Today in HK (11/19/2024)

Yesterday, the Global Financial Leaders' Investment Summit, organized by Hong Kong Monetary Authority, has opened to about 300 audience, and will last for two more days, including today. Beijing's economic tsar is joining global banking heavyweights in the city after paying a visit to Guangzhou Nansha, Guangdong, another member of the Greater Bay Area. Vice-Premier He offered some suggestions for Hong Kong's economic development and claimed that Hong Kong "will be more prominent" as an international financial center. Hong Kong has moved from stability to prosperity, he added.

According to data released yesterday, fewer students used the 'sibling route' to secure spots in the initial discretionary admission stage at some of the most popular primary schools in Hong Kong, that is, parents have greater chances of enrolling their children in top schools. Polly Chan Suk-yee, vice-chairwoman of the Hong Kong Aided Primary School Heads Association, explained that some younger brothers and sisters will leave their schools when their elder brothers and sisters leave the city, thus, fewer students are admitted by this route.

Reduced tolls including two fixed tolls and a time-based fee toll could be rolled out in 2025. Authorities are leaning towards implementing time-based tolls in the northwestern New Territories, released by a government source yesterday. Motorists may only have to pay between HK$18 and HK$45 to use the tunnel; taxis and commercial vehicles would pay a flat rate throughout the day of only HK$28 and HK$43. According to Ryan Wong Cheuk-pong, chairman of the Hong Kong Taxi council, regulating toll fees would reduce traffic jams.