TOP STORIES
Gen Z entrepreneurs give new life to waste fabric
- 2024-10-30
- Society
- The Young Reporter
- By: LIU Yutong、MAO AnqiEdited by: Yuqi CHU
- 2024-10-30
Several toy bears in cute uniforms sat at a booth at Rethink HK 2024. Many passersby stopped to take photos and touched them gently. These bears were wearing clothes made from discarded old school uniforms. Their handbags and hats were also made from waste fabrics. Dress Green, a social enterprise founded by 29-year-old Emma Yu and her husband, has partnered with around 30 local schools to recycle used school uniforms into the UNI Green Series. The Series offers a wide variety of souvenirs for student graduation gifts, including bears wearing old uniforms, pencil bags, tote bags, pouch shoulder bags, fisherman’s hats, cushions etc. Since the startup's inception in 2021, it has recycled over 3,000 uniforms and pieces of clothing, and produced more than 4,500 upcycling products, according to Dress Green. The growth of Hong Kong's fast fashion industry has resulted in tons of textile waste being sent to landfills, and many Gen Z members have discovered the serious impact of textile industry pollution on the environment and have created sustainable brands in the hope of combating excessive fabric waste and drawing more attention to the issue. “I felt that Gen Z are more focused on sustainability issues than the previous generation,” said Howard Ling, 49, a social enterprise consultant and Professor of Practice at Baptist University. “This is because they are getting more information about environmental protection from diversified media channels and also from schools and communities.” With the rise of fast fashion, the amount of clothing produced and thrown away has skyrocketed. According to the European Parliament, the global fashion industry generated nearly 20% of the wastewater and about 10% of the carbon emissions in 2023. In Hong Kong, 404 tons of textile waste were sent to landfills each day in 2021, accounting for 3.6% of municipal solid waste, …
Hong Kong Fintech Week 2024: Virtual banks call for customised policy rollout to enhance competitiveness
- 2024-10-29
- Business
- By: ZHAO Runtong、BO ChuxuanEdited by: Chi On LIU
- 2024-10-29
Hong Kong’s virtual banks need more regulations that would make them more competitive compared to the conventional brick-and-mortar banks, the experts said on Tuesday. Digital banks, which deliver banking services exclusively or primarily through the internet or other forms of electronic channels, are subject to the same set of regulatory requirements that apply to traditional banks according to HKMA. The eight licensed digital banks of Hong Kong together gained HK$49.9 billion in assets last year, which accounts for only 0.3% of the total market shares, according to the HKMA’s data. Total deposits of the eight banks amounted to 2.2 million at the end of 2023, accounting for 8.8% of the total depositors in Hong Kong and reported zero profits according to HKMA. Paul Tang, the chief operating officer of Payment Asia, echoed the proposal that virtual banks need more pertinent regulations to support their business expansion in the short term. "The investment cost of virtual banks is high in the early stage, while the operation mode is also different from traditional banks," said Tang. The virtual banks in Hong Kong were established with the mission of stimulating more innovations, fintech adaptations, and competitiveness. Nonetheless, all eight licences haven't started to make profits and have to follow the exact requirements as brick-and-mortar banks, according to the city's de facto central bank. Virtual banks, such as Air Star, provide up to 6.88% of annual interest rates, offering higher interest rates to attract people's deposits. "Digital banks are different from traditional banks, so old ways don't fit. Only with new policies can digital banks leverage their unique advantages," said Oliver Hughes, Head of International Business at TBC Bank Group, highlighting that virtual banks in Hong Kong expect new regulation to support them as they compete with traditional banks. "We try to remove that …
Gen Z mainlanders build community for compatriots in Hong Kong
- 2024-10-28
- Society
- The Young Reporter
- By: YANG Haicen、WANG LudanEdited by: Juncong SHUAI
- 2024-10-28
