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Introducing Private Funds, Complementing End-to-End Digital Capabilities with Dedicated Offline Wealth Management Service, Creating a Digital Wealth Management Experience That Balances Flexibility with Professionalism
HONG KONG SAR – Media OutReach Newswire – 9 October 2026 – Ping An Digital Bank (International) Limited (“Ping An Digital Bank” / “PingAnDB”) announces its expansion into high-end wealth management, making it the first digital bank in Hong Kong to enter this sector. By introducing private fund products coupled with seamless end-to-end digital capabilities and dedicated offline services, PingAnDB aims to reshape high-end wealth management customer experience. This enables customers to achieve diversified asset allocation and capture global investment opportunities, while enjoying a digital wealth experience defined by flexibility and professionalism.
According to the Securities and Futures Commission’s Asset and Wealth Management Activities Survey 2025, Hong Kong’s asset and wealth management industry accelerated sharply in 2025 to reach a historic high. Total assets under management (AUM) surged 20% year-on-year to HK$42.2 trillion by the end of the year. Within this, the private banking and private wealth management business demonstrated robust momentum, with AUM reaching nearly HK$12.9 trillion—a record high. This strong trajectory underscores the accelerating demand for wealth management solutions in the region. However, traditional high-end wealth management services typically impose high entry thresholds, which may not fully satisfy the needs of all individuals who possess substantial assets and seek global asset allocation or alternative investment opportunities. Ping An Digital Bank precisely addresses this market gap by launching private fund services, combining its fully digital platform and dedicated offline wealth management services to address customers’ demands for global asset allocation and financial management.
Mr. Ronald Iu, Chief Executive of Ping An Digital Bank, said, “Ping An Digital Bank remains committed to being a user-centric digital bank. Since launching our wealth services in March 2026, we have observed strong demand among customers for diversified asset allocation and flexible wealth management solutions.
Furthermore, a recent report indicates that Hong Kong has overtaken Switzerland as the world’s leading cross-boundary wealth management center, which is another reason to expect increasing capital inflows to the city. Capitalising on this momentum, Ping An Digital Bank is introducing private fund products, marking our debut as the first digital bank to step into the high-end wealth management sector. Leveraging our agile digital platform and dedicated offline wealth management services, we are reinventing the high-end wealth management experience to empower customers in optimising their portfolios and achieving their global asset allocation goals.”
Ping An Digital Bank’s wealth management service is designed around user experience at its core, streamlining processes to make the investor journey simpler and more convenient. The Bank collaborates with leading global fund houses, including J.P. Morgan Asset Management and Aberdeen Investments, to offer semi-liquid fund products to customers. Going a step further, the Bank complements its end-to-end digital capabilities with dedicated offline wealth management services. In addition to offline support, the online platform offers analysis tools and trading experiences comparable to online brokerages, ensuring swift and efficient execution to deliver an all-around wealth management ecosystem.
Looking ahead, Ping An Digital Bank will continue to advance its brand vision, “Always with You, Always Ahead,” harnessing financial technology to expand its footprint in high-end wealth management. By combining personalized offline wealth services with the agility of its digital infrastructure, PingAnDB aims to provide customers with comprehensive, flexible asset management solutions, setting a new benchmark for digital wealth management in Hong Kong.
Important Notes Investment involves risks. Investors should carefully read the offering documents of each product to understand the detailed risk disclosures applicable to the relevant products. The information contained herein is for general reference purposes only and does not constitute, nor should it be regarded as, any investment advice, recommendation, offer, solicitation, inducement, commitment, or guarantee. Private wealth management financial products, including private funds, are not regulated by the Securities and Futures Commission and are offered solely to customers who meet the professional investor requirements under the Securities and Futures (Professional Investor) Rules.
The issuer is solely responsible for the content of this announcement.
Ping An Digital Bank
Ping An Digital Bank (International) Limited (“Ping An Digital Bank,” “PingAnDB”) is a wholly-owned subsidiary of Lufax Holding Ltd (“Lufax”) (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) (SEHK: 2318; SSE: 601318). Ping An Digital Bank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer retail banking and business banking services. Backed by Ping An’s advanced technology, Ping An Digital Bank is elevating banking experience, serving customers in Hong Kong and the Greater Bay Area, establishing itself as Ping An Group’s integrated financial platform in Hong Kong.
DAVIS, US – Media OutReach Newswire – 9 October 2026 – BINGXUE, a mass-market tea beverage brand from Shandong, has opened its first U.S. store in Davis, California. After expanding into Southeast Asia, Central Asia, Africa, and other international markets, the brand has officially entered North America, marking another milestone in its global expansion. Backed by years of investment in supply chain capabilities, international compliance, and overseas store operations, BINGXUE is accelerating its international expansion and bringing Chinese tea beverages to consumers around the world.
