Hong Kong Scared to Show its True Colours

Cathay Pacific wants to show diversity with this advert, but it's banned in HK

Last Friday Taiwan made a bold statement last week in legalizing same-sex marriages, the first place in Asia to do so.

In a way it threw down the gauntlet on other Asian places to see where they stand, and in the case of Hong Kong, it's still in the closet.

The city's airline carrier, Cathay Pacific also made a daring move with its rebranding with its campaign "Move Beyond", in a bid to demonstrate its diversity. In one of its images, it shows two Asian men wearing suits and holding hands as they walk along a beach.

Other Cathay campaign images are shown in MTR stations

However, both the Airport Authority, which runs Hong Kong's airport and the MTR Corporation rejected showing this image, and other ones are being shown around the city.

Since the news broke about not showing the image of the two men, MTR Corp tried to blame its advertising agency, JCDecaux to reconsider using it in the future. However this wasn't enough for LGBT groups, demanding to know when in the future MTR Corp would use the image.

"What does it mean that they will consider so in the future? What about [this advert] this time?" said Raymond Chan Chi-chuen, Hong Kong's first openly gay lawmaker.

"We reiterate that the MTR Corporation is committed to equal opportunities in all aspects of its business and supports diversity, and it does not tolerate any form of discrimination on the grounds of gender, sexual orientation or any other factor," the corporation said on Monday.

So... why not let actions speak louder than words and post the image in the stations?

Meanwhile, the Airport Authority tried to explain its reasoning not to show the image due to "established guidelines" on how adverts are displayed. 

"In the airport's environment, one important consideration is given to the fact that [the airport] receives a large number of passengers of all ages with different cultural backgrounds from all over the world," a spokesman for the Airport Authority said.

The LGBT community has started an online campaign

He said the advert in question had not been submitted to the authority, perhaps again blaming the ad agency.

In the meantime,  the LGBT community has started an online campaign, getting people, homosexual or not to hold a picture of the banned image and take pictures of themselves in MTR stations or at the airport, and post it on social media.

Already Gigi Chao, daughter of property tycoon Cecil Chao, posted a picture of herself and another woman at the Airport Express where they held up a sign, "#MoveBeyondDiscrimination".

Chao made headlines around the world in 2012 when her father offered HK$500 million (US$63.7 million) to any man who would marry his daughter, even though she was already married to another woman. Two years later he doubled the offer to HK$1 million.

Gigi Chao (left) and friend at Airport Express

Previously Cathay Pacific CEO Rupert Hogg had said of the rebranding campaign: "The inclusion bit is really important. No matter who you are, when you come to work at Cathay Pacific... we want you to be who you are and feel really comfortable and be a productive part of the team and that's what we strive for."

Also, the airline told staff in an internal meeting that one of the key messages of the rebranding was to "fly with pride for our LGBT community allies".

Can we please move forward with this issue? Hong Kong looks like an ostrich with its head in the sand next to Taiwan. We look sheepish in dealing with the reality of diversity in the community instead of embracing it.

Problems of the Uber Rich

Mount Nicholson has the most expensive addresses in all of Asia

Yesterday's blog post was about the gob-smacking number of properties one person in Hong Kong owns. Today's is about the buying power of the 1 percent.

In November 2017, one person shelled out HK$1.16 billion (US$149 million) for two units on The Peak in one day. One cost HK$560 million for a 2,424 sq ft four-bedroom unit on the 12th floor of Mount Nicholson, which makes it out to be HK$132,000 per square foot, making it the most expensive real estate in Asia.

The same buyer also bought 4,579 sq ft unit on the same floor for HK$600 million, or HK$131,000 per square foot, making it the second most expensive property in the region.

How does one have US$149 million to spend on two homes? The 99 percent of us will never be able to make that amount in our lifetimes. We can't even fathom the number it's so huge.

But can the uber rich continue to buy luxury homes?

But it looks like those heady days of easily dropping hundreds of millions of dollars are over.

The media are reporting prospective buyers who have put down deposits with the intention of purchasing flats are failing to complete the deals, and as a result are giving up deposits worth tens of millions of dollars.

In one recent case, a buyer forfeited his or her HK$36.09 million (US$4.6 million) deposit after walking away from the a deal to purchase a luxury house on The Peak for HK$721.88 million.                                            

Again -- most of us can't even imagine what it's like to have HK$36 million, let alone giving up that much money.

Regardless, for the real estate market, buyers refusing to complete property transactions is a bad sign.

