port. HKFP, SCMP, HKFP, Apr 7

This is a review of the Hong Kong media and does not necessarly represent the opinion of the Consulate General of Switzerland. The Consulate General of Switzerland in Hong Kong does not bear any responsibility for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which might be incomplete or incorrect, will therefore be rejected.

30.4.2025