BINGXUE Opens First U.S. Store in Davis, California: Shandong’s First Mass-Market Tea Beverage Brand Enters North America
On October 2, BINGXUE officially opened its first U.S. store in Davis, California, drawing strong foot traffic and sustained crowds throughout the day. From the moment the store opened, large numbers of local consumers gathered to explore the brand and line up for their favorite products. The line stretched more than 50 meters along the street, creating a striking new consumer destination in the neighborhood. Several signature soft serve and beverage products sold out within half a day, while customer traffic remained consistently high throughout the day, with staff working at full capacity to serve customers. According to store data, more than 1,000 beverages were sold on opening day, quickly generating strong consumer interest in the local market. The store quickly became a popular new destination in Davis, with many local residents sharing their visits on social media and generating widespread local buzz.
The grand opening also received significant attention and support from local government and business representatives. Davis Mayor Donna Neville attended the ribbon-cutting ceremony in person, joining the BINGXUE team to mark the official opening of the brand’s first North American store. Following the ceremony, Mayor Neville visited the store to learn more about BINGXUE’s ingredient standards, product portfolio, and global supply chain, and sampled several of the brand’s signature tea beverages. The beverages were well received for their quality and refreshing flavors, further strengthening BINGXUE’s connection with the local community and highlighting its growing presence in the market. The warm and engaging exchange throughout the event helped bring the brand closer to the local community and support its deeper integration into the North American market.
Representatives from the local chamber of commerce also attended the grand opening to congratulate the BINGXUE team and engaged in in-depth discussions with the brand on topics including localized operations, integration into the local business community, and opportunities for community collaboration. The recognition and welcome from the local business community provide a strong foundation for BINGXUE to establish a long-term presence in California.
This achievement reflects the brand’s long-term investment in supply chain development, compliance systems, and product localization. Although its first U.S. store opened only this year, BINGXUE began preparing for FDA requirements related to relevant ingredients three years ago, while its supply chain planning started even earlier. The company has spent years preparing its ingredients, certifications, production processes, and compliance systems for the U.S. market. The launch of its first store was therefore the result of long-term planning rather than a short-term market test.
Founded in Shandong in 2014, BINGXUE began its international expansion in 2023. In just three years, the brand has entered 18 countries and regions, with more than 5,000 contracted stores worldwide. Of these, more than 2,000 are overseas, with over 1,500 overseas stores already in operation, while the overseas store closure rate remains below 1%. From Southeast Asia to North America, BINGXUE continues to expand its global footprint.
BINGXUE’s global expansion strategy did not begin simply with opening stores overseas. It began with the long-term development of its brand, supply chain, and international compliance capabilities. BINGXUE is the first Shandong-based tea beverage brand to enter the U.S. market. Its ability to establish a presence in one of the world’s most competitive consumer markets, with stringent market-entry requirements, demonstrates the strength of its broader business and operational capabilities.
On the product side, BINGXUE offers a diversified portfolio spanning fresh fruit teas, milk teas, signature soft serve, yogurt smoothies, and other categories to cater to different tastes and consumption occasions. According to research by Champ Consulting, BINGXUE’s matcha soft serve ranks No. 1 globally in sales.
In terms of store experience, BINGXUE’s new 8.0 store format enhances customer engagement through a five-senses approach and premium aesthetics, while maintaining the same pricing structure and continuing its positioning of “premium experience at accessible prices.” The choice of Davis for its first U.S. store was not a simple replication of its domestic model, but a decision based on the city’s university ecosystem and young consumer base, supported by localized adjustments.
Many may ask why BINGXUE chose Davis rather than a major city such as Los Angeles or San Francisco for its first U.S. store. The answer lies in the character of the city itself.
Davis is one of the birthplaces of the U.S. “Farm-to-Fork” movement, where local ingredients and sustainable agriculture are deeply embedded in everyday life. UC Davis is consistently recognized as a leading institution in agriculture and food science. This strong emphasis on ingredients closely aligns with BINGXUE’s “Global Flavors Season” concept, which explores source regions and local flavors.
As a classic college town, Davis has a large student and university-affiliated population, while its diverse and open-minded community provides a strong audience for new-style tea beverages. Rather than competing for traffic in a major metropolitan market, BINGXUE positioned its first store close to consumers who value ingredients and are willing to try new products. In Davis’s competitive tea beverage market, the brand has also differentiated itself through accessible pricing and distinctive flavors that resonate with local consumers.
Successful international expansion for a tea beverage brand depends on far more than store operations. It requires an integrated system covering ingredients, production, certification, warehousing, logistics, and training. BINGXUE established its own factory as early as 2018. In August 2026, the BINGXUE Industrial Park officially opened in Qihe, Shandong, with a total investment of RMB 660 million, integrating manufacturing, R&D, training, and supply chain operations.
The industrial park includes production facilities covering key product categories such as powdered beverages, juices and jams, tea, and dairy products, supported by an R&D center and business training system. Together, these capabilities form an integrated chain spanning raw-material production, product development, staff training, warehousing, logistics, and store operations. More than 80% of BINGXUE’s raw materials are currently supplied by its own factories.
