Latest news with #JackChan
South China Morning Post
15-07-2025
- Business
- South China Morning Post
How Hong Kong stock exchange has simplified the IPO process
Tech – particularly that from mainland China – is currently the cornerstone of Hong Kong's IPO market. Professional services company EY reported that a majority of the 10 biggest IPOs on the Hong Kong stock exchange (HKEX) in 2024 were tech firms. On June 12, it shared that for the first half of 2025, A-share deals and proceeds increased 14 per cent year-on-year, with large IPOs propelling Hong Kong to world-leading IPO proceeds of US$14 billion. Advertisement 'The surge is largely driven by substantial government investments in research and development, and support to enterprises spearheading the technology advancement and innovation ecosystem,' said Jack Chan, EY China chairman and Greater China regional managing partner. 'National strategic plans like Made in China 2025 have further enhanced market penetration, allowing Chinese enterprises to capture significant global market presence.' Jack Chan, EY China chairman and Greater China regional managing partner. Photo: Handout Made in China 2025 was unveiled 10 years ago and has largely succeeded in encouraging the development of technology and advanced manufacturing sectors. Responding to this, HKEX and the Securities and Futures Commission (SFC) jointly launched the Technology Enterprises Channel (TECH) in May to help ease the listing process for specialist technology companies (under Chapter 18C of the listing rules) and biotech companies (18A). The channel will make dedicated teams available to help new firms get advice on listing rules, requirements and eligibility, especially as they apply to firms with products the markets may not be familiar with. HKEX's Guide for New Listing Applicants repeatedly states that many examples were non-exhaustive, making assessments for eligibility a case-by-case exercise, particularly as many of the firms that would use TECH may be developing unfamiliar technologies. 'TECH is an important communication channel,' Chan said 'through which potential applicants can clarify their queries with HKEX in detail.' Advertisement Chan continued that other than this initial guidance, the IPO process remains the same. After enquiring via the channel, firms hope to have more clarity before meeting with the listing division and submitting pre-IPO enquiries. TECH helps these companies clarify the applicable listing rules before a new listing application is submitted.
Bangkok Post
10-07-2025
- Business
- Bangkok Post
Association upbeat on growth outlook for amusement parks
Despite global economic uncertainties, the amusement park industry expects continued robust growth over the next few years, according to the International Association of Amusement Parks and Attractions (IAAPA). However, a labour shortage remains an obstacle for the industry following the pandemic. Jack Chan, vice-president and executive director of IAAPA Asia-Pacific, said industry growth has been buoyed by a growing middle class in the region, urbanisation and rising demand for high-quality leisure activities. The association expects robust growth for the industry through to 2028, said Mr Chan. "As long as the industry focuses on innovation, I think it's pretty resilient," he said. According to IAAPA, theme and amusement parks in this region are expected to draw more than 425 million visitors, generating expenditure tallying US$19 billion by the end of this year. Mr Chan said many operators have been investing in tailoring experiences for guests, such as adopting immersive experiences and utilising local festivals as their themes. He said this practice enables visitors to engage in festive events in the parks, such as Chinese New Year, Christmas, Halloween or even Songkran celebrations. These are cultural experiences that relate to local visitors and offer foreigners the opportunity to learn more about the country. He said technology helps leverage the guest experience, citing the the example of a virtual queuing system that helps visitors spend time elsewhere while waiting for the opportunity to enter, along with a software application that helps tailor tour itineraries. New technology can also be used to enhance the visitor experience. One such example involves making roller coaster rides run faster and the experience feel scarier and more exciting. As many visitors to theme and amusement parks these days are millennials and members of Generation Z, who tend to opt for a personalisation experience that can be shared via social media, operators are purposely developing their programmes in order to attract their attention, which would lead to more frequent visits every year, he said. Regarding competition between theme parks that feature a well known intellectual property (IP) brand, such as Disneyland, and non-branded parks, Mr Chan said these distinct categories complement each other rather than compete with each other. He said IP-branded parks may have stronger brand loyalty, but they also have more restrictions when it comes to design, whereas non-branded operators have greater flexibility to create their own journey, and these are thriving in many markets as the operators understand their customers. Developers are continuing to invest in new attractions this year, including Legoland Shanghai, and the safari-style Qingyuan Chimelong Resort, said Mr Chan. On the subject of the Chinese outbound market, Mr Chan said operators in Asia have started to restore the Chinese market, although it may take longer than predicted earlier to reach the level seen prior to the pandemic. A more critical issue is how to attract this market in the long run, such as by providing language translation services, or organising unique events. Other challenges for the sector include the labour shortage, which began during the pandemic as many workers opted for other jobs that allowed them to work remotely, according to Mr Chan. However, he said the industry is in a good position to compete for talent, as it offers several job opportunities. The association provides training and networking events for young professionals. The group held the IAAPA Expo Asia in Shanghai from June 30 to July 3, which attracted more than 300 exhibitors.