Go down an unassuming stairway on D'Aguilar Street in Lan Kwai Fong and you will be greeted by a pair of heavy Chinese-style doors. Further deep underground, you will face a wall of graffiti with the name of the bar, Bamboo. The owner of this Chinese style bar is Ran Guangwu, 25, a micro-influencer on the mainland's internet. He started the bar with a group of young mainlanders and most of their customers are also from the mainland. "We host different themed events almost every weekend," Ran said. "People come here to relax, It’s like visiting a friend’s house." According to government statistics, the number of mainland students applying for Hong Kong degrees has risen from a maximum of 20% to 40% over one year, and newly enrolled students from mainland China account for 41% of total enrollment universities in Hong Kong in 2023. Meanwhile, a set of key performance indicators shows at least 35, 000 mainland Chinese have entered Hong Kong under the government run talent import scheme since 2023. They can stay in the city for at least 12 months. Ran Guangwu hopes his bar can offer a home away from home for young mainlanders. Ma Xiaoshuai, 20, a mainland student from The City University of Hong Kong, is a client at Bamboo. “Most bars in Hong Kong are either too fancy or too wild, but this one is just right—very down-to-earth,” he said. He has made new friends there who share his background. Shi Zhengqi , 20, grew up in Fujian and moved to Hong Kong with his parents in recent years to restart his high school life. “We’ll be playing lots of table games here that you’d only find on the mainland, such as Miss Card and King’s Game,” he said. Shi said the life pace …
Oktoberfest sparks Hong Kong with authentic German vibe
- 2024-10-22
- Society
- The Young Reporter
- By: YANG Shuyi、WANG JingEdited by: Yuqi CHU
- 2024-10-22
A German man in traditional Chinese clothes performed the well known local song, “Waves Flowing”,with his band at Central Market. It’s their second Oktoberfest in Hong Kong. The festival runs from Oct.17 to Nov.2 giving German expatriates in Hong Kong the chance to enjoy their tradition. The event is celebrated with well-known beer brands,German delicacies such as pork knuckles and sausages. Carolyn Wright, from England came to the Oktoberfest in Hong Kong after having gone to the original Oktoberfest in Munich a couple of weeks ago. “The most important element of Oktoberfest is the beer, but the entertainment is also essential, especially the band. At the one in Munich, every one of the beer tents had a band as the main focus,” said Wright. “It is a good night. This event is well-organised. It has all the elements of the original German Oktoberfest, which brings it here in a fantastic venue.” Alex Arkin, 25, from Germany, was participating in Oktoberfest in Hong Kong for the first time. “In Germany, it's more crowded and you can feel the vibe more because it's a German tradition. ” said Arkin. “But in Hong Kong, it's also nice because you come with your friends, and you enjoy the friendly atmosphere here.” Arkin liked the multicultural aspect of Oktoberfest in Hong Kong.“You can see people from different countries. It's so unique because in Germany it's mostly Germans who participate,” said Arkin. “However, the seating arrangement here at the competition area could be more reasonable. It was a bit too crowded during tonight's competition,” he added. Ken Tse, 47, a local journalist, attended the Oktoberfest at the Central Market for the first time. “Although I don't know the culture of Oktoberfest very well, I like this event. It's just like a party. Everyone gets together, enjoys …
Pasta Run unites community to support mental health awareness
- 2024-10-21
- Society
- By: Chun Hei LUK、Wing Chi HOEdited by: Yau To LUM
- 2024-10-21
Ten runners dressed up as chefs, bacon, ketchup, and mustard ran together from Harbour Fun Restaurant & Bar in Causeway Bay to Pici Taikoo Place in Quarry Bay along with more than 500 runners on Sunday morning. Among them, Lee Ka-wing, 34, who dressed up as a chef, said he wanted to bring joy to the community. "I want to bring a smile to everyone's face and the costumes add an extra layer of fun to the race, and it’s all for charity,” Lee said. "Every costume tells a story, and I hope mine inspires others to join in the spirit of the run and support a great cause." The Pici Pasta Run, returned on Sunday for the fourth consecutive year to gather runners, families, and food enthusiasts dressed up in whimsical costumes, including giant spaghetti strands and colorful pasta shapes. The charity Mind HK said they held the Pici Pasta Run with the local Italian restaurant Pici aimed to raise awareness and funds for mental health initiatives while promoting community spirit through a fun and engaging run. The charity run also aimed to uplift community well-being during the unprecedented global pandemic. Last year, it successfully raised over HK$100,000. Chan Wing-man, 25, a first-time participant said he enjoyed the event where community, charity, and celebration came together. "I’ve heard so much about the atmosphere at the Pici Pasta Run, I am excited to be part of such a fun event that combines running and enjoying delicious pasta,” Chan said. "The energy was just incredible and it was not a typical race – it was more about enjoying the experience and the community spirit.” Kevin Tsia, 43, brought him closer to his 11-year-old son. "We’ve seen people in different costumes. That makes the event more enjoyable for our kids and brings …