The company has also established a three-tier logistics network consisting of central warehouses, regional warehouses, and partner warehouses, supporting stores worldwide through domestic warehousing, overseas warehouses, and localized production.
Meanwhile, to meet food safety and production requirements across different countries and regions, BINGXUE has continued to strengthen its international compliance capabilities and has obtained six international certifications and related qualifications, including Halal, ISO 22000, HACCP, and FDA-related certifications and approvals. From factories to overseas warehouses, and from ingredient certification to store training, BINGXUE is gradually converting years of industrial investment into overseas operating capabilities.
For BINGXUE, international expansion also means building a supply chain capable of supporting operations across different markets. The company has taken a more asset-intensive approach, building the infrastructure and capabilities needed to support its expansion into the U.S. market.
The first U.S. store is only the beginning. A second U.S. location is already in development and is expected to open on Oxnard Boulevard in California. As Jiang Huabei, founder and general manager of BINGXUE, said, “The overseas market offers greater room for growth than the domestic market. If you decide to enter it, the goal should not be simply to test the waters, but to build for the long term, develop the market thoroughly, and meet unmet consumer needs.”
Going forward, BINGXUE will continue to build on its supply chain capabilities, focus on product development, and strengthen localized operations as it steadily advances toward its goal of reaching 10,000 stores worldwide within three years. With its entry into North America, BINGXUE is bringing Chinese tea beverages to more consumers around the world and opening a new chapter in the international expansion of Chinese tea culture.
Hashtag: #BINGXUE
The issuer is solely responsible for the content of this announcement.
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US$10 Billion in Venture Capital Convenes to Meet Hong Kong Start-ups; Government, Business and Young Professionals Explore Opportunities in the New Economy
HONG KONG SAR – Media OutReach Newswire – 7 October 2026 – The Global Youth Powerhouse Summit 2026, organised by Hong Kong Youth Professional Global Advocacy, was held on 5 October at the Conrad Hong Kong. Now in its third edition, the Summit coincides with the release of the Hong Kong Special Administrative Region’s First Five-Year Plan for Economic and Social Development (2026–2030) and the latest Policy Address, which together set a clear blueprint for the city’s future. Anchored on these core themes and conducted entirely in English, the full-day programme focused on artificial intelligence, geopolitics, Hong Kong as an education hub, capital markets, life and health technology, and start-up financing. Government and business leaders, corporate representatives and young professionals were invited to examine Hong Kong’s strategic opportunities in the new economic landscape.
The Global Youth Powerhouse Summit 2026 brings together more than 600 young professionals, government and business leaders and corporate representatives
The Summit aims to connect young professionals with international resources, enabling participants to engage directly with industry leaders, grasp developments at the frontier of industry, and look ahead to the opportunities and challenges arising from artificial intelligence and Greater Bay Area integration. Previous editions have drawn a strong response. Across three editions, the Summit has attracted more than thousands of in-person participants and about 17,000 online participants from over 30 countries and regions, with social media reach exceeding 50 million.
This year’s Summit was the largest yet, bringing together more than 600 young professionals, government and business leaders and corporate representatives. Participants from over 60 countries and regions joined online. More than 30 distinguished speakers and moderators were invited, including officials of the Hong Kong Special Administrative Region Government and representatives of leading local and international organisations such as Huawei, the Alibaba Hong Kong Entrepreneurs Fund, Hong Kong Exchanges and Clearing Limited, Bullish and Endowus. In addition, consular representatives from up to 20 countries attended the Summit.
The Chief Executive of the Hong Kong Special Administrative Region, Mr John Lee, GBM, SBS, PDSM, PMSM, delivered a pre-recorded video speech, encouraging young professionals to seize the opportunities of the times and inject fresh momentum into Hong Kong’s high-quality development. He said: “For our young people, I firmly believe that your opportunities ahead outweigh the difficulties. The HKSAR Government will join hands with all sectors to build platforms for you to thrive in Hong Kong, in our country, and in the global arena.”
The Deputy Secretary for Justice of the Hong Kong Special Administrative Region, Dr Cheung Kwok-kwan, SBS, JP, delivered an opening keynote entitled “Opportunities for the Professional Development of Young People”, and stressed: “As the saying goes, ‘Change is the only constant’—or as our Cantopop classic famously put it, ‘變幻原是永恆’. Today, we no longer measure change in years or decades, but in months and days. For our young professionals, this fast-paced era unlocks unprecedented career horizons. By accelerating Greater Bay Area integration through our new GBA Task Force and empowering you to act as the ultimate ‘super-connectors’ and ‘super value-adders’ helping Mainland enterprises go global, we are turning rapid change into your greatest professional advantage.”
Dr Kevin Lau, MH, Founding Convenor of Hong Kong Youth Professional Global Advocacy, said: “This is more than a high-level forum. It marks a milestone in the maturing of our network of young professionals. This afternoon, venture funds managing an estimated US$10 billion in assets gathered in the room — and what they are looking at is Hong Kong’s next generation. In life and health technology, our core belief is clear: artificial intelligence can assist imaging and diagnosis, but a physician’s care, and the warmth of a human hand, can never be replaced by technology.”