"It is definitely not good news for the market," said JLL executive director Joseph Tsang. "There are stories about buyers walking away from their purchases every day, but this one is more eye catching."

He is also concerned about the rising number of homes being repossessed by banks and the growing number of companies filing for bankruptcy. "This is a reflection of the worsening economy, although it is still too early to say whether it would trigger a wave of defaults."

That sadly has a trickle down effect on the rest of us ordinary folk, which means Hong Kong's economy is far from stable for 2019. Not all is well with the uber rich...

                            

Picture of the Day: Cake for Smiles

The Valrhona chocolate and banana cake is the sweetest fundraiser

Every year around this time, The Ritz-Carlton Hong Kong has a fundraiser that brings smiles not only to the beneficiaries but to donors too.

Smile Asia is a group of charities that help treat children with facial deformities like cleft palates and lips and The Ritz-Carlton hotels Asia Pacific have been helping to raise money through the sale of scrumptious cakes (HK$385 each) for one week.

I put in my order as soon as I heard about the fundraiser and picked up the cake yesterday as my relatives and I had an early Mother's Day gathering.

When we finished dinner and I opened up the box, the strong smell of chocolate pricked up our taste buds with anticipation.

The cake is Valrhona chocolate with banana, as the hotel pastry chef explains that children like both these ingredients. It's an unusual combination, but for a cake that's fundraising for kids, why not?

When we cut into the cake, it was pretty dense, but in a good way -- rich chocolate with hints of banana -- though more banana would have been appreciated.

Nevertheless we're glad we did our part to help children better lives.

HK's Financial Market Closer to China

The opening ceremony of the Shenzhen-Hong Kong Stock Connect today

Another sign Hong Kong is moving closer to the mainland -- today was the launch of the Shenzhen-Hong Kong Stock Connect, where Hong Kong investors can buy mainland stocks and vice versa.

Foreigners will now have access to trading the stocks of almost 900 firms. According to the World Federation of Exchanges data, Shenzhen is Asia's busiest stock exchange, with a monthly turnover of over US$1 trillion.

The link was supposed to be launched last year, but was delayed due to mainland market volatility.

Hong Kong will benefit from stock trades going both ways

However, the first day of trading was considered rather muted, using only 21 percent of its daily northbound quota. It also failed to boost the Hang Seng index that dropped 0.26 percent due to overseas market volatility.

At the opening ceremony, Hong Kong Chief Executive Leung Chun-ying said: "This will strengthen Hong Kong as a super-connector between the world and the mainland. This will also enhance Hong Kong's role as an offshore yuan trading hub."

Two years ago the Shanghai-Hong Kong Connect link was launched, and Hong Kong Exchanges and Clearing chief Charles Li Xiaojia said today was a new milestone.

"If Shanghai-Hong Kong Stock Connect is a first baby step, the Shenzhen-Hong Kong is the second. Now we can walk, and then we can run," he said.

Foreign investors have access to almost 900 Chinese firms

While the link gives foreign investors access to mainland companies, it also benefits mainland investors looking to park their money outside of China. But surely many are savvy enough to know that having their stock trades watched is not the best way to transfer their money elsewhere.

So, it looks like whether we like it or not, our financial markets are becoming physically closer, offering a way for some people to launder their money, and for foreign investors who haven't done their due diligence to increase their chances of losing money on companies that are possibly not above board.

Perhaps that's why the response wasn't that enthusiastic today?

Time will tell.

Trump's China Lesson

Taiwanese President Tsai Ing-wen with two advisers on the call with Trump

Beijing surely when into fits of volcanic rage when US President-elect Donald Trump talked to Taiwanese President Tsai Ing-wen on Friday evening Hong Kong time.

It later emerged that it was Taiwan that initiated the call that lasted 10 minutes in which included issues of economy and defense, according to Taiwan's Presidential Office.

"During the discussion, they noted the close economic, political and security ties between Taiwan and the United States," the office said in a statement on Saturday.

US President Jimmy Carter recognized the one-China policy

The conversation broke protocol that previous US presidents have followed of no direct contact with Taiwanese leaders since 1979, when then US President Jimmy Carter recognized the "one China" policy, shifting its support from Taiwan to mainland China, though it still has unofficial ties with the island.

Beijing's official response was cool -- it lodged an official representation to Washington on Saturday, urging it to uphold its commitment to the one-China policy.