Gen Z Cantonese opera performers bridge modernity and tradition
- 2024-10-18
- Society
- The Young Reporter
- By: LI Sin Tung、CHEN Yik NamEdited by: James Ezekiel Kalaw MODESTO、Ben Rong Li
- 2024-10-18
In a small practice room in Mong Kok, 17-year-old Li Man-chit stages a performance, combining martial arts and singing. As an aspiring Cantonese opera actor, he is part of the generation of new blood carrying forward the traditional culture. Despite his busy schedule as a Form Six student, Li continues to devote time to his passion, crafting his art. Having begun practising Cantonese opera when he was five, he said: “When my peers were watching cartoons, I was deeply attracted to Cantonese opera on television. I was mesmerised by the performers, their elegant costumes and the style of the art. And I still cherish that to this day.” Since he was eight years old, Li has travelled around the world to cities, including Vancouver, Los Angeles and Beijing. A highlight of the aspiring Cantonese opera singer was in 2017 when Li performed before President Xi Jinping and several mainland and local government officials at the West Kowloon Cultural District. “At that time, he was standing almost right in front of me and I was incredibly nervous, but this nervousness also pushed me to do my best,” he said. “After the show, Xi Jinping expressed his gratitude that Cantonese opera had ‘young inheritors’, which greatly inspired me,” Li added. “I am one of the Generation Z bearers of this culture,” he added. “Although it is sometimes a bit hard to go back and forth to perform, I don't feel tired because this is what I truly love.” Cantonese opera actress Wong Ho-yau believes that the lack of interest among young people in Cantonese opera is because of the gap between tradition and modernity. Wong, in her 20s, pointed out that the ancient values behind Cantonese opera scripts may conflict with a young audience. “While the general content of Cantonese opera performances …
Policy Address 2024: Hong Kong to fund HK$1.5 billion for helping local start-ups and boosting technology development
- 2024-10-16
- Business
- By: BO Chuxuan、WANG Ruoshui、Yichun FangEdited by: Runqing LI
- 2024-10-16
Chief Executive John Lee Ka-chiu announced on Wednesday to raise HK$1.5 billion for Hong Kong start-ups and build Hong Kong as an international innovation and technology centre. The government will redeploy $1.5 billion to set up funds jointly with the market in start-ups of strategic industries to facilitate the local enterprise environment, according to John Lee’s latest policy address. Meanwhile, the city’s top leader expanded Cyberport's Digital Transformation Support Pilot Programme to cover the retail, food and beverage, tourism, and personal services sectors, subsidising SMEs for digital transformation on a one-to-one matching basis. “It is good for SMEs to have more financing channels, but the impact of these funds on SMEs is not significant,“ said Adrian Ho, a legislative council member concerned about the SMEs topic. “For matching funds, it's difficult for some people to access private sector investments.” Similarly, Ting Pak-sun, the Chief Executive Officer of an IT start-up which received about HK$ 600,000 from the Cyberport Incubation Programme and different government programs, also agreed that it is an effective policy. “Sponsored by government funds, SMEs like us can provide investors with some use cases to refer to,” Ting said. The Innovation and Technology Fund (ITF), which aims to support local companies in upgrading their technology and developing innovative ideas, has helped around 75,881 projects by the end of August. However, Mars Zhou, the Chief Executive Officer of another intelligence company, also expressed his worries about the deployment method. “Since it is not tough for start-ups to obtain incubation funds in Hong Kong, the government may spend a lot of money but to invest in some low-quality companies, ” Zhou said. Adrain Ho cautioned that the policy may not help the company grow its turnover, although digital transformation can reduce costs and increase efficiency. “Digitization is the future, but …
Gen Z preserves Hong Kong's Nostalgic charm
- 2024-10-16
- By: WONG Hong Ni、LAI Uen LingEdited by: Ka Man Wong、Ngai Fung NG
- 2024-10-16
In a rapidly changing world, many Gen Zers are dedicated to showcasing the fading beauty of Hong Kong. Some collect cherished nostalgia, while others pick up their cameras to document the city's vanishing landscapes.
