Hong Kong

Volumes rose by 49% YoY to 8,208 deals.

Employees are not given promotions due to a lack of managerial capabilities.

Hong Kong is emerging as a digitally sophisticated nation being named by The Digital Evolution Index, the third most advanced digital economy in APAC, and the ninth in the world. The city was named as one of just 10 digital elites, characterised by high levels of digital development and a fast rate of digital evolution. Further, according to the Asian Digital Transformation Index, Hong Kong is recognised as one of the top thriving economies thanks to new-age, digital capabilities– only behind Singapore, South Korea, and Japan. It’s predicted that digital transformation will add $70.6b (US$9b) to Hong Kong’s GDP in the next three years, and increase the economic growth rate by 0.5% every year. Digital technologies such as cloud computing, Internet of Things and artificial intelligence contributed only 5% to Hong Kong’s GDP last year, and is expected to grow in value by a whopping 60% by 2021. If that doesn’t paint a clear enough picture, another telling sign that Hong Kong is a digitally ready nation is that consumers are themselves adjusting rapidly to a digital future. Additional research conducted by Verint and Opinium Research LLC, drawing on interviews with more than 2,000 people in Hong Kong, show that Hong Kongers are more comfortable than their regional neighbours having their enquiries attended to digitally. Whilst they like to speak to someone in person or on the phone for support at times (55%), this will drop to 50% in the next 5 years when 1 in 2 customers will turn to pure digital channels for support include AI-driven technologies, chatbots and virtual personal assistants.

The firm is estimated to clinch $9.12b through the offering.

It will primarily be driven by the OTT segment’s 18.7% CAGR to $3.14b.

Guangzhou accounted for 60% of transactions of over $113.39m.

By Wen CHEN, Principal at Oliver Wyman

It ranks the fourth easiest place to do business in Asia.

Retail merchants can provide their customers with an additional contactless payment option at the point of sale.

The new clinic features a dedicated space to hold educational health talks for medical tourist agents and patients.

Jobs in public relations, digital marketing and insurance saw the highest pay hikes.

The deal would value the company at US$6.2b.

Centaline’s Centa-City Leading Index was at 189.42 as of 26 May.

The expansions will see the firm adding 1,500 capacity cabinets.

One notable deal was PAG’s $11.77b acquisition of Mapletree Bay Point in Kwun Tong in February.

Its proximity to Shenzhen is cited as one of the “wild card” factors.