Other distinguished guests included Mr Kevin Choi, JP, Permanent Secretary for Innovation, Technology and Industry; Professor Frederick Ma, GBS, JP, Chairman of the Hong Kong Trade Development Council; Ms Bonnie Y Chan, JP, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited; and Mr James Chau, President of the China-United States Exchange Foundation and World Health Organization Goodwill Ambassador for Sustainable Development Goals. Mr Bryan Che, Chief Strategy Officer of Huawei, and Ms Cindy Chow, Executive Director and Chief Executive Officer of the Alibaba Hong Kong Entrepreneurs Fund, also attended in person to exchange views with young professionals.
Panel discussions
Artificial intelligence: from first-time users to advanced users The opening session began with remarks by Mr Kevin Choi, JP, Permanent Secretary for Innovation, Technology and Industry, and was moderated by Ms Stephaine Chan, Director of the Office of the Vice Chairman of Esquel Group. Panellists included Ms Ilaria Chan, Chair of the Tech For Good Institute; Mr Bryan Che, Chief Strategy Officer of Huawei; and Ms Cindy Chow, Executive Director and Chief Executive Officer of the Alibaba Hong Kong Entrepreneurs Fund. The discussion focused on whether small and medium-sized enterprises, non-governmental organisations and schools can genuinely put artificial intelligence to use, and on the talent, trust and practical-application issues Hong Kong faces in driving “AI for all”.
Mr Kevin Choi, JP mentioned: “Every major technology shift brings uncertainty. Our theme today from entry-level shock to AI-powered users building the next talent leader.”
Ms Stephaine Chan said: “Every AI conversation ends in the same place, right? More investment, better people, better models and stronger policy.”
Ms Ilaria Chan said: “These days, Al is so powerful that they can scan the Internet and social media and find vulnerable young people or old people. They can find it instantly and have a very sophisticated way to trick them and fraud them from scamming.”
Mr Bryan Che: “One of the opportunities of Al is because the interface is much more natural for most people to interact with. On one sense, it’s a lot easier for everyone to get started.”
Ms Cindy Chow said: “So I guess some of the most damaging thing is not allowing people to use or not, you know, really have the attitude to embrace all this new technology, what this new technology has to bring to you.”
Geopolitics: the super-connector This session was moderated by Mr James Chau, President of the China-United States Exchange Foundation and World Health Organization Goodwill Ambassador for Sustainable Development Goals. Speakers included Ms Ilaria Chan, Chair of the Tech For Good Institute; Ms Ellana Lee, Senior Vice President, Managing Editor, Asia Pacific, and Global Head of Productions at CNN; and Professor Frederick Ma, GBS, JP, Chairman of the Hong Kong Trade Development Council.
Mr James Chau said: “Against this backdrop, we often hear Hong Kong described as a super connector, typically framed in terms of trade volumes, capital markets and logistics but I think that these connections that we’re speaking of really only become very valuable and we understand and recognize the human bonds that pin these together.”
Professor Frederick Ma , GBS, JP said: “We are part of China. And yet we are under one country 2 systems connected to the rest of the world. That is the power of Hong Kong.”
Ms Ellana Lee said: “We made a very strategic decision when the times were tough to stay and remain in Hong Kong. I think that has and you know, we make these decisions not just out of a whim, but we are very calculative on why we need to stay. I have 8 cities across Asia Pacific. Hong Kong happens to be the hub for Asia Pacific. And there’s it boils down to four major reasons.”
Ms IIaria Chan: “Simple of how tech is helping people, there is an organization, WHO care for children that was founded 20 years ago that helps orphans in developing China back then Vietnam, Thailand now in Africa, Middle East to find loving permanent homes. But their bottleneck is how they train social workers and governments on how to take care of orphan welfare. Now this year we’ve actually been launching an online product that is able to scale these bottlenecks, especially in areas that are underfunded. This is a great example of Al tech.”
Education: Hong Kong as Asia’s education hub This session was co-moderated by Mrs Jennifer Yu Cheng, JP, Founder of the Future Leaders Foundation, and Ms Jennifer Ma, Founder of JM Edu Consulting. Speakers included Ms Maggie Chau, School Partnership Advisor at the Academy for Educational Development and Innovation of The Education University of Hong Kong; Mr Dion CHEN, MH, Vice-Chairman of the Hong Kong Direct Subsidy Scheme Schools Council; and Professor Charles Ng Wang-Wai, Vice-President for Institutional Advancement of The Hong Kong University of Science and Technology.
Mrs Jennifer Yu Cheng, JP said: “An education hub is more than a place with excellent institutions. It is a place that students and families choose, where young people flourish, and connects education with research, innovation, careers and a wider community.”
Professor Charles Ng said: “With our national policy. And I think we should do better to support this great initiatives and thinking back actually 2023 and home government already in in the government policy in October, if I remember correctly to start to increase the local student quota from 20% to 40%.”
