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Yahoo
17-03-2025
- Business
- Yahoo
Hong Kong's demand for AI talent surges, with more than 2,000 job openings
Hong Kong employers want to fill more than 2,000 artificial intelligence (AI) jobs as the city pushes to transform into an innovation and technology hub. The vacancies will be featured at the Cyberport Career Fair, which takes place on Friday and Saturday. More than 580 organisations will attend, including start-ups, tech companies, government departments and firms like Hang Seng Bank and Centaline Property. About 70 per cent of recruiters would be looking to hire AI professionals, and nearly 60 per cent of the positions would be related to AI applications, said Ricky Choi, the smart-living director at Cyberport. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. "In the past, everyone might have thought that Hong Kong was primarily focused on finance," Choi said. "Gradually, we've noticed a slight shift in this sector, especially this year, with 67 per cent [of employers] coming from the smart-living industry." Smart living includes environmental, retail, health, robotics, Internet of Things and education technologies, he said. Notably, the education technology sector accounts for 29 per cent of the job openings, representing the largest share across industries, Choi said. The demand for AI talent in Hong Kong remains substantial as the industry booms. One in three professionals in Hong Kong was considering switching to AI-related careers, according to digital job platform TechJobAsia. Positions requiring AI skills offered salaries up to 24 per cent higher than those without, the platform said, adding that the monthly salary for junior AI engineers ranged from HK$24,000 (US$3,088) to HK$31,000. A view of Cyberport in Pok Fu Lam, Hong Kong. Photo: Jelly Tse alt=A view of Cyberport in Pok Fu Lam, Hong Kong. Photo: Jelly Tse> The fresh perspectives of young people could inspire creativity in AI and drive technological advancement, said Perry Chan, CEO of DefyPay, a blockchain technology start-up and a recruiter attending the career fair. "Jobseekers do not need a specific academic background, and even being a 'blank slate' is acceptable," he said. "The key lies in their thinking abilities and their attitude towards embracing new things." Financial Secretary Paul Chan Mo-po pledged to make AI development a key economic driver when unveiling a belt-tightening 2025-26 budget last month. The government would spend HK$1 billion to establish a Hong Kong AI Research and Development Institute, among other technology-related initiatives worth billions, he said. Talent is among five key areas of focus, Chan said at the Technology for Change conference on Wednesday. The others are supercomputing capabilities, algorithms, data and capital. "Beyond investing more resources into AI development, we are committed to creating a more pro-innovation environment that facilitates the testing and trial of AI applications," Chan said. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025. South China Morning Post Publishers Ltd. All rights reserved.
South China Morning Post
17-03-2025
- Business
- South China Morning Post
Hong Kong's demand for AI talent surges, with more than 2,000 job openings
Hong Kong employers want to fill more than 2,000 artificial intelligence (AI) jobs as the city pushes to transform into an innovation and technology hub. Advertisement The vacancies will be featured at the Cyberport Career Fair, which takes place on Friday and Saturday. More than 580 organisations will attend, including start-ups, tech companies, government departments and firms like Hang Seng Bank and Centaline Property. About 70 per cent of recruiters would be looking to hire AI professionals, and nearly 60 per cent of the positions would be related to AI applications, said Ricky Choi, the smart-living director at Cyberport. 'In the past, everyone might have thought that Hong Kong was primarily focused on finance,' Choi said. 'Gradually, we've noticed a slight shift in this sector, especially this year, with 67 per cent [of employers] coming from the smart-living industry.' Smart living includes environmental, retail, health, robotics, Internet of Things and education technologies, he said. Advertisement Notably, the education technology sector accounts for 29 per cent of the job openings, representing the largest share across industries, Choi said. The demand for AI talent in Hong Kong remains substantial as the industry booms. One in three professionals in Hong Kong was considering switching to AI-related careers, according to digital job platform TechJobAsia.
