Latest news with #BillyMak
South China Morning Post
13-05-2025
- Business
- South China Morning Post
China-US tariff truce offers Hong Kong exporters 90-day window to ship goods
Hong Kong and mainland Chinese manufacturers have been urged to seize the opportunity presented by a 90-day pause in the China-US tariff dispute by shipping inventory to the United States. However, traders will face competition for freight services and will need to negotiate the sharing of shipment costs between the two regions, experts have warned. Billy Mak Sui-choi, an associate professor in the Department of Accountancy, Economics, and Finance at Baptist University, said on Tuesday that the 90-day tariff suspension window 'will definitely be a peak period for exporting goods'. He added that shipment was 'quite urgent' as the pause meant US importers could still ensure sufficient goods for the Thanksgiving and Christmas shopping season. 'Since you have a 90-day exemption to maintain relatively low tariffs, you should do your best to ship goods. If you start placing orders now, manufacturing, and then exporting, it is actually quite urgent,' Mak said. US President Donald Trump said on Monday that he and his counterpart President Xi Jinping could negotiate over tariffs at the end of this week.
South China Morning Post
06-05-2025
- Business
- South China Morning Post
Weaker Hong Kong dollar to boost tourism and lower cost of services: economists
Recent weakness in the Hong Kong dollar against some regional currencies has made the city more appealing to inbound tourists while lowering the costs of services, economists and industry leaders have said. Advertisement The Hong Kong dollar is pegged in a narrow range to the US dollar, which has weakened significantly in recent months. The US dollar index, or DXY, a measure of the currency against a basket of six others, dropped by 4 per cent in the first quarter. The local currency has appreciated strongly against the US dollar in the past four days, prompting the Hong Kong Monetary Authority, the city's de facto central bank, to intervene several times since Saturday to keep it within the range. 'A weaker Hong Kong dollar will help to boost tourism and bring more economic benefits to the city than anything else,' Billy Mak Sui-choi, associate professor at Baptist University's department of accountancy, economics and finance, said on Tuesday. He said the local currency peg to the weaker US dollar would lead to the Hong Kong dollar's depreciation against other currencies, resulting in cheaper prices for exports from the city and local professional services. Advertisement 'This will help boost tourism, creating a stronger incentive for tourists to come to Hong Kong and global investors to seek our professional services such as accounting and legal services,' he added. Mak noted that the inflow of overseas capital would stimulate more economic activity in Hong Kong as banks would have a tendency to reduce interest rates driven by greater liquidity flows.
South China Morning Post
06-05-2025
- Business
- South China Morning Post
Weaker Hong Kong dollar to boost tourism and lower import costs, economists say
Recent weakness in the Hong Kong dollar against some currencies in the region has made the city more appealing to inbound tourists while lowering imported costs, according to economists and industry leaders. Advertisement The Hong Kong dollar, pegged to the US dollar, weakened against a basket of currencies as reflected in the US dollar DXY Index, dropping 4 per cent in the first quarter. The drop in the local currency occurred even though it appreciated strongly against the US dollar in the past four days, prompting the Hong Kong Monetary Authority to intervene for the third time since Saturday. 'A weaker Hong Kong dollar will help boost tourism and bring more economic benefits to the city than anything else,' said Billy Mak Sui-choi, associate professor at Baptist University's department of accountancy, economics and finance. He explained that the local currency peg to a weakening US dollar would lead to the Hong Kong dollar's depreciation against other currencies, resulting in cheaper prices for local professional services. Advertisement 'This will help boost tourism, creating a stronger incentive for tourists to come to Hong Kong and global investors to seek our professional services such as accounting and legal services.' Mak pointed out that the inflow of overseas capital would stimulate more economic activity in Hong Kong as banks would have a tendency to reduce interest rates driven by greater liquidity flows.