Ms Jennifer Ma said: “As a consultant we need demand to meet supply and we are definitely seeing the demand for Hong Kong education at K12 level…….The advocacy for Hong Kong to be the gateway for China Resources and talents to leave China and go into international arenas. But at the same time, we also see a lot of international people interested in what’s happening in mainland, and therefore Hong Kong is a great gateway. So, with that global education, global education philosophy, that means they really appreciate Hong Kong trilingual education by cultural mindset.”
Mr Dion CHEN, MH mentioned: “In 2026, a lot of DSS schools will work very hard to try to welcome and also promote welcome to Hong Kong and also promote Hong Kong’s education to the students in different countries.”
Ms Maggie Chau said: “Maggie: I can see that all the universities are actually implementing AI in their curriculum. Talking about teacher education, the programs we offer, I mean, not just The Education University of Hong Kong, the programs we offer in all universities implement Al in the curriculum in a way that we draw attention to the use of Al is it has to be ethical.”
Capital markets: AI listings, asset tokenisation and the new economy This session was moderated by Ms Emily CHAN Tan, a former CNBC anchor. Speakers included Ms Bonnie Y Chan, JP; Ms Clara CHAN Ka Chai, Chief Executive Officer of the Hong Kong Investment Corporation Limited; Mr Michael Lau, Senior Vice President and Head of Group Business Development at Bullish and Chairman of Consensus; and Mr Samuel RHEE, Co-founder, Chairman and Group Chief Investment Officer of Endowus.
Ms Clara CHAN Ka Chai said: “We always say that from zero to 1 is the most challenging part. So, the patients in terms of having staying power is the core, but it has to go in hand with other qualities like being proactive, being professional.”
Mr Michael Lau said: “I think it’s an interesting proposition to consider that these types of companies that are so capital. I would start looking beyond the current horizon of where we are to see where it could go next. And so I do think that there is a demand looking to that future where this idea of a tokenized capital market could be quite interesting.”
Mr Samuel RHEE mentioned: “First of all, maybe we just take a step back and just try to understand all of the capital markets, not just equities.”
Ms Bonnie Y Chan, JP said: “I want to point out one thing. I mean, we are operating a stock exchange and I think capital markets at the end of the day, the basic function is to match capital with opportunity. So what I’m very focused on is that I’m not just focused on technology or AI.”
Ms Emily CHAN Tan said: “We are not just witnessing a cyclical recovery, but also some would call this the threshold of a capital markets renaissance.”
Life and health technology: building a health-industry hub This session was moderated by Professor Lo Yuk-lam, BBS, Founding President of the Hong Kong Biotechnology Organisation. Speakers included Professor LI King-Chuen, Founding Dean of the School of Medicine at The Hong Kong University of Science and Technology; Dr Sarah SALVILLA, Director of Health and Strategic Partnerships at FWD Group; and Professor Anthony Wu Ting-yuk, GBS, JP, former Chairman of the Hospital Authority and Non-executive Chairman of Trinity Medical Group. The discussion focused on how AI in healthcare can strengthen the competitiveness of Hong Kong’s health industry.
Professor Lo Yuk-lam, BBS said: “Building HK’s holistic wellness hub, this year marks a defining moment for HK. With the release of our first ever five year plan and their chief executive policy address just a few weeks ago, our city’s road map for healthcare and biotechnology knowledge has never been clearer or more ambitious.”
Professor Anthony Wu Ting-yuk, GBS, JP said: “Every country every city is trying to recruit more talent and I think Hong Kong is an ideal position to attract talents.”
Professor LI King-Chuen said: “Our education system will be individualized. And we will do the factual knowledge transfer through mostly self-directed learning. So we guide them, we build an AI system with prescribed information.”
Dr Sarah SALVILLA said: “Prevention for sure in terms of how do we educate people to be much more proactive in their everyday lives, yes you know, kind of the lifestyle things.”
Start-up pitching: connecting with capital The closing session was moderated by business journalist Ms Elaine Yu, with Mr LU Chin Yung, Senior Vice President (Start-ups) of the Sector Specialist Group at Invest Hong Kong. Representatives of 11 venture funds were present, including the Alibaba Hong Kong Entrepreneurs Fund, Clee Capital, Click Ventures, GT Healthcare Capital Partners, Gobi Partners GBA, HKSTP Ventures, MindWorks Capital, Ryoden Medical Holdings, Seveno Capital, Verge HealthTech Fund and W2 Venture Partners. Together, the funds manage an estimated US$10 billion, have invested in more than 600 start-ups across more than 30 economies, and have backed at least nine unicorns, including Airwallex, Animoca Brands, Prenetics and GoGoX. Start-ups taking part in the pitching session included CELLmeric, Entoptica, PointFit, Syngular, Kodifly, AilsynBio, EveryBaby, A-grade, Orimmune Biotech, Nordia Biotech, Oncolmmu Nostics Limited, The Harbour School (THS), VisionBridge, Eden’s Garden, and CARE CONNECT.