However, Trump isn't yet president, so technically the phone call was not official. But it does seriously question the brash businessman's knowledge of the geopolitics in Asia, and if his advisers know they are provoking the dragon by pulling on its tail for no good reason as evidenced by his tweet:

Does Donald Trump understand the geopolitics in Asia?

"Interesting how the US sells Taiwan billions of dollars of military equipment but I should not accept a congratulatory call."

Sounds like a sly move on Taiwan's part to get Trump embroiled in a mess with China even before he becomes president.

How Trump handles China -- or the rest of the world for that matter -- will reveal what kind of president he is. Many within the US and around the world are terrified of what he will do after he is inaugurated domestically and globally.

It's so bizarre to see a reality TV show personality become the leader of the most powerful country in the world.

But does he understand this reality is not a TV show?

Fact of the Day: How Women get Rich

There are some very wealthy women in Hong Kong...

What's the easiest way for women to get rich in Hong Kong?

Inherit the money from their husbands or fathers.

That's according to a report by Swiss bank UBS, which found about 90 percent of its wealth management arm's top female clients in Hong Kong have at least US$1 billion in this way, while the other 10 percent were self made.

Francis Liu, managing director at UBS Wealth Management said: "Within these clients in Hong Kong, we frequently see female billionaires concentrated in businesses that operate in the real estate and consumer sectors."

The bank, which co-authored the report, found the number of female billionaires in China is rising on the mainland in particular because of the now-defunct one-child policy.

"We see numerous families in which the only child, being a daughter, inherited the family business," said Liu. "In a number of heavyweight listed companies in China, daughters of founders and business leaders have inherited the reins."

The report said Asian women who were billionaires in US dollars were on average 53 years old, whereas in the United States it was 59, and 65 in Europe.

Around the world, the number of female billionaires has increased from 834 in 2010 to 1,347 last year, accounting for 11 percent of the total number of billionaires.

No wonder women in Hong Kong are keen to get rich quick...

Hong Kong Not Quite Cultural Sophisticated

One of 31 statues by Antony Gormley placed around the Central area

Hong Kong is becoming a more cultural city in the last few years, with ArtHK that has evolved into Art Basel. That on top of the art auctions we have twice a year from Christie's, Sotheby's and Bonham's as well as several other Chinese auctioneers and one would think the city was fast becoming the cultural leader in Asia.

Not quite.

British sculptor Antony Gormley's Naked Man sculptures have been erected around the city and they've caused a lot of confusion since they were unveiled last week.

The statues evoke a sense of watching and being watched

The life-size sculptures made of fibreglass are placed on the top of buildings, such as City Hall lower block, Hip Shing Hong Centre, New World Tower II, St George's Building and Queensway Government Offices.

However, in the first few days, those who actually noticed the sculptures thought they were real people standing on the edge of these buildings and called police, concerned they were potential suicide jumpers.

There were 29 such reports in two weeks.

Of the 31 sculptures, 27 were placed on rooftops mostly in the central business district, while four others made of cast iron were placed at ground level.

One statue on Queen's Road Central was an "obstruction"

But those ones on the ground also received complaints. One standing at Queen's Road Central by Theatre Lane was determined to be an "obstruction", and was fenced off by the Highways Department staff on Tuesday.

Three railings were made into a triangle around the sculpture, but after a picture of this was posted online, there were criticisms of how the government handled the situation, but the authorities held their ground.

"Our contractor temporarily fenced off the concerned area for inspection. The inspection confirmed that the concerned footpath was in proper condition and the area was immediately reopened," said a spokesperson from the Highways Department.

Why did the Highways Department do this? Why didn't they explain to the complainant that it's a work of art for Hong Kong residents to enjoy?

For someone to call it an "obstruction" is ridiculous -- in fact Gormley wants people to be more aware of their surroundings, as it is a project that explores the concept of watching and being watched.

27 of the 31 statues are placed on rooftops in Central

We can only imagine someone may have bumped into the statue while staring at their smartphone, and instead of being pleasantly surprised by the public art, was annoyed and called the Highways Department in a bid to remove the offending "obstruction"...

What does this say about how culturally sophisticated we are?

Hong Kong's Love of Processed Meat

A typical non-healthy dish in a cha chaan teng always includes panfried spam

There was some surprise today from Hong Kong people reading the news about the World Health Organization saying processed meats are carcinogenic and as dangerous as tobacco and asbestos.

As expected those in the food industry were quick to denounce the findings as "harsh", while others said the study was based on western eating habits, not Asian.