South China Morning Post
02-07-2025
- Politics
- South China Morning Post
Probes by Hong Kong's ombudsman reach 5-year low amid focus on mediation
The number of direct investigations led by Hong Kong's ombudsman has dropped by nearly 60 per cent, reaching the lowest level in five years, as his office increasingly relied on mediation to 'foster harmony' when handling complaints. Advertisement A comparison of the latest annual report from Ombudsman Jack Chan Jick-chi on Wednesday with past versions also found that a section on cases related to government information requests had been removed for the first time, while a chapter on 'promoting a positive complaint culture' had been added. One of the watchdog's main roles is to investigate complaints and identify deficiencies, mainly through making inquiries, conducting full investigations or mediating issues. Over a 12-month period ending on March 31, the ombudsman received 4,402 complaints, with only 40 leading to full investigations and representing a 58 per cent decrease from the 95 recorded in the previous period. According to the watchdog's guidelines, full investigations are launched for 'complex cases' that often involve serious maladministration and require more in-depth inquiries. Advertisement The figure for the 2024-25 period marked a five-year low, with the number of full investigations conducted in 2022-23, 2021-22 and 2020-21 standing at 141, 92 and 167, respectively.
RTHK
10-06-2025
- Business
- RTHK
Ombudsman probes medical device loan service quality
Ombudsman probes medical device loan service quality The Ombudsman says the Hospital Authority's loan arrangements may cause inconvenience to patients. Photo courtesy of Information Services Department The Ombudsman on Tuesday said it launched an investigation into the Hospital Authority's assistive device loan service. Jack Chan said the service is beneficial to the public, but data has shown that procedures for borrowing and returning such devices are "rather cumbersome and overly stringent". For instance, when an item is returned, the one who pays the deposit has to bring along the receipt in order to receive a refund in person, and others cannot do so on their behalf. Moreover, a refund will not be granted if there is no receipt. "The office has noted that the Hospital Authority's current loan arrangements may cause varying degrees of inconvenience to patients and their families and carers," a statement read. "Given the significant number of borrowers and a deposit as high as HK$3,500 for each assistive device, denying refunds due to missing receipts would not only lead to conflicts but also imposes a financial burden on patients and their families." The public can submit their views on the issue by July 10.
South China Morning Post
07-06-2025
- Politics
- South China Morning Post
Ombudsman sets a new year zero by removing reports from website
The need to better protect official archives and ensure public access to them has long been recognised in Hong Kong. Unlike other parts of the world, the city lacks a law providing clear rules for the safeguarding of records. But despite a public consultation in 2018, progress has not been made. The calls for an archives law have, in the past, been supported by the Office of the Ombudsman, the watchdog tasked with supervising the government and guarding against maladministration. Last year, the body celebrated its 35th anniversary with an international conference. Ombudsman Jack Chan Jick-chi spoke of the body's mission to 'propel administrative fairness, accountability and transparency'. One of the watchdog's values is 'making ourselves accessible and accountable to the public'. It is, therefore, a concern that it has removed content dating back years, including investigation reports, from its website. New arrangements introduced last month make public access to these valuable resources much more difficult. Only records published since April 2023 remain on the website. A new year zero has been set. The watchdog said the removed records were no longer up to date and might even be misleading, adding that they 'no longer reflect the current situation'. This is not a convincing explanation. Historical records, naturally, reflect the position at the time.