Ms Elaine Yu said: “We have 15 startups and I think a group of students as well, very precocious students WHO are already thinking of ideas, real businesses with commercial viability at the cutting edge of science, research, healthcare and so forth. So, this should be a fun dynamic session.”
Mr LU Chin Yung pointed out: “Hong Kong is great in a lot of rankings in the world and this is not given, this is hard earned by your parents, by some of you sitting here. But as a young founder in Hong Kong, if you come to Hong Kong, you get to enjoy all this very safe environment. You have efficiency and then you also have a very clean government. This one I can say for sure. Yeah. And and all this, it helps the the founders to focus on your business, focus on grow, growing instead of you have to deal with many, many things.”
The Summit closed amid lively exchange. Hong Kong Youth Professional Global Advocacy said it will continue to build the Summit into a platform for dialogue between young professionals and leading figures in government and business, helping Hong Kong’s young talent seize the opportunities of the new economy.
Vice-Chairman, Hong Kong Direct Subsidy Scheme Schools Council
Mrs Carrie Cheng, JP
Founder, Future Leaders Foundation
Dr Cheung Kwok-kwan, SBS, JP
Deputy Secretary for Justice, Hong Kong Special Administrative Region
Mr Kevin Choi, JP
Permanent Secretary for Innovation, Technology and Industry
Ms Cindy Chow
Executive Director and Chief Executive Officer, Alibaba Hong Kong Entrepreneurs Fund
Dr Kevin Lau, MH
Founding Convenor, Hong Kong Youth Professional Global Advocacy
Mr Lau Tak-ho
Senior Vice President and Head of Group Business Development, Bullish, and Chairman, Consensus
Ms Ellana Lee
Senior Vice President, Managing Editor, Asia Pacific, and Global Head of Productions, CNN
Professor King Li
Founding Dean, School of Medicine, The Hong Kong University of Science and Technology
Professor Lo Yuk-lam, BBS
Founding President, Hong Kong Biotechnology Organisation
Mr Raymond Lui
Senior Vice President (Start-ups), Sector Specialist Group, Invest Hong Kong
Ms Michelle Ma
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Ms Elaine Yu
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Dr Elsie Leung, GBM, JP
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Mr Gordon Lam
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Mr Chan Chung-ni, SBS, JP
Hong Kong Deputy to the 14th National People’s Congress
Mr Ho Hon-kuen, BBS, MH
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Mr Tu Haiming, BBS
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The Hon Lam Wai-chuen
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Legislative Council Member
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Legislative Council Member
Mr Ng Yuk-yeung
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Commissioner for Youth, Home and Youth Affairs Bureau
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Consulate General of France in Hong Kong
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Senior Advisor, Office of the Chairman, Greater China, EY
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Mr Patrick Yeung
Chief Executive Officer, Hong Kong General Chamber of Commerce
Ms Kimberly Kwok
Founder, Mighty Oaks
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Former Chairperson, Women’s Commission, and founding Chairperson, Financial Reporting Council
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Consulate General of France in Hong Kong
Mr Peter Shum
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JCI Hong Kong
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Hong Kong Trade Development Council (represented by Mr Andrew Chui)
Mr Silas Chu
Hong Kong Trade Development Council
Mr Lot Chan
Assistant Director of Health (Preparatory Office for Centre for Medical Products Regulation)
Dr Jeff Lee
Head of the Health Informatics and Technology Office
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Hong Kong Youth Professional Global Advocacy
Hong Kong Youth Professional Global Advocacy is a community organisation founded in 2023 by young professionals in Hong Kong. It seeks to serve as a bridge between Hong Kong and the world, uniting Hong Kong young people globally through a range of exchange activities and cultivating an overseas youth network that supports “Hong Kong opportunities”. The organisation brings together more than 120 young professionals across finance, real estate, building surveying, manufacturing, environmental protection, healthcare, law, accounting and technology, and works closely with professional bodies, industry associations and the media. Through monthly salons and online exchanges with the Greater Bay Area, Southeast Asia and countries along the Belt and Road, it promotes understanding of the development of the Hong Kong Special Administrative Region and the Chinese Mainland, explores opportunities for collaboration, and ultimately aims to build a stronger network of professional youth and deepen exchange and cooperation with young people around the world.
Israel’s election campaign has been jolted by the attempted seizure of a Flydubai flight, with Prime Minister Benjamin Netanyahu presenting the episode as validation of his pre-election security warnings while opponents accuse him of turning a still-unfolding investigation into political ammunition. The dispute has intensified as investigators in the United Arab Emirates examine the September 30 attack aboard Flight FZ1073 from Dubai to Tel Aviv. UAE Attorney-General […]
By R. Suryamurthy Nine years after GST replaced a maze of central and state indirect taxes, the most revealing measure of its success may no longer be the monthly collection number. The harder question is whether India has built a tax system in which the government can distinguish between a taxpayer who is trying to […]
Grade A Office Availability Rate Drops Further, High Street Leasing Activities Focus on Kowloon
Residential Market: Market sentiment turned more cautious in Q3, with total residential transaction numbers slipping by 40% q-o-q and 21% y-o-y to record around 13,240 cases. Home prices softened by 0.8% between July and August, yet, supported by stronger 1H performance, still recorded a cumulative rise of 7% in the first eight months of 2026.