However, look at what a large number of people eat at cha chaan tengs -- panfried spam, sausages, some bacon. Many also eat sandwich meats thinking they're just as good as natural meat. And then there's lap cheong or Chinese sausages...

Some wonder if Chinese sausage is not as healthy as it looks

The study found Hong Kong people eat an average of three-and-half sausages and nearly two slices of ham per week, which is considered to pose a significant cancer risk.

Local demand for processed meats, such as sausages and ham has grown in recent years. Figures show that 23.1 million kg of sausages were imported last year, up 3.9 percent from the previous year, and up 17 percent from the year before that. Some 18 million kg of ham was brought in last year.

That's how WHO came up with an average consumption of 7.9g of sausage, or half a piece, and 6.1g of ham or a quarter slice. This doesn't include other processed meats and red meats

In general Hong Kong people are not knowledgeable about nutrition and think they are eating a balanced diet when they aren't at all. Perusing through supermarkets these days, the vast majority of food for sale are processed one way or another -- in a box.

Many shoppers buy bags and bags of instant noodles, chips, chocolate, and processed meats, and not often fresh meat, vegetables and fruits. I know this because every week when I hit the supermarket, I look at what people are buying and also what's on the shelves and I'm shivering with fear.

Should we be surprised more people in the city are obese, or have high blood pressure or are diabetic?

More markets with fresh vegetables and products are available

The WHO said eating processed meat could lead to bowl cancer, which claims the second most lives in Hong Kong, with lung cancer the number one cancer killer.

Will this report make people change their dietary habits? Probably a small percentage, while the rest will carry on eating processed meats because they don't feel ill from eating them.

But by the same token, vegetarianism or some say "part-time vegetarianism" is starting to gain more interest. There are more vegetarian restaurants in Hong Kong, and more plant-based food products are available.

The government should really be stepping up disseminating important information about what people should be eating. Enough with the "rich man's diet" and eating more vegetables and fruits. At least it would be easier on our wallets too...

Macau: Chapel of St Francis Xavier

The brightly coloured facade of St Francis Xavier Chapel

After our early lunch, my friend took me to see the Chapel of St Francis Xavier. I told her I'd visited Morrison Chapel, but she promised me the one of St Francis Xavier was even smaller.

The church is painted a brilliant yellow and white, and the baroque-style facade makes it look much larger than the Morrison Chapel. Built in 1928, it stands behind a monument commemorating a local victory over pirates in 1910.

Inside is small, but also lots of colour too!

However, inside it is quite small, with only a few pews, and the chancel, where the altar is, the area is painted a deep sky blue, with doves, and to the right are some red Chinese lanterns.

Off to the side of the main chapel area is a small room filled with pictures of parishioners from decades ago, as well as portraits of Pope John Paul II, the current Pope and Mother Theresa. There's also a Chinese painting of what many call the Chinese Mary, with her Chinese robes and headdress carrying a small baby Chinese Jesus.

The chapel also holds some important relics, including the bone from the arm of St Francis Xavier, who did a lot of evangelical work in Asia in the 1500s.

He wanted to spread the word of God to China, but died in Sangchuan Island in 1552 shortly before a boat was supposed to take him to the mainland.

St Francis Xavier was well known for converting Japanese to Christianity and so many Japanese Christians visit the church today.

A portrait of the Chinese Mary with Jesus

Chapel of St Francis Xavier
Rua do Caetano

Largo Eduardo Marques

Coloane

Fact of the Day: Jack Ma's Uber Loaded

China's one-time English teacher is now Asia's richest man

Move over Li Ka-shing -- Alibaba's Jack Ma is now Asia's richest man.

Rather than be sore about the news, the Hong Kong tycoon was happy to see someone else take top spot, a place Li had occupied since 2012 according to the Bloomberg Billionaire Index.

"I am nothing but happy when young people from China do well," said the 86-year-old Li through a spokeswoman. A spokesman from Alibaba refused to comment on Ma's net worth.

According to the Bloomberg ranking, Ma has a fortune of $28.6 billion and his personal worth is $28.3 billion, after his company went public in September, and has surged 54 percent since.

Another interesting fact is that Alibaba's $259 billion market capitalization makes it larger than Amazon and eBay combined.

"The billionaires in China are growing their wealth faster because China's economy is still developing, with plenty of room for growth," said Francis Ying, an analyst with Yuanta Research.

That means Ma's wealth will be expanding much more in the coming future, so he may be Asia's richest man for a while...