AGP Executive Report
Last update: 9 hours agoHong Kong 5-Year Plan Consultation: Hong Kong has launched a two-month public consultation on its first “strategic, forward-looking and operable” five-year blueprint, with publication targeted for the third quarter, focusing on innovation and tech centres and the Northern Metropolis while officials insist it complements the budget rather than signals a planned economy. Chief Executive Politics: Chief Executive John Lee dodged questions about seeking a second term, saying “a year is a long time in politics” and stressing continuity as the city prepares to roll out the five-year plan before end-2026. Markets Lifted by US-Iran Deal: Hong Kong stocks rose as a tentative US-Iran framework raised hopes for reopening the Strait of Hormuz, pushing oil prices down and improving risk sentiment; the Hang Seng was up in line with broader Asian gains. Banking Glitch: HSBC said it is working to restore normal service after some Hong Kong customers reported trouble accessing its mobile banking app. Weather Watch: The Observatory is considering whether to issue a red rainstorm warning after an amber signal, as thundery showers affect Hong Kong and the Pearl River Delta. AI Chips Push: ByteDance is reportedly in talks with Shanghai’s Iluvatar CoreX to buy AI inference chips, reflecting China’s push for more domestic chip supply amid US export controls. Digital Banking Upgrade: Citi rolled out “eVouchers” in the Citi Mobile app, aiming to boost digital engagement as cardholders increasingly use online channels. Dog-Friendly Dining Scheme: Hong Kong’s dog-friendly dining scheme drew strong restaurant response, with rules including leashes and exclusions for certain hotpot/teppanyaki/barbecue venues.
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