Policy Address 2024: Hong Kong slashes the liquor tax to 10% to boost the industry growth
- 2024-10-16
- Society
- By: XIA Fan、ZHAO Runtong、Haoming ZhouEdited by: Chi On LIU
- 2024-10-16
Chief Executive Lee Ka-chiu decided to reduce the tax for high-end liquor products to 10% to save the sluggish local industries on Wednesday in his latest policy address. The Hong Kong government said the duty with an import price of more than HK$200 will be lowered to 10% for the portion above HK$200 from 100%, effective on Wednesday. Simon Lee Hoey, one of the legislative council members who proposed the tax cut, said the cut is in the hope of pushing higher-quality alcohol consumption. “The lower liquor tax would make a significant change as we can bring various choices to consumers,” said Zach Chan, director of sales and marketing of Hong Kong Liquor Store, “ Besides, it can also stimulate the high value-added industries and facilitate the liquor’s trades. Under the heavy tax policies, the average drinking volume of Hong Kong residents is at a relatively lower level compared with the cities in the Western Pacific region, according to the city’s health department. The decrease in the liquor tax will have a similar effect as the red wine tax cut in 2008 to spark the related products, Chan added. The number of wine-importing companies rose to 800 in 2023 from 2008, and the number of wine retailers increased more than five times last year compared to 16 years ago, according to HKTDC. "We regard the cut of liquor as good news to increase sales as it allows us to present our customers with more diverse products," said Cyrus Lau, the owner of Zhangmen bar in Mongkok, "We are collaborating with liquor sellers to launch a series of new menus for liquor." Chan added that the lower liquor tax reduces costs for retailers and bar owners, allowing them to use it to give back to customers. However, the Hong Kong Alliance …
Policy address 2024: New regulation on improving subdivided flat living condition
- 2024-10-16
- Society
- By: Cheuk Chi Maggie YEUNG、CHAN Wing YiuEdited by: Tsz Wing CHAN
- 2024-10-16
A new law will regulate subdivided units to ensure they meet requirements such as having windows, independent toilets and kitchens as well as a minimum size of 86 sq ft., said Chief Executive John Lee Ka-chiu in the policy address this morning. More than 200,000 people live in subdivided units according to the Census and Statistics Department in 2021. This doesn’t include people living in other substandard housing, such as cage homes or partitioned rooms. These can suffer from inadequate infrastructure, poor air circulation, infestations of pests and rodents and unsanitary conditions, according to a Society for Community Organization press release in August. Subdivided flat resident, Wong, 41, who declined to provide her full name due to family issues, said she never opens the window in her flat “because rats and ants will come in.” Some residents of subdivided flats are waiting for public housing, which has an average wait time of 5.5 years, according to the Housing Authority. “The waiting time for public housing is too long in Hong Kong. If people can’t wait for public housing, we hope to improve their living environment,” said Sze Lai-shan, the deputy director of SOCO. The legislation will provide a grace period for landlords to renovate substandard housing. The government will establish a registration system for existing subdivided units. Unregistered flats will be illegal. Tenants will not be held liable. “The worst situation will be the landlord raising rent during contract renewal, when the subdivided flats are required to be improved,”said Angela Lui Yi-shan, 35, community organizer. Cheung Kwai-wing, 54, who has been living in a subdivided unit with his daughter for six years said, “The landlord told me he must raise the rent as the living condition improves.” Cheung said it is important to regulate the starting rent, otherwise, landlords …