OPINION: It is essential for adoptive parents to spend time with their new child to establish a bond and gain trust. Hong Kong laws don’t allow for this, but companies are starting to offer parental leave and flexible hours.
What set Shenzhen apart during transformation to a metropolis of 12 million was that it was positioned to learn from Hong Kong, including housing policy. The approach of selling land to developers for residential and commercial development was eventually replicated across the country. What sets Shenzhen apart now is that it plans to head in another direction to avoid Hong Kong’s property woes, which officials largely blame for the current social unrest.
A new round of a one-off living subsidy was the centrepiece of a raft of welfare measures that Hong Kong leader Carrie Lam Cheng Yuet-ngor unveiled in her third policy address aimed mainly at helping the city’s poor cope with high property prices. Lam made the key spending commitment for low-income households not living in public rental housing and not receiving Comprehensive Social Security Assistance (CSSA), in addition to the first round of the subsidy announced by Financial Secretary Paul Chan Mo-po in August.
OPINION: On October 16, Hong Kong Chief Executive Carrie Lam revealed her policy address to tackle social and economic woes in Hong Kong amidst the ongoing protests and her government’s legitimacy crisis. The policy address is focusing on the long-term solutions, embracing the aspects of housing, land supply, transport subsidies, labor welfare, and technological and economic development.
BLOG: One morning in May, cleaning worker Lau Chung dragged herself to the head office of Hong Kong’s Mandatory Provident Fund (MPF) Schemes Authority in Kwai Chung. Turning 65, the age that allows her to withdraw all her MPF cash, she wanted to find out how many pension accounts she had, and how much in sa
A new transport subsidy scheme in Hong Kong enabling commuters to earn rebates on their Octopus cards kicked off on Saturday with some hiccups at kiosks in convenience stores.
Under the Public Transport Fare Subsidy Scheme, commuters with monthly travel expenses exceeding HK$400 (US$51) received subsidies of 25 per cent of the difference between their total cost and this sum, capped at HK$300.
Developing Asia is forecast to expand by 6.0% in 2018, and by 5.9% in 2019. Excluding Asia’s high-income newly industrialized economies, growth should reach 6.5% in 2018 and 6.4% in 2019. With oil prices edging up and robust consumer demand continuing, inflation is poised to pick up after dipping slightly last year. Consumer prices are projected to rise by 2.9% in both 2018 and 2019, or 0.6 percentage points more than in 2017.
This paper proposes an approach to classifying and measuring the primary elements of private pension supervision, and undertakes an evaluation using a representative set of countries. The analysis considers how supervision methods and style relate to the basic design of pension systems, and the broader environment in which they operate. Supervisory systems are shown to include six main elements, with considerable variation among systems in the scope, and intensity of activities within each element.
This paper compares the different approaches of Singapore, Thailand, Hong Kong, and China with respect to how they manage their respective defined contribution, individual retirement account systems. The four cases illustrate important differences in terms of some of the key issues in design of DC schemes; the role of government versus private sector, investment policy and individual choice, among others. They also provide a useful contrast in terms of initial conditions.