South China Morning Post
11-03-2025
- Business
- South China Morning Post
China's push for higher home quality risks further stressing developers, analysts say
China is rolling out measures to improve the livability of mainland flats in an attempt to boost sales and shore up the slumping property sector , but analysts warned the standards for 'quality homes' could further strain cash-strapped developers. Advertisement This year's government work report, an annual policy document delivered by Chinese premier Li Qiang during the March ' two sessions ' meetings that set the country's policy playbook for the year, mentioned the term 'quality homes' for the first time. Ni Hong, minister of housing and urban-rural development, laid out some of the standards in a briefing on Sunday, including a minimum ceiling height of 3 metres for all residential property, up from 2.8 metres previously. He added that 'new technologies' should be used to address issues such as sound insulation and odours, and that homes should be available in different sizes and price ranges to meet diverse needs. Affordable housing and redevelopment of old homes would be top priorities, he said. 'Since most new homes now come with fully finished interiors, the actual usable ceiling height is reduced,' said Lu Wenxi, an analyst at Centaline Property. 'After accounting for flooring and other finishes, the net height can end up around 2.6 metres, which can feel quite cramped.' Advertisement Future projects were likely to follow the guidelines, enhancing quality of life and promoting higher construction standards for residential buildings, he said, adding that the measures would help boost sales. 'The guidance is in line with Fitch's expectation that a greater portion of [future] housing demand will come from homebuyers looking to upgrade their homes,' said Shi Lulu, director of Asia-Pacific corporate ratings at Fitch Ratings. 'This shift in demand structure is likely to support the overall average selling price for new homes, as these properties tend to be of higher quality and thus command higher prices.'
South China Morning Post
21-02-2025
- Business
- South China Morning Post
Henderson releases price list for Cheung Sha Wan residential project
Henderson Land Development released a price list for a residential project in Cheung Sha Wan – its second in a week – as Hong Kong property firms take advantage of improving sentiment and grapple with a large supply glut. The first 80 flats in the 248-unit Belgravia Place II were priced at HK$15,968 per square foot on average, the developer said on Friday. In February 2024, the developer launched 148 units in a first phase at HK$19,493 per square foot. But prices were about 10 per cent lower than the unsold stocks available in the same district, Centaline Property said. The first phase of Belgravia Place II, with a total of 714 units, came after the city's government removed all long-standing property curbs in a budget address last year. All of the units that were made available in the first round in March were snapped up within four hours. In the second phase, the 80 units include 11 one-bedroom, 23 two-bedroom and 16 three-bedroom units, ranging from 262 to 518 sq ft. The cheapest flat spans 262 sq ft and costs HK$4.09 million – or HK$15,602 per square foot after discount. Market sentiment, according to Thomas Lam Tat-man, the general manager for the sales department at Henderson Land, has improved after the Lunar New Year. He said the property market was beginning an upswing and prices would rebound in the second or third quarter of 2025.
South China Morning Post
20-02-2025
- Business
- South China Morning Post
Hong Kong homes lost US$61.7 billion of value after removal of curbs: Centaline
The removal of property curbs a year ago has failed to support home prices, as the market value of private residential properties in Hong Kong was down by HK$480 billion (US$61.7 billion) since February 2024, Centaline Property said on Thursday. The withdrawn measures included the Buyer's Stamp Duty that targeted non-permanent residents and a New Residential Stamp Duty for second-time purchasers. Also, homeowners were no longer required to pay a Special Stamp Duty if they sold within two years. Transactions rose immediately, as first and second-hand private residential market recorded an average of 5,387 deals every month in the second quarter, nearly 90 per cent higher than the previous quarter's 2,873 transactions per month, according to Louis Chan Wing-kit, CEO of Centaline Property Agency. 01:54 Hongkongers react after 2024-25 budget scraps measures to cool property market Hongkongers react after 2024-25 budget scraps measures to cool property market But the improvement was short-lived, with transactions dropping back to an average of 3,017 per month in the third quarter. In October, the city said it would relax its mortgage policies and include property investment in the New Capital Investment Entrant Scheme (CIES). In the fourth quarter, transactions rose to an average of 4,554 per month.