Grade A Office Market: Citywide net absorption reached 412,400 sq ft in Q3, mainly driven by expansion activities by the banking, financial services and insurance (BFSI) sector. Rents in Greater Central continued to pick up, while rental level declines in non-core submarkets narrowed. The overall office market rental level is expected to rise by +5% to +7% in 2026.
Retail Market: Overall retail sales growth remained resilient on the back of growing tourist arrivals and stronger economic fundamentals supporting local consumption sentiment. The overall high street vacancy rate remained broadly stable in Q3, with leasing activities concentrated in Mongkok and Tsimshatsui.
HONG KONG SAR – Media OutReach Newswire – 5 October 2026 – Global real estate services firm Cushman & Wakefield today held its Hong Kong Property Markets Q3 2026 Review andOutlook press conference. The Hong Kong residential market entered a consolidation phase in Q3 amid a shift in the U.S. Federal Reserve’s interest rate outlook, increased stock market volatility, and tighter cross-border capital controls in the Chinese mainland. Against this backdrop, residential transaction numbers dropped by 40% q-o-q to record around 13,240 cases in Q3, while home prices declined by 0.8% during July and August. In the Grade A office market, the total new leased area for Q3 reached 1.4 million sq ft, the highest quarterly level since 2019, supported by expansion activities from the BFSI sector. Citywide net absorption reached +412,400 sq ft for the quarter, bringing the overall availability rate to trend further downward, while YTD rental growth recorded +6.1%. In the retail sector, total retail sales remained resilient in Q3. The overall high street vacancy rate remained broadly stable during the quarter, chiefly supported by more active leasing commitments in Mongkok. Leasing activity in Hong Kong Island districts moderated somewhat.
Grade A office leasing market:BSFI expansion demand fuels leasing momentum
The Q3 2026 period marked another active quarter for Hong Kong’s Grade A office market. Total new leased area reached 1.4 million sq ft in Q3, the highest quarterly level since 2019. The banking, financial services, and insurance (BFSI) sector, and consumer products / manufacturing sectors, were the key demand drivers, with BFSI occupiers largely expansion-led. Citywide net absorption reached +412,400 sq ft in the quarter. This performance helped pull down the overall availability rate 0.4 percentage point q-o-q to 19.1%. Core district rents continued to outperform non-core areas. Greater Central rents continued to climb by a further 3.0% q-o-q in Q3, while non-core area rental level declines further narrowed. Rents in Hong Kong East and Hong Kong South edged up slightly in Q3. The overall citywide rental level rose by 1.7% q-o-q in Q3, bringing YTD rental growth to +6.1%.
John Siu, Managing Director, Hong Kong, Cushman & Wakefield,said, “Rents in Greater Central grew by 13% YTD, reflecting strong demand for prime offices. However, mid-priced Grade A offices, particularly those with net effective rents of around HK$45-60 psf, are expected to continue facing headwinds, as abundant existing space and forthcoming supply across multiple submarkets within this price range is likely to sustain intense competition.”
Siu added, “Looking ahead, positive market momentum is likely to partly offset the scheduled 1.2 million sq ft of new supply in Q4, keeping the availability rate broadly stable at 19% to 20% at the year-end. With a decelerating supply pipeline beyond 2026, availability may have passed its cyclical peak in 2025, but non-core areas will continue to face absorption pressure. Full-year rental growth in Greater Central is now projected to grow by +12% to +14%, supporting the citywide Grade A office rental level to rise by +5% to +7% in 2026.”
Retail leasing market: Retail sales growth remains resilient, with Mongkok leading high street leasing activities
Hong Kong retail sales growth remained resilient in Q3, driven by growing tourist arrivals and stronger economic fundamentals supporting local consumption sentiment. The city’s overall retail sales for the January to August 2026 period reached HK$266 billion, up 8.5% y-o-y. Among key retail categories, the Jewellery & Watches sector recorded the strongest performance, recording y-o-y sales growth of 22.6%. Other sectors, such as Medicines & Cosmetics (+5.0%) and Fashion & Accessories (+3.2%), recorded more modest low single-digit growth.
The overall high street vacancy rate remained broadly stable at 5.4% in Q3, chiefly supported by more active leasing commitments in Mongkok, with the district’s vacancy rate dropping to 4.8% from 8.6% in Q2. In Tsimshatsui, although the vacancy rate moved up to 9.5%, notable new transactions were also recorded during the quarter. On Hong Kong Island, vacancy rates in Causeway Bay and Central increased in Q3, rising to 5.1% and 1.4%, respectively, after remaining at 0% for two consecutive quarters. With prime retail spaces in both districts fully occupied in previous quarters, leasing activity moderated in Q3.
High street retail rents in both Causeway Bay and Tsimshatsui remained unchanged in the quarter. In Mongkok, stronger leasing momentum supported a 0.4% q-o-q rise in rental levels. As for Tsimshatsui, a slowdown in the luxury segment combined with relatively high vacancy weighed on the district’s rental performance, resulting in a fall of 1.1% q-o-q. In the F&B sector, rents remained under pressure amid high availability, dropping within a 1% range q-o-q across the four key districts.
John Siu commented, “We have observed stronger leasing demand from Japanese, South Korean and Thai brands in recent months. Looking at the first-stores recorded so far this year, approximately 36% originated from Japan, South Korea and Thailand, similar to the share accounted for by Chinese mainland brands, while exceeding the 29% recorded for 2025 full-year. We expect this trend to continue through the remainder of the year. Looking ahead, the Hong Kong retail market is expected to remain supported by resilient local consumption resulting from stronger economic fundamentals, together with greater tourist spending underpinned by a stronger RMB, and a pipeline of planned mega-events. These factors will bring continued momentum to the city’s retail market. We also expect local and non-local retailers to remain selective, with demand focused on well-located retail spaces in core districts offering attractive rental packages. In turn, the city’s retail market is likely to maintain a gradual recovery trajectory. We forecast high street retail rents in Causeway Bay and Central to pick up by 2% to 3% y-o-y in 2026, with Tsimshatsui and Mongkok recording modest rental growth of 1% to 2% y-o-y.”
Residential Market: Home prices consolidate as transaction numbers cool in Q3, rate hikes remain key
The Hong Kong residential market consolidated somewhat in Q3 following the strong momentum recorded in 1H. After the sustained release of purchasing power over the past year, coupled with the shift of the U.S. Federal Reserve rate direction, increased stock market volatility and heightened uncertainties, some prospective buyers reverted to a wait-and-see stance. This resulted in a noticeable slowdown in transaction activity from July onwards. The monthly transaction number, which averaged more than 7,000 cases in Q2, fell back to around 4,000 deals between July and September. A total of 13,242 residential transactions were recorded in Q3, down 40% q-o-q, bringing cumulative transactions to reach 54,052 cases for the first nine months of the year, representing an 18% increase y-o-y.
Edgar Lai, Senior Director, Valuation and Consultancy Services, Hong Kong, Cushman & Wakefield, commented, “Housing price growth momentum decelerated in Q3 2026. Rating and Valuation Department data suggests that the overall residential price index softened by 0.8% in the two months from July to August, yet still achieved 7.0% growth for the first eight months of 2026. Meanwhile, our Cushman & Wakefield mid-and-small size units price index shows that home prices mildly dropped 0.1% q-o-q, yet still registering a cumulative increase of 7.7% year to date. Our tracking of popular housing estates shows that prices softened in Q3 across different market segments. Prices at City One Shatin, representing the mass market, declined by 5.7% q-o-q, while prices at Taikoo Shing, representing the mid-market, dropped by 0.6% q-o-q. Residence Bel-Air, representing the luxury segment, retreated by 3.8% q-o-q. Following the sustained release of purchasing power over the past year, coupled with tighter cross-border capital controls from the Chinese mainland, and the U.S. Fed rate hike of 0.25% in September, our September Verbal Enquiry Index declined by 35% compared with the peak seen in May.”
Rosanna Tang, Deputy Managing Director, Head of Research, Hong Kong, Cushman & Wakefield, added, “The city’s residential market consolidated in Q3, with monthly transactions retreating to around 4,000 cases. The slowdown reflects a more cautious stance among homebuyers amid shifting interest rate expectations and heightened external uncertainties. Looking ahead, the frequency and pace of rate hikes, together with whether local banks will follow suit, will be the key factors affecting homebuyers’ purchasing decisions and affordability. Given the slower pace of transactions in Q3, we have revised our full-year residential transaction forecast to around 67,000 to 68,000 cases.
“As for pricing, should the U.S. Fed rate further increase in Q4, the residential market is expected to remain in a consolidation phase, with 2026 annual home prices likely to fluctuate in a narrow range near +7%. The rental market, however, will be more resilient underpinned by rental demand brought by the inflow of talent, non-local students, and new entrants to the city. With rental growth of 4.9% recorded in the first eight months of the year, we project a 5% to 7% y-o-y increase for the full year of 2026.”
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About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 53,000 employees in nearly 350 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Investigators examining the cockpit attack aboard a flydubai flight to Tel Aviv believe the co-pilot intended to kill the captain and crash the aircraft into a target in Israel in an attack modelled on September 11, 2001. A preliminary Israeli investigation has concluded that Hamam al-Hammami, a 29-year-old Omani national, planned to take control of Flight FZ1073 after incapacitating Captain Smit Machchhar and then deliberately strike a […]
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